5 technologies that drive Web 3.0 | by Marvelous Ugochi Kalu | November 2022 | Media Pyro


Photo: GuerrillaBuzz Blockchain PR Agency on Unsplash

The Internet has evolved from static images and text (web1) to facilitating interaction with web applications, marketplaces, user-generated content, and social media platforms. This evolution paved the way for greater technological progress in mankind. However, some of the issues that big tech companies are raising about data security and targeted advertising are raising fears among users.

Web 3.0, often referred to as the future of the Internet, is another version of the Internet that addresses these issues. It aims to reduce the concentration of power among the big tech companies in the industry and restore efficiency in the hands of creators.

It has four main principles: it is decentralized, permissionless, supports its own payments, and is trustless. These principles allow it to achieve its goal and work smoothly. As the concept of Web3 becomes more popular, individuals are taking on the challenge of creating technologies that enable rapid adoption of Web3. Let’s take a look at some of these companies.

1. ShareRing

ShareRing is a blockchain-based platform that allows you to create and use self-verifying credentials for Web2 and Web3. It is designed to ensure the digital future of individuals and companies. It is a blockchain digital identity ecosystem with features that allow users to create and use their digital identities in the real world. Its main goal is to eliminate friction in the world, and digital IDs help pave the way forward. It is embodied in the mission to build a global blockchain ecosystem that embraces trust, privacy and diversity for people of all backgrounds and communities.

2. Theta network

Theta Network is a blockchain-focused media and entertainment project. It has a sprawling infrastructure that enables existing video and media platforms to generate more revenue and lower content delivery costs, while rewarding end users for sharing storage and bandwidth. It is a dual network consisting of two complementary subsystems: the Theta Blockchain and the Theta Edge Network. The Theta blockchain enables payment, rewards and smart contracts, while the Edge network is responsible for the storage and delivery of media assets. The Theta Network is not a decentralized YouTube. Instead, the underlying blockchain supports next-generation Web3 video streaming and multimedia entertainment platforms.

3. Brave

The current internet user is prone to hackers and is bombarded with several ads every day. Brave is a company that focuses on protecting the privacy of Internet users. It includes several sets of online privacy tools, such as a browser and search engine, that protect users from ads, trackers, and other online privacy issues. It also has Brave Wallet, a secure crypto wallet built right into the browser that saves users from the hassle of multiple extensions and extra downloads. Users can buy, store, send and exchange assets from their Brave Wallet.

Other features from Brave include Brave Firewall + VPN, Brave Talk, Brave News, Brave Playlist and Brave Rewards.

4. Point network

Point Network is a set of software tools that allow access to Web 3.0. It is open source software developed by a community of like-minded people who care about the principles of early Web 3.0. It contains several decentralized features that contribute to its unique nature. These decentralized features include decentralized domains, decentralized storage, and decentralized identities. It also has its own separate browser called Point Browser. Point Browser is a decentralized browser that allows users to access only decentralized websites and content. It interprets and executes input as the user wants, and can quickly propose or develop Web3 standards, leading to a less chaotic user and development experience.

5. Ethereum Name Service (ENS)

ENS is a distributed open naming system based on the Ethereum blockchain. Its job is to map human-readable names like “ruth.eth” to machine-readable identifiers like Ethereum addresses, addresses of other cryptocurrencies, content hashes, and metadata. With ENS, users no longer need to worry about copying and pasting long addresses; they can use their ENS name to store all their addresses and receive any cryptocurrency, token or NFT.

ENS has similar goals to the Internet Domain Name Service. Like DNS, ENS operates on a system of hierarchical, dot-separated names called domains, with the owner of the domain having full control over the subdomains.


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