CRYPTO

Web3 will be powered by Crypto Network Collaboration


And what we can learn from the Linux development model

Harry Alford, Business Development Manager, Coinbase Cloud

Where Web 1.0 was the static web, and Web 2.0 was the social web, Web 3.0 would be the decentralized web. It will take us away from a world where communities contribute but are not entitled to ownership or profit where they can through collaboration. Moving away from centralized business models to benefit corporations, Web 3 predicts the potential for a scale of community-centered economies. This collaborative attitude, and the associated motivational process, attracts some talented and ambitious developers working in technology, unlocking projects that have never been possible before.

Web 3, as Ki Chong Tran once said, “is the next major iteration of the Internet, promising control over the centralized corporations that dominate the Web today.” Web 3-enabled collaboration is made possible by decentralized networks that do not control a single entity. What can we expect in this new development of collaborative technology instead of competition?

In close-source business models, users trust business people to manage funds and run services. With open-source projects, users rely on technology to perform these tasks. In Web 2, the big network wins. In Web 3, that creates the largest network Together Won.

In a decentralized world, participation is not just open to all, the incentive framework is designed in such a way that the more people participate, the more successful everyone is.

Learning from Linux

Linux, the open-source software created in 1991 that is behind most of Web2’s websites, was an exemplary change in how the Internet (Web2) was created and provides a clear example of how collaborative processes can drive everyone’s future. Technology development. Linux was not developed by a current tech giant, but by a group of volunteer programmers using network collaboration. Network collaboration is when autonomous people share information independently without central control, instead supported by code or blockchain.

Inside Cathedral and market, Author Eric S. During the rise of the Internet, Raymond portrayed a time when the popular mentality was to develop complex operating systems, carefully integrated by a small, exclusionary group – the “cathedrals”. Cathedrals are traditional theological corporations and financial institutions, long releases that take longer to perfect.

According to Raymond, Linux evolved in a completely different way, explaining that “the standard was maintained not by strict standards or dictatorships but by simple publishing techniques every week and by getting feedback from hundreds of users in a matter of days, a kind of Darwinian selection by developers Introduced mutations. To the surprise of almost everyone, this has worked quite well. This Linux development model, or “market” model such as Raymond, assumes that “bugs are usually a shallow phenomenon” when confronted by an army of hackers without significant coordination.

The open development policy of Linus Torvalds, which contains the Linux kernel, was far removed from the cathedral-building. Linus users were its co-developers. Cultivate a community while scaling collaborations up to the level of intensity to match the complexity of the users. Linus did a lot of things right, such as publishing quickly and often, expanding a beta list of users, sending out encouraging announcements to participate, and he listened to (and credited) the beta testers.

Since Linux represents software built by network participants rather than a single cathedral, Web 3 represents an Internet operated by a large portion of network participants rather than a version of Web 2 influenced by a few controllers.

Evidence of partnership: Web 3’s collaborative testing area

Crypto is a technology model for building projects where users are centered instead of the company. The motivation to do something safe and usable is possible by everyone. One area where every user maintains some level of participation is the proof-of-stake protocol যা which is also a fast-growing industry sector. Upgrades to the Ethereum network could turn crypto stacking into a 40 40 billion industry by 2025, according to JPMorgan. Along with the evidence of partnership, there are levels of participation that prevent the “cathedral” from happening.

Although there is a team behind each chain, in the end, the design of a decentralized network means they will not have complete control. At different levels of participation, multiple groups of users play an important role in aligning with key features such as governance and scalability.

Developers will implement a version of Protocol Partnership Proof as they move away from proof of work for greater power efficiency and scalability, where users share tokens (cryptocurrencies) to run legitimacy for a particular network. Service providers or retail users, commercial or institutional, users are encouraged to secure the network by locking tokens and are rewarded in the form of local tokens of the network. Legitimacy can be reduced for misconduct such as double signing block or downtime. Penalties include losing existing funds and not receiving rewards in the future. Stacking is your voice, good behavior is encouraged to increase the number of participating users, and the network can grow safely without the need for centralized control.

Since evidence of the Stack protocol is in development at a relatively early stage and is newer than evidence of a working protocol like Bitcoin, it is frequently upgraded. Operators and co-developers rely on network updates and offers. Polcadot, for example, is a web platform, a shaded protocol that enables blockchain networks to operate seamlessly together. Polkadot uses user-driven governance to upgrade networks. The loose combination is “on-chain and autonomously crafted, to ensure that Polkadot’s development reflects community values ​​and avoids stagnation.” When networks see limitations of current stacking parameters, they impose restrictions to ensure network stability. The community changes the terms of service, not the company.

Rewards are the incentive process for those who run the node, but not every discipline attracts users to the primary purpose of the financial return. There needs to be mathematics, culture, socialization and purpose to use the network. Blockchains will continue to be abstract in Web3. Millions of customers buying NFTs from OpenSea, the first NFT marketplace to pass $ 1 billion in monthly trading volume, probably do not support polygons, Will completely eliminate gas fees for buyers and sellers, ”according to TechCrunch. Nor do they ultimately think that the Degenerate Ape Academy is built in Solana, which is a proof-of-blockchain. Collectors only think about adding rare images of cartoon apps to their portfolios. They provide memetic values ​​created by other users at the top of the underlying protocol. Unknown to most crypto gamers and art collectors, the more usage there is, the stronger the network will be.

Although abstraction can temporarily bring new users into space, institutional users want to be reassured for the long term by solid technology, which means, in some cases, support blockchain cathedrals. Provence is a proof-of-stock blockchain network developed by Figure, a home equity line of credit producers, to help meet the needs of the financial services industry by providing multiple financial assets and ledgers, registries and exchanges across markets. The chain is managed and operated by large financial institutions such as Franklin Templeton and Caliber Home Loans.

Financial institutions, despite the traditional tactical practice of their central control, are encouraged to run nodes because they receive transaction fees. They are encouraged to participate because some aspects of their business are cheaper using Web3 and blockchain technology than their old Web2 process. Even as a cathedral, they have unique incentives driven by evidence of the Stack Protocol.

Since decentralized teams play less of a role in managing protocols, individual participants only manage the protocols required by smaller organizations. However, participants still need to be encouraged to participate in the protection, use, and construction of the protocol. All of these examples make the market and Web 3 network collaboration so successful – an alliance of autonomous users who are constantly stimulated while working towards a common goal.

In this case, the medium is the blockchain: the network that stores, transfers and exchanges prices. As Raymond put it, “Linus kept his hackers / users constantly stimulated and rewarded িত stimulated by the possibility of having an ego-satisfying part of the action. Rewarded by the constant (even daily) improvement of their work.”

Linux was a catalyst for creative thinking that is manifesting itself in Web 3, today and its exciting future. The cathedrals, however, still exist and it is not clear whether Web 2 will be fully converted to Web 3. How can technology actually belong to humans and Web 3 be driven entirely by network collaboration? Does it have to be zero-sum? It is a leap of faith. Cathedrals that enable rental behavior, and are so bound by the Web2 economic and business model, need to continue to embrace their markets, leaning towards how these communities work from the bottom up.

Web 3 may not be the final answer, but it is the current iteration, and it is not always clear at the beginning of the invention. Loot “started with a list of fictional gears, with enough decentralized imagination.” As long as talented creators are encouraged to collaborate, Web 3 can open up a whole new world that we never even dreamed of.

The market model partially reconstructs the world of commercial software as images such as crypto network collaboration will inevitably replace traditional themed business models. Centralized companies cannot win without embracing decentralization to some extent and those who do something will be decades ahead of their competition and will probably do some good work.

Network collaboration utilizes the brain power of the community and has commendable promise. We have seen an explosion of interest in crypto that continues in parallel if the principles set by Linus Torvalds are not followed. The future of the Internet “Those who leave the cathedral and embrace the market.”

This article was originally published in 1 published TechCrunch.


Web 3 will be powered by a collaboration of crypto networks originally published in the Coinbase blog in the media, where people continue the conversation by highlighting and responding to the story.





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