The Paradox of Growing Web3 to Web2 Scale - TOKEN2049 London 2022
Explore the critical insights behind scaling Web3 technology to the size and influence of traditional Web2 platforms, as presented at TOKEN2049 London 2022. In this compelling talk, Tao, co-founder of Orbs.com and mentor at the DeFi.org accelerator, delves into the core differences between Web3 and Web2, highlighting the shift from corporate-driven centralization to a user-centric, decentralized internet.
The discussion tackles the potential and challenges of Web3. Despite the revolutionary advantages—permissionless access, true data ownership, and censorship resistance—it significantly trails Web2's colossal reach of five billion users with only about 20 million users. Tao examines the infrastructure capabilities of modern blockchains, their ability to scale almost infinitely, and addresses why, despite technological readiness, user adoption remains sluggish.
The speaker also identifies market initiatives by massive user bases like Telegram and Facebook and their respective blockchain projects, illustrating both opportunities and hurdles faced in mass adoption. Yet, he posits that the real barrier is accessibility for average users—the trustless system is inherently complex, demanding self-reliance that many users cannot muster.
To bridge this gap, innovative solutions like Orbs' decentralized trustlessness scoring system for Web3 projects are proposed. This system aims to transparently inform users about the trustworthiness of a protocol before engaging with it, potentially revolutionizing how users interact with blockchain technologies.
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