Month: April 2022

The internet we know today is about to change, not immediately, but over the next few years. We are currently surging toward a transition from a web 2.0 architecture, to a web 3.0-based one. With it, the way we navigate, communicate, and access digital information will change.

To many, the concept of web 3.0 flies over their heads, as the core principle that’s rattling around everybody’s minds is, why does it need to change, and why should I care?

Well, to answer this question we must first understand how we are currently accessing the internet. As many of you know, our entire outlook of the digital world is controlled by a handful of companies, like Facebook, Twitter, Google, Microsoft, etc…

And some have branded the way we access the internet like slaves being told what information we think we want to see. What many people haven’t realized is that our entire digital existence is controlled by these companies.

How this has been done, and many of you have heard about it, and that’s through the mass collection of personal data. We have unwittingly handed these companies our personal data on a silver platter, giving them permission to manipulate our views and reinforce conventional beliefs that have created the most polarized social-economic structure in the history of the world.

Well, this is fundamentally at the core of the next generation internet that we call web 3.0. Regardless of the hype around cryptocurrencies, it’s actually this new distributed, decentralization, that should be the main focal point of the industry.

Taking back control of your data, and the internet

This brings us to what web 3.0 is, and what does it have to offer? Well, in simple terms, the idea of web 3.0 will be that users will have complete autonomy over how their data is used, ultimately giving control of data back to the people.

In a web 3.0 architecture, people will be able to remove the need for centralized authorities I.e Facebook, Google, etc… and bypass their services to get the same, or similar, information without divulging their personal information.

No one knows exactly what web 3.0 will eventually look like, but there are some key characteristics that are beginning to take shape. These characteristics are as follows;

Decentralized & Centralized: The web 3.0, contrary to popular belief will be both decentralized and centralized, as every participant upholding a network’s integrity will become their own centralized location.

Organizational structures in the form of a DAO: Companies in the future may adopt a DAO (decentralized autonomous organization) structure. This can be regarded as one of the highest forms web 3.0 could develop into, whereby businesses are no longer run by a group of individuals, but instead run by a mass amount of people.

Complete control over your data: Any, and all data, will be owned by the individual, and any revenue that data generates. The core concept is that the freedom of data collection for companies is over.

Authentic rights over identity: Your digital identity online is entirely up to the individual, as you’ll have the choice of whether you want to remain open, partially open, or completely hidden across web 3.0.

Sustainability: The current web 2.0 architecture has numerous sustainability, and scalability problems associated with it, as networks crash constantly, and we are confined by the internet/bandwidth speeds. In a web 3.0 architecture, these issues can be overcome, as there will be a combined network of edge computers, etc…. upholding a network’s integrity.

As you can see, these problems have been prevalent throughout the 21^st century, but have never really been solved, until now, with the rise of blockchain technology, we are finally at a stage where the internet can evolve by solving these problems.

Where does NetFlowCoin fit into the web 3.0?

So after defining the issues with web 2.0 and the direction web 3.0 is heading, where does NetFlowCoin fit into all of this? Well, NetFlowCoin’s network is a P2P communications network, that operates in the same way we communicate across the current internet. The only difference is that it is completely peer-to-peer, meaning anyone accessing the NetFlowCoin network is subsequently bypassing the need for third-party intervention.

The NetFlowCoin network, in essence, has created the foundation bed for a decentralized web 3.0 internet. Users will have the freedom to store, stream, and share any type of digital content from anyone, with anyone, across the globe.

A decentralized internet isn’t new, it has been around for years, but, with the combined technology of the blockchain, and the hype surrounding cryptocurrencies, people are now incentivized to support a network’s integrity.

A similar function has been applied to the NetFlowCoin network, whereby miners are rewarded by contributing digital content, and internet bandwidth, that generates data traffic. This data traffic is converted into NetFlowCoin rewards.

The previously conceptualized distributed internet model has not been made possible, as there was no network that can support the mass adoption of a P2P communications network, and reward people simultaneously, at least not until today. NetFlowCoin’s vision is to build out a global network that rewards all who participate, creating a win-win internet for all.

We are beginning to see signs of the emergence of a decentralized internet. But, many people are still unaware of what this new internet will act like. No one knows for sure exactly how web 3.0’s development will eventually unfold, but the signs are clear as to what users will be able to do with it. 

Throughout the 21st century, data has been at the forefront of discussion when discussing the legacy web 2.0 internet. Whereby, large private organizations have been harvesting massive amounts of data from the public and selling it to other organizations without compensating the owners at all. 

In a web 3.0 architecture, the keyword that’s buzzing around is ‘ownership’, and this ultimately means that users/individuals will have full control, I.e “ownership”, over all their data and content. Let’s break this down into how exactly this will be done. 

A new communications network, owned by the people

Digital messaging is an aspect that many cannot live without. Over the years many messaging applications have revealed privacy flaws that leave many user accounts vulnerable.

Currently, a centralized architecture usually stores and records all of an individual’s messages. How this works is, person A sends a message to person B. But that message doesn’t travel directly from person A to B. It instead travels from person A to the service provider, whether that be Facebook, Tencent, or other service providers, and then gets sent to person B. This information is stored on a centralized server that can access your history at any time. 

What a decentralized communications network can do is, open a direct line between person A and person B, to allow direct messaging, completely removing the storage aspect of a service provider. Not only is the message completely private, but no one can see any information between the two parties. 

Although the web 2.0 is dominated by companies such as Amazon, Google, and Facebook, a web 3.0 decentralized internet will not push the attention away from these organizations but instead creates an opportunity for them to work with a web 3.0 architecture. 

As data will still be an important aspect for these companies, there could be a hybrid model whereby these organizations pay individual users monthly for access to their data. 

There are numerous obstacles that stand in the way of a decentralized internet, but one main concern will be access to the information we see today. This poses a challenge for Dapp developers to create a system that enables similar information to be categorized and stored among numerous nodes within a decentralized network. 

Currently, decentralized storage is slowly becoming more popular, but, blockchain projects have still yet to solve the access to content sharing and streaming model that we see in a web 2.0 network. Aside from the NetFlowCoin Foundation, there are no other companies that can take on this challenge. 

This is an aspect that many fans of the new internet must take into account. The internet is basically one huge library of information, and so, in order for a decentralized internet to offer similar information, there must be mass adoption of content creators all contributing similar content as they did on the web 2.0 to the web 3.0. 

Individual identification management systems on a web 3.0 network

A people’s-owned internet can also break down the barriers of identity management systems. Something that big-name companies have been unable to achieve. Not through lack of trying, but the liability would be too great if they were to be hacked. 

A decentralized internet can actually be used to enable an identity method that enables users to access any type of content, Dapps, and services without having to create numerous accounts to do so. Instead, have one account to access all. 

This can be achieved, as a decentralized internet architecture will be used in parallel with blockchain technology that uses systematic consensus mechanisms that can authenticate a person’s identity without actually revealing any information about that person. 

Although this system will have numerous issues when implemented on a government level, daily use of accessing the internet can be a viable solution that not only protects private information about an individual but also makes access smoother and more simple than what we see today. 

The decentralized internet will not be an easy transition

The transition from a web 2.0-based internet infrastructure to a web 3.0-based one will be accessed differently from what’s being used today. A decentralized internet will ultimately be shaped by numerous distributed nodes across the globe.

Accessing these nodes’ content will need touchpoints in the form of some type of portal. As many blockchain’s networks are designed to solve different issues, it will be hard for users to continually cross between different platforms to access the content they’re looking for.

This means companies need to create a cross-chain solution that will enable users to move seamlessly across different networks and access the services provided on those platforms. The next generation internet seems to be moving toward the direction that will be comprised of numerous blockchains all connected together through a bridging protocol.

Although there are not many chains dedicated to acting as a foundational layer for web 3.0. The NetFlowCoin foundation’s chain is working toward building the underlying network that will support the entirety of the new internet.

As these chains have set out to solve specific problems, NetFlowCoin’s protocol is the communications layer that will enable users to interact with the web 3.0 similar to how users currently interact with the web 2.0.

Through a bridging protocol, NetFlowCoin’s network could be integrated alongside other chains within the industry, generating the glue needed to combine and expand the new internet into what everyone is envisioning it to be.

In conclusion: Decentralization is the future, and no one can stop it

Although there is hype around the novelties that we are seeing today, in terms of NFT (non-fungible tokens), virtual real estate, and cryptocurrencies. The bigger picture is more than what is being spoken about on the surface. 

We are part of a digital evolutionary stage that has unlocked a path for the people to control what is seen, used, and shared online. The way in which we can communicate can be changed, and no longer be confined by the keyhole that so many companies are forcing us to only see-through. 

Governments, media, and conglomerates will now need to adapt and change their digital strategy to be a part of this people-first decentralized internet and give value instead of blockades for what is to come, and for what is deemed the future.