Recently, I've been reflecting on a question: why, after discussing so much about Web3 knowledge, am I still unable to explain to those around me what Web3 and blockchain are in the simplest and most understandable way? This is indeed a bit of a failure. Where does the problem lie? Through continuous communication and feedback, I seem to have found the answer: it’s about not visualizing the concepts. People only hear some vague terms and do not form a concrete outline of Web3 itself, which is the key reason most people struggle to grasp it.
The explanations of Web3 that we often hear generally fall into the following categories:
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Web3 is the next generation of the internet, aiming to build a decentralized, user-controlled internet.
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Web2 is the information internet, while Web3 is the value internet. What does this mean? Web2 is the current internet, which is the digitization of information, but the control over data and value still lies in centralized platforms. Web3 introduces the concepts of digital currency, NFTs, and tokens, assigning ownership to the data we generate and giving them value.
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Web1 is read-only, Web2 is read-write, and Web3 is read-write-own. What does this mean? The early internet was just a static page, like an online library, where you could only view content without interaction, hence it was read-only. Web2 is the current internet, like social platforms where you can post and like, making it read-write. However, your data resides with these platforms, which can delete your content, restrict your account, or even sell your data. Web3 is a decentralized internet that allows you not only to enjoy the convenience of the internet but also to own the data you generate, meaning it is ownable.
After hearing all this, I wonder if everyone has formed a preliminary understanding of Web3? I find it quite difficult. Now, let me explain it in another way. First, let me ask everyone a question: what is the internet? What do you think of first? I believe it’s probably not the concept of the internet; it’s likely the apps we frequently use, such as WeChat, Google, or Weibo. What about Web3? Similarly, we just need to compare a Web3 application with one of our commonly used applications, and everyone will understand.
Let’s randomly take two applications for comparison: one is a decentralized application (DApp), and the other is a traditional application (App).
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Architecture: First, let’s look at its architecture. We say that DApps do not require servers, which is not entirely accurate, but it’s close enough. DApps are decentralized and run on a blockchain network, unlike Apps, which are centralized and rely on servers and databases.
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Data Storage: Where data is stored is very important. We often say we need to own our data, and this comparison makes it clear. DApp data is stored on the blockchain or decentralized storage systems, while App data is stored in the cloud or on company servers.
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Control: The code and protocols of DApps are usually open-source, with code automatically executing protocols, allowing users to interact directly through DAO community governance. In contrast, Apps are completely controlled by companies or developers, who can suspend accounts, delete content, and restrict your usage rights at any time.
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Login Method: Apps require a username and password to log in, such as WeChat or Google accounts, while DApps use decentralized identity login, where a single wallet can log into most applications on the market. This not only protects your privacy but also allows you to control your own data, and most importantly, it cannot be banned.
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Fund Management: Apps have centralized institutions like banks to manage funds, and transactions depend on them, while DApps manage funds through wallets, allowing users to control their own assets, with transactions typically using digital currencies for payment.
Of course, there are other aspects, such as security; App servers can be hacked, and data can be easily tampered with, while DApps rely on blockchain to avoid single points of failure, though they may have vulnerabilities in smart contracts. From an efficiency perspective, DApps are limited by the TPS (transactions per second) of the blockchain, making their performance relatively weaker, while Apps do not have this issue.
To summarize:
- DApps run on the blockchain, while Apps run on traditional servers.
- DApps are more transparent, with data on-chain and immutable, while Apps rely on centralized companies for maintenance.
- DApps depend on wallets and cryptocurrencies, while Apps rely on traditional login and payment methods.
- DApps currently have limited performance and are not as smooth as Apps, but they are more decentralized.
I wonder if these examples will enhance your understanding of Web3, but you may still have questions about how it can achieve this. So we need to delve a little deeper into its underlying technology: what is blockchain? I will continue to explain with examples.
First, let’s remember a phrase: blockchain is a distributed ledger. Now, let’s assume there are 100 people in our room, and we will play a game called the decentralized accounting game. There is an audience member named Zhang San, who acts as the "centralized accountant," representing the centralized system of the traditional internet. He is responsible for recording all transactions; if we need to transfer money or make a transaction, we can only let him record it, and we can only trust that his records are correct. What problems might arise? If one day this accountant loses the ledger, or alters it, or commits fraud, or suddenly quits, it could lead to the collapse of the entire system.
Now, entering the world of blockchain, we let all 100 people present act as accountants, which are the "nodes" on the blockchain. Each person has a ledger and can synchronize transaction information. Suppose I want to transfer 10 yuan to an audience member named Li Si; I won’t just tell the central accountant Zhang San, but will broadcast to everyone: "I am transferring 10 yuan to Li Si!" At this point, everyone hears this transaction information, and each person can record it in their own ledger.
Now, a question arises: who is responsible for writing into the official ledger? A key identity needs to come into play: the miner. In blockchain, accountants compete to confirm the transaction, and this process is called the consensus mechanism. How do they compete? Each situation is different; for example, Bitcoin’s PoW mechanism involves solving a problem, and whoever solves it first gets the right to account, while Ethereum’s PoS mechanism randomly selects the right to account.
Now that the accountant has recorded this information, what if he cheats? I transferred 10 yuan, but he records 100 yuan. Once the accountant confirms the transaction, everyone will check whether this accountant cheated. If the majority agrees that the transaction is legitimate, then this transaction is written into the ledger, and everyone’s ledger will be synchronized. At this point, the blockchain's characteristic of "immutability" is demonstrated. If someone wants to commit fraud, everyone must agree for it to happen.
Another key factor is that this ledger is not just a separate transaction record; it is linked page by page. Every so often, everyone will package a new batch of transactions into a new "block" and link it to the previous block, forming a "blockchain." Therefore, once written, it cannot be changed.
Simple, right? This is the operational logic of blockchain. Who would have thought that a simple distributed ledger could give rise to a new world? To summarize:
Decentralization: Unlike the traditional internet with only one accountant, now everyone is an accountant, no longer relying on a single institution.
Transparency and Trust: All transactions are public, and everyone can verify the authenticity of transactions, eliminating fraud.
Immutability: Once a transaction is written into the blockchain, it cannot be arbitrarily modified, ensuring data security.
Thus, we conclude our explanation of Web3 and blockchain. I wonder if anyone has new insights; I hope this is helpful to everyone.
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