Huobi Global: Moving from Web 2 to Web 3.0

Huobi Global: Moving from Web 2 to Web 3.0

The first web page was published by Berners-Lee in 1991 and the world has since made great strides in the age of connectivity and completed the transition from Web1 to Web2. The Internet has evolved from a “read-only information display platform” to an “interactive content production network”, and users interact with online content more than ever before.

The scale of the Internet began to expand rapidly as users increasingly took responsibility for content creation. Search engines represented by Google, social networking sites such as Facebook and Twitter, video communities such as YouTube and Tiktok, and knowledge communities represented by Wikipedia have become a tangible and integral part of people’s lives.

It’s been 30 years since the first web page was launched, and a lot of digital progress has been made since then. But we are still in the Web2 era, and the disadvantages of this era are becoming more and more obvious. We must go back to the original purpose of the web. The primary purpose of the World Wide Web in 1989 was to alleviate the problems of information transfer and sharing among researchers from all over the world.

But in the Web2 era, the Internet has deviated from its original purpose. The transition of users from mere buyers of information to the role of creators has not only changed their digital behavior, but the data generated from their behavior is retained and used for profit by Web2 tech giants. The Web2 era saw users’ personal data no longer belong to them alone and was seen as an era that experienced a serious erosion of security and privacy. But the upcoming Web3 era promises to dismantle the concept of big tech giants and their ownership of user data.

In 2014, Ethereum co-founder Gavin Wood first proposed the concept of Web3 on his blog. A Look at a Modern World and proposed a new Internet operating mode: information will be published and stored by the users themselves; will be untraceable and never leaked; No intermediary is needed to assist with data transfer.

Solving Web2’s pain points with Web3

in a blog post entitled Why We Need Web3 Gavin Wood explained how Web3 will address the design flaws of the Web2 network:

Web3 is a comprehensive set of protocols that provide building blocks for application builders. These building blocks replace traditional web technologies such as HTTP, AJAX, and MySQL, but offer a whole new way of building applications. These technologies give the user strong and verifiable guarantees about the information they receive, what information they provide, what they pay for, and what they get in return.

By empowering users to act for themselves in low-barrier markets, we can ensure that censorship and monopoly have fewer places to hide. Think of Web 3 as an executable Magna Carta – “the basis of the freedom of the individual against the arbitrary authority of the despot”.

Will our lives change?

If Web 3.0 can truly create a new global digital economy and create new business models and markets, what impact will it have on people’s lives?

Some experts say that if the monopoly of the platform can be broken, we can prevent the platform from invading our privacy and freedom. For example, such a scenario would see our login time, search history, photos and posts on Facebook no longer saved and stored by Meta – instead our browser is our own personal database. We can transfer this information from Facebook to other platforms at any time.

According to Gavin Wood, Web3 will look little different from Web 2 from a user’s perspective, at least initially. “We will see the same display technologies: HTML5, CSS, etc. On the backend, technologies like Polkadot, Parity’s cross-chain blockchain protocol, will connect disparate technological issues into a single economy and “movement”.

He also mentioned that in the Web3 world web browsers could be called “wallets” or “keystores”. Scanners (and components like hardware wallets) will represent a person’s assets and identity online, allowing people to pay for something or prove who they are without having to contact a bank or identity service.

The Role of Centralized Exchanges in Transition

Based on the above analysis, we can conclude that Web3 must have the following four features in order to break down the current monopoly of Internet giants and protect the interests of every Internet user.

  • Unified authentication system
  • Decentralized operation network
  • Data approval and authorization
  • Privacy protection and censorship resistance

Blockchain technology, with its unique features such as decentralized storage, immutability, and information encryption, will become the core technical capabilities of Web3.

Huobi Global, the world’s leading cryptocurrency exchange, has been deeply involved in the cryptocurrency and blockchain industry for nine years. What role will it play in this change and how will it help users transition from Web2 to Web3?

  • DID identification system for web3 resident

Web3 requires a new identity system as it is a decentralized world. Decentralized Identifiers (DID) is the identification system for Web3 residents. DIDs can correspond to multiple identities and require more applications to support on-chain data accumulation, including social networks, games, and more.

As of now, Huobi has made significant progress in creating DID – around 700,000 Huobi users have received DID. The year 2022 should see social networking and NFTs used as gateways to enable more Web3 application scenarios for DID users.

  • Accelerate infrastructure construction

Blockchain technology, which is the basic infrastructure of the Web3 world, is still in its infancy. The challenges of infrastructure projects have been observed in three main aspects:

1) The demand for the application layer is growing very fast;

2) Technical difficulties have been demonstrated and not yet fully met by the technical teams;

3) External factors such as regulation, financing challenges and more face promising projects.

With nine years of experience in the crypto and blockchain industry, Huobi is committed to leading the development of the entire industry in technological innovation through various forms of support. For example, Huobi OptimismPBC has invested in zkSync and other high-quality Layer 2 programs and is willing to take the role of an active partner in high-potential project teams to address these pressing issues.

  • Introduction to the web3 economy

Amongst the myriad of crypto assets available today, with its digital scarcity, uniqueness and verifiability attributes, NFT provides confirmation of digital ownership and plays a pivotal role in entering the Web3 era. NFTs undertake the transfer of value of real and virtual assets and enable users to participate in virtual activities both offline and online. Huobi is focused on building a cohesive NFT platform and community that enables more creative developers, artists and users to participate and mutually reap the benefits offered by the industry.

In addition to NFT assets, Huobi Global has listed over 500 high-quality crypto assets from various Web3 segments, including NFT, DeFi, GameFi, and SocialFi, to enrich the future of the World Wide Web. Infrastructure and application tokens, such as some Tier1 blockchain projects, are Huobi’s primary considerations for listing, and such assets have great potential to play vital roles in the Web3 economy. With its strong expertise in finance and research, Huobi will also provide a range of tools and services to accelerate the transition for users and companies.

As a result

The transition from Web2 to Web3 presents many challenges for users. Centralized exchanges such as Huobi Global are well positioned to offer more opportunities to both current and promising innovative projects, enabling Web3 residents not only to keep pace with the development of the industry, but also to take advantage of this promising innovation. age.

While it is impossible to predict when the first Web3 success will come, Huobi Global and its users are quietly preparing and waiting for the Web3 world that could bring a whole new meaning to the term “Digital Age”.

Disclaimer: This is a paid post and should not be considered news/advice.

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