Monday, May 27, 2024

Web 3.0 goes from surface to the underlying protocols according to Da Hongfei

Neo CEO and founder Da Hongfei has said that Bitcoin, decentralization ideology and blockchain technology allow everyone to innovate protocols. More inclusive and better maintained applications can be developed on the protocols of Web 3.0. He thinks Web 3.0 should not be seen as a simple replacement for its earlier 1.0 and 2.0 versions. This new infrastructure is much more. According to him, websites were the main applications when Internet started expanding fast in the 90s. It was a one-way traffic whereas data moved only from the content creators to the consumers. Users could not interact with the creators in real-time. The search engines were limited to a few options.

New Changes

Then came applications that allowed users to generate and share contents. The popular applications like Facebook, Twitter and YouTube made it possible. These places are similar to a marketplace where the outcome is decided by supply and demand. The downside of this development is that a few applications have become a monopoly in their industry. That is going to change with the blockchain technology and Web 3.0 innovations.

Metaverse Possibilities

Da thinks it is not possible to build interoperable and unified metaverse without the underlying infrastructure of latest Web 3.0. He calls metaverse world a tokenized online space. NFTs are going to be economics representing a wide range of assets. He believes Neo N3 is prepared for new metaverse applications. The company has come up with non-fungible token standards NEP-11. Many other NFT projects will be launched soon. These projects will include GameFi, Ghost Market marketplace (which is similar to OpenSea), and others.

Da believes N3 is ready to take advantage of Web 3.0 and blockchain technologies.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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