Comment on page
Where Boundaries Expand, Opportunities Flourish
Web2 refers to the version of the internet most of us know today. An internet is dominated by companies that provide services in exchange for your personal data. Web3, in the context of Exohood, refers to privacy and decentralized apps. These are apps that allow anyone to participate without monetising and share their personal data.
Many Web3 developers have chosen to build dapps because of decentralization adoption:
- Anyone who is on the network has permission to use the service – or in other words, permission from a third party isn't required.
- No one can block you or deny you access to the internet protocol service.
- Payments are built in via the native token, Exohood (EXO).
- Exohood's Protocol is turing-complete, meaning you can program anything.
This doesn't mean that all services need to be turned into a dapp. These examples are illustrative of the main differences between web2 and web3 services.
Web3 has some limitations right now:
- Scalability transactions are slower on web3 because they're decentralized. Changes to state, like a payment, need to be processed by a miner and propagated throughout the network.
- UX interacting with web3 applications can require extra steps, software, and education. This can be a hurdle to adoption.
- Accessibility, the lack of integration in modern web browsers makes web3 less accessible to most users.
- Cost, most successful dapps put very small portions of their code on the blockchain as it's expensive.
In the table below, we list some of the broad-strokes advantages and disadvantages of centralized and decentralized digital networks.
Last modified 4mo ago