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    Shicheng Wan, Lin Hong, Wensheng Gan, Jiahui Chen, Philip S. Yu

    Since the first appearance of the World Wide Web, individuals have increasingly relied on the Internet for cyber social activities. The second phase of the World Wide Web, known as Web 2.0, has extensively attracted worldwide people who participate in …

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    Since the first appearance of the World Wide Web, individuals have increasingly relied on the Internet for cyber social activities. The second phase of the World Wide Web, known as Web 2.0, has extensively attracted worldwide people who participate in creating and enjoying the virtual realm. Today, the next Internet revolution, Web3, will open new opportunities for conventional social models. The decentralization property of Web3 is capable of breaking the monopoly of Internet corporations. Moreover, Web3 will lead to a paradigm shift from the Web functioning solely as a publishing medium to one that fosters intensive interaction and participation. This shift will profoundly influence the interactions between users and platforms, relationships within production networks, and global economic models. As a result, it is necessary that this article technically, practically, and more broadly take an overview of Web3. This article presents a comprehensive survey of Web3, focusing on current technologies, challenges, opportunities, and outlook. This article first introduces several key technologies underlying Web3. Then, some types of Web3 applications (e.g., blockchain) are illustrated in detail. Blockchain and smart contracts ensure decentralized organizations are less trusted and more truthful than centralized ones. Decentralized finance will be global, and open with financial inclusiveness for unbanked people. This article also discusses the relationship between the Metaverse and Web3, including the differences and similarities between Web 3.0 and Web3. Drawing inspiration from Maslow’s hierarchy of needs theory, a novel hierarchy of needs theory within Web3 is proposed. Finally, several worthwhile future research directions of Web3 are discussed.

    Bin Cao, Zheng Yan, Xu Xia

    Different from “read” based Web1 and “read-write” based Web2, “read-write-own” based Web3 is proposed as a typical user-centric internet to open the new generation of World Wide Web, which is expected to not allow the power to rest with a …

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    Different from “read” based Web1 and “read-write” based Web2, “read-write-own” based Web3 is proposed as a typical user-centric internet to open the new generation of World Wide Web, which is expected to not allow the power to rest with a few big internet companies. Generally, Web3 is decentralized and semantic depending on user behavior, and thus the zero-trust architecture should be created initially. To hasten its arrival, a comprehensive discussion on its architecture and enabling technologies is inspired. Specifically, to access Web3, it is essential to study how to establish an identity management system. Meanwhile, for resource description and data verification, it is necessary to set up decentralized identifiers (DID), and link the data to identifiers in the form of DID document. In particular, a decentralized network operating system is an indispensable underlying technology for Web3, incorporating concepts such as decentralization and user-driven philosophy. Therefore, the corresponding technologies for the operating system such as blockchain and distributed ledger technology should be further studied and developed. Moreover, in order to reduce the consensus cost, a large-scale incentive mechanism is also the basis of long-term sustainability, which can attract and motivate distributed players to participate in the maintenance of Web3. Last but not the least, Web3 is built on a physical infrastructure relying on communication, networking, storage and computing, which is crucial to establishing an effective and secure Web3. This encourages us to study communication, networking, storage and computing in Web3, as well as the specific requirements of running Web3.

    Jathan Sadowski, Kaitlin Beegle

    The self-proclaimed usurper of Web 2.0, Web3 quickly became the center of attention. Not long ago, the public discourse was saturated with projects, promises, and peculiarities of Web3. Now the spotlight has swung around to focus on the many faults, …

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    The self-proclaimed usurper of Web 2.0, Web3 quickly became the center of attention. Not long ago, the public discourse was saturated with projects, promises, and peculiarities of Web3. Now the spotlight has swung around to focus on the many faults, failures, and frauds of Web3. The cycles of technological trends and investment bubbles seem to be accelerating in such a way as to escape any attempt at observing them in motion before they crash, and then everybody moves on to the next thing. Importantly, Web3 was not an anomaly or curiosity in the broader tech industry. It articulates patterns that existed before Web3 and will exist after. Web3 should be understood as a case study of innovation within the dominant model of Silicon Valley venture capitalism. Our focus in this article is on understanding how the movement around Web3 formed through an interplay between (1) normative concepts and contestations related to ideas of “decentralization” and (2) political economic interests and operations related to the dynamics of fictitious capital. By offering a critical analysis of Web3, our goal is also to show how any even potentially progressive (or as we call them “expansive”) forms of Web3 development struggle for success, recognition, and attention due to the wild excesses of hype and investment devoted to “extractive” forms of Web3. In the process, they provide us a better view of how different arrangements of technopolitics can exist at the same time, side-by-side, in complicated ways.

    Eric Glen Weyl, Puja Ohlhaver, Vitalik Buterin
    Michael A. Wagner

    Der Begriff „Web3“, früher auch als „Web 3.0“ bezeichnet, hat seinen Ursprung in den Gründerzeiten des World Wide Web. In den letzten Monaten wurde der Begriff allerdings zunehmend zum Synonym für Blockchain Technologie und Kryptowährungen. Warum ist dem so? Der …

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    Der Begriff „Web3“, früher auch als „Web 3.0“ bezeichnet, hat seinen Ursprung in den Gründerzeiten des World Wide Web. In den letzten Monaten wurde der Begriff allerdings zunehmend zum Synonym für Blockchain Technologie und Kryptowährungen. Warum ist dem so? Der folgende Text ist der Versuch einer einfach zugänglichen Erklärung einer extrem komplexen Fragestellung.

    Linus Gasser

    Abstract Web3 is the next generation of the internet, often referred to as the decentralized or blockchain web. It aims to address the shortcomings of the current centralized web, such as privacy concerns and lack of control over personal data, …

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    Abstract Web3 is the next generation of the internet, often referred to as the decentralized or blockchain web. It aims to address the shortcomings of the current centralized web, such as privacy concerns and lack of control over personal data, by leveraging decentralized technologies like blockchain and peer-to-peer networks. The technology for Web 3.0 revolves around the possibility of each internet user managing their Pods. Pods are like secure personal web servers for one’s data. Furthermore, Web3 promises more power to the users and the removal of intermediaries between the users and the services. This can bring more privacy and better remuneration for the service providers on the internet.

    Sheridan, Dan, Harris, James, Frank Wear, Jerry Cowell, Easton Wong, Abbas Yazdinejad

    The inability of a computer to think has been a limiter in its usefulness and a point of reassurance for humanity since the first computers were created. The semantic web is the first step toward removing that barrier, enabling computers …

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    The inability of a computer to think has been a limiter in its usefulness and a point of reassurance for humanity since the first computers were created. The semantic web is the first step toward removing that barrier, enabling computers to operate based on conceptual understanding, and AI and ML are the second. Both semantic knowledge and the ability to learn are fundamental to web3, as are blockchain, decentralization, transactional transparency, and ownership. Web3 is the next generational step in the information age, where the web evolves into a more digestible medium for users and machines to browse knowledge. The slow introduction of Web3 across the global software ecosystem will impact the people who enable the current iteration. This evolution of the internet space will expand the way knowledge is shared, consumed, and owned, which will lessen the requirement for a global standard and allow data to interact efficiently, no matter the construction of the knowledge. The heart of this paper understands the: 1) Enablement of Web3 across the digital ecosystem. 2) What a Web3 developer will look like. 3) How this alteration will evolve the market around software and knowledge in general.

    Sabina Marchetti
    Ahto Buldas, Dirk Draheim, Mike Gault, Märt Saarepera

    Abstract The Web3 vision takes blockchain disintermediation to a next level by making it ubiquitous, encompassing not only payments and financial services but also digital identities, data and business models. Recently, Web3 has gained massive attention by major analysts such …

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    Abstract The Web3 vision takes blockchain disintermediation to a next level by making it ubiquitous, encompassing not only payments and financial services but also digital identities, data and business models. Recently, Web3 has gained massive attention by major analysts such as Gartner, Forrester, Forbes Technology Council and the Harvard Business Review. Albeit the current enthusiasm about Web3, we are lost in a state of confusion about what Web3 actually is – or could be. In this paper, we take an engineering approach. We discuss a potential foundation of Web3 in terms of fundamental components, architectural principles and a Web3 design space. We conclude that, from an engineering viewpoint, the Web3 can be characterized as the integration of digital rights exchange into the (application layer) internet protocols. Finally, on the basis of these findings, we discuss the Alphabill platform as a Web3 enabling technology.

    ANDREW W. PARK, Matthew Wilson, Karen Robson, Dionysios S. Demetis, Jan Kietzmann