With “net 3.0” all of a sudden upgrading from an obscure space of analysis to a sizzling subject of mainstream dialog and a major a part of the 2020-s zeitgeist, increasingly questions come up concerning the nature of the beast. Is “Web3” going to remain a obscure and undefinable time period, or does it have a exact definition?
In addition to meanings that grew to become out of date years in the past, like ‘Semantic Internet,’ what’s including to the confusion are all of the tasks describing themselves as “decentralized” functions (dApps) or “web3”, giving the impression that web3 is already right here and alive.
But, as we all know, such tasks nonetheless rely closely on web2 parts: utilizing centralized domains that may be taken away at any second or compromised, centralized storage that’s censorable and clear to mass surveillance, and browser extensions like Metamask or Phantom that Google can disable at any time, which might instantly go away 99% of the customers of “decentralized” functions helplessly confused about how you can entry them. BadgerDAO, a DeFi mission hacked for $120M due to centralized UI, exhibits why this “Internet 2.5” method is within the unsuitable path.
World’s First Full Web3 Structure
To appropriate this, Level Labs started engaged on recreating all parts of the previous web with their decentralized implementations. As an alternative of clinging to current web2 scaffolding, the ensuing community, nicknamed Level Community, is a digital house utterly disconnected from the previous web, identical to blockchains are, which might now be referred to as Internet 3.0.
Level Community structure consists of decentralized domains (.level) which stay on the blockchain, decentralized storage on Arweave, decentralized identities, and different instruments that assist bridge the hole between Internet 2.5 and full Internet 3.
If you open Level Browser, there is no such thing as a connection to fb.com, google.com, or any IP addresses from the previous web (in the event you attempt to open a web2 hyperlink, you may be redirected to your regular browser). As an alternative, Level Community forces the builders to make use of solely decentralized parts to deploy their dApps, making certain censorship-resistance, information integrity, information availability, privateness, and enhanced safety.
“The Roadmap to Web3”
This mixture, founders insist, is essentially the most simple definition of Internet 3.0: a long-standing dream of know-how fanatics to have a very decentralized web, freed from censorship, mass surveillance, and empowering direct possession of information and audiences, with out Huge Tech intermediaries taking their reduce and asserting dictatorship-like management. However how far are we from reaching this?
Level Labs produced their first prototype a yr in the past, bootstrapping its growth with their very own funds. Then, in October 2021, they introduced the primary alpha model on Solana Ignition Hackathon, which positioned them on the Honorary Mentions checklist and led to elevating their Seed and A rounds by enterprise capital companies, together with notable names reminiscent of Arweave, Petrock Capital and Photo voltaic Eco Fund, and led by Sino International+FTX fund, which funded a second alpha model, which is now extra practical and simpler to make use of.
This week, Level Labs introduced their roadmap. And it’s not only a typical ribbon-shaped block on a touchdown web page. As an alternative, they made it into a complete Trello-like web site, which is hosted on roadmap.pointnetwork.io, referred to as “The Roadmap to Web3 ” and is often up to date. It options two zones: the primary zone, presenting the infrastructure required for decentralized web and is sort of accomplished, and the dApp zone, itemizing use circumstances and potential decentralized functions for when the primary zone is prepared and operational.
As a result of it’s arduous for one firm to develop all dozens of dApps required for the total Internet 3.0 expertise, the present plans are to have one final personal VC spherical dubbed ‘The Megaround’ earlier than the general public launch on the finish of Might, to supply grants to groups and founders to incentivize constructing web3 apps on Level Community. After that, the plans are to launch the mainnet beta by June 1.
Because the curiosity in web3 grows, there will certainly emerge just a few tasks working for the respect of turning into the golden commonplace. Is Level Community on the best way to be certainly one of them? It appears we’re only a few months away from discovering out.