Cracking Web3.0: The Internet Revolution from Monopoly to Ownership

Are you disappointed with the current internet? Data controlled by giants, content censored by platforms, creators exploited… This is exactly the status quo that Web3 aims to disrupt. But what is Web3? Why are so many people discussing it?

The Core Promise of Web3.0: Users Regain Control

Simply put, What is Web3? It is a revolution in internet architecture that uses decentralization technology to break the monopoly of centralization, allowing users to truly own their digital assets and data.

The internet has gone through three stages:

Web 1.0 (Read-Only Web): Users can only passively receive information; content is produced by enterprises.

Web 2.0 (Read-Write Web): Users can create content, but platforms control everything — your data, your content, your earnings all belong to the platform.

Web 3.0 (True Ownership): The value created by users belongs to the users themselves. Through blockchain and tokens, you truly control your assets, data, and privacy.

Why is Web3 Worth Paying Attention To? Four Major Breakthroughs

1. True Ownership

In Web 2.0, your game skins, digital collectibles are owned by the game company. They can delete them with a word. But in Web3, through NFTs (Non-Fungible Tokens), you can have real ownership, and even freely trade or transfer them, even the original creator cannot revoke.

2. Censorship Resistance

Platforms cannot arbitrarily delete your content or freeze your accounts. Data is stored on the blockchain and maintained by thousands of nodes. No one can unilaterally change the rules.

3. Trustless Interactions

No need to trust third-party institutions. Transactions are automatically executed through cryptography and smart contracts. Code is law.

4. Fair Revenue for Creators

Middlemen disappear. Creators can directly collaborate with fans and earn a higher share of revenue. Music, art, videos, writing — any creative work can be fairly priced and traded.

The Underlying Logic of Web3: Decentralized Value Internet

What is the technological foundation?

• Blockchain: Distributed ledger that records all transactions, tamper-proof
• Smart Contracts: Self-executing code that distributes benefits according to rules
• Tokens: Economic incentives that reward participants
• Wallets: Users manage their private keys and control their assets

These technologies combine to make a “company without a CEO” possible.

Three Major Application Scenarios Are Exploding

DAO (Decentralized Autonomous Organization)

No need for a chairman or CEO; governance through voting. Team members earn tokens based on contribution. Netflix may be centralized, but a DAO can be a “Netflix owned by the community.”

DeFi (Decentralized Finance)

No banks needed. Lending, borrowing, trading happen automatically on the blockchain. Over 2 billion unbanked people worldwide can directly participate in the financial system.

NFTs and Creator Economy

Digital art, game assets, fan passes — everything can be tokenized as NFTs. Creators sell directly to fans without platform commissions.

Blockchain Games Are Redefining the Gaming Economy

Imagine a game where the equipment you spend 100 hours to obtain truly belongs to you. You can sell it, gift it to friends, or even use it in other games.

Axie Infinity allowed Filipino players to make a living during the pandemic by “playing to earn.” This is not the future — it is happening now.

Honest Shortcomings: Web3 Is Not Ready for Large-Scale Adoption Yet

High Barrier: Ordinary users need to understand wallets, private keys, Gas fees, and other concepts.

High Cost: Transaction fees on Ethereum mainnet have been exorbitant. Layer 2 scaling solutions are improving but not yet widely adopted.

Educational Gaps: Most people still don’t understand Web3. More simple and accessible education is needed.

Immature Infrastructure: Many applications still rely on centralized services (like Discord, GitHub), which is somewhat ironic.

Risks and Challenges Cannot Be Ignored

Volatility Risk: Cryptocurrency prices fluctuate wildly; investors may lose everything.

Money Laundering Risks: Anonymity features may be exploited for illegal purposes.

Technical Vulnerabilities: Hacks and fund losses caused by smart contract bugs are common news.

Regulatory Uncertainty: Different policies across countries may impact projects.

Regulation and the Future: From “Code is Law” to “Law is Code”

Governments are not trying to eliminate Web3 but to guide it. Smart contracts can embed compliance logic, making regulation more efficient. China’s digital yuan is an example of this exploration.

The key is to find a balance between open innovation and risk prevention. Blanket bans are ineffective; scientific guidance yields better results.

Web3 Is Still Before the iPhone Moment

The iPhone in 2007 enabled everyone to use smartphones, leading to mobile internet. Web3 has not yet had that “iPhone moment.”

Mass adoption requires:

• User experience simple enough (ordinary people don’t need to understand technology)
• Explosive demand for real use cases (not just for speculation)
• Clear business models (who makes money, how)
• A complete ecosystem (smooth wallets, trading, payments)

Social might be the first application to go mainstream (people love social), and creator economy and NFTs are also worth looking forward to.

Final Words

What is Web3? Simply put, it is the transfer of internet ownership from “platforms” to “users.” But this takes time.

People involved in Web3 now may not make money immediately, but they will understand what the future internet will look like. Staying clear-headed amid hype, learning to manage risks within ideals — perhaps that is the most rational attitude.

The Web3 era is still before the sunrise; we are all early builders.