{"id":5685,"date":"2022-03-08T15:20:00","date_gmt":"2022-03-08T20:20:00","guid":{"rendered":"http:\/\/gracegazette.org\/wordpress1\/?p=5685"},"modified":"2022-04-25T13:16:03","modified_gmt":"2022-04-25T18:16:03","slug":"the-high-schoolers-handbook-web-3-0-crypto-nfts-the-metaverse-and-more","status":"publish","type":"post","link":"https:\/\/gracegazette.org\/wordpress1\/the-high-schoolers-handbook-web-3-0-crypto-nfts-the-metaverse-and-more\/","title":{"rendered":"The High Schooler\u2019s Handbook: Web 3.0, Crypto, NFTs, the Metaverse, and More"},"content":{"rendered":"\n

Media provided from Tezos, via Unsplash<\/a>.<\/em><\/p>\n\n\n\n

After moving ourselves online for the better half of two years, it is no wonder why the next digital revolution has exploded. With NFTs, the metaverse, and all sorts of futuristic technology dominating the internet, it seems we are all overwhelmed, and at times confused, when considering the vast expanse of this new digital world. <\/p>\n\n\n\n

We present to you the cure to your confusion\u2014The High Schooler\u2019s Web 3.0 Handbook<\/em>: a comprehensive yet simplified guide to the Web 3.0, crypto, NFTs, blockchains, the metaverse, and more. <\/p>\n\n\n\n

TABLE OF CONTENTS<\/strong><\/h1>\n\n\n\n
What is Web 3.0? 2.0? 1.0? <\/a><\/strong><\/h5>\n\n\n\n
What is the deal with \u201cdecentralization?\u201d <\/a><\/strong><\/h5>\n\n\n\n
Can the internet really be decentralized? <\/a><\/strong><\/h5>\n\n\n\n
What is the metaverse?<\/a><\/strong><\/h5>\n\n\n\n
What is an NFT?<\/a><\/strong><\/h5>\n\n\n\n
What is a cryptocurrency? <\/a><\/strong><\/h5>\n\n\n\n
What is the blockchain? <\/a><\/strong><\/h5>\n\n\n\n
Why are these technologies so groundbreaking?<\/a><\/strong><\/h5>\n\n\n\n
What are the dangers of this new wave of technology?<\/a><\/strong><\/h5>\n\n\n\n
Is this all a bit dystopian?<\/a><\/strong><\/h5>\n\n\n\n
Without a centralized governance, who is going to control all of this?<\/a><\/strong><\/h5>\n\n\n\n
Why is crypto bad for the environment? <\/a><\/strong><\/h5>\n\n\n\n
Conclusion<\/a><\/strong><\/h5>\n\n\n\n
\n\n\n\n

What is Web 3.0? Web 2.0? Web 1.0?<\/h3>\n\n\n\n

Web 3.0, 2.0, and 1.0 are the defining stages of the internet.<\/p>\n\n\n\n

Web 3.0<\/a> is the upcoming third-generation of the internet. While Web 2.0 is centralized<\/strong> around major platforms (Apps) like Facebook and Google, Web 3.0 promises to be decentralized<\/strong> (DApps<\/a>). Web 3.0 will be automated by a blockchain<\/strong>, requiring less human intervention and maintenance. <\/p>\n\n\n\n

With Web 1.0, most users did not have the ability to even create content in the first place. It was a read-only, non-interactive internet. You know Web 1.0 when you see Web 1.0\u2014the type of HTML sites that history teachers assign. With our current internet (Web 2.0), centralized platforms (such as Facebook) have control over user content. With Web 3.0, users will receive compensation, power, and privacy over their content and personal information. Meanwhile, the platforms will lose out on much of the power they have enjoyed with Web 2.0. <\/p>\n\n\n\n

On paper, Web 3.0 will alleviate the issues of censorship<\/a> and digital oligarchies.<\/a> It will also help to equalize economic playing grounds and potentially break down conglomerates. <\/p>\n\n\n\n

\"\"\/<\/figure>\n\n\n\n

The Timeline of the Internet\/Web. Media provided from Hacker Noon<\/a>, a technology blog.\u00a0<\/em><\/p>\n\n\n\n

Note: The \u201cInternet and Web\u201d were not centralized until corporations started the Web 1.0 wave. Before then, the Internet did not feature a comprehensive, centralized browsing system. Web 1.0 was the first era of the internet available to consumers. <\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Media provided from Gazette Media staff.<\/em><\/p>\n\n\n\n

A Web 3.0 Analogy<\/strong><\/p>\n\n\n\n

Imagine the relationship between a landlord and a tenant. In Web 2.0, the landlord owns the building and has control and ownership over the tenant\u2019s property. The landlord can easily exploit the tenant by raising the rent, shutting off the water, or evicting them. <\/p>\n\n\n\n

In Web 3.0, however, there are no landlords. The tenants collectively own and control the building; hence, the building has a decentralized<\/strong> system. The building automatically runs itself without the oversight of the landlord. <\/p>\n\n\n\n

What\u2019s the deal with \u201cdecentralization?\u201d <\/strong><\/h3>\n\n\n\n

A decentralized network disperses control across millions of users and relies on several machines, rather than a single central server.<\/strong> The world of Web 3.0, and everything in it, promises to be decentralized. All users involved essentially \u2018own\u2019 a portion of the network, so to speak. Differently, in centralized networks, all information runs through central<\/em> entities. It is an owner-controlled network, not a cooperative one.<\/p>\n\n\n\n

Okay, yes, it sounds a bit like\u2026communism. <\/p>\n\n\n\n

Web 1.0 and 2.0 are centralized because all data runs through central networks that trace back to individuals.  <\/p>\n\n\n\n

Can the internet really be decentralized? <\/strong><\/h3>\n\n\n\n

According to some tech insiders, the promise of decentralization is a manipulative ploy by the industry leaders. Jack Dorsey, a Web 2.0 pioneer and the Co-Founder of Twitter, spoke out on the users\u2019 naivete, warning users against the monopolization of the next internet by venture capitalists (VC<\/a>) and their limited partners (LP<\/a>). <\/p>\n\n\n\n

\n

You don\u2019t own \u201cweb3.\u201d

The VCs and their LPs do. It will never escape their incentives. It\u2019s ultimately a centralized entity with a different label.

Know what you\u2019re getting into\u2026<\/p>— jack\u26a1\ufe0f (@jack) December 21, 2021<\/a><\/blockquote>