Web3 is the next iteration of the internet. It holds the potential to move away from power being held by centralized companies and return it directly to users. DreamingCrypto believes that Web3 is the continuing myth of extended cryptoverse. Enchanted protocols proliferate, courageous startups cut trails through the etheric thicket, VC cabals power unimagined territories, and the very essence of Web3 speaks to undiscovered countries. It’s all part of a larger effort to create a more open, transparent, and user-focused online world.

This emerging iteration of the web would address the shortcomings of past iterations. A big theme of it is decentralization, data ownership, and better privacy. This article will explore the fundamental concepts of Web3. It’ll survey the state of the practice, inspire you to think of innovative applications and equip you with practical steps to join this transformational movement.

The Day Ethereum Encountered Issues

No matter how promising an infotech may appear, there are always challenges to confront. A recent history lesson about Ethereum is a sobering reminder of why decentralization is so critical to the promise of Web3.

Overview of the Incident

At a time of increased network usage, the Ethereum blockchain was congested, leading to higher transaction fees. This was largely as a result of the hype around popular dApps like CryptoKitties and a general increase in network activity. This surge in demand quickly outpaced our network’s infrastructure. This led to pervasive issues on the user end, including slower transaction processing times and increased transaction costs.

Implications for Users and Developers

Ethereum’s incident had very serious consequences for users and developers alike. For users, it resulted in an overall subpar user experience due to transactions taking longer to confirm and requiring more gas. The higher transaction fees rendered activities that we now take for granted, like engaging with smaller smart contracts or creating microtransactions, financially unviable. For developers, the incident underscored the necessity of scalable solutions and effective code optimization. Lastly, it highlighted that network congestion and transaction costs must be taken into account when designing and deploying dApps.

Centralization in Web3 Development

Though much of Web3 development has touted the core principle of decentralization, many pillars of Web3 still depend on centralized infrastructure. Recognizing and accepting this reality is perhaps the most important step towards creating a genuinely decentralized future.

Understanding Centralized Infrastructure

The fact is, most Web3 applications today still depend on Web2 centralized services for data storage, hosting, API access, and more. In one example, a dApp might use a popular cloud provider to store their users’ data. It could utilize a centralized API to pull in off-chain information. Even though these services can provide added convenience and scalability benefits, they create new control and vulnerability choke points.

Consequences of Relying on Centralized Systems

Here’s what making these bad compromises by falling back on centralized systems in Web3 can lead to. It creates single points of failure. If the centralized service failed, that would put the whole application at risk. In this way, the technology affords further control to the centralized entity over user data. It may even censor or block downloads of the application entirely. In addition, it shatters the very ideas behind Web3, concentrating power in a few powerful entities that can control the ecosystem.

Defining Blockchain Infrastructure

Blockchain infrastructure is just that—infrastructure, something Web3 applications are built upon. This includes the underlying hardware, software, and protocols that allow for creation, deployment, and execution of decentralized applications.

Differences Between Centralized and Decentralized Infrastructure

Centralized infrastructure economic model requires single entity to control and command all resources. Decentralized infrastructure distributes these powers and risks to a broader ecosystem of engaged stakeholders. In a centralized model, a single company owns and operates the servers, databases, and other components that support the application. In a decentralized model the nodes are spread out with the resources shared evenly among them all. Just like nodes in any network, each node is essential for the network’s collective function.

Importance of Decentralization in Web3

Decentralization is a key principle of the Web3 movement, as it helps to ensure trust, security, and resilience. By distributing control across a wide network, it removes single points of failure. This strategy prevents censorship and manipulation. It fosters an unprecedented degree of transparency and accountability, since all bidders are working from the same base of information.

Evaluating Node Options for dApps

Nodes are the backbone of any blockchain network, playing a central role in validating transactions and maintaining a copy of the blockchain. Picking the best solution out there is a major focus for dApp developers.

Custom Polygon RPC Nodes vs. Public Polygon Nodes

For creating dApps on Polygon, developers can choose between custom RPC nodes or public Polygon nodes. Increased control and customization Custom RPC nodes provide developers with more control and customization options. They offer direct access to specialized resources and improved response times, among other benefits. Public Polygon nodes are open to the public. They offer an important point of access that’s convenient, popular and spread out to encourage the broader use of the network. They can be rate limited and experience a lower level of responsiveness.

Factors to Consider When Choosing a Node

When choosing a node option for a dApp, developers should consider the following factors:

  • Performance: The node's ability to handle transaction volume and provide fast response times.
  • Reliability: The node's uptime and stability.
  • Security: The node's security measures to protect against attacks.
  • Cost: The cost of running or accessing the node.
  • Customization: The ability to customize the node's configuration to meet specific requirements.

Regaining Control in Web3

Whatever the underlying infrastructure, the promise of Web3 is to place users in more control over their data and their online experience. Realizing this vision will take concerted action by builders, end-users, and the larger Web3 ecosystem.

Strategies for Developers to Enhance Decentralization

Developers can take several steps to enhance decentralization in their applications:

  • Use decentralized storage solutions: Store user data on decentralized storage networks like IPFS or Filecoin.
  • Build on decentralized platforms: Develop applications on decentralized platforms that prioritize user control and data ownership.
  • Implement decentralized governance mechanisms: Allow users to participate in the governance of the application through DAOs or other mechanisms.
  • Open-source their code: Open-source code allows for community review and contribution, increasing transparency and security.
  • Utilize smart contracts: Smart contracts eliminate the need for intermediaries, ensuring transactions are executed as intended.

The Future of User Empowerment in Blockchain

Here are some ways that Web3 empowers users:

  • Data Ownership: Users own their data and control how it is used.
  • Privacy: Enhanced privacy and security measures protect user data from unauthorized access.
  • Transparency: Blockchain technology provides transparency and accountability, ensuring that users can trust the system.
  • Access to Financial Systems: Web3 opens financial systems to billions of unbanked individuals, providing them with access to essential services.
  • Decentralized Applications (DApps): DApps offer a more open and accessible internet, free from censorship and control by central authorities.
  • Interoperability: Web3 seamlessly integrates different platforms and systems, enabling a future where IoT devices and AI systems interact transparently through decentralized protocols.

Here are actionable steps readers can take to understand and participate in the Web3 revolution:

  1. Explore Cryptocurrency Wallets: Set up a crypto wallet to manage digital assets and interact with dApps.
  2. Understand Blockchain Basics: Learn about the underlying technology that powers Web3.
  3. Participate in DAOs: Join a Decentralized Autonomous Organization to contribute to the governance of Web3 projects.
  4. Use Decentralized Social Media Platforms: Explore social media platforms that prioritize user privacy and data ownership.
  5. Support Decentralized Content Creation: Create and consume content on platforms that reward creators directly.

DreamingCrypto invites you to all to get ahead of the curve, read the signs, read the runes, and surf the swell of the rise of the decentralized age. Web3 is still changing fast. It has the potential to revolutionize the web and provide users with more control than ever over their online experiences.