{"id":2315,"date":"2022-01-13T15:27:48","date_gmt":"2022-01-13T12:27:48","guid":{"rendered":"https:\/\/evercodelab.com\/blog\/?p=2315"},"modified":"2022-07-27T11:27:34","modified_gmt":"2022-07-27T08:27:34","slug":"2022-the-year-of-web-3-0","status":"publish","type":"post","link":"https:\/\/evercodelab.com\/blog\/2022-the-year-of-web-3-0\/","title":{"rendered":"2022: The Year of Web 3.0?"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Can 2022 become the first year of the web 3.0 age? Can it, as Analytics Insight <\/span><a href=\"https:\/\/www.analyticsinsight.net\/top-10-web-3-0-trends-and-predictions-to-lookout-for-in-2022\/\"><span style=\"font-weight: 400;\">foresees<\/span><\/a><span style=\"font-weight: 400;\">, build the fundamentals for \u201cthe Internet\u2019s latest development\u201d, i.e. web3? Who knows. But if it happens, all the blockchain companies need to be well-prepared to face this new reality. The first step, in this respect, is to be able to comprehend the essence of web3. So let\u2019s summarise what we already know!\u00a0<\/span><\/p>\n<h2><strong>Web3 In a Nutshell<\/strong><\/h2>\n<p><span style=\"font-weight: 400;\">It is safe to say that the <\/span><a href=\"https:\/\/www.coindesk.com\/layer2\/2022\/01\/04\/what-is-web-3-heres-how-future-polkadot-founder-gavin-wood-explained-it-in-2014\/\"><span style=\"font-weight: 400;\">concept<\/span><\/a><span style=\"font-weight: 400;\"> of web3 (aka web 3.0) was proposed by the father of Polkadot as early as in 2014. Back then, Dr. Wood posted \u2018<\/span><a href=\"http:\/\/gavwood.com\/dappsweb3.html\"><span style=\"font-weight: 400;\">Dapps: What Web 3.0 Looks Like<\/span><\/a><span style=\"font-weight: 400;\">.\u2019 Almost 10 years ago, he envisioned a world characterized by a sort of \u2018re-imagination of\u2026 things we already use the web for, but with a fundamentally different model.\u2019 He meant a different way for Internet users to interact with each other, in terms of messaging, publishing, consensus, and front end. That is to say, in 2014, a new idea of the Internet was born: a new digital world where users, not platforms, get the upper hand.<\/span><\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\" wp-image-2316 aligncenter\" src=\"https:\/\/i0.wp.com\/evercodelab.com\/blog\/wp-content\/uploads\/2022\/01\/screenshot-2022-01-12-at-01.02.16.png?resize=501%2C286&#038;ssl=1\" alt=\"\" width=\"501\" height=\"286\" srcset=\"https:\/\/i0.wp.com\/evercodelab.com\/blog\/wp-content\/uploads\/2022\/01\/screenshot-2022-01-12-at-01.02.16.png?resize=320%2C183&amp;ssl=1 320w, https:\/\/i0.wp.com\/evercodelab.com\/blog\/wp-content\/uploads\/2022\/01\/screenshot-2022-01-12-at-01.02.16.png?resize=768%2C439&amp;ssl=1 768w, https:\/\/i0.wp.com\/evercodelab.com\/blog\/wp-content\/uploads\/2022\/01\/screenshot-2022-01-12-at-01.02.16.png?resize=100%2C57&amp;ssl=1 100w, https:\/\/i0.wp.com\/evercodelab.com\/blog\/wp-content\/uploads\/2022\/01\/screenshot-2022-01-12-at-01.02.16.png?resize=700%2C400&amp;ssl=1 700w, https:\/\/i0.wp.com\/evercodelab.com\/blog\/wp-content\/uploads\/2022\/01\/screenshot-2022-01-12-at-01.02.16.png?w=1028&amp;ssl=1 1028w\" sizes=\"auto, (max-width: 501px) 100vw, 501px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">This picture, displayed by Google Trends, shows the enormous popularity of the concept! As Gizmodo <\/span><a href=\"https:\/\/gizmodo.com\/what-is-web-3-and-why-should-you-care-1848204799\"><span style=\"font-weight: 400;\">puts it<\/span><\/a><span style=\"font-weight: 400;\">, \u2018\u2026you may have come across a phrase growing in popularity: Web3\u2026 For Web3 evangelists, it\u2019s a revolution; for skeptics, it\u2019s an overhyped house of cards.\u2019 The Evercode Lab team certainly is one of the teams that feels enthusiastic about it. The web3-dominated world is a place where our <\/span><a href=\"http:\/\/everchain.eu\/?utm_source=blog&amp;utm_medium=article&amp;utm_campaign=web3_2022\"><span style=\"font-weight: 400;\">White Label Crypto Wallet<\/span><\/a><span style=\"font-weight: 400;\"> for companies suits bets. So, here is our understanding of what web3 is all about, in comparison with its predecessors:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight: 400;\">Web 1.0 meant static pages and passive consumption of info displayed by those static pages<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Web 2.0 was (and still is) a different matter. It is a platform-based phenomenon that makes it possible for end-users not only to consume content but also to generate it. This digital domain is known to be dominated by giant tech companies and service providers. They are the key players that have full control over servers, and the back end parts. Without them, it is almost impossible to be present on the Internet. <\/span><\/li>\n<li><span style=\"font-weight: 400;\">Web 3.0 is going to be a deconcentrated cyber world fueled by blockchain. <\/span><span style=\"font-weight: 400;\">Its users will dominate it themselves, not providers, moreover they might be able to define its policy and execute contracts. As Investopedia <\/span><a href=\"https:\/\/www.investopedia.com\/web-20-web-30-5208698\"><span style=\"font-weight: 400;\">puts it<\/span><\/a><span style=\"font-weight: 400;\">, more formally, Web 3 will be determined by \u201cdecentralization, openness, and greater user utility.\u201d<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Going further, here are its key properties:\u00a0<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Decentralization &#8211; a specific state of the web when data is stored and processed simultaneously in several co-existing and independent locations. Such locations might be cell phones, PCs, connected vehicles, IoT sensors, and appliances, etc.<\/span><\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\">Users can interact with each other directly. They need no authorization from intermediaries to operate in cyberspace.<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">(No third parties are involved with no permissions needed. As long as data is dispersed over countless storages and not controlled by a giant provider \u2014 with Web 3.0 constituents being built via open-source software -)\u00a0<\/span><\/p>\n<h2><b>Web 3.0: Implications for Evercode Lab and Our Customers\u00a0<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">We envisioned our current flagship product, our WL wallet, as an all-in-one tool perfectly adapted to this new Web 3.0 world. The most advanced edition of the Evercode White Label Wallet includes:<\/span><\/p>\n<h3><b>1. <\/b><b><a href=\"https:\/\/evercodelab.com\/blog\/en\/defi-trends-and-developments-evercode-labs-role\/\">DeFi<\/a><\/b><\/h3>\n<p><span style=\"font-weight: 400;\">Decentralized finance can be viewed as a generic term referring to alternatives to traditional finance. DeFi is a P2P environment making it possible to process transactions without banks and government agencies. <\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">2020-2021 saw a huge increase in terms of <\/span><a href=\"https:\/\/www.statista.com\/statistics\/1237821\/defi-market-size-value-crypto-locked-usd\/\"><span style=\"font-weight: 400;\">cryptocurrency held in DeFi<\/span><\/a><span style=\"font-weight: 400;\">. That amount rose from $934 million in Jan 2020 to $93.397 million in Oct 2021. At the same time, DeFi had 3,450,000 users. This figure will get much greater, as totally, <\/span><a href=\"https:\/\/www.statista.com\/statistics\/1280597\/global-total-users-virtual-platforms\/\"><span style=\"font-weight: 400;\">the global crypto world had<\/span><\/a><span style=\"font-weight: 400;\"> 220,000,000 users in Oct 2021. All those millions are a natural target audience for DeFi.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Our White Label Crypto wallet, with its custom edition, will provide you with a chance to engage those crypto owners not covered by DeFi yet.\u00a0<\/span><\/p>\n<h3><b><\/b>2. <a href=\"https:\/\/evercodelab.com\/blog\/en\/dapp-market-trends-and-evercodes-position-in-the-dapp-landscape\"><b>dApps<\/b><\/a><\/h3>\n<p><span style=\"font-weight: 400;\">Decentralized applications are the backbone for the web 3.0 world. Potentially, their reach extends way beyond DeFi. dApps is an application that is built on, maintained, and run on a blockchain-supported network of devices instead of a single authority. Gradually, this segment is proliferating and conquering new domains.\u00a0<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">As of Jan 2020, <\/span><a href=\"https:\/\/www.stateofthedapps.com\/stats#new\"><span style=\"font-weight: 400;\">there were<\/span><\/a><span style=\"font-weight: 400;\"> 3016 dApps. In Dec. 2021, there were 3850 <\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">dApps are functioning on different blockchains. Right now, most of them, almost 3000, run on ETH<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Usage of dApps is not limited to dApps. Quite the contrary, in terms of transactions, the breakdown was as follows in Sep 2020:<\/span><\/span>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Development &#8211; 54K<\/span><\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Exchanges &#8211; 468<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Finance &#8211; 598K<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Gambling &#8211; 51K<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Games &#8211; 100K<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Governance &#8211; 14K<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Identity &#8211; 3K<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Media &#8211; 5.5K<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Property &#8211; 10K<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Security &#8211; 227.5K<br \/>\n<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Social &#8211; 28K<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Storage &#8211; 17K<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Wallet &#8211; 126K\u00a0<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Your business will be in the right position to operate in this multifaceted dApp world, as its top edition can be integrated with decentralized applications.\u00a0<\/span><\/p>\n<h3><strong>3. <a href=\"https:\/\/evercodelab.com\/blog\/en\/nft-as-a-blockchain-phenomenon-evercodes-perspective\">NFTs<\/a><\/strong><\/h3>\n<p><span style=\"font-weight: 400;\">Basically, a non-tangible token is a block-chain based \u201ccryptographic asset\u201d that cannot be exchanged or traded at equivalency. It contains unique \u201cidentification codes and metadata\u201d that separate and distinguish it from other NFTs. It is another buzzword of 2022. According to <\/span><a href=\"https:\/\/www.forbes.com\/sites\/ninabambysheva\/2021\/12\/23\/nfts-generated-over-23-billion-in-trading-volume-in-2021\/?sh=2a53f75d5f0a\"><span style=\"font-weight: 400;\">Forbes<\/span><\/a><span style=\"font-weight: 400;\">, the NFT market size was $23 billion in trading volume. However, <\/span><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-01-06\/nft-market-surpassed-40-billion-in-2021-new-estimate-shows\"><span style=\"font-weight: 400;\">Bloomberg<\/span><\/a><span style=\"font-weight: 400;\"> has recently cited a much higher estimate, $40 billion.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Most people associate NTFs with digital art but this is far from so. They are getting more and more popular and expensive across a range of segments, including:\u00a0<\/span><\/p>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Collectibles &#8211; $7,130 million\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Games &#8211; $2,153 million<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Art &#8211; $2,107 million<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Metaverse &#8211; $630 million<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Utility &#8211; $75 million\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">DeFi &#8211; $18 million<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Needless to say, Evercode\u2019s White-Label Wallet is capable of storing your NFTs.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Thus, there is no need to waste time. Contact us to obtain your advanced edition of the Evercode White Label wallet and get prepared for the Web 3.0 era. In addition to DeFi, dApps, and NFTs, you can also get:\u00a0<\/span><\/p>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">over 300 coins are available<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">more than 50 000 exchange pairs<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">lightning support\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">and much more<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Can 2022 become the first year of the web 3.0 age? Can it, as Analytics Insight foresees, build the fundamentals for \u201cthe Internet\u2019s latest development\u201d,&#8230;<\/p>\n","protected":false},"author":1,"featured_media":2317,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[71],"tags":[85,79,83],"class_list":["post-2315","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","tag-blockchain-en","tag-crypto","tag-crypto-wallet"],"aioseo_notices":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.3.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>2022: The Year of Web 3.0? &#8211; Evercode Lab Blog<\/title>\n<meta name=\"description\" content=\"Evercode White Label wallet is ready for the Web 3.0 era\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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