Web3: Empowering Users and Decentralizing the Internet
The traditional web ecosystem, often referred to as Web 2.0, has been criticized for its centralized nature and the way it handles user data. Many web3 proponents argue that a handful of large companies have gained too much control over the internet, owning and monetizing user data while having the power to de-platform individuals. This, they believe, goes against the original vision of the internet as a decentralized and open platform.
The Promise of Web3
Web3 aims to address these issues by creating a decentralized internet that puts power back into the hands of users. Edge & Node, a company focused on developing and supporting decentralized applications (dApps) and protocols, is at the forefront of this movement. Tegan Kline, CEO and co-founder of Edge & Node, believes that web3 represents the next evolution of the internet, stating in an interview on The Zero Byte’s Chain Reaction podcast:
Web3 is still being built, we’re still working on building this decentralized internet that is censorship resistant. So, the innovation is happening today and I believe that this is where the internet will go, this will be the next evolution of the internet. It’s a growing industry as opposed to a shrinking one.
The Graph: Organizing and Indexing Blockchain Data
Edge & Node is the initial team behind The Graph, a decentralized network that organizes, indexes, and queries data from open blockchains. Often referred to as the “Google of web3,” The Graph aims to make open data a public good by providing “subgraphs,” which function like open APIs, serving queries and delivering information to applications built on the network.
In November, The Graph launched a roadmap for its ”New Era,” outlining plans to expand its data services, support developers, improve network performance, and create tools for data management. The roadmap also included plans to enable large language models (LLMs), which are crucial for building AI chat programs.
The Importance of Data in AI
Kline emphasizes the significance of data in the development of AI, stating:
The one thing that’s really important about AI is that it’s all about data. There’s a saying that who rules the data rules the world, and so it really is important that data is not owned and controlled by any one company, especially in the AI space.
The Graph is working to enable users to leverage data from its network and other blockchains to train AI models in a fully open-source manner. While many open-source AI projects exist today, the data they are trained with is often not open-source. Kline believes that using new business models and incentive structures, such as token economies and decentralized infrastructure, will lead to exciting developments in the intersection of AI and blockchain technology.
The Future of AI and Blockchain
Currently, the majority of the AI community has not fully embraced blockchain technology. However, Kline believes that over time, the relationship between AI and blockchain will evolve and shift, leading to innovative solutions and applications.
This story was inspired by an episode of The Zero Byte’s podcast Chain Reaction. Subscribe to Chain Reaction on Apple Podcasts, Spotify or your favorite pod platform to hear more stories and tips from the entrepreneurs building today’s most innovative companies.
Connect with us:
- On X, formerly known as Twitter, here.
- Via email: [email protected]
6 Comments
Big promises from Web3, but I’ll believe it when I see it—can they truly outmaneuver Big Tech
Zephyr: Web3 stepping up to challenge Big Tech? This is the showdown we didn’t know we needed!
Finally, a breath of fresh air in the data privacy saga, but can Web3 really deliver
Web3 promising to dethrone Big Tech? Hope they have the firepower to back that up!
Oh, so now we’re putting our data trust in Web3’s hands? Interesting move!
Wyatt K. Morgan: Big Tech’s reign under threat by Web3? Color me skeptical but hopeful!