Web Evolution, Blockchain, and Past vs Future

Pocketful of Quarters picture

Pocketful of Quarters

12/7/2022

BlockchainWeb3

To truly understand blockchain and the uses of the technology in video games it is important to demystify some of the bigger questions and misconceptions around blockchain as a whole. First, we will tackle the idea of the internet evolution or Web3 as it has come to be known. Next, we will tackle the issue of democratization. With this information we can break down the true nature of blockchain and understand how it is necessary for the evolution of gaming.

Webvolution

I’m sure most of you have heard the phrase Web3, and about the so-called “evolution of the internet.” Although it is true that the internet has changed greatly over time, the true meaning of Web3 is less of a radical shift and more of a slow transition.

WEB3 IS THE READ, WRITE, AND EXECUTE VERSION OF THE INTERNET

Tim Tello, COO

Web1 was the very rudimentary, straightforward first installation of the internet. This version of the internet was read only, meaning you would visit a web page, read the information available to you on that page, and possibly click a link to a new page for more of the same interaction.

Then came the version of the internet most people today are familiar with: Web2. This iteration introduced the internet to social interaction. The ability to read and write between two or more computers brought on the age of social media platforms.

Now, with the advent of blockchain, web users are given authority over their own web presence. “Web3 is the read, write, and execute version of the internet.” as Tello put it. Web3 allows users to not only create, but also own their original content.

Democratization

Giving individuals the ability to monetize their content creates a democratization of the internet. According to Tello, democratizing this massive network of computers allows communities to “move across the internet in ways that are decentralized and not controlled by servers.” Nodes on blockchains are used to store and validate data. This creates the same functionality as AWS (Amazon Web Services) but with its own decentralized transaction and conversion mechanisms.

BRIDGES GIVE US THE ABILITY TO CREATE AGNOSTIC CHAINS

Tim Tello, COO

This system saves users from being tied to one single server. Essentially, users are no longer confined by servers to a centralized base of data, but instead have access to the entire internet spread across one chain. Those in the blockchain industry tend to go back and forth on which chain that will be, however, Tello does not believe there will actually be only one chain. Tello believes “bridges will give us the ability to create agnostic chains and establish this co-independent snowball effect of what these blockchains will be able to provide.”

Blockchain Gaming

To break this down and explore why this system is functional for videogames in particular, it is best to first understand how videogames work currently. Each game is built with its own digital database, confining game data securely to one spot. If instead the game was built on blockchain and removed from the server, it is possible to have games existing parallel to one another so a jump from one game to the next and back is not only feasible, but instant and painless. With the power of blockchain, players can move tokens, skins, items, and whatever else they’d like from one game to another without breakage.

Disclaimer

We are not financial advisors. The content on this website, our Social Media pages, or our YouTube videos are for educational purposes only and merely cite our own personal opinions. In order to make the best financial decision that suits your own needs, you must conduct your own research and seek the advice of a licensed financial advisor if necessary. Know that all investments involve some form of risk and there is no guarantee that you will be successful in making, saving, or investing money; nor is there any guarantee that you won't experience any loss when investing. Always remember to make smart decisions and do your own research!