Web3: the promise & the reality
Web3: the promise & the reality
This paper provides a current overview of the functions of Web3 technologies, the major application areas and the kinds of challenge the technologies are intended to resolve. It considers how these approaches are presented in relation to previous waves of the development of the internet. It also contains definitions of terms used by the industry. Views expressed about Web3 can be highly polarised, which is intriguing. Commentary about developments in computer software does not usually include the kind of extreme judgements, positive and negative, that characterise discussion of Web3. This paper explores the great divergence in perspectives. It summarises challenges and criticisms, notes significant recent developments, and suggests themes likely to be critical to the future of Web3.
web3, cryptocurrency, blockchain, decentralisation
Hawes, Ben
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Hall, Wendy
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Thompson, Bill
07561f60-13de-4ac2-9737-39d697caad77
O'Hara, Kieron
0a64a4b1-efb5-45d1-a4c2-77783f18f0c4
2023
Hawes, Ben
e08d8d27-d342-4bd5-bb8b-79dc8d42d70a
Hall, Wendy
11f7f8db-854c-4481-b1ae-721a51d8790c
Thompson, Bill
07561f60-13de-4ac2-9737-39d697caad77
O'Hara, Kieron
0a64a4b1-efb5-45d1-a4c2-77783f18f0c4
Hawes, Ben, Hall, Wendy, Thompson, Bill and O'Hara, Kieron
(2023)
Web3: the promise & the reality
Web Science Trust
32pp.
(doi:10.5258/SOTON/WSI-WP006).
Record type:
Monograph
(Working Paper)
Abstract
This paper provides a current overview of the functions of Web3 technologies, the major application areas and the kinds of challenge the technologies are intended to resolve. It considers how these approaches are presented in relation to previous waves of the development of the internet. It also contains definitions of terms used by the industry. Views expressed about Web3 can be highly polarised, which is intriguing. Commentary about developments in computer software does not usually include the kind of extreme judgements, positive and negative, that characterise discussion of Web3. This paper explores the great divergence in perspectives. It summarises challenges and criticisms, notes significant recent developments, and suggests themes likely to be critical to the future of Web3.
Text
Web3-2023-01
- Version of Record
More information
Published date: 2023
Keywords:
web3, cryptocurrency, blockchain, decentralisation
Identifiers
Local EPrints ID: 477076
URI: http://eprints.soton.ac.uk/id/eprint/477076
PURE UUID: 563c387a-361a-42c8-a804-e04c5b73d6d7
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Date deposited: 25 May 2023 16:46
Last modified: 18 Mar 2024 02:31
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Contributors
Author:
Ben Hawes
Author:
Bill Thompson
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