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Tom Taulli
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1. Why Web3?
It’s a Rethinking of the Internet
Tom Taulli1
(1) Monrovia, CA, USA
Note The term Web3 has different variations. When Gavin Wood
coined the term, he referred to it as Web 3.0. But it has also been
called Web 3. Yet the general usage now is for Web3.
Web1
To better understand Web3, it is important to get a brief backgrounder
on Web1 and Web2. No doubt, both of these periods were full of drama
and rapid technological change. There was also a major impact on
society.
Now the origins of Web1 go back to the late 1960s. The Internet was
known as ARPANET, or the Advanced Research Projects Agency
Network, and had the backing of the U.S. Department of Defense. At the
core of this technology was packet switching, which allowed computers
to communicate with each other. The idea was to have a network that
could survive a nuclear war.
However, ARPANET would be primarily for academic purposes. For
example, the first online connection happened between research labs at
UCLA and Stanford. Even though the message just had “Login,” the
system crashed anyway!7
During the 1970s and 1980s, programmers developed a variety of
protocols that were freely available. Some examples include
Transmission Control Protocol and Internet Protocol, or TCP/IP,
Domain name system (DNS), SMTP, or the Simple Message Transfer
Protocol, and File Transfer Protocol (FTP). All these have remained
critical for powering today’s online world.
But in 1990, the Internet would change in a big way. Tim Berners-
Lee created the World Wide Web, which allowed for hypertext links. For
him, he thought this was a much better way for searching and reading
academic papers.
But it would not take long until the Internet would become
mainstream, allowing for searching and ecommerce. In 1993, college
student Marc Andreessen helped to create the Mosaic web browser.
From the start, it got huge numbers of downloads.
A year later, tech entrepreneur Jim Clark contacted Andreesen to
build a company, called Netscape. The main product was the Navigator
browser – and the growth was staggering. On August 9, 1995, Netscape
came public at $28 a share and the price ended the day at $58.8 The
market valuation was $2.2 billion, even though the revenues for the
past six months were only $16.6 million. There was a net loss of $4.31
million.
The IPO ignited the dot-com boom, which would last until 2000.
Some interesting characteristics of this period include the following:
Few people created content. Simply put, it was difficult to develop
websites. You had to know HTML and scripting code. The dialup
Internet connections made it challenging to use video and images.
Creating startups was expensive and required the help of venture
capitalists. You had to buy expensive servers and databases. It was
also hard to find talent who could create the web technologies and
there were not many useful development tools.
A popular business model was advertising. This allowed for content
sites like Yahoo! to provide their services for free. The ads were
usually based on the number of views or “eyeballs.”
The Internet was still for a small part of the global population. By
2001, only about 50 million had access to broadband Internet.9
Portals like Yahoo!, Lycos, Infoseek, AltaVista, and Excite became very
important for the growth of Web1. They allowed many people to
easily get useful information in one place.
According to Chris Dixon, a general partner at a16z: “Web1…was
about open protocols that were decentralized and community
governed. Most of the value accrued to the edges of the network —
users and builders.”10
The bottom line: It was very similar to the vision of Web3.
Interestingly, a common notion is that Web3 is really a way to get back
to the original principles of the Internet.
Yet this is likely an exaggeration. The fact is that Web1 saw
centralization. And this was not necessarily a bad thing. It actually
helped get a large number of people to participate in the ecosystem.
Part of this was due to the power of AOL, which was the Facebook of
its era. AOL was like an alternative version of the Internet – and it held
tremendous power. Because of its huge user base, the company was
able to generate massive amounts of revenues from advertisements and
sponsorships.
Then there was AOL’s hugely popular chat system. It connected
millions of users like a modern-day social network.
The Web1 world also highlighted something important that we’ve
seen in Web2: The network effect. This is where a system gets more
useful and powerful as more people join it.
A classic case of this was eBay. True, there were various other online
auctions. But eBay quickly turned into the clear dominant platform
because sellers were attracted to the large number of buyers and vice
versa. In fact, today the company is still the leader in the space.
Web2
The dot-com implosion was brutal. Many companies like Pets.com,
Webvan, eToys, Go.com, and DrKoop.com simply ran out of money.
Venture capital dried up. Many people left Silicon Valley and went
into other industries, like Wall Street. Everything seemed hopeless.
But the tech industry would rejuvenate itself and Web2 or Web 2.0
would emerge.
IT engineer, Dracy DiNucci, coined the term back in 1999 in an
article entitled “Fragmented Future.”11 Her vision was that the Internet
would become much more immersive and be prevalent across
platforms outside of a computer, such as the TV, car dashboard, cell
phone, and game machines.
But it was not until 2004 that Web 2.0 became part of the Silicon
Valley buzz. For the most part, the concept was evolving from DiNucci’s
concept to where the Internet would be user centric. Anyone could
create their own content and share it.
The leading companies in this era included Google, YouTube,
Facebook, Snap, and Twitter. And yes, they remain very much relevant
today. They are also exploring how to evolve in the Web3 world.
In 2006, Time Magazine chose Web 2.0 as the Person of the Year.
The story noted that the Internet had “became a tool for bringing
together the small contributions of millions of people and making them
matter.”12 At the time, the red-hot property was MySpace.com. This
social network allowed for users to create content and connect with
friends.
The belief was that Web 2.0 was the beginning of a new egalitarian
Internet. It was common to think of it as decentralized, since the users
had the power.
But this would eventually fade. The mega operators like Google,
Facebook, and Twitter would control much of the online world –
including the valuable data on billions of people.
These companies would amass enormous power. Just look at
Google. In the fourth quarter of 2021, the company posted revenues of
$75 billion, up 32% on a year-over-year basis, and the profit was $20.6
billion.13 The company had ten online properties with over 1 billion
users.
The company also was more than search and online apps. It owned
Waymo, one of the world’s largest autonomous driving operators. It
also controlled device companies like Fitbit and Nest.
So, was there too much power concentrated among too few
companies? Many in the tech world believed that the answer was yes.
And this was leading to major problems. After all, could a startup take
on Google search? Or go after the Apple iPhone? Or dethrone
Facebook’s massive social network?
It would not be easy. The fight would also take huge amounts of
resources.
As a result, the tech industry wanted to create a new paradigm –
one that was truly decentralized and in control of the users. It was the
Web3 paradigm.
“Web3 appeals to so many different kinds of people that have been
slighted in one way or another by corrupted centralized parties,” said
Josh Neuroth, who is the head of product at Ankr. “Platforms like
Facebook used and manipulated user data in ways we never thought
possible. Governments failed citizens with economic policy, sanctions,
hyperinflation. Now, people see ways to regain some privacy, autonomy,
and freedom in Web3.”14
Other documents randomly have
different content
February, or March will give
compact blooming plants for the
next winter; and thereafter new
ones should take their places (Fig.
163).
Fig.
165.—
Fig. 166.—The Scion Fig. 167.—The Parts
Scion
Inserted. Waxed.
of
Apple.
Another form of grafting is known as budding. In this case a
single bud is used, and it is slipped underneath the bark of the stock
and securely tied (not waxed) with soft material, as bass bark, corn
shuck, yarn, or raffia (the last a commercial palm fibre). Budding is
performed when the bark of the stock will slip or peel (so that the bud
can be inserted), and when the bud is mature enough to grow.
Usually budding is performed in late summer or early fall, when the
winter buds are well formed; or it may be practised in spring with
buds cut in winter. In ordinary summer budding (which is the usual
mode) the “bud” or scion forms a union with the stock, and then lies
dormant till the following spring, as if it were still on its own twig.
Budding is mostly restricted to young trees in the nursery. In the
spring following the budding, the stock is cut off just above the bud,
so that only the shoot from the bud grows to make the future tree.
This prevailing form of budding (shield-budding) is shown in Fig. 168.
Suggestions.—128. Name the plants that the gardener propagates by means
of cuttings. 129. By means of grafts. 130. The cutting-box may be set in the
window. If the box does not receive direct sunlight, it may be covered with a pane
of glass to prevent evaporation. Take care that the air is not kept too close, else
the damping-off fungi may attack the cuttings, and they will rot at the surface of the
ground. See that the pane is raised a little at one end to afford ventilation; and if
the water collects in drops on the under side of the glass, remove the pane for a
time. 131. Grafting wax is made of beeswax, resin, and tallow. A good recipe is
one part (as one pound) of rendered tallow, two parts of beeswax, four parts of
resin; melt together in a kettle; pour the liquid into a pail or tub of water to solidify
it; work with the hands until it has the colour and “grain” of taffy candy, the hands
being greased when necessary. The wax will keep any length of time. For the little
grafting that any pupil would do, it is better to buy the wax of a seedsman. 132.
Grafting is hardly to be recommended as a general school diversion, as the
making of cuttings is; and the account of it in this chapter is inserted chiefly to
satisfy the general curiosity on the subject. 133. In Chap. V we had a definition of a
plant generation: what is “one generation” of a grafted fruit tree, as Le Conte pear,
Baldwin, or Ben Davis apple? 134. The Elberta peach originated about 1880: what
is meant by “originated”? 135. How is the grape propagated so as to come true to
name (explain what is meant by “coming true”)? currant? strawberry? raspberry?
blackberry? peach? pear? orange? fig? plum? cherry? apple? chestnut? pecan?
CHAPTER XVII
HOW PLANTS CLIMB
Note to the Teacher.—It cannot be urged too often that the specimens
themselves be studied. If this chapter becomes a mere recitation on names and
definitions, the exercise will be worse than useless. Properly taught by means of
the flowers themselves, the names become merely incidental and a part of the
pupil’s language, and the subject has living interest.