Why Web3 Matters: A New Era of Internet Ownership and Control

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Hatched by Glasp

Aug 06, 2023

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Why Web3 Matters: A New Era of Internet Ownership and Control

In the ever-evolving landscape of the internet, we are now witnessing the dawn of the web3 era. This new era combines the decentralized, community-governed ethos of web1 with the advanced functionality of web2. Web3 represents a paradigm shift in how we interact with and perceive the internet. At its core, web3 is about ownership and control, where users and builders have the ability to own pieces of internet services through the ownership of tokens.

Tokens, both non-fungible (NFTs) and fungible, play a pivotal role in web3. They give users property rights and the ability to own a piece of the internet. This ownership aligns network participants to work together toward a common goal - the growth of the network and the appreciation of the token. This fundamental shift fixes the core problem of centralized networks, where value is accumulated by one company, often leading to conflicts with users and partners.

The concept of ownership and control in web3 is revolutionary. It empowers individuals and communities, allowing them to have a say in the development and governance of the internet. No longer are users mere consumers; they become active participants and stakeholders. This shift from a zero-sum game to a positive-sum game fosters collaboration and innovation, paving the way for a more inclusive and equitable internet.

One of the key benefits of web3 is the ability to decentralize data. In web2, centralized platforms extract and control user data, often exploiting it for their own gain. Web3 challenges this notion by enabling users to retain ownership and control over their data. This decentralization not only empowers individuals but also enhances privacy and security.

Now, let's shift our focus to the advancements in AI language models and the role they play in shaping the web3 landscape. Google's PaLM (Paraphrase Language Model) sets a new bar for AI language models with its impressive parameters and performance. With 540 billion parameters, PaLM is in the same league as some of the largest language models available today.

However, the number of parameters alone does not necessarily translate to a better-performing model. The efficiency of the training process is crucial. PaLM utilizes a standard Transformer model architecture, with some customizations. The training dataset used for PaLM is a mixture of filtered multilingual web pages, English books, multilingual Wikipedia articles, English news articles, GitHub source code, and multilingual social media conversations. Notably, the majority of the sources are in English, with German and French sources following behind.

PaLM's performance is remarkable, surpassing the prior top score achieved by fine-tuning GPT-3. It outperforms the prior score and even approaches the average problem-solving ability of 9- to 12-year-olds. This breakthrough showcases the potential of AI language models in various domains and highlights their relevance in the web3 era.

Combining the concepts of web3 and advancements in AI language models opens up new possibilities. Imagine a decentralized internet powered by AI, where users have control over their data and can interact seamlessly with intelligent language models. This fusion could revolutionize how we access information, communicate, and collaborate online.

To navigate this transformative era successfully, here are three actionable pieces of advice:

  • 1. Educate yourself: Stay informed about web3 and its underlying technologies. Understand how tokens and decentralized networks operate. This knowledge will empower you to make informed decisions and actively participate in the web3 ecosystem.
  • 2. Embrace decentralization: Embrace the principles of decentralization and support projects that prioritize user ownership and control. Seek out platforms and applications that respect your data privacy and provide transparency in their operations.
  • 3. Foster collaboration: Engage with communities and builders in the web3 space. Collaborate on projects, share ideas, and contribute to the growth of decentralized networks. Together, we can shape the future of the internet and create a more inclusive and equitable digital landscape.

In conclusion, web3 represents a profound shift in internet ownership and control. It empowers individuals and communities, enabling them to own a piece of the internet and actively participate in its development. Tokens and AI language models like PaLM play significant roles in this transformative era. By embracing the principles of web3 and staying informed, we can contribute to the growth of a decentralized and user-centric internet. Let us seize this opportunity to shape a future where the internet is truly owned and governed by its builders and users.

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