Since this seems to be a sort of trend in the online spaces I inhabit, thought I might join in!
How I like to think about web3 is in terms of Web 2.0 and Web 1, so what were those?
Most people consider the internet to have been invented in 1983, as that is the year that the standard of TCP/IP (Transfer Control Protocol/Internetwork Protocol) was formalized, creating a standard way of sending data from computer to computer. Web 1 was characterized by static, informative content.
Now why would people build such a boring internet? Well, they were academics, sooooo.
Web 2 is considered to have started in the mid to late 90s, when technologies like PHP and MySQL solidified. Web 2 is the "interactive web," where users started creating content instead of just consuming. One of my favorite examples of this is WikiPedia, where users created litterally billions of words of content.
Web 3.0 was originally considered to be the "semantic web," that is, an internet where the content itself is machine parseable and easily contextulized. That's a whole bunch of buzzwords for basically "look at this data, this data is related!" The idea was created by the creator of HTTP himself Tim Berners-Lee, an idea I love, and if you do too, then look into the IndieWeb!
And then cryptobros came along.
Insert scary sound effects here
web3 (yes it's lowercase, which I will use to separate it from Web 3), is like worse late Web 1. Also it's a terrifying capitalist hell.
web3 is mostly based around cryptocurrencies, I'm not going to say blockchain because blockchain tech itself is amazing, but cryptocurrencies are an ancaps wet dream (that's bad FYI).
Here are some of the base protocols, technologies, and concepts:
In your average cryptobros mind, these can all come together to make some sort of magical metaverse of happy capitalism wonderland.
One thing you might notice is that the majority of these protocols are static, immutable, or store the entire history. This seems amazing right now, but with exponentially more users and growth, the storage and compute requirements will also rise exponentially, which makes sense from a Big Tech point of view, how else would you sell more CPUs, more GPUs, more RAM, more SSDs.
Theres's a solution that comes to us from the world of economics. It's called Degrowth. With our current situation, quite a few people belive that the solution to our issues with some things like climate change and the hell that is work in our neoliberal economy. The core concept is moving backwards, slowing down, and reversing. We can apply this to web3 aswell! We need to stop pushing forwards on things like PoW cryptocurrencies and move back to Web 2 or 1 tech