Blog Insight

GLG Trend Report Excerpt:
dApps over Apps: Web 3.0

In the first excerpt from the GLG Trend Report: The Impact of Cryptocurrency, I shared the role that Filecoin and other decentralized file storage networks are playing in the profound transformations coming to the internet and marketing technology. In this excerpt, let’s take a look at how Web 3.0 may spell the end of third-party apps, not to mention make the internet a little more human.

And for those of you ready for more, here is where you can download the full report.

What It Is

Web 2.0’s focus on mobile, social, and cloud is severely contrasted by the concept of decentralization that is the core of what is now becoming Web 3.0. To this end, Max Mersch and Richard Muirhead have stated that “Web 3.0 enables a future where distributed users and machines are able to interact with data, value, and other counterparties via a substrate of peer-to-peer networks without the need for third parties. The result: a composable human-centric & privacy preserving computing fabric for the next wave of the web.”1

The concept of “decentralized applications,” or dApps, stems from those apps existing on a decentralized network rather than the types of centralized networks where most of the sites and apps we run into in everyday life exist now. To break that down, rather than running on a “server” that sits in a data center and waits for a request, then sends the answer to that request back to the user over the main internet backbones, dApps sit on peer-to-peer networks and have no specific, centralized location. Because it is peer-to-peer technology, this also means that there is no central controlling authority or company that owns the dApp outright. The bonus of it being peer-to-peer comes in that there is no single point of failure in the form of a server or a connection that can take the dApp offline or make it inaccessible to the users that want to access it.

Why It Matters

Think now to what a highly resilient infrastructure would look like for even a simple application. Building a high-availability app takes a deliberate effort to establish redundancy at every point of failure that could occur along the network, the application, or the databases that provide the associated data. Natively, the peer-to-peer infrastructure builds redundancy into the dApp, meaning that an outage would be highly unlikely. This is critical. The limiters on access and storage are being taken away as the gates have opened to a future state internet.

What can dApps be used for? Well, that’s the best part. Just about anything. There are currently dApp use cases for private browsing, gaming, gambling, and just about anything else you can think of. As we mentioned, there are marketing and business use cases being built by the Filecoin developer community that are creating a resilient and scalable set of dApps that rival the centralized web apps we have all come to know and love.

Check out Cryptopedia’s page on how dApps work for more: https://www.gemini.com/cryptopedia/decentralized-applications-defi-dapps

1. Max Mersch and Richard Muirhead, “What Is Web 3.0 & Why It Matters,” Fabric Ventures, Medium.com, December 31, 2019.

In the upcoming third excerpt from the GLG Trend Report, I explore the future state of web browsing and the way it’s about to change. Big time.