Enable an open, censorship-resistant web
Web3 is the next evolution of the internet that combines many legos from past decades.
Benefits include internet freedom, privacy, and ownership over your personal web.
Join us in shaping tomorrow's digital world. Unite with Web3 and lets connect.
What is the Web?
Why Web3 matters
Web3 often gets mixed up with other terms/buzz words such as "crypto" or "defi". However, the current web you use now is often referred to insiders as "web2".
While Web3 can include many decentralized services, it symbolizes the multiverse, or the entirety of all decentralized & P2P networks. Some may refer to this as the "metaverse", or even "dweb", but we can agree to disagree 😉.
Having access to web3 is important so you are in control of what you are able to do.
Web3's Current Path
Nostalgically recalled for chat rooms and IRC by tech enthusiasts, signifies the era of integrated services like AOL dial-up, providing web access, email, shopping, and chat for mainstream users.
Featuring improved gaming, online apps, and video streaming, was swiftly monopolized by Silicon Valley, creating a top-down system controlled by a few tech elites. Despite innovations, this system, including the broader internet infrastructure like ISPs and domains, regulates your web experience, often citing "safety".
The advent of Bitcoin sparked innovation, but over time, centralization increased. Factors such as the influx of big money, greed, hype, and FOMO contributed to this trend. The introduction of many money legos worsened the situation, leading to boom and bust cycles.
Web3 emerged as a buzzword to replace DeFi, but its meaning varies. Despite aiming for decentralization, Web3 relies on centralized crypto/DeFi infrastructure. Money dominates over ideology, driven by funders. A balance is necessary between free markets and public goods to address the current imbalance.
Web1 is probably best remembered by geeks as chat rooms and IRC (which still exist to this day, but only to power users). To normal users it was the age of AOL dial-up and similar networks where you got web, email, shopping, and chat all in one place..
Web2 since evolved with the web browser and we got better gaming, online apps, video streaming and calling and much, much more. However, it also got quickly captured by Silicon Valley and what some refer to as the "tech bros".
So despite the innovation that occurred, it has turned into a top-down system where only a few geeks/CEO's and their investors control your entire web.
This also excludes the wider internet infrastructure of domains and ISP's (internet providers and hosting), who also play a part in controlling your web, be it for your "safety", or other reasons.
We get the birth of Bitcoin and all of the innovation that followed. While BTC and a handful of other chains have remained decentralized both in operation, and access, the innovation over time has caused things to re-centralize.
This is due to several factors including big money coming in, pushing greed, hype, and "FOMO". The invention of several new logos's causing this to only get worse, creating a classic "boom" and "bust". Human nature tends to be greedy, so over time, money overrode principles.
Many development teams prioritized inventing new ideas and "shipping" them to users, while selling them "tokens" to exit at their expense, all while knowing none of what they created was truly decentralized.
It became one large crypto casino.
What to say about Web3? Honestly... upfront it appeared to get used as a new buzz word to replace "DeFi". Terms like "Web3" and "Metaverse" have many different meanings to many people. It is intended to include more than just money and trading, and yet every blockchain-based system that can be labeled "web3" still builds onto of the same centralized crypto/defi infrastructure.
The end result is an ecosystem that promotes and wants to be decentralized, but where money overrules ideology, ethos, and principles. This is in part due to who's bankrolling it all, and thus the incentives to build make it more about the money then about freedom.
There needs to be a balance here between free markets/money and public goods/infra, and so far things are way out of wack and need to be fixed.
Busting the Web3 Myth: Embracing True Openness
Time to Walk the Talk
Let's have a heart-to-heart about Web3. There's a myth that needs to be cleared up. Some folks claim it's all about being wide open, but the reality is a bit more nuanced.
Not every Web3 service walks the talk. Censorship can actually find its way into blockchains too. It's a surprising twist, but it's something we need to fix.
But hold up – we're not here to point fingers. We're here to set things straight. It's about acknowledging the facts and rolling up our sleeves. Together, we're pushing for actual openness and the kind of decentralization that counts. It's not about fancy words; it's about action.
So, let's dive in and make Web3 what it's meant to be – no myths, just reality. Join us – it's time to turn talk into a true, open web for all.
Building the open, user-owned web you deserve
Right now, Lume has only one full-time developer, a few freelancers, and limited helper staff! We need help from developers, fundraisers, funders, and contributors to bring the new internet to the masses.
A message from Derrick
Some of the world's largest online threats right now are censorship of speech and money. Web3 represents unifying many legos to create a truly user-owned web. Decentralization is a means to an end, not the end itself. The true goal is that you are in control of your personal web, and no one else.