Web 3 encapsulates the vision of a fairer and more transparent web that prior iterations failed to achieve.
Web 1: The World Wide Web first gave rise to the mass replication of information that was traditionally stored in physical mediums (books, vinyl records, community boards, etc) onto the digital world. Early web content manifested as static webpages, and while it opened up an entirely new channel to disburse and access information, there was a lack of interactivity.
Web 2: As technical innovations in storage, computing, and Internet bandwidth brought a drastic reduction in costs to engage, the web evolved to give rise to mass participation aka user-generated content. Streaming services, social networks, and collaborative business tools became a normal part of life, and tremendous socioeconomic returns were unlocked for the companies that were able to build products & services people loved. While providing great value for users, this led to significant challenges around data ownership, rent extraction by tech oligopolies, and vendor lock-in with no exits.
Web 3: With the creation of blockchain technology, the web is evolving yet again to redistribute control back to the users. By serving as a neutral third-party arbiter for data, the most valuable currency in a digital-first world, users don't have to rely on middlemen like banks and private companies to engage in trust-based relationships. This leads to a multitude of yet-unexplored means to efficiently coordinate and exchange value across previously siloed digital networks and physical borders.
Content platforms that enable creators to earn their rightful share of generated economic value without being forced to pay high platform fees
Organizations that distribute governance authority and claims on revenue based on the value of their participants' financial or labor contributions
Global cryptocurrencies that enable cross-border payments to people who may not have access to a bank account but have access to the web
Abridged follows the pragmatic practice of Incremental Decentralization. While we promote the benefits of integrating Web 3 components to extend an application's functionality, you and your users are never bound by dogmatic decentralization philosophies. You are free to build an application that lies anywhere along the decentralization spectrum by picking and choosing whichever tools will be best for your user experience.
Web 3 components modularly extend the functionality of your application. Below is a running list of the Web 3 components that are available via the Abridged SDK.