Decentralized Metaverse Versus All-in-one Web3 Hub | HackerNoon

Since the inception of digital currencies, decentralized technology has continued to evolve in the direction of web 3.0 (i.e., a new version of the internet with advanced capabilities of decentralization and more real connection). This evolution can be said to be occurring in a layered manner as several web 3 innovations appear to expand the technology as they are introduced.

For example, the creation of digital currencies can be considered as the early step in decentralized technology, then the introduction of Bitcoin expanded digital currencies through integration with the blockchain, then cross chain technology was introduced which grew the blockchain into a network, then Dapps evolved the blockchain network into a decentralized finance system, and more recently, this system grew into a metaverse with the introduction of decentralized metaverses.

Using this layered growth of web 3 technology, a new level of expansion seems to be in development with the introduction of Teritori; a recently publicized blockchain, which is developed to basically function as an all-in-one web 3 hub. That is, the software system being developed introduces the idea of a web 3 ecosystem/cyberspace which integrates all the necessary technologies to enable different kinds of users on the web 3 internet connect, transact and create. It provides an all-in-one Web 3 experience.

This kind of ecosystem seems to be a web 3 technology with a similar or higher level of complexity than a metaverse and this article explores the significance of these cyberspaces in the evolution of a new decentralized internet.

Web 3 or Web 3.0 can be defined as an envisioned new international network of devices (internet) which does not have the centralized control that the current internet has, uses artificial intelligence and integrates virtual reality technology to make people feel more connected.

The internet has been evolving since its inception. From the introduction of a read only, text-based World Wide Web known as Web 1.0, it developed into the modern-day interactive network which also supports images and videos alongside text. This is known as Web 2.0. One major problem with Web 2.0 however, is that it is built on infrastructure like servers, masts, satellites etc. that are owned and controlled by individual organizations with centralized management. Hence, Web 2.0 has centralized control.

This is a problem because there is little or no democracy in the running of the web as these few centralized institutions get to decide for billions of internet users, how they will use the internet. These institutions can and have carried out some questionable acts on the internet (e.g., selling user information), and they get away with it due to little or no oversight. Also, this centralized operation is not very secure as a problem with any of the central infrastructure can compromise the internet.

Due to these problems and more, concerned people began to advocate for decentralization on the web and over time, interested people with tech skills began developing the technology for a decentralized network which in recent times has culminated into decentralized apps (dApps) and decentralized metaverse.

This decentralized network that is currently being developed is what is known as Web 3.0 and ideally, it should involve an interconnection of all the individual decentralized technologies and should be freely available for anyone to join, use and contribute to. It is also envisioned to be intelligent and have extensive graphical user interface.

Web 3.0 is built on blockchain technology and artificial intelligence. In 1999, the idea of Web 3.0 was presented by Tim Benners Lee who invented the World Wide Web as follows;

“I have a dream for the Web [in which computers] become capable of analyzing all the data on the Web – the content, links, and transactions between people and computers. A “Semantic Web,” which makes this possible, has…