About Web3
When creating and deploying web3 applications, developers rarely use a single server or database to house their data (usually hosted on and managed by a single cloud provider).
Web3 applications, on the other hand, either run on blockchains, decentralised networks of several peer-to-peer nodes (servers), or a combination of the two that creates a cryptoeconomic protocol. The word "dapps" (decentralised apps), which is frequently used in the web3 environment, is frequently used to describe these applications.
Network participants (developers) are motivated and compete to offer the greatest calibre services to everybody using the service in order to create a stable and secure decentralised network.
You'll note that bitcoin is frequently discussed when web3 is brought up. This is due to the significant role that cryptocurrencies play in several of these systems. For everyone who wishes to take part in developing, running, contributing to, or enhancing one of the projects itself, it offers money rewards (tokens).
These protocols may frequently provide a number of services, including computation, storage, bandwidth, identification, hosting, and other online services that cloud providers have historically offered. Participation in the protocol can be done in a variety of technical and non-technical capacities to support a living.
Similar to how they would already pay a cloud provider like AWS, users of the service typically pay to use the protocol. With the exception of web3, money is sent directly to network users.
You'll notice that in this, as in many other cases of decentralisation, intermediates that are pointless and frequently ineffective are eliminated. The governing utility tokens for many web infrastructure protocols, including Filecoin, Livepeer, Arweave, and The Graph (the technology I use at Edge & Node), have been released. Participants are rewarded with these tokens at numerous network levels. This is how even native blockchain protocols like Ethereum work.
