# How to join web3

By [BTC](https://paragraph.com/@btc-63) · 2022-08-24

---

1.  The concept of "Web 3.0" was originally proposed by Tim Berners-Lee, the inventor of HTTP, during the Internet bubble and refers to an integrated communications framework where Internet data can be machine-readable across applications and systems. web 3.0 is also commonly referred to as "Semantic Web" (Semantic Web). By 2014, Ether co-founder Gavin Wood redefined the term proposed by Berner-Lee in a blog post called "DApp: What is Web 3.0" to refer to a blockchain technology that enables "trustless interaction systems" based on "innovative modes of interaction between parties". (1) What is web3? In short, Web3 is a decentralised Internet that aims to create a new system of contracts and disrupt the way individuals and organisations enter into agreements. The combination of Web 1.0 and Web 2.0 creates the digital ecosystem of Web3, in which users truly own their data and transactions are secured by encryption technology. Users no longer need to trust brand endorsements and can rely on defined software code logic to strictly enforce protocols. Web3 has become an all-encompassing term for a new and better vision of the Internet. At the heart of Web3 is the return of power to users in the form of ownership through blockchains, cryptocurrencies and non-homogenised tokens. A 2020 post on Twitter hit the nail on the head: Web1 is read-only, Web2 can read/write, and the future Web3 can read/write/own. (2) The core of web3 ①Blockchain Blockchains are networks with extremely high levels of security and decentralisation, where people can store data, exchange value and record transactional activity in a shared ledger that is not controlled by any centralised entity. The blockchain network is the backbone of Web3, providing a secure execution layer in which cryptographic assets can be created, issued and traded, and programmable smart contracts can be developed. The blockchain is the settlement layer of Web3. ②Cryptographic assets Cryptographic assets are digital pass-throughs that leverage the decentralised and tamper-proof blockchain network environment to fully secure transactions. Cryptographic assets are the native currency of Web3 decentralised applications (dApps), which can also be used to pay for Web3 services and participate in Web3 governance. Prior to the advent of blockchain technology, passwords often referred to units of value used to purchase and trade products or services, such as highway toll booth passes, amusement park tickets and game tokens. In these early use cases, service providers allowed users to pay for services directly in advance by issuing passes. Passes in Web3 applications are also units of value issued to Web3 content creators, but the difference is that these units of value exist in a digital and programmable form, and their function goes far beyond value exchange. In Web3, a pass can represent an investment in a protocol, project or blockchain. Passes can also be used to pay for or secure services within that project or agreement. In addition, a pass can allow the holder to participate in the governance of the protocol or project. ③ Smart contracts and decentralised applications (dApps) Smart contracts are tamper-proof programs on the blockchain that automatically execute transactions using code logic that says "if x is true, then execute y". Programmable smart contracts can create decentralised applications, or 'dApps'. Decentralised applications are protocols based on the cryptographic economy that laid the foundation for the development of Web 3 and put it into the hands of users. Unlike Web 2.0 applications and the static HTML pages of Web 1.0, dApps are not run by any one person or organisation, but by a decentralised blockchain network. Decentralised applications may seem simple, but they are capable of creating very complex automated systems such as peer-to-peer financial services (DeFi), data-driven insurance products and P2E games. ④ Prophecy Machine For smart contracts to realise their full potential, they must be able to interact with data and systems outside of the blockchain network. Prophecy machines can connect the blockchain to real-world data and systems and provide the critical infrastructure to create an interoperable and unified Web3 ecosystem. The Chainlink Prophecy Machine Network will not only be able to transmit financial market data for DeFi applications, but will also be able to perform a range of secure off-chain calculations such as verifiable random numbers and decentralised execution to ultimately enable dynamic NFTs and highly automated dApps. evolving blockchain ecosystems and L2 scaling solutions to enable them to interact securely. The Prophecy Machine extends the Web3 technology stack to transport off-chain data and services to drive smart contract innovation and enable cross-chain interoperability to ensure seamless connectivity across blockchains. chainlink's Prophecy Machine infrastructure also provides an entry point for Web 2.0 back-end systems into the Web3 world, providing an abstraction layer for legacy systems to easily access any public and private chain. Ultimately, the prophecy machine will bring decentralised computing and cryptographic security to legacy systems and build a bridge between Web 2.0 and Web3. (3) Features of web3 -Web3 is decentralised: most of the Internet is not controlled and owned by a centralised entity, but by builders and users who distribute ownership. -Web3 does not require permission: everyone has equal access to participate in Web3 and no one is excluded. -Web3 has native payment capabilities: it uses cryptocurrencies for online spending and remittances, rather than relying on the outdated infrastructure of traditional banks or third-party payment providers. -Web3 does not require trust: it operates through incentives and economic mechanisms, rather than relying on trusted third parties. (4) Advantages of web3 ①Ownership Web3 gives you ownership of your digital assets in an unprecedented way. For example, suppose you are playing a Web2 game. If you buy an in-game item, it is tied directly to your account. If the game creator deletes your account, you will lose these items. Or if you stop playing the game, you will lose the value you invested in in-game items. Web3 allows for direct ownership through non-homogenised tokens (NFT). No one, not even the game creator, has the right to take away your ownership. Furthermore, if you stop playing the game, you can sell or trade your in-game items on the open market and recover their value. ② Anti-censorship At Web3, your data sits on a blockchain. When you decide to leave a platform, you can take your reputation with you and bring it to another platform that is more in line with your values. Web 2.0 requires content creators to trust that the platform will not change the rules, but resistance to censorship is a native feature of the Web3 platform. (iii) Decentralised Autonomous Organisations (DAO) In Web3, in addition to owning your data, you can also own the platform as part of a collective by using tokens similar to company shares. A decentralised autonomous organisation allows you to coordinate decentralised ownership of the platform and make decisions about its future. A decentralised autonomous organisation is technically defined as a pre-agreed smart contract that automatically decides on the decentralisation of the pool of resources (tokens). Users who own the tokens vote on how the resources are used and the code automatically enforces the outcome of the vote. However, many Web3 communities are defined as decentralised autonomous organisations. All of these communities have achieved varying degrees of decentralisation and automation through code. At present, we are still exploring what decentralised autonomous organisations are and how they might evolve in the future. ④ Identity Typically, you need to create an account for each platform you use. For example, you may have a Twitter account, a YouTube account and a Reddit account. Want to change your display name or profile picture? You will have to do this in each account. In some cases, you can sign in with a social media account, but this presents a common problem - censorship. With just one click, these platforms can block your entire online life. To make matters worse, many platforms require you to give them your personally identifiable information in order to create an account. Web3 solves these problems by allowing you to control your digital identity using an ethereum address and an ethereum domain name service profile. Using an ethereum address provides cross-platform single sign-on that is secure, censorship-resistant and anonymous. ⑤ Native payment functionality Web2's payment infrastructure relies on banks and third-party payment providers, which excludes people who don't have a bank account or happen to live in certain "bad" countries. Web3 uses tokens such as ethereum to send money directly in the browser, without the need for a trusted third party. (5) Applications of web3 (1) Decentralised finance Web3 technology allows individuals to create and participate in financial agreements and enables unprecedented inclusivity, security and transparency. This innovative economic model is also widely known by the name of Decentralised Finance (DeFi). The DeFi protocol differs from traditional financial services by utilising a decentralised blockchain infrastructure and the secure data input of a prophecy machine to help users trade directly in a transparent and tamper-proof on-chain marketplace. Take the decentralised cryptocurrency marketplace Aave as an example: Aave's integration with the Chainlink prophecy machine has secured over $12 billion in value for smart contracts. The protocol uses a non-custodial model and its users can lend and borrow peer-to-peer. The money market is a key pillar for the healthy functioning of the economy. By decentralising control and utilising predefined smart contract logic, the on-chain money market is able to reduce the barrier to participation and the risk of single point of failure, and avoid systemic risk and reserve shortfalls. One of DeFi's biggest innovations is composability. Developers can combine different open source protocols into a more sophisticated financial tool, such as creating a lossless savings game using an over-the-top mortgage protocol, developing decentralised stablecoins and revolving idle funds to generate interest income. DeFi's innovative financial applications are by far the most compelling development in Web3, yet Web3 goes far beyond financial transactions to include all areas of the Internet world from entertainment to social media to browsers. ②NFT, gaming and the metaverse NFTs, blockchain games and the metaverse are emerging forces in the Web3 ecosystem, providing verifiable ownership of digital assets, giving these digital goods the same uniqueness as physical assets. With NFT, digital assets can be distinguished from each other even if they look identical, much like two identical books in the real world can be distinguished by their unique markings and wear marks. This is significant for digital artwork, metaverse applications and games. Currently, NFT projects such as Bored Ape Yacht Club (BAYC) are continuing to promote NFT and digital artwork; and blockchain games such as Axie Infinity are gradually disrupting the player economy model of the traditional gaming industry. Achieving this transformation essentially requires blockchain to provide the underlying settlement layer, NFT smart contracts to provide verifiable ownership of artwork, and decentralised prophecy machines to provide key services such as verifiable random numbers, smart contract automation and off-chain data. ③Parametric Insurance Decentralised parametric insurance is another interesting use case for blockchain. blockchain insurance projects such as Arbol and Etherisc are now adopting innovative models to provide users with innovative insurance products of all kinds, such as automated crop insurance and flight insurance, by tapping smart contracts into off-chain data via Chainlink Data Feeds. In the world of Web3, it is easy to buy insurance wherever you are with internet access. With Arbol's on-chain crop insurance, premiums and compensation amounts are automatically generated based on predefined parameters and compensation is paid automatically via insurance smart contracts based on weather data provided by Chainlink. The insurance process would therefore be very efficient and fast and based on simple binary logic to determine whether a farmer should receive a claim. Did the IoT sensor record less than 20 inches of rainfall during the season? If yes, compensation is paid to the farmer immediately. If no, then no compensation is paid to the farmer. This model can also be applied to other areas such as shipping and fire insurance, while blockchain parametric insurance is currently being used in parametric flight insurance. (6) Disadvantages of web3 ①Accessibility Today, everyone can use important Web3 functions, such as logging in using Ether, and there are no fees. However, the relatively high transaction costs are still a deterrent for many people. Web3 is unlikely to be used in less affluent developing countries due to high transaction costs. At Ether, these challenges are being addressed with network upgrades and Layer 2 scaling solutions. The technology is readily available, but we need to increase its adoption in the Layer 2 network to make Web3 available to everyone. ② User experience The technical barriers to using Web3 are currently too high. Users must understand security issues, navigate complex technical documentation and navigate obscure user interfaces. Wallet providers are trying to focus on this issue, but there is still a long way to go before Web3 is adopted on a large scale. ③ Education Web3 introduces new paradigms that require learning different mental models than those used on Web 2.0. As Web 1.0 emerged in the late 1990s, similar educational activities emerged. Proponents of the World Wide Web used a range of educational technologies to educate the public, from simple metaphors (information superhighways, browsers, web surfing) to television broadcasts and so on. Web3 is not difficult but it is different. Educating Web2 users about these Web3 paradigm education programmes is critical to their success. ④ Centralised infrastructure The Web3 ecosystem is young and rapidly evolving. As such, it currently relies heavily on centralised infrastructures (GitHub, Twitter, Discord, etc.). Many Web3 companies are scrambling to fill these gaps, but it will take time to build a high-quality, reliable infrastructure.
    
2.  The content introduced above is only about the basics of cryptocurrency, which is related to whether we can make money through cryptocurrency. Cryptocurrencies make money not only by scientific methods to increase income, but also by finding ways to save money. The handling fees are small, but they must not be ignored. I have calculated that with frequent transactions and long trading hours, the accumulation of fees can add up to more than 10,000 U a year. Next I will introduce a few common ways to reduce fees on large trading platforms. (1) Lowering Binance's fees Binance is currently the world's largest digital currency exchange, and you must sign up for Binance if you want to speculate on coins. The transaction fee is deducted from the assets received. For example, if you buy Ethereum/USDT, the fee is paid in Ethereum. If you sell Ethereum/USDT, the commission is paid in USDT. Example. You place an order for 10Ethereum at a price of USD3,452.55 per share. Transaction fee = 10Ethereum_0.1% = 0.01Ethereum Or you place an order to sell 10Ethereum at 3,452.55 USDT per share. Transaction fee = (10Ethereum_3,452.55USDT)\*0.1% = 34.5255USDT What many people do not know is that the Binance transaction fee can also be reduced. If you want to reduce your Binance trading fees, you must register using the invitation link below or use the invitation code "Q022W7SC". [https://accounts.binance.com/en/register?ref=Q022W7SC](https://accounts.binance.com/en/register?ref=Q022W7SC)
    

![](https://storage.googleapis.com/papyrus_images/667e39208611aea7d2fd22c499d4eddc6a5929ef0df3fc18a5386a953e7d8286.png)

(2) Reducing OKX fees OKX is a professional digital currency trading platform loved by many users, and its transaction fees can be reduced. Depending on the volume of transactions, OKX divides its users into two levels: normal and professional. Ordinary users are graded according to their OKB positions, while professional users are graded according to their trading volume and asset size. The different tiers determine the trading fees for the next trading day. When calculating the fee levels, if the coin trading volume, total trading volume of delivery and perpetual contracts (USDT delivery contract, coin-based delivery contract, USDT perpetual contract, coin-based perpetual contract), option contract trading volume, and asset volume meet the conditions of different fee levels, users will enjoy the fee discount of the highest level. First method: OKX has an official maximum saving of 20%. Use the link below to register with OKX and save 20% on fees. [https://www.ouyi.business/join/BTC1ETH](https://www.ouyi.business/join/BTC1ETH) Second method: Open the OKX website and enter "BTC1ETH" in the "Invitation Code" on the registration page to see the cashback percentage: 20% at the bottom. Be sure to enter this invitation code, otherwise you can not get 20% cashback percentage. (3) Reduce FTX fees FTX is currently a very fast-growing, contract players more exchange, you must register FTX if you play the contract. if you want to reduce the FTX transaction fees, you must use the following invitation link to register. [https://ftx.com/referrals#a=121031692](https://ftx.com/referrals#a=121031692) 3, trading road is long, together with forward Want to know more about how to reduce the commission? telegram: btcethcool We have set up a community dedicated to researching trading, add telegram friends to pull you into the community.

---

*Originally published on [BTC](https://paragraph.com/@btc-63/how-to-join-web3)*