Web 3, also known as "Web 3.0," is a term we hear a lot these days. It means the next Internet that promotes decentralized protocols and seeks to reduce reliance on tech giants such as YouTube, Netflix, and Amazon. But what exactly is Web 3 and why is it being talked about?   The History of Web Web 1.0 (1989-2005) Web 1.0 or also called the Static Web or read-only web, was the first and most reliable internet of the 1990s. It consisted of a collection of links and homepages. Web 1.0 only offered access to limited information with little or no user interaction. Web 1.0 lacked algorithms that could filter internet pages making it very difficult for users to find relevant information. Simply put, the old web generation was like a one-way highway with narrow pathways where content creation was done by a select few and information mostly came from directories.   Web 2.0 (2005-present)   The Social Web, or Web 2.0, made the internet much more interactive thanks to advances in web technologies such as Javascript, HTML5, CSS3, etc., which allowed startups to build interactive WebApps platforms. Some call it a "read/write" type of internet. It's a name that comes from computer code that allows you to open and edit files, not just browse. These developments also paved the way for social networking and user-generated content production to flourish as data could now be distributed and shared among various platforms and applications. With this version of the Internet, people can not only consume content, but also create their own and publish on blogs such as tumblers, Internet message boards, and marketplaces such as Craigslist. Later, with the rise of social media such as Facebook, Twitter and Instagram, content sharing reached new heights. Shortly thereafter, people realized that their personal information was being collected by tech giants and used for targeted advertising and marketing campaigns. Facebook, in particular, has drawn criticism for violating data privacy laws, with a $5 billion fine in 2019. This was the highest ever fine by the FTC. Web 2 has brought great free services to the world, but people are tired of the new Walled Gardens created by big tech companies and want to take control of their data and content. That's where Web 3 comes in.   Web 3.0 (In The Future) Web 3 can be understood as the "read/write/own" phase of the Internet. Rather than using a free tech platform in exchange for their data, users can participate in the governance and operation of the protocol. This means that people can be participants and shareholders, not just customers and products. In Web 3, something like a stock is called a token or crypto asset (virtual currency) and represents the ownership of a decentralized network called a blockchain. If you have enough tokens, you can have a say in the network. Governance token holders can use their assets to vote on the future of decentralized lending protocols, for example.   Characteristics and Features of Web3 As Web 3 becomes mainstream, the way data is handled will shift from centralized to decentralized. Web3 is the future of the internet. It is still very much in development, but it has some very prominent features that differentiate it from other blockchain protocols. Decentralization In Web3, this is no longer the case. We will rely on decentralized networks to provide an open, free and decentralized web. We have developed tools that allow us to connect to these new networks, as well as to bring back the power of the original web, through a token-based protocol. With the development of Web3, a new concept of decentralization is being explored called ‘distributed ledger technology’, also known as DLT. In this, information would be stored based on its content and hence be decentralized.   This would give people more power over their own data. It would mean less power in the hands of corporations like Facebook and Google. The World Wide Web has always been a web of interconnected information. Now it’s going to be a web of interconnected information generated by dispersed and increasingly powerful computing resources, including mobile phones, desktops, appliances, vehicles, and sensors, that are all owned and operated by individuals rather than large companies. Trustless and Permissionless   In addition to decentralization and being based upon open source software, Web3 will also be trustless (i.e., the network will allow participants to interact directly without going through a trusted intermediary) and permissionless (meaning that anyone can participate without authorization from a governing body). If Web 3 is going to run on blockchains or peer-to-peer networks, or a combination thereof, decentralized web applications are called dApps. Artificial intelligence (AI) and machine learning   The computer understands information the same way that humans do. These technologies are based on Semantic Web concepts and natural language processing. Web 3.0 is the future of the web. It uses machine learning to create smarter user interfaces and content for consumers. Computers will soon have capabilities to create faster and more relevant results in many areas such as drug development and new materials, rather than only targeting specific types of users or advertisements.   Connectivity and ubiquity Web 3.0 is a network of connected information that is now available from anywhere at any time through many different devices. You can access information and content through the Internet, in your cell phone, on your laptop, and on your television.—one example of which is the Internet of Things.    What can you do with Web3   Web 3 will allow for the spread of collaborative governance structures for products that were once centralized. Memes, works of art, personal social media output, tickets to conferences hosted by famous entrepreneurs, anything can be tokenized. A typical example of a paradigm shift can be found in the gaming industry. Gamers complain endlessly about bugs left by developers in their favorite games, or about the latest patches that have upset the balance of their favorite weapons.    With Web 3, gamers can invest in the game itself and vote on how it will operate. Two major web companies, such as Meta and Ubisoft, have created virtual worlds supported in part by Web3. NFTs (Non-Fungible Tokens) also play a major role in reinventing the gaming industry by allowing players to become irrevocable holders of the items they collect.   Read More About NFT : What is NFT , and How Does it Work?   Criticism of Web3   The main criticism of Web 3 technology is that it falls short of its ideals. It is also said that ownership of blockchain networks is not distributed equally, and tends to concentrate on early participants and venture capitalists. Recently, Jack Dorsey, CEO of Block, and various venture capitalists have sparked a public debate over Web 3, and the topic has been brought to the forefront.   At the heart of the criticism is the idea of a Decentralization Theater. This means that blockchain projects are nominally decentralized, but in reality they are not. Private blockchains, venture capitalist-backed investments, and Decentralized Finance (DeFi) protocols, where few hold the key to hundreds of millions of dollars worth of money, are examples of decentralized theater.   And despite the community of protocols that are supposed to be leaderless, there are clear leaders. For example Ethereum co-founder Vitalik Buterin continues to have on the Ethereum network, even though he's no longer involved in development. Vitalik Buterin himself is a strange and contradictory phenomenon, acting as a spiritual leader in a system without a leader in effect, while retaining an astonishing amount of influence over the leaderless system he creates and oversees. Even within decentralized financial protocols, things are not so good. Absenteeism of voters is rampant and often relies on centralized infrastructure. Considering that blockchain creation looks like esoteric magic that only the most specialized engineers can do, the barriers to entry for creation are still high. But despite these problems, Web 3 has a lot of potential. Whether it is too idealistic to realize will be discovered by ordinary users in the next 10 years.  

The first wave of DeFi (Decentralised Finance) applications is starting to take shape and is expected to lead to a series of innovations across the web3 stack—from better privacy and decentralised identity to more efficient smart contracts and other distributed computing technologies.  Web3 is the decentralized world of smart contracts and dApps. The hype around it is so big that even though we are still early days, there is already a lot of buzz around it, and people have started building their own blockchain-based applications. DeFi (decentralized finance) developers must ultimately choose whether the technology they design will make the existing economy more efficient or the foundation of the new one.   Defi is a New Breed of Digital Asset   The idea that DeFi's efficiency can replace traditional financial back-end systems is often brought up when thinking about the real-world use cases. The FinTech revolution is just beginning to take shape. Behind DeFi are new ideas and innovations that we've never seen before. Fintech are gonna be in the foreground of it while Defi will take place on its back , replacing TradFi (Traditional Finance) as back-end systems.   The rise of Defi and Fintech will overtook TradFi. There are lots of reasons why we are seeing this trend. One reason is that Defi/Fintech products tend to be lower priced and easier to access than traditional banking products. Traditional financial institutions can be quite difficult to deal with. They have many, many rules and regulations they must adhere to. Additionally, there is a lot of red tape involved in starting a new business and getting money to fund it. This means that most people are forced to continue using traditional financial institutions rather than moving to Defi/Fintech solutions.   Combination of DeFi and Web3   With the arrival of Web 3.0, decentralized finance (DeFi) is getting more and more traction. According to a recent report from DeFi Pulse, DeFi is growing rapidly as a new category within cryptocurrency, and DeFi is now a $50 billion market. Ethereum-based protocols, such as MakerDAO, Compound, and Augur, have been dominating headlines and are generating a ton of interest, but it is still early days for this space. DeFi is still relatively small compared to the traditional banking and lending system.   But Despite that , DeFi has emerged as the most promising application of the Web3 ecosystem. It encompasses a wide range of activities such as DEX ,DApps, Decentralized Governance, and a variety of other related projects and tools. It’s quite difficult to predict how the implementations will be, because there are a lot of factors that we must take account for. However, one thing that almost everyone agrees on is that DeFi is at the intersection of blockchain and the internet. Thus in line with the Web 3 Model.   The combination of DeFi and Web3 will be the most powerful tool for dApps development. The DeFi ecosystem is built on top of Web3 technology. So, there will be strong synergies between DeFi and Web3. This combination will lead to massive adoption of Web3 technology in all kinds of business use cases.   A New Economy for Web 3.0   Developing for a purely new Web 3 native economy is like assembling a lego from zero. It can be done, but it will require a lot of effort. Since there's already an underlying infrastructure behind DeFi , its a logical move to combine those two projects to cut some corners while improving mass adoption rate for both.  It's important to remember that if its just Web 3.0 itself , it will not create a new business revenue or economic model. The current status of web 3.0 is that it has very little traction and very little use cases on the public scale. But this is only because the general public hasn’t yet been educated on the fact that there’s even a need to use blockchain technology to achieve the end goals of the new Web 3.0. And as the general public becomes more educated on the topic, it is inevitable that the usage of decentralized technology and blockchain will skyrocket.   By combining Web 3.0 and DeFi Instead, several new products with a whole kinds of economic models emerges such as Digital Identity (ID), crypto-collectibles (NFT), Smart Contracts (blockchain), DAO (Decentralized Autonomous Organization), Decentralized Applications (DApps), and many others. Each of these economic models has its own strengths and weaknesses, but each one has one thing in common: the majority of them are still in their infancy. While some of these models are more mature than others, the majority are still in the very early stages of development, with the main problem being widespread adoption.   Integration of DeFi and Web 3.0 in Metaverse   The Metaverse represents an opportunity to solve some of the problems of the current internet. The real opportunity for the Metaverse will come when we have all the decentralized applications that live in the Ethereum network. An Ethereum-powered metaverse? It's certainly a very cool idea. However, it's hard to imagine how anyone could get started in the near future without a working prototype. I don't know if you've noticed, but all the tech people are using blockchain-based technology for some sort of purpose. They are not just using it as a buzzword.   As Blockchain technology develops and becomes widely used in financial systems, blockchain has the potential to revolutionize the entire financial system, and its applications in finance are only just beginning. With the rise of DeFi, many people are starting to realize the importance of decentralized finance and are looking for new ways to use the technology. Metaverse, which is one of the most promising projects built on top of the Ethereum blockchain, has been able to create a very strong synergy between the two, thanks to the combination of Decentralized Finance and Web 3.0.    KunciCoin in its roadmap are combining all of these subjects into one single system. With just one wallet you can connect to many kinds of DApps. With blockchain on its back created on BSC Platform and a massive list of DApps in front ot it. Combining both DeFi and Web 3.0 model as one platform in its Metaverse journey.   GameFi as a New Model   Given the rise of social media, MMO (massively multi-player online) gaming, and virtual reality/augmented reality, the concept has been growing for some time. However, the usage of the word itself has become new, as NFT and DeFi have become more popular, and the economic meaning of this concept has become clearer.   GameFi is probably a more concrete example. Games have long attracted players through story/narrative, gameplay mechanics, and visuals/graphics. Games like Axie Infinity brought a fourth element to it. It's an in-game economy.Whenever possible, game developers use templates, modifiable frameworks, and relocatable infrastructure to create the previous three elements. If game makers want to add an economic layer, they are likely to succeed if they have a relocatable DeFi infrastructure.   KunciCoin partnered with KunciGames and KunciNFT are also joining this big industry. Creating a lot of games and combine it with DeFi as a way to embrace the GameFi industry. The game studio is focusing on creating IP ecosystem using Kunci universe lore and its world setting (“Kunciverse”). Kunci Games is currently developing their own title, series and game along with its plan to publish multiple A/AA game titles from Indonesian local developers to populate our gaming ecosystem. The DeFi platform on DoyanRebahan also helping this project to grow by inputting DeFi system in it.   GameFi highlights the fact that it is impossible to realize a monolithic DeFi marketplace where market governance is tied to the same mechanism that governs protocols.   A New Approach as a Solution   The old way is to get carried away with lobbying governance and wasting effort on devoting developer resources to DeFi integration. This will not allow it to expand beyond the financial base of the new economy.The new approach is to integrate it with Web 3.0 , allowing each project to leverage its core capabilities and focus on developing the products and services people want.