Why Build on Web 3?
Overview of Web 3, the next paradigm in web development
Web 3 is the next generation of the Internet. Web 3, or the decentralized web, promises to make the Internet more free, transparent, and user-focused. Users of Web 3 will be in complete control of their accounts, data, transactions, and identity. The vision of Web 3 is coming to life today, and its foundation is being built by thousands of developers and designers across the globe.
People are more connected than they have ever been in history. Today, 62% of the world’s population uses the internet in some way, shape, or form. 25 years ago, that number was 0.4%. The past 25 years of innovation have given us the ability to freely interact, share, and collaborate with others on a global scale; this is what we call Web 2. Developers today have access to billions of potential users the second they host or upload their website or application to the web, but this unprecedented connectivity comes with a hidden price.
The innovation of Web 2 has given the world a tremendous positive impact, but its negative impact is becoming ever more present. Issues around centralization, privacy, censorship, and ownership of digital goods have limited the previous utopian vision of the limitless connectivity that Web 2 offers.
Blockchain technology and Web 3 based protocols are poised to solve the problems created during the Web 2 revolution. The Web 3 revolution will create an Internet that is truly decentralized where users can freely interact, share, collaborate, and even exchange goods and services at a global scale in a trustless environment.
Decentralized - Users of decentralized protocols do not have to trust a centralized authority and developers do not have to rely on a single point of failure.
Private - Privacy-preserving blockchains give users the ability to choose who and what information they wish to share ensuring developers that their sensitive information is safe.
Censorship Resistant - Information stored on public blockchains cannot be manipulated or deleted, which gives users and developers the ability to constantly access it.
Digital Ownership - By leveraging smart contracts and NFTs (non-fungible tokens), developers can create ways for content creators and artists to monetize the full value of their creations.
In order to succeed, Web 3 will need to rely on its greatest strength, which is the community of builders, leaders, and entrepreneurs that have been inspired by the promise of Web 3. At Figment, our mission is to support the adoption, growth, and long-term success of the Web 3 ecosystem.
We know firsthand how difficult it is to launch a new product or application, and we understand that developers need to have the appropriate resources to capitalize on Web 3’s unique characteristics. This is why we make it simple to build the next generation of the Internet. We provide developers with high-quality developer tools & documentation, a library of written & streamable educational material, and a diverse community in order to ensure success.