What is the first principles of Web3

Web3 is a concept about the development of the global information network, mainly related to decentralization based on blockchain, encrypted currency and non-homogeneous tokens. The first principle of Web3 is the basic feature and goal of the Web3 project, and it is also the core advantage that distinguishes it from Web1 and Web2. The first principles of Web3 include the following aspects:

· Decentralization: that is, Web3 does not depend on any centralized entity or institution, but is maintained and operated by distributed nodes and participants. Decentralization can improve the security, reliability, transparency, fairness and democracy of Web3, and can also protect the openness, freedom and innovation of Web3.

· Transparency: That is, Web3 can make all data and transactions publicly visible and verifiable, and cannot be tampered with or hidden. Transparency can enhance the trust, traceability, auditability and accountability of Web3, and can also reduce fraud, corruption and waste of Web3.

Autonomy: that is, Web3 allows all participants to have autonomy and decision-making power, without relying on or obeying any intermediary or authority. Autonomy can stimulate the participation, collaboration, creativity and efficiency of Web3, and can also avoid the monopoly, control and intervention of Web3.

Collaboration: that is, Web3 can support effective cooperation and coordination between different entities or institutions to achieve common interests and goals. Collaboration can improve the efficiency, effectiveness, diversity and inclusiveness of Web3, and can also promote the development and evolution of Web3.

· Innovation: that is, Web3 can encourage and support various novel and valuable ideas and practices, both technically and commercially. Innovation can increase the competitiveness, attractiveness, vitality and influence of Web3, and can also promote the evolution and upgrade of the Internet.

· Value: that is, Web3 allows all contributors to obtain fair distribution and incentive mechanisms, both economically and socially. Value can strengthen the incentive, reward, loyalty and satisfaction of Web3, and can also realize the value sharing and value creation of the Internet.

The first principle of Web3 is dynamic evolution

The first principle of Web3 is not static, but evolves dynamically with the advancement of technology, changes in the market, user needs and social development. The first principles of Web3 are expectations and guidance for Web3 projects, but not restrictions and constraints on Web3 projects. According to its own characteristics and goals, Web3 projects can flexibly choose and adjust their own first principles, and can also create and introduce new first principles to adapt and lead the development and evolution of Web3.

For example, decentralization is the basic feature and goal of Web3, but it does not mean that all Web3 projects must be completely decentralized, or that decentralization is necessarily better than centralization. Different Web3 projects may have different degrees and methods of decentralization, and may adopt different decentralization strategies and models at different stages and scenarios. Decentralization is not a static state, but a dynamic process, which needs to be constantly tried, adjusted, evaluated and optimized to achieve the best state and effect.

Another example is collaboration, which is an important feature and goal of Web3, but it does not mean that all Web3 projects must collaborate, or that collaboration is necessarily beneficial to Web3 projects. Different Web3 projects may have different collaboration objects and content, and may also carry out different forms and scales of collaboration at different times and conditions. Collaboration is not a fixed model, but a flexible choice. It is necessary to decide whether to cooperate and how to cooperate according to the actual situation and goals.

Variables and invariants in the evolution process of Web3 first principle

Web3 first principles may have some variables and invariants in the evolution process. Variables refer to those first principles that may change or update with time, environment, demand and other factors, while invariants refer to those first principles that may always remain stable or constant. There is no absolute or fixed boundary between variables and invariants, but a relative or flexible division. Here are some possible variables and invariants:

One possible invariant is decentralization, which is the basic feature and goal of Web3 and the core advantage that distinguishes it from Web1 and Web2. Decentralization means that Web3 does not depend on any centralized entity or institution, but is maintained and operated by distributed nodes and participants. Decentralization can improve the security, reliability, transparency, fairness and democracy of Web3, and can also protect the openness, freedom and innovation of Web3. Decentralization may be the most difficult part of the first principle of Web3 to change or update, and it is also the part that best reflects the value and vision of Web3.

· A possible variable is collaboration, an important feature and goal of Web3, and an important advantage that differentiates it from Web1 and Web2. Collaborative means that Web3 can support effective cooperation and coordination between different entities or institutions to achieve common interests and goals. Collaboration can improve the efficiency, effectiveness, diversity and inclusiveness of Web3, and can also promote the development and evolution of Web3. Collaboration may be the part that is most likely to change or update in the first principles of Web3, and it is also the part that best reflects the dynamics and diversity of Web3. Collaboration may change with different scenarios, goals and needs, and may also be updated under the influence of technology, market, society and other factors.

Another possible invariant is transparency, that is, Web3 can make all data and transactions publicly visible and verifiable, and cannot be tampered with or hidden. Transparency can enhance the trust, traceability, auditability and accountability of Web3, and can also reduce fraud, corruption and waste of Web3. Transparency may be the most basic and necessary part of the first principles of Web3, and it is also the part that best guarantees the normal and legal operation of Web3.

· Another possible variable is innovation, that is, Web3 can encourage and support various novel and valuable ideas and practices, both technically and commercially. Innovation can increase the competitiveness, attractiveness, vitality and influence of Web3, and can also promote the evolution and upgrade of the Internet. Innovation may be the most challenging and risky part of the first principles of Web3, but also the part with the greatest potential and opportunity. Innovation may change with different fields, directions and levels, and may also be updated under the influence of users, communities, supervision and other factors.

What are first principles projects and projects that deviate from first principles

There are many Web3 projects on the market, some of which conform to the first principles, and some deviate from the first principles. Here are some examples:

A first-principles project is Filecoin, a blockchain-based decentralized storage network that allows anyone to earn cryptocurrency by providing spare storage space, and use cryptocurrency to buy storage space . Filecoin conforms to the first principles of decentralization, transparency, autonomy, collaboration, innovation and value. It can provide a safe, reliable, open, fair and efficient storage market, and can also promote the optimization of storage resources Utilization and value sharing.

A project that deviates from first principles is BitClout, a blockchain-based social media platform that allows anyone to participate and influence other users' social activities by buying and holding their tokens. BitClout violates the first principles of transparency, fairness, and value. It not only does not disclose or audit the real situation of its token issuance and distribution, but also does not dynamically adjust its token price and repurchase mechanism according to market supply and demand. Through these actions, BitClout not only caused market imbalance and volatility, but also caused dissatisfaction and resistance from users and the community.

What is the final outcome of a project that violates first principles

Projects that violate the first principles will lose the essence and significance of the Web3 project, and will also lose the support and recognition of users and communities. Projects that violate the first principles will have difficulty adapting to and responding to changes and challenges in the encryption industry, and will also find it difficult to achieve sustainable and valuable development. Projects that violate first principles may face the following possible outcomes:

· Eliminated: Projects that violate first principles may be eliminated from the market because they cannot meet the needs and expectations of users and communities, and cannot compete with projects that comply with first principles. For example, some centralized encrypted asset trading platforms may lose users and trust due to issues such as security, reliability, openness, and fairness, or may fail to operate due to pressure from supervision, review, and blockade.

Exposure: Projects that violate first principles may be exposed, because they cannot hide or cover up their fraud, corruption, waste, etc., nor can they escape or resist supervision and punishment from users, communities, and regulators. For example, some Web3 projects that fake or pretend to be decentralized or compliant may be exposed because of their true identity or purpose, and may be prosecuted for their illegal or unethical behavior.

Be Retrofitted: Projects that go against first principles may be remodeled because they realize their mistakes or flaws, and that they need to be changed or updated in order to survive or thrive. For example, some incompletely decentralized or incompletely transparent Web3 projects may improve their degree of decentralization or transparency by introducing more distributed nodes or opening up more data and codes. First-principles projects collaborate or integrate to improve their own collaboration or innovation.

Projects that deviate from the first principles of Web3 have new vitality after transformation or integration

Those products and projects that violate the first principles of Web3 will have new vitality after being transformed or integrated, because they can adjust their strategies and models in time to adapt to and lead the development and evolution of Web3. They can learn from and absorb the advantages and experience of other first-principle products and projects to improve their competitiveness and attractiveness. They can create and provide more value and services to meet the needs and expectations of users and communities. Here is an example:

Steemit is a blockchain-based social media platform. Steemit was originally a decentralized blogging platform based on the Steem blockchain, allowing users to earn cryptocurrency rewards by posting and liking content. Steemit violates the first principles of Web3, such as decentralization, transparency, autonomy, collaboration, innovation, and value, because it has centralized operators and reviewers, and no one can freely use it Publish or obtain content, all content records and rules are not publicly visible, all participants cannot vote or propose the platform through the governance token STEEM, and all innovations and optimizations cannot be achieved through open source code and community contributions. All content providers and likers cannot obtain value returns through fair distribution and incentive mechanisms.

Steemit has made a series of changes and attempts in order to transform or integrate its own model, structure and functions to better comply with the first principle of Web3. First, Steemit launched Smart Media Tokens (SMT), a custom token protocol based on the Steem blockchain, which supports users to achieve content incentives and governance by creating and managing their own social media tokens. Then, Steemit entered into a strategic partnership with TRON Foundation to migrate the Steem blockchain to the TRON network and exchange STEEM tokens for TRON tokens. Finally, Steemit launched Hive, a decentralized social media platform based on the Hive blockchain, which allows users to earn cryptocurrency rewards for posting and liking content. Hive is a fork of the Steem blockchain, which retains all historical data and account balances on the Steem blockchain, but cancels the dependence and influence on the TRON Foundation.

SEC’s lawsuit against Binance.US illustrates the importance of anti-censorship of Web3 projects

The importance of anti-censorship of the Web3 project in the case of the SEC suing Binance.US is that it reminds the Web3 project that it must abide by relevant laws and regulations, respect the rights and interests of investors, and maintain transparency and fairness, otherwise it will face severe supervision and punishment. The importance of the anti-censorship of the Web3 project in the SEC’s lawsuit against Binance.US is that it also demonstrates the ability and advantages of the Web3 project’s anti-censorship, such as decentralization, encryption, distribution and other technical means to protect its own data and Trade, or protect your own interests and goals through social means such as community, collaboration, and innovation.

In conclusion

The first principle of Web3 is the basic feature and goal of the Web3 project, and it is also the core advantage that distinguishes it from Web1 and Web2. The first principle of Web3 is dynamic evolution, which needs to be constantly adjusted and updated according to technological progress, market changes, user needs and social development. The first principle of Web3 may have some variables and invariants in the evolution process, which need to be flexibly selected and divided according to the actual situation and goals. There are many Web3 projects on the market, some of which conform to the first principles, and some deviate from the first principles. The final outcome of projects that violate the first principles may be very bad, because they will lose the essence and significance of Web3 projects, and will also lose the support and recognition of users and communities. Those products and projects that violate the first principles of Web3 will have new vitality after being transformed or integrated, because they can adjust their strategies and models in time to adapt to and lead the development and evolution of Web3. The importance of anti-censorship of the Web3 project in the case of the SEC suing Binance.US is that the Web3 project must abide by relevant laws and regulations, respect the rights and interests of investors, and maintain transparency and fairness, otherwise it will face severe supervision and punishment. It also demonstrates the ability and advantages of the Web3 project to resist censorship, such as protecting its own data and transactions through technical means such as decentralization, encryption, and distribution, or protecting its own interests and interests through social means such as community, collaboration, and innovation. Target. It is the right way for all Web3 projects to develop themselves based on first principles, because only in this way can the value and vision of Web3 projects be reflected, and the needs and expectations of users and communities can be met. It is the right way for all Web3 projects to develop themselves based on first principles, because this can promote the innovation and progress of the encryption industry, and also promote the evolution and upgrade of the Internet.