The Forward Protocol Perspective — Web3 Technicals, Decentralization, and Publicization
The blockchain space is confusing, scary, and exciting at the same time. Its influence cuts across industries, and its potential is undeniable, even for the internet. However, one has to understand the origin of the web and its original purpose to appreciate the role the blockchain could potentially play in its evolution.
In regards to the internet, the blockchain’s staunchest supporters predict a utopian future where every user can participate in a free, open protocol without any central authority. These qualities were part of the original vision for the internet, but it is evident to any observer that the current version of the web has strayed far from these tenets.
In a decentralized web, any user can post anything without permission or central authority approval. This decentralization property also means no central controlling nodes, no single point of failure, and kill switches exist. Decentralization also means zero censorship and surveillance.
The founder of the web, Tim Berners Lee, and a few others were the first to recognize the potential of an open-protocol network. They made the underlying code freely available so that every user could potentially contribute to the product they use. This decision led to the popularity of this invention, reaching close to a 60% usage rate in January 2021.
We are far removed from those days. The current version of the web fails on multiple or even all of these conditions. It does not take much to admit that the web is not decentralized. However, it was not always like that.
At the time of its invention, the web was the most advanced innovation, and everybody wanted a piece of the pie. This enthusiasm led to the publicization of the web. Investors bought stocks, joined IPOs, and funded companies that did not have a go-to-market strategy because of this technology’s ‘infinite’ growth potential.
However, the web quickly maxed out its growth potential early in its lifecycle, with the dot-com crash representing a critical point. Post the dot-com bubble, only a few companies remained, and they continued to grow, consolidate and dominate the space. These big tech companies developed a monopolistic grip on the market and unchecked access to user data.
Hence, as for the publicization, the web failed spectacularly on this front too. However, one can draw parallels between the events of the early web (Web 1.0) and now (Web 3.0). Publicization is a critical aspect of an open web so that control is not concentrated in the hands of a few big-tech companies and data stored on central servers.
Web 3.0 technicals
Web 3.0 is a new version of the web that operates on the blockchain and adopts its inherent features such as decentralization, tokenized economies, smart contracts, and decentralized applications.
For example, Bitcoin is a blockchain-based application that runs in a distributed manner at scale currently with around 15,000 full nodes. This implies that there are no central servers. Its security infrastructure increases as the network grows and becomes more distributed (aka the more nodes it has).
Web 3.0 is pioneered by a new generation of developers building and looking to avoid the major pitfalls of Web 2.0. They are building a version of the web that delivers the original vision of the founders of the web — open-protocol, decentralized, non-discriminatory, consensus, and universality.
However, building scalable and secure dApps remains a significant limitation for this new generation of developers. Developers have spent years trying to find the solution to this problem. One can even conclude that the growth of centralized servers was accelerated because it was the only feasible way for a computational solution to meet user demands for web applications. Blockchain technology offers a viable solution.
Enter Forward Protocol.
What does Forward Protocol do?
We make things simple. We connect the traditional business world with blockchain using no-code toolkits, and we make the dream of blockchain adoption practical.
Forward makes blockchain easy for every class of user to operate and understand. Our blockchain adoption toolkits include smart contracts, products, and services that cover every potential use case in the Web 3.0 environment. New users do not have to understand the entire system to enter and participate in the decentralized web.
Developers can use Forward Factory to create and deploy their solutions and profit from them. An open-protocol ecosystem where every user can contribute to its growth — just like Tim Berners-Lee envisioned it — “The web is for everyone.”
Other platforms can also use Forward Factory to reduce their barrier of entry and get to market sooner without significant capital outlays or lengthy development timelines. This way, we can avoid a recurrence of the catastrophic events of the early 2000s that led to the rise of monopolistic, too-big-to-fail, big-tech companies. Once no single participant holds all the aces, Web 3.0 will continue to maintain its decentralized property, which will only improve as more users (nodes) join the ecosystem.
Other blockchains and technologies can integrate with Forward Chain and Forward Factory to quickly deploy their products in one click. Unlike the events of yesteryears, Forward Protocol is not competing with anyone to maintain a stranglehold on the decentralized web. Instead, it focuses on collaboration and adding more users (more nodes = more decentralization).
If it’s easy to use, you’ll use it. If it’s a no-brainer, you won’t say no. That’s what we know and believe. Let’s go forward together!
About Forward Protocol — Forward Protocol uses an easy-to-use WordPress-like model to facilitate a no-code environment that users can use to deploy their blockchain applications without technical knowledge. Forward Protocol has elements of NFT, DeFi, Gamification, AI, ML and Social Tokens inbuilt that connect the value-driven economy. Applications and smart contracts from Forward Protocol can be deployed on any EVM compatible chains in one click. Forward Protocol is cross-chain compatible, industry-agnostic, and adoption-focused, with an ultimate goal to fast-track mass adoption of Blockchain Technology.