We use the web for rich, complex interactions: to engage with one another, to make purchases or to do business, for creating and storing, and for numerous other use cases. And we think of all these interactions on the web today as decentralized interactions among peers, facilitated by transparent and secure services. In reality, powerful centralized services (able to manipulate, use, copy, and sell our data at will) mediate most of these transactions. Enter “Web3”.
Web3 is the evolution of the current Web2 internet infrastructure, based on the concepts of decentralization and self-sovereignty. But how Web3 can achieve these goals has been limited because the best tool we have for decentralization and self-sovereignty, the blockchain, only deals in tokens. And nearly all the blockchain-based applications today manipulate tokens in some way: trading, lending, locking, swaps, bridges, AMMs, auctions, NFTs. Businesses and people are more than financial applications; they run on data.
To facilitate the continued adoption of Web3, we’re making data accessible – not just files in a decentralized file store, but real data; rows and columns, keys and values – on the blockchain with our newest primitive.