Words of Web3 Wisdom
Here is an overview for non-technical business developers,..
Types of Blockchain
1. Public Blockchain
- Open to everyone, fully decentralized
- Examples: Bitcoin, Ethereum
- Use cases: Cryptocurrencies, decentralized applications (dApps)
2. Private Blockchain
- Restricted access, controlled by a single organization
- Examples: Hyperledger Fabric, Corda
- Use cases: Internal auditing, asset management
3. Consortium (Federated) Blockchain
- Managed by multiple organizations, semi-decentralized
- Examples: Quorum, Hyperledger
- Use cases: Banking, supply chain management
4. Hybrid Blockchain
- Combines public and private features, customizable access levels
- Examples: XDC Network, Dragonchain
- Use cases: Real estate, healthcare, government services
5. Enterprise Blockchain
- Tailored for business use, emphasizing security and scalability
- Examples: Hyperledger Fabric, Corda, Quorum
- Use cases: Supply chain management, financial services, healthcare
Types of Cryptocurrencies and Tokens
1. Payment Cryptocurrencies (Money Crypto)
- Designed for financial transactions and store of value
- Examples: Bitcoin, Litecoin, Monero
2. Utility Tokens
- Provide access to specific products or services
- Examples: Basic Attention Token (BAT), Filecoin
3. Security Tokens
- Represent ownership in real-world assets
- Examples: tZERO, Polymath
4. Stablecoins
- Designed to maintain a stable value
- Examples: Tether (USDT), USD Coin (USDC)
5. Central Bank Digital Currencies (CBDCs)
- Digital versions of national currencies
- Examples: China's Digital Yuan, Sweden's e-krona (in development)
6. Governance Tokens
- Grant voting rights in decentralized autonomous organizations (DAOs)
- Examples: MakerDAO's MKR, Uniswap's UNI
7. Non-Fungible Tokens (NFTs)
- Represent unique digital assets
- Examples: CryptoPunks, Bored Ape Yacht Club
Additional Terms
1. Web3
- Next generation of internet services built on decentralized technologies
- Incorporates blockchain, cryptocurrencies, and token-based economics
2. Tech Crypto
- Focuses on blockchain infrastructure and protocols
- Emphasizes technological advancements and development of decentralized applications
3. Decentralized Finance (DeFi)
- Financial services built on blockchain technology
- Examples: Lending platforms, decentralized exchanges
4. Tokenization
- Process of converting rights to an asset into a digital token on a blockchain
- Applies to various assets, including real estate, art, and intellectual property
5. Smart Contracts
- Self-executing contracts with the terms directly written into code
- Fundamental to many blockchain applications, especially in Enterprise Blockchain
6. Distributed Ledger Technology (DLT)
- Broader term encompassing blockchain and similar technologies
- Focuses on decentralized record-keeping across multiple locations
Here is a list of Web2 terms and how they have evolved into Web3 opportunities:
Web2 > Web3
============
Advertising > Referrals
Agreement > Smart contracts
Analytics > Partner Insights
Apps > DApps
Asset > Token
Automation > Programmable Assets
Bank > Wallet
Branding > AI Agent Matching
Centralized Control > Decentralized Cooperation
Collaborate > Corroborate
Community > DAO
Company > Crowdsource
Control > Cooperation
Customer > Stakeholder
Data > Immutable Ledger
Data provider > Oracle
Digitalization > Tokenization
Economy > Circular Economy
Ecosystem > Interoperability
Guidelines > Governance Tokens
Human Limits > AI Velocity
Identity > Certified
Incentives > Digital Passports
Industry > Decentralized Autonomous Collaboration Network (dACN)
Internet > Reality
Loyalty > Co-Ownership
Marketplace > Decentralized Exchanges (DEX)
Money > Transaction
Partners > Co-Creators
Password > Private Key
Privacy > Own/Sell Your Data
Profile > Preferences
Production environment > Mainnet
Proprietary > Open APIs/Standards
Publishing > Minting
Questionable > Transparent
Rewards > Airdrop
Risk > Less Risk
Sales > Service
Scaling > Sharding
Server fees > Gas
Server > Node
Servers > Blockchain
Server Operators > Miners & Stakers
Silos > Cross-Chain Interoperability
Standards > Interoperability
Supply Chain > Value Chain
Sustainability > Accountability
Test environment > Testnet
Finance > DeFi
Trust > Consensus
Unicorn > Wrangled Reality
Unique Media assets > NFT
User names > Public Key
Validate > Zero Knowledge Proof
A simple shape-shift defines humanity's potential for collective progress
"Your unique opportunities will reveal themselves when you consider evolving from the Control triangle to the Cooperative circle."
Our parents, teachers, and bosses taught us how to be successful by making sure we were in control of business models at the top of the triangle.
With new Web3 technologies, we now have functions that allow success to be more inclusive and collaborative across an expansive, healthier ecosystem with win-win, equitable partnerships of co-ownership… More cooperative… More Circular.
With this metaphor, new tech terminology should make more sense for disruptive opportunities of ownership and distribution,
Here are some definitions to put the superpower fun in the function:
Smart Contracts: The Equitable Enforcer
- Superpower: Smart contracts are like digital superheroes. They execute automatically when specific conditions are met. Imagine a contract that springs to life when you buy a house, ensuring a fair exchange without middlemen.
- Functionality: Buy, sell, co-own, and more – all encoded in lines of code. These contracts redefine ownership models. They’re the Robin Hood of transactions, ensuring fairness for all.
Provenance: The Transparent Trailblazer
- Superpower: Provenance is the Sherlock Holmes of the digital world. It traces every step, revealing the origin and journey of assets. Imagine a gem with a built-in GPS that shows its entire history.
- Functionality: With provenance, you can verify authenticity, track supply chains, and ensure ethical practices. It’s like a truth serum for products, empowering conscious consumers.
Tokenization: The Fractional Magician
- Superpower: Tokenization turns assets into magical tokens. Imagine owning a piece of the Mona Lisa or a skyscraper – all through digital tokens. It’s like slicing a cake into shareable pieces.
- Functionality: These tokens enable fractional ownership. You can buy a fraction of a rare painting or invest in a building – all without hefty price tags. It’s democratizing ownership.
Interoperability: The Multiverse Connector
- Superpower: Interoperability bridges parallel universes. Imagine different platforms collaborating seamlessly, like superheroes teaming up. It’s like Spider-Man swinging into the Avengers’ world.
- Functionality: Web3 platforms, blockchain networks – they all speak the same language. Interoperability ensures a unified digital landscape. It’s the Avengers assembling for a common cause.
Decentralization: The Inclusive Dynamo
- Superpower: Decentralization breaks chains. Imagine a network where power isn’t concentrated – it’s shared, where everyone has a voice.
- Functionality: In this cooperative ecosystem, decisions are made collectively. It’s the Justice League of ownership models, empowering individuals and communities.
Zero-Knowledge Proof Matchmaking: The Privacy Guardian
- Superpower: Zero-knowledge proof is the cloak of invisibility. Imagine sharing only what’s necessary – like revealing your superhero identity selectively. It’s like Batman without the mask.
- Functionality: Privacy and security are paramount. With zero-knowledge proofs, you can transact without exposing personal details. It’s the ultimate trust-building tool in a digital world.
These concepts aren’t just buzzwords; they’re the building blocks of a new era to take back control of OUR Web from "Big Tech" (Google, Facebook, Amazon, etc.) and recreate a more inclusive, transparent, and empowered Internet.
Check out our info sessions
Join our free daily and weekly discussions to share and learn together... Bring your AI Robots... or learn how to!
Smart Contracts: The Equitable Enforcer
- Superpower: Smart contracts are like digital superheroes. They execute automatically when specific conditions are met. Imagine a contract that springs to life when you buy a house, ensuring a fair exchange without middlemen.
- Functionality: Buy, sell, co-own, and more – all encoded in lines of code. These contracts redefine ownership models. They’re the Robin Hood of transactions, ensuring fairness for all.
Provenance: The Transparent Trailblazer
- Superpower: Provenance is the Sherlock Holmes of the digital world. It traces every step, revealing the origin and journey of assets. Imagine a gem with a built-in GPS that shows its entire history.
- Functionality: With provenance, you can verify authenticity, track supply chains, and ensure ethical practices. It’s like a truth serum for products, empowering conscious consumers.
Tokenization: The Fractional Magician
- Superpower: Tokenization turns assets into magical tokens. Imagine owning a piece of the Mona Lisa or a skyscraper – all through digital tokens. It’s like slicing a cake into shareable pieces.
- Functionality: These tokens enable fractional ownership. You can buy a fraction of a rare painting or invest in a building – all without hefty price tags. It’s democratizing ownership.
Interoperability: The Multiverse Connector
- Superpower: Interoperability bridges parallel universes. Imagine different platforms collaborating seamlessly, like superheroes teaming up. It’s like Spider-Man swinging into the Avengers’ world.
- Functionality: Web3 platforms, blockchain networks – they all speak the same language. Interoperability ensures a unified digital landscape. It’s the Avengers assembling for a common cause.
Decentralization: The Inclusive Dynamo
- Superpower: Decentralization breaks chains. Imagine a network where power isn’t concentrated – it’s shared, where everyone has a voice.
- Functionality: In this cooperative ecosystem, decisions are made collectively. It’s the Justice League of ownership models, empowering individuals and communities.
Zero-Knowledge Proof Matchmaking: The Privacy Guardian
- Superpower: Zero-knowledge proof is the cloak of invisibility. Imagine sharing only what’s necessary – like revealing your superhero identity selectively. It’s like Batman without the mask.
- Functionality: Privacy and security are paramount. With zero-knowledge proofs, you can transact without exposing personal details. It’s the ultimate trust-building tool in a digital world.
These concepts aren’t just buzzwords; they’re the building blocks of a new era to take back control of OUR Web from "Big Tech" (Google, Facebook, Amazon, etc.) and recreate a more inclusive, transparent, and empowered Internet.
Check out our info sessions
Join our free daily and weekly discussions to share and learn together... Bring your AI Robots... or learn how to!
Contact me to keep our cooperative discussion rolling... around your circle.
FYI - Why Getting Circular is Important...
Circular is a reimagined and redesigned blockchain stack that can manage multiple blockchains. Organizations can subscribe and have a dedicated blockchain without sacrificing decentralization and high computational cost in the hashing to keep security at the top. Circular is completely sustainable and uses a consensus algorithm. Non-competitive mining supports the industry, rather than sacrificing it like other blockchains using proof of stake. They are focusing on FinTech, GameTech, and HealthTech.
More Links: https://linktr.ee/circularprotocol
Share This:
https://bit.ly/Web3_Words