The co-founder of Near cryptocurrency says that Ethereum doesn’t target Web3 issues. Illia Polosukhin says that Ethereum should be focusing on the issues that will let them scale to billions of users worldwide. Currently, they have this problem that could make ETH fall behind. Illia also said that there is a need for easy usage, programmability, and easy application composability. And right now, they aren’t targeting anything as such.
What is Web3?
The current version of the internet that you are using is called Web2. In this version, there are major companies that control specific parts of the internet. For example, the search engine market is mostly controlled by Google, while the social media space is dominated by Meta. There are many other examples of this where the power rests in these companies to do anything.
In the case of Web3, the entire internet becomes decentralized, where the power will rest in the hands of token holders of the project. Some examples of this can be Brave browser as a replacement to chrome or Audius as the replacement to Spotify. These platforms will let users take control of their own data and also how the project goes forward.
Near co-founder on Web3
Illia’s goal with Web3 is to bring complete control of data to the users, which is a big concern at the present moment. He also thinks that Web3 won’t be just about a single solution or app. Instead, it will be a combination of several ones that contribute to different aspects. The key to all this is scalability and interoperability, but Ethereum is not focusing on the same as Near-protocol.
Illia also said how Ethereum’s rollup solution to scalability issues could create issues, and therefore, as a layer 1 solution, Near is implementing sharding. This will allow them to run a lot more applications closely with each other. Near’s goals do seem promising, and they have actually been doing pretty well in the markets.
What are your thoughts as Near co-founder says that Ethereum doesn’t target Web3 issues? And do you think Web3 is the future or is it just a passing fad? Let us know in the comments below. Also, if you found our content informative, do like and share it with your friends.
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