How the NetFlowCoin network will be the foundation of the next internet?
The internet we know today is about to change, not immediately, but over the next few years. We are currently surging toward a transition from a web 2.0 architecture, to a web 3.0-based one. With it, the way we navigate, communicate, and access digital information will change.
To many, the concept of web 3.0 flies over their heads, as the core principle that’s rattling around everybody’s minds is, why does it need to change, and why should I care?
Well, to answer this question we must first understand how we are currently accessing the internet. As many of you know, our entire outlook of the digital world is controlled by a handful of companies, like Facebook, Twitter, Google, Microsoft, etc…
And some have branded the way we access the internet like slaves being told what information we think we want to see. What many people haven’t realized is that our entire digital existence is controlled by these companies.
How this has been done, and many of you have heard about it, and that’s through the mass collection of personal data. We have unwittingly handed these companies our personal data on a silver platter, giving them permission to manipulate our views and reinforce conventional beliefs that have created the most polarized social-economic structure in the history of the world.
Well, this is fundamentally at the core of the next generation internet that we call web 3.0. Regardless of the hype around cryptocurrencies, it’s actually this new distributed, decentralization, that should be the main focal point of the industry.
Taking back control of your data, and the internet
This brings us to what web 3.0 is, and what does it have to offer? Well, in simple terms, the idea of web 3.0 will be that users will have complete autonomy over how their data is used, ultimately giving control of data back to the people.
In a web 3.0 architecture, people will be able to remove the need for centralized authorities I.e Facebook, Google, etc… and bypass their services to get the same, or similar, information without divulging their personal information.
No one knows exactly what web 3.0 will eventually look like, but there are some key characteristics that are beginning to take shape. These characteristics are as follows;
Decentralized & Centralized: The web 3.0, contrary to popular belief will be both decentralized and centralized, as every participant upholding a network’s integrity will become their own centralized location.
Organizational structures in the form of a DAO: Companies in the future may adopt a DAO (decentralized autonomous organization) structure. This can be regarded as one of the highest forms web 3.0 could develop into, whereby businesses are no longer run by a group of individuals, but instead run by a mass amount of people.
Complete control over your data: Any, and all data, will be owned by the individual, and any revenue that data generates. The core concept is that the freedom of data collection for companies is over.
Authentic rights over identity: Your digital identity online is entirely up to the individual, as you’ll have the choice of whether you want to remain open, partially open, or completely hidden across web 3.0.
Sustainability: The current web 2.0 architecture has numerous sustainability, and scalability problems associated with it, as networks crash constantly, and we are confined by the internet/bandwidth speeds. In a web 3.0 architecture, these issues can be overcome, as there will be a combined network of edge computers, etc…. upholding a network’s integrity.
As you can see, these problems have been prevalent throughout the 21st century, but have never really been solved, until now, with the rise of blockchain technology, we are finally at a stage where the internet can evolve by solving these problems.
Where does NetFlowCoin fit into the web 3.0?
So after defining the issues with web 2.0 and the direction web 3.0 is heading, where does NetFlowCoin fit into all of this? Well, NetFlowCoin’s network is a P2P communications network, that operates in the same way we communicate across the current internet. The only difference is that it is completely peer-to-peer, meaning anyone accessing the NetFlowCoin network is subsequently bypassing the need for third-party intervention.
The NetFlowCoin network, in essence, has created the foundation bed for a decentralized web 3.0 internet. Users will have the freedom to store, stream, and share any type of digital content from anyone, with anyone, across the globe.
A decentralized internet isn’t new, it has been around for years, but, with the combined technology of the blockchain, and the hype surrounding cryptocurrencies, people are now incentivized to support a network’s integrity.
A similar function has been applied to the NetFlowCoin network, whereby miners are rewarded by contributing digital content, and internet bandwidth, that generates data traffic. This data traffic is converted into NetFlowCoin rewards.
The previously conceptualized distributed internet model has not been made possible, as there was no network that can support the mass adoption of a P2P communications network, and reward people simultaneously, at least not until today. NetFlowCoin’s vision is to build out a global network that rewards all who participate, creating a win-win internet for all.