Web3 is here. What does it mean for your data?
There are many visions of Web3; what it is, what it does, and when it will arrive. Regardless of how these Web3 ideas actualize, there are large amounts of data that will need to be onboarded from our current Web2 methods into real-world Web3 use cases.
The ever-increasing amount of big data has fallen into the hands of several centralized data providers which can lead to data breaches, high egress charges, mutable data, and ultimately, a lack of ownership and control. Web2 data storage may even be more antiquated than many know, as much of the modern archival data storage methods still use magnetic tape. Web3 will drastically change the methods and protocols used to store data creating new opportunities and new infrastructure builders.
Some say Web3 is only a concept or that it is years away. We completely disagree. However, before we can understand if we are entering a Web3 world, we need to review the current Web2 to Web3 paradigm.
Web3 - A High Level Description
A general consensus about Web1-Web3 goes as follows:
Web1: Read-only
Web2: Read and write
Centralized: mostly owned by large platforms
User-generated content
Interactive
We have to trust the platforms with our data
Web3: Read, write, own
Decentralized
Utilized through blockchain technology
Trustless (you don’t need to trust a third party for the system to work)
More ownership of our data
Whether someone believes that Web3 is here or not, most agree that Web3 is still in a state of development. There are, however, many technologies and industries that will make up Web3, which means that some elements may be here and some may not. Also, there is no set arrival date for Web3 since it’s more about the key philosophy of decentralization.
When will Web3 get here?
We believe that Web3 is already here - at least some of the benefits and branches of Web3 are here. The emerging Web3 industry is worth hundreds of billions when you count all of its associated facets: NFTs, blockchain-based companies and services, cryptocurrencies, node infrastructure companies, investment funds, and more. At Seal Storage Technology, we already have real-world use cases such as backing up UC Berkeley’s neutrino research data, making their data immutable through the use of Filecoin, which uses Web3 and blockchain technology.
What does Web3 mean for data?
A key goal of Web3 data is decentralization. This means the data is not owned by one central authority. Data is distributed across a blockchain network, so no single authority or group controls all of the nodes or servers. The big idea is to give data back to the hands of the individuals. The amount of data continues to increase daily and Web3 infrastructure is needed to bring decentralization to life. Some data scientists look forward to Web3 data storage because many more data sets may become decentralized instead of being controlled by a small number of companies and groups. Bringing scientific data back to the owners is a big goal for Sealand many Web3 enthusiasts.
When it comes to scientific data, such as the above Berkeley neutrino example, researchers tend to value the attributes of Web3 data storage: immutability, geographic dispersion, verifiability, and affordability. To achieve these attributes, Seal Storage uses the Filecoin network and we store data across multiple continents. Without these attributes, data will likely stay in a Web2 world. Our goal is to help onboard the world’s most important data onto Web3.
We believe in the future of decentralized data and continue to grow our reach. We currently have data centers powered by renewable energy across North America with 22 petabytes of available storage - the equivalent of about 400 Netflix libraries.
Take advantage of Web3 today and join us at https://www.sealstorage.io/voice