Why is Web3 So Crucial for Avalanche Dapps?

With the rapid pace of progress and innovation, blurred together with at least as much buzz-word saturated hype, it can become easy to get lost in the growing wave of news, advertisements, and social media blasts around the next big thing. Two of these buzzwords driving conversation are “Web3” and “Dapp”. What makes it more difficult is that you can’t just dismiss the news on either term. There are genuinely world-changing innovations that are being developed, and entire ecosystems are growing so rapidly that they feel like they are appearing overnight. It might be worthwhile to pause, review these buzzwords, and take a sample snapshot of how they are being used—not next month, not years from now, but today—in ways that show just how important Web3 is, Dapps are, and just how interconnected the two have become. While there are many large ecosystems that could be examined, we’d like to target the Avalanche Blockchain ecosystem here because of its architecture, which makes it require the innovations Web3 offers even more than competing ecosystems. However, that dependency also leverages even more benefits through its client platform Dapps. Why Web3? While you can find a number of great in-depth descriptions of Web3 characteristics (and what exactly Web1 and Web2 were), we are going to assume you know the basics here and will focus on a few key elements that make Web3 truly unique over the current version of the internet. A key f...