Ethereum 2.0 Will Be The Rebirth Of Internet Technology

Bitcoin and Ethereum are more than just a ticket out of poverty. Bitcoin is digital gold; a new store of value that will overtake the $11 trillion market cap of precious metals.

Ethereum is digital oil; a revolutionary new technology that allows other applications to be built on top of it. Ethreum is propelling us into a crazy new internet age called “Web 3.0.” It’s the stage right before we’re plugging tubes in our heads and living in the Matrix. I can’t wait!

What Web 3.0 will actually do is create a more open, permissionless internet. This is an internet that’s run by its community and not a handful of big tech overlords. The technology that is best able to achieve this will in turn create “digital oil.”

The title of digital oil is a big deal because oil pretty much runs everything in the actual world. Oil powers cars, our homes, our clothing. It creates the plastics that our electronics are built out of and keeps our medical equipment turned on. Oil is the underlying material that we build our entire lives on top of.

Amazon and Google are the closest things we have to digital oil right now. However, Ethereum has entered the ring. And Ethereum is playing for keeps. It will disrupt everything online if it wins. As Kevin O’Leary from Shark Tank always says, disruptors make investors very rich.

The Problem: You Aren’t Free On The Internet

There isn’t as much freedom on the internet as you think.

Google tracks you almost everywhere you go; social media companies will ban you if you say something out of turn. And YouTube creates algorithms to keep you addicted to watching Joe Rogan conspiracy theories.

Google is the mafia. Your freedom on the internet is tantamount to allowing dozens of mafiosos to follow you around and make sure you don’t cause any trouble. When you step out of line, however, you have no trial, no democratic process, just an execution. You're banned. And the two companies hashing it out over top mob boss are Amazon and Google.

Photo by Daniel Eledut on Unsplash

Amazon Web Services hosts websites for millions of people across the world. While small and mid-size companies make up the majority of that user base, recent polls suggest that larger ones make up at least 10% of that total.

If AWS doesn’t like your website they can remove you from their services as they did with social media renegade Parler, whose right-leaning content isn’t any worse than what you see on Twitter. When Amazon banned Parler, they threatened the entire stability of the company and its workers. They could do this to anyone who uses AWS with who they don’t agree with.

That’s not the internet I want to be apart of. Especially when you’re being banned for a subjective ideology. That’s not a game you want to play when Amazon and Google start banning you because they can change their ideology as they see fit.

The Problem Solver: Ethereum 2.0

Ethereum 2.0 is an upgrade to its blockchain. Blockchain technology is a large distributed network that runs through a native token like Ethereum. It allows anyone to participate and maintain an open-source code.

Blockchain tech going mainstream is what freedom on the internet looks like. It’s the real-life Ready Player One. Let’s just hope, like in that book, the rest of the world doesn’t degenerate while our virtual worlds expand.

Businesses will build their tech on top of Ethereum because it's completely decentralized. Ethereum also allows for neat new disruptive industries like NFTs and decentralized stock brokers.

No censorship. No giant centralized companies like Google or Amazon who run everything. Only a liberated web experience that will change our lives forever. It’s glorious.

Web 3.0 is The Next Big Thing

Web 1.0 is the birth of the worldwide web. Web 2.0 is when social media apps and mobile devices began to take over and we could communicate with anyone across the world instantaneously. Cloud technology was another driving factor in Web 2.0’s success.

Web 3.0 is another gamechanger that hedges on the success of Ethereum and other cryptocurrencies. In fact, it may even be more disruptive than the other two web evolutions. Web 3.0 will create a more open, trustless, and permissionless internet.

Open: Ethereum is built from open-source software that can be accessed by anyone or any community of developers.

Trustless: Google’s motto is “Don’t be evil.” We have to trust that the algorithms are working for us, not against us. This is hard to believe when you discover that there are different search results for your friends. Google and Amazon are not decentralized. They’re mafia organizations.

Permissionless: Anyone can participate. The only law written for Ethereum is what already been put forth into the code. Anything adopted is put through a democratic process where the community votes if it's accepted into the code. This is called a “soft or hard fork.”

I’m usually very pessimistic about technology. I’ve thought many times of throwing my phone into the ocean and driving my car to Alaska to live like an Eskimo. The day hasn’t come — yet.

However, Ethereum has changed my outlook on technology. Ethereum 2.0 is a monumental step in the right direction. One that steps away from life turning into George Orwell’s 1984, where Big Brother — *Cough* Google and Amazon *Cough* — are our overlords ruling the entire world.

We cannot expect the government to stop Google and Amazon from controlling and patrolling the internet. Most of our elected officials barely know how to use Twitter. We can only continue to support tech that returns the power back and ultimately makes the world a better place.

Source:-https://medium.com/yardcouch-com/ethereum-2-0-will-be-the-rebirth-of-internet-technology-3439acc0556a

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