Most people forget or don't know that web 3 already existed for a long time before bitcoin and crypto. Protocols like bittorrent, onion (tor) , garlic (i2p), fediverse (peertube, mastodon, etc), matrix (element) are all pretty old and are used to build decentralized networks. All these protocols don't rally on crypto and are great examples of what web3 can be.

@81Earthangel

2 жыл бұрын

Sadly the industry will always fight these open networks

@infinitydude7305

2 жыл бұрын

As long as there isn't any profit incentive nothing's gonna work out

@willi1978

2 жыл бұрын

Exactly. Web3 is not blockchain. Dezentralised apps can be built without blockchain.

@mitchrapp5214

2 жыл бұрын

@@willi1978 Blockchain gives you that financial incentive which makes it more likely to succeed

@ANGELRA

2 жыл бұрын

@Deborah Hearne Technologies built on top of crypto are not truly decentralized either, only the monetary part is decentralized. I would debate if most cryptocurrencies are truly decentralized, because most of them have a number of whales that would crush the market if they would want to sale their crypto.

Some people assume two wrong assumptions regarding Musk relationship with crypto: 1) That Elon Musk understands Bitcoin, blockchain, smart contracts, DAOs & technically everything, which is totally not accurate. 2) That Elon Musk is always a good & honest player in every sector & he never lies or hides his motives, which is also totally inaccurate.

@saisawant1228

2 жыл бұрын

This is right here. His cult followers are stupid and will believe whatever he says.

@davidmiller9485

Жыл бұрын

One example will prove this: twitter.

Miners DeFi token is at 1M MC right now when the true value of the coin is in the BILLIONS, addressing every issue with crypto that Elon ever brought up. This coin is literally insane. Elon is going to tweet about it this week.

@Dotrund

2 жыл бұрын

No, no he won't. Nice scam bro

@henkweeds1498

2 жыл бұрын

And even if he tweet about it he aint the crypto god

@higherlearning9386

2 жыл бұрын

Scam coin.

Real video starts at 7:30

@dsanxcz3074

2 жыл бұрын

Thank you

@lilgot5257

2 жыл бұрын

before is interesting already lol

The part about competing for enginnering talent at the end of the video was really striking to me. As a young engineer, there are so many areas in tech that seem interesting and worthwhile pursuing that it's really hard to pick and choose one specific problem to focus on

@JohnCooganPlus

2 жыл бұрын

Yeah... hard to say if that's the real reason, but it seems important to me. I've seen more than a few talented young engineers move over to crypto and the trend seems to be growing.

@hiteshbhandari7009

2 жыл бұрын

ikr same with me. As a CS undergraduate what I choose to learn in college can drastically change the direction I go in. But what to choose!

@lifeartstudios6207

2 жыл бұрын

you would think at this point we'd have way more engineers and wouldn't have to fight over the talent pool

@plinden

8 ай бұрын

Nonsense, you need to work on longevity. Otherwise you are soon old or dead and whatever else is moot.

Saying that people shifted to building apps on top of facebook APIs is a drastic overstatement. For most apps, the only functionality they use is the login, and that's just to reduce the friction of signing up, mostly. There are also security implications, but if you have to verify your email and shit, that's another filter that could easily be avoided. People still use pretty much their own databases, although facebook has open sourced a lot of technologies like GraphQL and ReactJS, but the vast of technology the average company uses is open source. I think web 2.0 is more referring to the fact that people don't self host their own content on blogs and stuff as a personal user, not as a developer. I guess there are some companies that build their app on facebook, I don't actually know, I haven't been on facebook in like 5 years, but that's usually probably just to augment their native apps/websites.

@Boxtermaiti

2 жыл бұрын

the game he mentioned "Farm Ville" was completely built on facebook and there was no other way to access it, other than on facebook's website. The same goes for a host of other very popular games. - source: I played all those facebook games when i was a kid

@jonathangava6922

2 жыл бұрын

As a game developer, you can export web apps onto Facebook which would only run on Facebook. Although it would be pretty dumb to only launch your game on a platform like Facebook, but who knows, I'm sure many companies make big money off using Facebook as their main platform.

@BantanaAudio

2 жыл бұрын

Yeah I did a double take when he said that. Usually Facebook authentication is added well after regular authentication is already handled. And these days it's more common to not use it at all. Don't think it was ever common for it to be the sole authentication for any app. What doesn't make sense to me is how using the blockchain as a database is at all better than me using digital ocean or Heroku etc....

man just watch some of your videos last night and they're incredible

Anyone who knows how NFT works will know that it is very centralized. If a centralized server puts its data in decentralized database but you have to access that data via the centralized server. It is still centralized.

@stealthysaucepan2016

2 жыл бұрын

It may not be perfect but is still more decentralised than current models

I’ve been following all these subjects deeply for years. This is extremely fantastic journalism. If you had a persona ICO, I would by buying.

@anticlux

2 жыл бұрын

You mean an NFT project, right?

@api2216

2 жыл бұрын

@@anticlux he means if this youtuber were to sell himself, he would invest

@emmanueloluga9770

2 жыл бұрын

@@api2216 hhahahahaha lmfao. This sent me tf out.

@shafsteryellow

2 жыл бұрын

@@emmanueloluga9770 actually not a stupid idea... Investing in youtubers/accounts will be a business model going forward just look at big KZreadrs like Mark Rober ect they get more views from their back catalogue compared to their releases... Investing in a youtube acc would give you access to reliable income/dividends in the form of back catalogue views and allow for greater investment in future. Not inconceivable that big youtube account that have multiple channel could trade ownership for direct investment/access to infrastructure. We'll be back to institutional investment backed media conglomerate in no time... just like streaming at the beginning it was amazing since you could get a range of content for a set unitary price now you have prime, Hulu, Disney +, HBO Max, Paramount+, Netflix Apple TV and more and more people will purchase 2/3 of these platforms going back to the cable package prices of yesteryear.

@emmanueloluga9770

2 жыл бұрын

@@shafsteryellow Thank you for the lesson, but I am not oblivious to the aforementioned situation I was merely laughing at the way the comment was worded with the combination of the profile pic. Even after the fact, nothing really surprises me anymore and its just humor at this point

This is a phenomenal analysis of Web3, will share around. Hats off to you.

Your videos are sooo good! Subscribed!

It's AMAZING how you pack so much information in this 14min video!

I remember vividly the excitement for a _decentralized_ web when blogging was taking off. Everybody, including myself, was writing on some different server, but at the end of the day, the decentralized contents all got aggregated through RSS, and later Atom. If you didn't like your blog service provider, you could easily migrate over to another, or set up one by yourself. Fast forward a couple of decades and vast, vast majority of the public are now generating content only on the few giant social media platforms. I think, fundamentally, it's an economical phenomenon -- (well-managed) corporations at scale are always more efficient, and 99% of the people are willing to outsource anything they can outsource, because they have so many other things to pay attention to. Especially when the outsourcing is nominally free of charge. This is very similar to the fate of every communist attempt, inevitably falling into dictatorship, and only capitalism stays (more or less) stable.

@davidmiller9485

Жыл бұрын

Their is nothing stable about Capitalism. Go look at a stock market chart going back to the 20's. It looks like a set of skiing slopes. With major a peak in 1929 (for what it's worth there is one in 1876 or so and more both earlier and later), that took a war to correct. There are many more. Since going off the gold standard those peaks are getting closer. To be honest we don't regulate Capitalism enough for it to be stable over fairly long periods of time.

@ThemFuzzyMonsters

Жыл бұрын

There is also a geopolitical aspect I am not understanding. Decentralization is a practical and efficient concept but it will quickly run into inherent control issues of the real world. The fight over the control of TikTok data is perhaps a good example.

@SMoore-vj7bt

10 ай бұрын

But none of those protocols you mentioned offer the eventual consistency of blockchain. Mastodon's federated system is entirely capable of not being consistent across the entire network.

Thank you for your clear and concise information. I know little about these fast moving developments and want to know more. You are interesting and deliver your thoughts effectively.

This is informative as usual! Thanks John!

@jamedo8819

2 жыл бұрын

Hi Psych2Go! How are you doing?

You are incredibly concise and effective in your messaging around these revolutionary topics.

@karenthomson9749

2 жыл бұрын

It’s a Load of bs... musk is right..

This channel's growth is on steroids! When I discovered it about a week ago, it had just 50K subs. Today, I've opened this video to watch it after work, and to my amazement, 91K subs on the channel!!! You're a true inspiration to me and many other fans of the channel, John. Keep educating and entertaining us. We need this.

I truly enjoyed the critical thinking given to this topic. Thank you

Wow. This video covered so much and framed it all so perfectly!

@user-qu3og9jc3l

2 жыл бұрын

TeXtMe DiReCtLy👍

Your videos are just on another level, seriously. I have been binge watching you from sometime and your content is way too good. I like how you ask questions and have that transition. The use of music is genius. Keep it up!

Man, I am so glad the KZread algorithm found you for me.

really enjoy the content keep it up!

Superb execution on the info and quality!

Jesus, your channel is awesome! Keep going mate...

"Check out this video" and 3 videos later i'm here, you are really brilliant at luring viewers into this unending chain of linked informative videos.

"you don't need to worry about the underlying protocol changing" doesn't really apply for ethereum since the etherium foundation can alter the protokol (for example eth supply) if they want to.

Great content dude 👍

What an awesome and informative video!!!! Thank you!!! :)

Your Videos are amazing!!! Thanks!!

Excellent video. “You’re gonna go far, kid”.

After 14minutes, all I know is that people want more power away from these FANG companies but nobody knows who to give these rights to. It's probably overly optimistic to think that getting rid of centralisation will allow for a higher quality of innovation. In the end, the rich and talented will still prevail and the poor will still suffer.

@ImperialMindMusic

2 жыл бұрын

Fang?

@im-a-pickle

2 жыл бұрын

@@ImperialMindMusic FAANG - Facebook, Apple, Amazon, Netflix, Google

@l1mbo69

2 жыл бұрын

@@im-a-pickle why include Netflix but exclude Microsoft?

@mitchrapp5214

2 жыл бұрын

Trying to create a position were users own their data and can easily migrate to other dapps when they choose. This should in theory boost innovation as applications will have to continue to build to keep their userbase as there is no inherent lock in to the underlying app or platform. Whether this can be achieved is the question.

@just_a_random_person9910

2 жыл бұрын

have you heard of the deep web? i can bye guns and cocain on it. it runs on the web 3 p2p model that is what happenes when moderation is taken away

Just finished a youtube deep dive and your videos are what caused it! Love the content man!!

How do you have such amazing animations (besides the fabulous content) 😍

OMG, the explanation doesn't stop coming. All nectar..

Resonated a lot with this. Great vid John!

@user-qu3og9jc3l

2 жыл бұрын

TeXtMe DiReCtLy👍

Am from Mozambique a country in Africa just wanna let you know you will blow up! your content is gooooooood

@JohnCooganPlus

2 жыл бұрын

Thanks a lot! I love hearing from people all over the world.

This was amazing. I am grateful and impressed.

What is the opening music in all your videos?? I can't find any info or links....

Excellent explanation, so simplified yet so profound .. keep up the good work !!! Looking for more content.

Awesome video. I'll check more of your channel! It's nice you point out how Elon is in the wrong when he disses Web3 without reason. I hope to see the technology be mainstream more than it already is.

Can we get a list of movies that had clips used in the video?

you earned a subbed. Very informative

Interesting video, well done

Very intelligent, very precise. One of the best analysis of Web 3.0

I would like to see THAT conversation.

Sheeeittt! Ziggy and Nick are getting into web3!

A conversation between Elon and Vitalik would be amazing.

This guy deserves more views, awesome videos!

John Coogan fell for the $/marketing, ETH, SOL, Defi, NFTs, decentralized in name only.

Guys check out, ironically enough, The Web 3 Project. It's going to be both a DAO with an APY feature that can auto-compound every 3 seconds with an APY of 400,000%. For the next 2 weeks only, the APY has been temporarily increased to 1.6 billion! I'd suggest to check this project out and DYOR.

@user-qu3og9jc3l

2 жыл бұрын

TeXtMe DiReCtLy👍

I subscribe to only a few channels this is one, and if curious, coin bureau is one of the others, both are great thanks for the awesome content

Love the video, but could you make closed captions available? I really enjoy reading while watching so I can pay better attention. Just trying to help you improve! Been subbed for a few months and it's always interesting!

@neilswetam

2 жыл бұрын

yes caption please

@dsddala467

2 жыл бұрын

Same, Benjamin. I had ADHD really bad and reading along keeps my attention focused. Just listening and I notice everything around me, and walk away half through the video. LOL

love the way, u explain these complicated technological queries....bravo buddy... looking forward towards the desired success of your channel

Thank you for the video

Web3 is one of those sound great, but will never work. Why would the big companies cede power? And as we are seeing crypto itself is just seeing big players rise and take the power. Web3 is a pipe dream.

@TheMostHated

2 жыл бұрын

Nah not quite. More like an alternative rather than a replacement. I think web 3 shares the open source philosophy very well so theoretically any company that makes their stuff open source might be able to achieve their goal even faster with decentralization. It all depends on the business model. Not every company will have a traditional model

@CaiRobinson

2 жыл бұрын

@@TheMostHated sure, but look now at the companies that provide their stuff open source they tend to be non profits. Companies like to keep to themselves for good reasons

@videphris3934

2 жыл бұрын

It is when their user's take a stand and take back our power. Companies sell and trade our information, and sometimes there are breaches due to this. Web 3.0 is not a pipe dream, it will come, whether you like it or not.

Solana shouldn't be the best example of an L1 Web3 Ecosystem. It's technically flawed. Blockchain couldn't go faster without sacrificing security. You should instead check out the Hashgraph.

@John Coogan I like your videos so far. They are usually easily understood, and informativ at the same time, but what's the problem with mainframes? The pictures of some old computers might not have given me the right idea about the problem with mainframes, and I might not be the only one.

@Shiffo

2 жыл бұрын

Agreed, my understanding is that it's a centralized solution and that can make it risky? Additionally COBOL is an old programming language that does not even get taught in universities anymore with most companies transitioning to JAVA. From what i understoof though, the main advantage of COBOL is security/stability which is important for Banks.

In decentralised network does the network change with different coins? Also, will there be standard network on decentralised network?

I get that you can have an ownership token of some widget on the blockchain, example the deed to your house. I'm sure I'll never forget my password or lose my private keys and fail to actually prove that it's me who owns my house. What incentive does a company like Quickbooks have to use a decentralized network? How would their sophisticated relational database even work in a decentralized architecture? If I want 3rd parties to access my data, how does key sharing work? Why is everyone talking about all of this technology in such broad strokes without much specifics on how all of this will actually work? Will it truly be more secure or will I just be opening myself up to more problems? Would this mean I'll never have to do backups again? If everything is immutable, how do I rollback? Can I trust an Ethereum Virtual Machine more than AWS or Azure? Why does none of this make sense to me?

I have a question, can you write code? If so, what language is your preference.

Dude, I love your analytical thought process but also your ability to convey it so well. What is your work background if you don't mind me asking? New subscriber here, keep it up.

@JohnCooganPlus

2 жыл бұрын

I've been an entrepreneur for the past decade, raised a bunch of money from VCs and am generally pretty plugged in around Silicon Valley. My background is in computer science and economics.

@memerified

2 жыл бұрын

@@JohnCooganPlus ok noob i like robux gaming robux me the elon when your the musk

I still don't understand how you build a decentralised Facebook or a decentralised open-standard? The platform or standard (code & data) has to exist somewhere centralised right? Just like the image in an NFT is stored centrally, not on the blockchain.

@shableep

2 жыл бұрын

There will be apps that make it easy to manage your decentralized identity, personal data like messages, and money. You’ll also have apps that make it easy to read and sent decentralized messages. These apps will be made by anyone and compete on features, but they will all rely on the same decentralized messaging service. Messages will be similar to transactions on Bitcoin, except instead of sending money you’re sending text.

@insertnamehere2787

2 жыл бұрын

NFTs are not stored centrally. They are stored in IPFS. Long version: The link to the IPFS is stored as Smart Contract in a Blockchain that your NFT is minted on e.g. on the Ethereum Blockchain and will therefore forever be part of it.

@ouranosTheos

2 жыл бұрын

These data will be stored in a decentralized file storage system. Like IPFS

@De1Litto

2 жыл бұрын

Crypto transactions dont move the assets. They move ownership registration.

great content guys. keep it up

@user-qu3og9jc3l

2 жыл бұрын

TeXtMe DiReCtLy👍

Man I just like you explaining stuff you really are top1% of people at speaking and explaining eventhough you don't have enough subscribers I fully believe that if you keep on posting contents like this you will be very successful.

NFTs are data packets with security, endlessly programable. Web3 is a bunch of interwoven protocols trading data packets, that can be written over and secured and stored/owned locally. In previous webs we had to choose two, now we get all three.

Web3 sounds all good in sound bites, but it is terrible in practice. I have dabbled with many cryptos involved in decentralized governance. You soon realize nearly all of their governance is decentralized in name only. You always see massive consolidation of voting power around a few validators. It is not only because of the VC problem. It is also the average crypto buyers' fault. They just buy crypto to speculate on the price and don't engage with the system. Most of them just buy and park it on the exchange. In the end, all these centralized exchanges have large voting power because of how apathetic your average buyer is toward decentralization. However, there are some cryptos that succeed in convincing buyers to move their stuff off centralized exchanges. They achieve it by paying out extra gains or airdrops. None of it happens because the buyer cares much about the tech or decentralization principle. It seems, Web 3 is again one of those crypto's attempts to find a problem nobody cares about and use it to justify crypto as a solution. People just don't give much of a damn about Web2's flaws.

@karenthomson9749

2 жыл бұрын

Thankyou for some common sense... it’s all hype.

@diegobarreras

2 жыл бұрын

Most important comment above all. Even as a web3 enthusiast, i agree with you.

What's wrong or outdated about big companies using mainframe computers? And what would be the better alternative?

@sesetio338

2 жыл бұрын

BIGGER COMPUTERS ;)

I like how you took 2/3 of the video to introduce and explain the subject before talking about Elon's point of view! Unfortunatly, I'm probably dumb as fuck because I still don't understand most of it. . . Learned some cool acronyms though :')

Benjamin Franklin once said: "Those who would give up essential Liberty, to purchase a little temporary Safety, deserve neither Liberty nor Safety." blockchain basicly give us liberty but that also mean taking responsibility to our own hand. This is just same like nft, web 3, and any tech coming from decentralization tech.

Promising new channel, keep up the great work and you'll have a million subscribers in no time.

The fact that mainframes still exist and are growing is proof that the alternatives are not viable in the real world. The real world where people have mortgages and pay taxes. Web 3 is a solution looking for a problem.

@harvirdhindsa3244

2 жыл бұрын

There are plenty of technologies that have been replaced. I don't think your real world argument makes much sense here. Plenty of technologies have come and gone, regardless of real world expenses.

This is such a great channel

I learned. Now I know why web 3 is called

This video provides way more than the title suggests

Does n't all this blockchain stuff need masses of computing power, at a time when we need to reduce power consimption?

dude. Liked & subbed.

11:04 what movie/tv show is it from?

The problem with blockchains as 'web3'? They aren't the web, and aren't even really decentralized. Blockchains are centralized in location (the internet) and can't break into smaller parts like a true decentralized system can. And blockchains really have nothing to do with the web, so all blockchain services end up with extremely centralized websites/services. The true web 3 is with software like zeronet, which allows for truly decentralized websites.

awesome

Web3 is what AI is to non-linear regression. When people use buzzwords to complete the same task differently without any significant gain it tends to irritate, especially if you're a professional in the field (it's like a doctor watching an ER episode). There is amazing value to be generated from Web3 architectures and design patterns from staying in control of your personal documents and transactions (blockchain) to revoking access to your medical logs or identity and access management (NFT). However I am the tech guy in this so I roll my eyes hard when people pretend Web2 is going to undergo some kind of mega shift towards Web3 which just isn't going to happen because the truth is people don't care at all. If I want to send my nana an e-mail I don't care about what decentralized ledger my message is stored on, I just want to tell my nana I miss her. What these tense times have taught us however, is that we have built a dependency to the accessibility to these tools which is where I think Web3 will provide most of its value in the upcoming decades.

I've developed a several test decentralized apps I started last year this is how how I've been creating web3 apps.with block chain web search I'm not sure if I'm one of the first to develop this but I know it works for sure I have an old phone I developed everything on as a test phone the networks runs a bit slow but it works.

New does not equal better or more efficient. I have personally worked on projects to “Modernize” ancient Mainframe systems. What normally happens is that we modernize the UI and end user experience, but don’t touch the COBOL. It would cost too much in dev time and compute to replace the mainframe. I’ll read more about Web3, but if their current shining star is NFTs, I’m not impressed. Also, Web1 didn’t go away. Anyone today can build their own platform from scratch and host it on the internet. No one is required to use Facebook, Google, or any other Web2 service. I personally think their will be a resurgence of more Web1 type services than a real growth in Web3. That said, I’m old.

Great channel

So good

web3 doesn't HAVE to use blockchain. it can use non-incentivized networks like tor or i2p

where is the " the algorithm message " in the end.

0:44 Cute visual but signing in with username and password was already Web 2.0. Web 1.0 was the one where most webpages were just HTML and JS (or VBS 🤮) and all of web servers' job was to be reachable and deliver content. The Web 2.0 revolution was brought with the easy server-side scripting solutions and notably PHP which made it super noob-developer-friendly. So forums, blogs with a comment section, or even guestbooks were already Web 2.0

@Mouradif

2 жыл бұрын

oh this is explained later in the video... then why keep that misleading visual at 0:44 😆?

wow amazing content!! ....please add subtitles too

how do you invest in web 3

Excellent content

@user-qu3og9jc3l

2 жыл бұрын

TeXtMe DiReCtLy👍

3:37 silk road!!

Great content but i’m slightly annoyed at the lack of myspace in this video. it’s not fair to give all the credit to facebook!

I still don't see how we can use Web3 without being into some crypto currency. What about those that don't want to invest in crypto and want to use the internet when web3 takes over?

7:34 yes but large tech companies are already limiting their allowance of web3 platforms i.e. Twitter is making nft avi’s that must be verifiable on the blockchain

What is the title of the movie with Christian Bale?

The concerns about Solana are valid I personally like Monero Wish u could do a vid about it, I'd really like to hear your thoughts

Came for the clickbait-y title. Stayed for the insightful content

Please write captions.

Love how you start from the past, very insightful!!

@JohnCooganPlus

2 жыл бұрын

History doesn’t repeat but it rhymes.

@4kgotit

2 жыл бұрын

@@JohnCooganPlus 😯 Thats a beautiful quote. If you heard it from somewhere do you by any chance know the author coz I really like it🤩

@JohnCooganPlus

2 жыл бұрын

"History doesn't repeat itself, but it often rhymes." This quote is often attributed to Samuel Clemens (a.k.a. Mark Twain), an American humourist and public commentator. Born in 1835, Clemens had a front row seat during one of the most exciting, dynamic periods of globalisation in human history -- the turn of the 20 Century.

I thought you sounded really familiar... Like Peter Gregory from Silicon Valley HBO