[miles7]

I have a dumb question that keeps nagging me, and wonder if someone here has a good answer. What does Web3 necessarily have to do with the web? Couldn't an iOS app which uses blockchain technology as a decentralized database be just as good an example of what Web3 is trying to achieve? Or a technically oriented command line app for finance using a blockchain which does not involve a web browser?

Are Web3 people just using "web" as a stand-in for the internet?

[waffle_maniac]

> Couldn't an iOS app which uses blockchain technology as a decentralized database be just as good an example of what Web3 is trying to achieve?

Until Tim decides to wave his hand and shut it down. Same thing with a hosted website. But developers could distribute the web app as html and then users run it locally. It connects to the blockchain and submits transactions.

> Or a technically oriented command line app for finance using a blockchain which does not involve a web browser?

Interacting with smart contracts does not require a web browser.

[acdha]

Cryptocurrency has no value beyond what someone is currently willing to pay you for it and blockchain networks are expensive always-on distributed systems which require payment in other currencies. That requires a constant stream of new buyers, and the combination of limited usefulness and mounting bad reputation was starting to cut into it.

“web3” is the rebranding campaign which the large holders came up with to try to drive demand.