Understanding decentralized data management in Web3

A look at different Web3 technologies and their use cases for managing data in a decentralized context

Web3 is a concept that is used to describe the evolution of the internet. It is the promise of an interconnected serverless internet, i.e. the decentralized web. An internet where users are in control of their own data, identity and destiny.

This goal for the internet to progress to is an advanced form of value to be built on distributed ledger technology, beyond the initial proven use cases of digital scarce value with Bitcoin, and then programmable money with Ethereum.

The Web3 internet is built on fundamentally different infrastructure, utilizing blockchains and distributed peer-to-peer networks, compared to the current existing internet which rely on server-client relationships. To adapt to this new infrastructure, new methods of handling and interacting with data in a decentralized context need to be developed to account for the open, transparent and distributed nature in which Web3 applications operate.

Completely new applications will be enabled by this technology, by building with structures that eliminate reliance on corrupt/censoring central authorities. They will leverage immutability and open economic incentive systems to generate highly accurate and verified information without trusting other parties.

The following projects have built tools that serve as useful examples of how data can be managed in Web3.