Elon Musk who yesterday indicated with his tweet that he prefers steering away from the technological advancements in the world wide web by making a tweet saying that the web3 “sounds like BS” has today made another tweet expressing his desire of web3 being a part of cryptocurrency.
The new term which is considered to be the future of internet, Web3 is emerging as a decentralized internet which includes Metaverse and the blockchain technology which will not be owned by one but instead the user’s action will run it.
Web1 was a time of decentralized, open protocols where the online services were at its minimum. Then the era of web2 began communication and e-commerce were done in the online mode. Amazon, Facebook, Google all are the results of web2 development.
Web3, the new version of internet in which the platforms and apps will not be owned by one but instead by users who will earn their ownership stake by working to develop and maintain services. It will work through public blockchains.
Elon musk called Web3 “bullshit” yesterday and today he made a tweet in which he considered Web3 to be the future and also indicated that he does not hate it but instead would want to work with it.
Elon Musk is again confusing his followers with his tweet. He urged Web3 to get into cryptocurrency and join their DAO. The decentralized autonomous organisation allows users to automate decision and facilitate crypto transactions.
If Web3 supports crypto transactions, it can prove to be a key building block for it since one needs to transact crypto coins or tokens to participate in them. But what does Elon Musk want? He supports Web3 or not? His today’s tweet indicates that he wants to earn better profits and make the crypto transactions more efficient with the help of Web3.
