Elon Musk recently says that “Web3 sounds like bs” on Twitter on Dec 2, while Musk responds to a thread by OpenAI CEO and former Y Combinator president Sam Altman.
Furthermore, Altman only makes predictions about the returns for venture capital investments. Then, predicts the coming decade will see far worse performance.
However, he still notes that Web3 could still be a field for the same kind of returns as in the past decade.
Musk’s comments are sure to rile the crypto community, some of who have already dismissed it as just another incendiary comment on the Twitter space. The crypto community is all for the decentralization of the internet, which is what Web-3 is trying to facilitate.
More so, Web3 is popular to become one of the most promising ideas to come out of the crypto space. Meanwhile, there are still many viable solutions on the market, such as decentralize domain name services like Unstoppable Domains.
Furthermore, This will help to prevent censorship of websites, and censorship at the heart of Web3. Then, a good privacy rating, security, and control of identities is also an important part of Web3 vision.
Lastly, The space is recording good progress with adoption. Notably, Web3 protocol revenue over the past few months is growing, according to Web3Index.
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