Could Point Network Become the Next Standard for Web 3.0?

There is a clear need to define the upcoming ‘Web 3.0’ era as we move closer to it. More specifically, most of today’s “decentralized” projects tend to only have the blockchain element as the sole decentralized part, whereas the rest of it is still largely reliant on Web 2.0. Domains can still be taken away, storage on a centralized cloud can be censored, and servers can and are being hacked. As such, a proper distinction between what is considered to be decentralized and centralized in today’s digital landscape needs to be established as soon as possible, so that we can move closer and closer to full decentralization.

Point Network is here to help

By decentralizing every part of the tech stack they remove what’s known as “a single point of failure” that can be attacked in order to destroy the whole network or app. Think Bittorrent but for the whole Internet and all its applications. Decentralized Twitter, Facebook and Youtube on Point Network would be censorship-resistant, open for everyone, and the algorithm deciding what to show you next — completely Open-Source and tweakable by any user, instead of driven by a big tech AI with the sole goal to make you stay as long as possible by showing you shocking content and make you see and click the most ads.

As if that weren’t enough, Point Labs promises to not only have support for dApps on their own chain but, because their innovation happens not on the chain level but in the software used to access web3, they can support several chains at once. For instance, instead of centralized uniswap.org you would open uniswap.point which resides on Point Chain, with secure content loaded from Arweave instead of the cloud, with data integrity guarantees, but the final transaction would happen on the Ethereum chain after you see a confirmation window similar to Metamask. They say their long term vision is to have all chains accessible from Point Wallet and Point Browser, including Ethereum dApps, Solana dApps, and even the ability to send Bitcoin and Bitcoin Lightning transactions right from there, thus allowing users the luxury to access the totality of crypto and web3 from one point — with the same secret phrase to access all currencies and chains!

What does the future hold?

Presently, Point Network has an active group on Telegram which often has intriguing conversations about the last alpha version and consists of early adopters. Many venture capitalist companies had also previously expressed interest in the project and invested in Seed and Series A rounds which is always a good sign. Overall, the team looks to be on the right track but a lot of work is yet to be done if Point Network is to achieve its objective of bringing Web 2.0 experience into the world of Web 3.0 in a truly decentralized manner.

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