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Here’s a link to the full road map: roadmap.pointnetwork.io)
With “web 3.0” suddenly upgrading from an obscure area of research to a hot topic of mainstream conversation and a significant part of the 2020-s zeitgeist, more and more questions arise about the nature of the beast. Is “Web3” going to stay a vague and undefinable term, or does it have a precise definition?
Besides meanings that became obsolete years ago, like ‘Semantic Web,’ what’s adding to the confusion are all the projects describing themselves as “decentralized” applications (dApps) or “web3”, giving the impression that web3 is already here and alive.
Yet, as we know, such projects still rely heavily on web2 components: using centralized domains that can be taken away at any moment or compromised, centralized storage that is censorable and transparent to mass surveillance, and browser extensions like Metamask or Phantom that Google can disable at any time, which would immediately leave 99% of the users of “decentralized” applications helplessly confused about how to access them. BadgerDAO, a DeFi project hacked for $120M because of centralized UI, shows why this “Web 2.5” approach is in the wrong direction.
World’s First Full Web3 Architecture
Point Labs set out to correct this by creating a new internet that combines all the components of old internet, but with decentralized implementations. Point Network was created instead of sticking to web2 frameworks. It is now a virtual network that can be called Web 3.0.
Point Network architecture comprises decentralized domains. (.point), which are hosted on Arweave blockchain storage, Arweave decentralized identity and other tools. This helps bridge the gap between Web 2.5/full Web 3.
Point Browser will not link to any of the other internet IP addresses. (If you click on a web2 link you’ll be taken to your regular browser. Instead, Point Network forces the developers to use only decentralized components to deploy their dApps, ensuring censorship-resistance, data integrity, data availability, privacy, and enhanced security.
“The Roadmap to Web3”
This, insist founders, is Web 3.0’s most simple definition. Technology enthusiasts have long longed for a fully decentralized internet that was free of censorship, mass monitoring, and allowing direct ownership over data and audiences. Big Tech intermediaries are not allowed to take any cut or exercise dictatorship-like control. How far can we get to this goal?
Point Labs developed their prototype one year ago. They bootstrapped its development using their own money. In October 2021 they showed the alpha version of their prototype on Solana Ignition Hackathon. This placed them on the Honorary Mentions List and allowed them to raise Seed and A rounds from venture capital firms. They were led by Sino Global+FTX, who funded a second version that is more useful and simpler to use.
Point Labs has presented their roadmap this week. And it’s not just a typical ribbon-shaped block on a landing page. It was transformed into a Trello-like website. roadmap.pointnetwork.io, called “The Roadmap to Web3 ” and is frequently updated. The main zone presents the infrastructure needed for decentralized internet. It is nearly complete. The dApp zone lists use cases and possible decentralized applications.
Megaround
Because it is hard for one company to develop all dozens of dApps required for the full Web 3.0 experience, the current plans are to have one last private VC round dubbed ‘The Megaround’ before the public launch at the end of May, to provide grants to interested teams and founders to incentivize building web3 apps on Point Network. The plans for the launch of the mainnet beta is planned to take place by June 1.
Web3 will continue to grow in popularity and there will undoubtedly be some projects that vie for the distinction of being the best. Point Network could be on the verge of becoming one. It seems we’re just a few months away from finding out.
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