An overview of Web3 technology: Infrastructure, applications, and popularity
Web3, the next generation of the Internet, represents a decentralized and democratized web. Although it has garnered significant public interest and found numerous real-world applications, there is a limited understanding of people's perceptions and experiences with Web3. In this study, we cond...
| Main Authors: | , , , , , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
Elsevier
2024-03-01
|
| Series: | Blockchain: Research and Applications |
| Subjects: | |
| Online Access: | http://www.sciencedirect.com/science/article/pii/S2096720923000489 |
| _version_ | 1797214908662677504 |
|---|---|
| author | Renke Huang Jiachi Chen Yanlin Wang Tingting Bi Liming Nie Zibin Zheng |
| author_facet | Renke Huang Jiachi Chen Yanlin Wang Tingting Bi Liming Nie Zibin Zheng |
| author_sort | Renke Huang |
| collection | DOAJ |
| description | Web3, the next generation of the Internet, represents a decentralized and democratized web. Although it has garnered significant public interest and found numerous real-world applications, there is a limited understanding of people's perceptions and experiences with Web3. In this study, we conducted an empirical study to investigate the categories of Web3 applications and their popularity, as well as the potential challenges and opportunities within this emerging landscape. Our research was carried out in two phases. In the first phase, we analyzed 200 popular Web3 projects associated with 10 leading Web3 venture capital firms. In the second phase, we collected and examined code-related data from GitHub and market-related data from blockchain browsers (e.g., Etherscan) for these projects. Our analysis revealed that the Web3 ecosystem can be categorized into two groups, i.e., Web3 infrastructure and Web3 applications, with each consisting of several subcategories or subdomains. We also gained insights into the popularity of these Web3 projects at both the code and market levels and pointed out the challenges in the Web3 ecosystem at the system, developer, and user levels, as well as the opportunities it presents. Our findings contribute to a better understanding of Web3 for researchers and developers, which in turn promotes further exploration and advancement in this innovative field. |
| first_indexed | 2024-03-07T16:54:03Z |
| format | Article |
| id | doaj.art-9c856c16f0e644a19f4c653c6c62642a |
| institution | Directory Open Access Journal |
| issn | 2666-9536 |
| language | English |
| last_indexed | 2024-04-24T11:21:39Z |
| publishDate | 2024-03-01 |
| publisher | Elsevier |
| record_format | Article |
| series | Blockchain: Research and Applications |
| spelling | doaj.art-9c856c16f0e644a19f4c653c6c62642a2024-04-11T04:41:10ZengElsevierBlockchain: Research and Applications2666-95362024-03-0151100173An overview of Web3 technology: Infrastructure, applications, and popularityRenke Huang0Jiachi Chen1Yanlin Wang2Tingting Bi3Liming Nie4Zibin Zheng5School of Software Engineering, Sun Yat-Sen University, Guangzhou 510275, ChinaSchool of Software Engineering, Sun Yat-Sen University, Guangzhou 510275, China; Corresponding author.School of Software Engineering, Sun Yat-Sen University, Guangzhou 510275, ChinaData61, ACT 2601, AustraliaZhejiang Sci-Tech University, Hangzhou, 310018, China; Nanyang Technological University, 639798, SingaporeSchool of Software Engineering, Sun Yat-Sen University, Guangzhou 510275, ChinaWeb3, the next generation of the Internet, represents a decentralized and democratized web. Although it has garnered significant public interest and found numerous real-world applications, there is a limited understanding of people's perceptions and experiences with Web3. In this study, we conducted an empirical study to investigate the categories of Web3 applications and their popularity, as well as the potential challenges and opportunities within this emerging landscape. Our research was carried out in two phases. In the first phase, we analyzed 200 popular Web3 projects associated with 10 leading Web3 venture capital firms. In the second phase, we collected and examined code-related data from GitHub and market-related data from blockchain browsers (e.g., Etherscan) for these projects. Our analysis revealed that the Web3 ecosystem can be categorized into two groups, i.e., Web3 infrastructure and Web3 applications, with each consisting of several subcategories or subdomains. We also gained insights into the popularity of these Web3 projects at both the code and market levels and pointed out the challenges in the Web3 ecosystem at the system, developer, and user levels, as well as the opportunities it presents. Our findings contribute to a better understanding of Web3 for researchers and developers, which in turn promotes further exploration and advancement in this innovative field.http://www.sciencedirect.com/science/article/pii/S2096720923000489Web3BlockchainEmpirical studySurvey |
| spellingShingle | Renke Huang Jiachi Chen Yanlin Wang Tingting Bi Liming Nie Zibin Zheng An overview of Web3 technology: Infrastructure, applications, and popularity Blockchain: Research and Applications Web3 Blockchain Empirical study Survey |
| title | An overview of Web3 technology: Infrastructure, applications, and popularity |
| title_full | An overview of Web3 technology: Infrastructure, applications, and popularity |
| title_fullStr | An overview of Web3 technology: Infrastructure, applications, and popularity |
| title_full_unstemmed | An overview of Web3 technology: Infrastructure, applications, and popularity |
| title_short | An overview of Web3 technology: Infrastructure, applications, and popularity |
| title_sort | overview of web3 technology infrastructure applications and popularity |
| topic | Web3 Blockchain Empirical study Survey |
| url | http://www.sciencedirect.com/science/article/pii/S2096720923000489 |
| work_keys_str_mv | AT renkehuang anoverviewofweb3technologyinfrastructureapplicationsandpopularity AT jiachichen anoverviewofweb3technologyinfrastructureapplicationsandpopularity AT yanlinwang anoverviewofweb3technologyinfrastructureapplicationsandpopularity AT tingtingbi anoverviewofweb3technologyinfrastructureapplicationsandpopularity AT limingnie anoverviewofweb3technologyinfrastructureapplicationsandpopularity AT zibinzheng anoverviewofweb3technologyinfrastructureapplicationsandpopularity AT renkehuang overviewofweb3technologyinfrastructureapplicationsandpopularity AT jiachichen overviewofweb3technologyinfrastructureapplicationsandpopularity AT yanlinwang overviewofweb3technologyinfrastructureapplicationsandpopularity AT tingtingbi overviewofweb3technologyinfrastructureapplicationsandpopularity AT limingnie overviewofweb3technologyinfrastructureapplicationsandpopularity AT zibinzheng overviewofweb3technologyinfrastructureapplicationsandpopularity |