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TL;DR
1. The realization of the Web3 vision is still relatively far away, but some Web3 tools are laying the foundation, such as on-chain communication, Web3 mailboxes, treasury management, document signing, and data indexing.
2. We use these keywords to describe Web3: no access, authenticity, data flow, efficiency, dark forest.
3. Web3 cannot be clearly distinguished from Web2. The adoption of Web3 will be a process of gradual penetration and improvement on the basis of Web2.
Everyone is talking about Web3, but in fact, the realization of the Web3 vision is still far away.
Take the example of handing data ownership back to the user. Data ownership is carried by NFT, but now only about 10% of NFT is on the chain. About 40% of NFTs are stored on private servers. Once the server stops maintaining, the data corresponding to NFTs will disappear, let alone allow users to master the data and benefit based on ownership.
Although pessimistic about the rapid implementation of Web3, Beep News believes that just as Web2 experienced emails, subscriptions, and search engines before the vigorous development, the current Web3 development is also at a similar early stage: some Web3 tools are emerging and laying the foundation .
Related tracks include on-chain communication, Web3 mailbox, treasury management, document signing, data indexing, etc. They are not odes to distant visions, but real use cases.
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Communication on the chain
Maybe you are used to the communication between APP accounts, but what about the communication between wallet addresses, does this bring you a sense of novelty?
Because the creation of wallet addresses is non-accessible, anyone can create a wallet, and anyone can create an infinite number of wallets. The communication between wallet addresses means that the communication between people has opened up endless space.
If you want to talk to Vitalik, on the WeChat platform, you must be his friend to do this, but through the on-chain communication application, you can send messages directly to Vitaliks wallet address.
In addition, most wallet addresses do not correspond to physical persons in the real world, which means that your views are not bound by some positions, which is what we often call blockchain privacy protection.
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1) Function
The on-chain communication applications counted by Beep News include XMTP, Push Protocol, Dialect, Notifi, Dispatch, Pearl, and Protico.
On the whole, the functions implemented by the communication applications on the chain are relatively overlapping.Basically achieve three dimensions of communication: two-way communication between wallet addresses, DAPP sending notifications to wallet addresses, and creators sending notifications to the community.
Taking Push Protocol as an example, there is an Inbox (inbox) section in the interface, and all messages received by your wallet address are displayed here.
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2) Issues and Improvements
Similar to the push function in the Web2 world, there are also some problems in the communication application on the chain. The first is the flood of spam information caused by no access. Second is the true adoption of the app. Recall, which Web2 applications you have turned on the push function for, and whether many applications have been shelved after downloading, and have not even been opened a few times.
Communication applications on the Web3 chain may also be included in this category. Beep News believes that functional plug-ins for Web3 applications may be a better positioning for such applications. For example, Uniswap provides users with an option to accept Push Protocol messages when using DEX, rather than users directly using Push Protocol.
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3) Representative project
Push Protocol
If you know anything about on-chain communication applications, chances are you know about this project. Push Protocol was previously called EPNS, and it was deployed on Ethereum and Polygon networks.
Push Protocol is the only project that has issued tokens among the on-chain communication applications counted by Beep News, and is governed based on PUSH. In terms of financing, the project has completed financing of US$11.5 million so far, and investors include Jump Crypto, Sino Global, ParaFi Capital, etc.
XMTP
XMTP is the project with the highest financing amount among on-chain communication applications according to the statistics of Beep News. Including a16z, Coinbase Ventures, StarkWare, Alchemy, etc.
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1) Function
The biggest difference between Web3 mailboxes and our common mailboxes is that they support wallet address login.
You no longer need to maintain a set of account and password systems that are very similar to each other just to log in to various applications like in the Web2 world. In the world of Web3, whether you use DEX, NFT market, or Web3 mailbox, you can use the same wallet address, that is, a common DID.
The Web3 mailbox projects counted by Beep News include Skiff, Mailchain, EtherMail, Mail3.me, Hashmail, Dmail, and MetaMail.
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MetaMail mailbox interface, providing encryption function
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2) Issues and Improvements
You might think email is a bit outdated. However, Web3 mailboxes are still useful for large-size files, files with privacy requirements, transmission of important business/work files, traces of formal business communication, and login verification of some application accounts. Because the wallet address cannot be controlled by others (including the platform), the security of Web3 mailboxes will be higher than that of traditional mailboxes.
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Web3 treasury management
Web3 treasury management tools generally create and log in accounts through wallet addresses.Compared with traditional asset management platforms, the biggest advantage of Web3 treasury management tools is that the data is open and transparent.image description
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also,Most Web3 treasury management tools support multi-signature management.The so-called multi-signature management means that the treasury is managed by multiple wallet addresses. When treasury funds are to be spent, signatures from multiple addresses in the management address (such as 2 out of 3 addresses) must be obtained before the transaction can be executed.
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1) Function
Beep News has counted 11 Web3 asset management platforms, including Safe, Zebec, Coinshift, Multis, Tres, Headquarters., Reveel, Utopia Labs, Snowflake, Parcel, and Momentum Safe.
In addition to providingMulti-signature management function of fundsIn addition, the main supportpayment function。
Taking Utopia Labs as an example, you can create a Payment Plan (recurring payment plan, equivalent to a payment template) on it, and then perform one-click payment or batch operations on Payment Plans in Generated Payments (generated payment plan). Doing so can save time, effort and gas.
In addition, Web3 treasury management tools often haveDashboard functionalityimage description
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2) Features
The Web3 treasury management tool has two obvious features.One is that the head effect of Safe (formerly Gnosis Safe) is obvious.Beep News statistics found that many of these projects are derived from Safe, have similar functions, and support the direct import of Safe.
The second is that such platforms not only serve Web3 platforms like DAO, but also try to attract traditional institutions as customers.secondary title
3) Representative project
Safe
Gnosis, the project behind Safe, was created in 2015 and was split from ConsenSys. It is a very early project in the Ethereum ecosystem. In addition to the multi-signature asset management platform Safe, Gnosis’ products also include a DEX protocol that uses a batch auction mechanism. At present, Safe has developed into the most representative multi-signature asset management project.
On Safe, you can maintain an address book for fund payment, view the treasurys positions, transaction history, and initiate payment transactions, which are executed based on multi-signatures. At present, these functions have been developed into the standard configuration of treasury management projects.
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Safe Ecological DAPP
Parcel
Parcel is positioned as a creator economy and a payment tool for DAOs. What makes this platform special is the integration of Coordinape, a platform for creating circles of contributors and rewarding contributors. The practice of integrating community collaboration platforms like Parcel may become a trend of Web3 asset management platforms.
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Web3 file signature
Different from traditional electronic signature tools, Web3 file signing tools use the wallet address to sign, because the private key is only controlled by the wallet owner, so the problem of signature forgery can be eliminated.
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1) Function
The functionality of these apps is primarily for usersProvide on-chain data analysis, or provide users with an easy-to-usesearch engine tool。
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Address aggregation function on 0xScope Watcher
The main purpose of the Web3 search engine project is to reduce the difficulty of searching on the chain. When searching with a blockchain browser, we usually search through an address composed of a string of numbers and letters with no semantics. The search results are often incomprehensible interaction history, and it takes a lot of money to understand what operations the address has performed time energy.
In this context, more and more Web3 search engines have appeared, including Ethereum Tags Database, RSS3, Mazury, neeva.xyz, etc. They are designed to simplify searching and provide more readable semantic tools.
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2) Representative project
RSS3
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RSS3 search results
In terms of financing, investors of RSS3 include Coinbase Ventures, Dragonfly Capital, Hashkey Group, etc., but the specific financing amount was not disclosed.
neeva.xyz
Founded by the former senior vice president of advertising and commerce at Google, this project recently completed a financing of 40 million US dollars, with investments from Paradigm, Coinbase, Sequoia Capital, etc.
neeva.xyz is positioned in a more subdivided NFT search engine track. On this platform, if you search for a wallet address, you can view all the NFT holdings of the address. When you search for NFT, you can view the attributes, price, trading market, and who holds the NFT for a specific NFT.
Mazury
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Looking at the characteristics of Web3 from the perspective of application
These on-chain communications, Web3 mailboxes, treasury management, document signing, and data indexing applications are already available products, rather than touting the Web3 concept while still adopting the Web2 approach.
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1) No access, no firewall for anyone
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2) Authenticity, data cannot be hidden or falsified
In the Web3 world, the signatures of on-chain transactions cannot be forged, which can solve a very big pain point in the Web2 world.
With the help of Web3 treasury management tools and document signing tools, institutional funds cannot be easily misappropriated, and contract signatures cannot be forged.
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3) Data flow, efficient and dark forest
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Forta Explorer, provides warnings for unusual data
The data-triggered business model has also opened a gap. ETHSign wrote on the official website to create legally binding PDF contracts that are closely related to code-based smart contracts to achieve trustless execution. It can be seen that, based on the sequential events of smart contracts, once the data on the chain reaches A certain condition, the next event will be automatically triggered, so as to achieve a more efficient workflow.
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Prospects for Web3 Development
The 30+ Web3 tools in this statistics also have such a commonality, that is, they all make improvements on the basis of Web2 applications, adding Web3 functions and attributes to Web2 application scenarios. It can be seen that Web3 cannot be clearly distinguished from Web2, and the adoption of Web3 will be a gradual process of penetration.
After using these tools, you will really feel that Web3 is so close to you. Web3 is not just a trendy concept, it will truly bring no access, authenticity, efficient data flow, and even future data owned by users, and the realization of on-chain entertainment and business models. Prior to this, Web3 tools such as on-chain communication, Web3 mailbox, treasury management, document signing, and data indexing made the first landing attempts.
