It has been just revealed the fact that Web 3.0 is not able to tackle network manipulation via token-based governance. Check out the latest reports below.
Web 3.0 cannot tackle network manipulation via token-based governance
Web 3.0 aims to establish community-driven ecosystems with decentralized, fair, and resilient governance.
Its objective is to challenge the conventional, top-down organizational structures that are prone to centralization – resulting in manipulation, insider control, strong-arming, and so on.
A significant change in our perspective on ownership, competence, and decision-making is necessary for this to happen.
At present, many Web 3.0 networks adopt token-based governance, where token holders have the right to vote and contribute to the project’s future direction.
Upon closer examination, it becomes clear that the token-based models’ one-token-one-vote approach undermines the fundamental principles of Web 3.0.
Governance tokens, such as Curve Finance (CRV) or Uniswap (UNI), are commonly exchangeable in public secondary markets.
By allowing random individuals to participate in voting, their actual contributions and reputation among the community peers are not taken into account.
Redefining digital entertainment
Web 3.0 – or blockchain gaming – is definitely making way for a new age in digital entertainment, expanding the scope of what games can offer.
As the online pubcalition the Daily Hodl notes, in the first quarter of 2023, blockchain gaming projects attained $739 million in investments. It is also with noting the fact that the overall industry is expected to surpass $30 billion by 2030.
This sector of gaming has matured remarkably, and this has happened over a relatively short span.
Challenges, opportunities and distinctive features of Web 3.0 games
It is important that we note the fact that the most glaring differences between Web 3.0 games and traditional video games are the following:
gameplay quality and overall user experience
The video games in today’s world are crafted by professional studios that have honed the art of creating immersive universes with compelling storylines and robust mechanics.
