Over the last several years Web3 or Web 3.0 has come to nominate two completely different but equally hazy visions of the future of the Internet. One, conceived and evangelized by Tim Berners Lee, the father of the internet, is an extension of the internet as a Semantic Web which basically envisions all the content being machine-readable. The other, which is the main concern of this blog and conceptualized by Ethereum co-founder Gavin Wood in 2014, is a vision to decentralize individual services, both in terms of ownership and power, using technologies like blockchain, smart contracts, various cryptocurrencies, and non-fungible tokens. Extentia, a Merkle Company, is a global technology and services firm that helps clients transform and realize their digital strategies. With a unique Experience Centric Transformation approach, our ground-breaking solutions are in the space of mobile, cloud, and design. Our team is differentiated by an emphasis on excellent design skills that they bring to every project. Focused on enterprise mobility, cloud computing, and user experiences, we strive to accomplish and surpass their customers’ business goals. Our inclusive work environment and culture inspire team members to be innovative and creative and to provide clients with an exceptional partnership experience. Expand your digital horizons with us. We will help you transform your business and surpass your goals. https://www.extentia.com/ Write to us at inquiries@extentia.com

1. Extentia, a Merkle Company | Confidential | www.extentia.com
FUTURE OF THE
INTERNET WEB 3.0 –
DECENTRALIZATION
OF THE INTERNET

2. Extentia, a Merkle Company | Confidential | www.extentia.com
• The basic idea behind decentralization is to build
financial assets into the inner workings of
everything that gets done on the Internet. These
assets or tokens created could then be exchanged or
traded without bank or government involvement
• Over the last several years, Web3 or Web 3.0 has
come to nominate two completely different visions
of the future of the Internet
• One, by Tim Berners Lee, is an extension of the
Internet as a Semantic Web which envisions all the
content being machine-readable and promotes a
standards-based approach to promote standard
data formats and exchange protocols across the web
• The other, by Gavin Wood in 2014, is a vision to
decentralize individual services, both in terms of
ownership and power, using technologies like
blockchain, smart contracts, various
cryptocurrencies, and non-fungible tokens
The Introduction

3. Extentia, a Merkle Company | Confidential | www.extentia.com
• A completely distributed version
of a Three-Layer Service is
typically comprised of
Presentation Layer, Application
Layer, and a Database. It can be
decentralized using,
• Using Peer-to-peer networking
service
• Using smart contracts
• Using blockchain
• Using SSI
Decentralize Everything

4. Extentia, a Merkle Company | Confidential | www.extentia.com
• Decentralization can be done using a peer-
to-peer networking service (based around
Hypermedia Protocols) like IPFS to furnish
the presentation layer and content
• The content deployed on these services is
split into smaller chunks, cryptographically
hashed, given a content identifier, and
cached on and furnished from many peers
on the network
• This provides the immediate benefits of
making these cheaper to host, resistant to
tampering, censorship, and backbone
failures, and almost infinitely persistent
Decentralization Using Peer-to-Peer Networking

5. Extentia, a Merkle Company | Confidential | www.extentia.com
• Decentralization using Smart
Contracts means to enforcing all
business logic within the
Application layer
• Smart Contracts are pieces of
code deployed and executed on
the Blockchain whenever a user
requests a transaction
Decentralization Using Smart Contracts

6. Extentia, a Merkle Company | Confidential | www.extentia.com
• In Blockchain, decentralization means the
Blockchain allows the data held in that
database to split out among several network
nodes at various locations
• This not only creates redundancy but also
maintains the reliability of the data stored
• Anyone trying to alter a record at one instance
of the database, the other nodes are not
changed and thus would prevent the mishap
• If one user tampers with Bitcoin’s record of
transactions, all other nodes would cross-
reference and pinpoint the node with the
incorrect information, helping to establish an
exact and transparent order of events. And a
no single node within the network can alter
information held within it
Decentralization Using Blockchain

7. Extentia, a Merkle Company | Confidential | www.extentia.com
• In an SSI system, holders
generate, and control
unique identifiers called decentral
ized identifiers
• The credentials are managed
using crypto wallets and verified
using public-key
cryptography anchored on
a distributed ledger. This gives
individuals control of their digital
identities
Decentralization Using SSI

8. Extentia, a Merkle Company | Confidential | www.extentia.com
• Web3.0, from this perspective, is a vast
and evolving ecosystem of ideas rather
than a single plan of action to upgrade the
Web from 2.0. and the current set of
applications built on these principles are
also highly varied
• Fintech, Social Networking, Gaming, etc. all
verticals are now represented within this
system
• Applications using the fundamental ideas
of Web 3.0 have proliferated over the last
couple of years, and many more continue
to be funded and built. Many of these
introduce new ideas into the mix, making
the ecosystem as exasperating as exciting.
A Little More In Detail

9. Extentia, a Merkle Company | Confidential | www.extentia.com
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