Web 3.0 (which you can learn more here) is the promise of digital sovereignty of people and nations, as opposed to centralization by Big Tech. An approach that therefore proposes property and control over your personal data, through the use of blockchain and other emerging technologies.
So far everything seems advantageous, but even this approach and the related technologies have limitations. Limits that need to be analyzed and that deserve further investigation: observations with a critical eye with the aim of identify and stimulate proposals that can improve the problems observed today.
What still separates us from a mass decentralization? Is it really a profitable choice? What can be done and what is being done to smooth out the limits that prevent its sustainability? Let's find out everything with an analysis of the current critical issues of decentralized: The 6 Limitations of Web 3.0.
Content index
1) Web 3.0 is still not very accessible
One of the main critical issues of the decentralized web is the poor accessibility for the general public. Many of the platforms based on blockchain or other decentralized technologies require advanced technical skills to be used. In addition, the user interface of many decentralized applications It still doesn't measure up to centralized platforms, making the decentralized web unappealing for those looking for a simple and intuitive experience.
Furthermore, all of this is unknown to most of the population.
2) It currently has scalability and performance issues
The technologies that underpin the decentralized web suffer from scalability issues. A decentralized network must process huge amounts of data distributed across multiple nodes, which can slow down the system and limit the number of transactions that can be handled simultaneously. This inefficiency It does not yet allow us to compete with centralized platforms, which offer significantly higher average performance.
3) Web 3.0 may not be so secure
Decentralized Web Protects Privacy and Security, but while it reduces the risk associated with attacks on central servers, it introduces new vulnerabilities. lack of central authority makes it difficult to respond quickly and effectively to cyber attacks. Furthermore, Users are often responsible for protecting their own cryptographic keys, the loss or theft of which may result in the irreversible loss of data or funds.
4) Regulatory vacuum
The Regulatory Void Surrounding the Decentralized Web it's a relevant problem. Decentralization makes it difficult to enforce regulations and control abuse. For example: who is responsible for moderating illegal content on a completely decentralized platform?
The answer is not available today, which negatively affects the reliability of the decentralized finance.
And it is a problem that is also reflected in the internal management of the platforms. The risk is that without adequate consensus mechanisms, decisions may be monopolized by groups of users with greater power. And this brings us to the paradox of Web 3.0.
5) Concentration of power: the paradox of Web 3.0
Despite the goal of distributing control equally, in many cases we observe a new concentration of power. This is the paradox.
For example, in the governance of public blockchains, users with a larger number of tokens can exert disproportionate influence in decisions, compromising the very principles of decentralization.
Furthermore, the creation and maintenance of decentralized networks often depends on large organizations or consortia, which can effectively control the ecosystem.
6) Energy consumption
Last but not least, let's raise the question of energy consumption. From a point of view of sustainability, Web 3.0 acts on social and economic aspects, but on environmental and energy ones? Today, the problem of sustainable growth of structures that would allow for wide-ranging decentralization remains evident. For example, the Bitcoin network alone consumes as much energy as a nation like Belgium.
It is easy to understand from here that this unsustainability limits the growth and spread of decentralization.
If there is no conjunction between Governments and Big Tech for alternative energy sources, the production machine will continue to move where the profit goes, automatically… at least until a critical point is reached or until these alternatives are universally encouraged by the top of the economic ecosystem.
