Future of Tracking Data in Web3?
Web3 or Web3.0 is an idea for a new iteration of the World Wide Web that incorporates concepts such as decentralization, blockchain technologies, and token-based economics.
Data is the heart of web3 and blockchain technology. Web3 means to conform to specific values. The web3 ecosystem has seen an explosion of new applications in the past year. And with the advent of decentralized technologies, data has grown significantly for tracking, sending, and receiving transactions on blockchains. There are now many opportunities to use the data in combination with other tools. We are currently tracking data across different wallets and platforms, and exploring various technical approaches based on existing work, and discussing possible future directions.
There are many types of data that users generate when interacting with a web3 application. Cryptographic tools like wallets and timestamping can be used to control access to this data while maintaining transparency, auditability, and verifiability. Tracking data is an integral part of blockchain-based applications. We live in an age where data is heavily controlled by large corporations, but soon we will be able to take back control of our data. The highly visible nature of this information and its intrinsic value, combined with the issue of data ownership and privacy, are key challenges that should be considered in any tracking data strategy. The use of the blockchain adds a level of trust in these transactions without having to rely on a third party.
The future of tracking data in Web3 is bright. The data collected by web3 trackers have various purposes as blockchain explorer, wallet addresses and transactions, decentralized applications, and wallet management. Airdrop data has become a popular topic in the web3 community over the past year, but the question remains: is this data valuable for space? Data is increasingly used to control behavior and influence decisions on the Web. But, with increasing use of data comes increased risks for the user’s privacy, security, and wealth. And, where there is human presence, there is a crime. Therefore, we must maintain strict security around our data. The tracking of data in web3 is a new frontier that provides many opportunities for businesses to save time, and resources to make more informed decisions. We continue to see massive growth in the number of wallets and ways to store cryptocurrencies.
Although we are beginning the move towards decentralization, the Web3 concept is still a work in progress. Web3 is not just an issue of technology but one of politics. There are serious questions about privacy and the need for a future-ready infrastructure. If you would like more information, please visit https://theablabdigital.com/. Sandra Buttry
