Back when it all started, the original purpose of the internet and the web was to provide a universal and neutral network on which individuals could equally participate towards the goal of improving technology and bettering humanity. As noble as this may sound, the original dream of the web faded along the way, and so did the altruism of big companies. It all happened during the first dot-com bubble when businesses and people realized that the incredible value the web has –ultimately creating centralized services which gathered, trapped, and monetized information for their personal gain.
Luckily, there is an emerging movement to bring back this lost vision of the web. Called the Decentralised Web or Web 3.0, it refers to a trend of building hosting services which do not depend on one central organization that has the monopoly over others. In this article we’ll introduce you to this idea, letting you understand why this new web movement will change the Internet as we know it.
What is Decentralised Hosting?
Decentralised hosting envisions a future in which publishing, communicating, archiving, searching, and social networking are not services provided solely by centralized organizations. By contrast, it would refer to technologies that are powered by us, the people and our online communities.
In other words, the core idea behind decentralization of hosting services is that the operation of hosting-related services will not belong to a single omnipotent business which holds the monopoly. Instead of one single company being responsible, like for instance Bluehost, the responsibility will be shared –either by having multiple servers or running across client apps using a peer-to-peer model of distribution.
If you’re running an already successful blog, we understand that you might be skeptical about this model in which you have to trust and rely on others. However, decentralized hosting could manage to bring people together, forcing all those involved to act in a fair way towards each other –using cryptographic techniques such as Merkle trees and additional digital signatures that allow the individuals involved to hold each other accountable for their actions.
For those who are not aware of the term, blockchain technology is a sort of online ledger in which all transactions and communications are stored. This non-distributed database holds a record, otherwise known as a block, of all the interactions –with a subsequent time stamp and link to the cooperation.
In other words, this system is fair to all individuals involved, simply because once the data is recorded, it cannot be altered retroactively. To successfully change something, you would need to change all the blocks involved, and that would lead to a collapse of the network.
It’s easy to spot that the market blockchain ecosystems have seen a more rapid and steady increase which now appears imminent. In fact, the market capitalization of blockchain-based assets is around $600 billion, so there is a lot of money involved.
But this is just the beginning, as when decentralized blockchain systems will start replacing the centralized web services that have so far dominated the market, we will finally witness the sovereignty of the Internet. In other words, we believe that the future internet will be decentralized.
Initial Coin Offerings, otherwise known as ICOs, is a system through which a company can secure funding for any future projects –seamlessly using blockchain technology to its advantage. To put things into perspective, ICOs are the first genuinely decentralized form of crowdfunding available to people like you and me.
It works by asking individuals to use cryptocurrency to purchase tokens that are then used as an investment base for the company or service they want to support. Simply put, these tokens will act as your “digital share”, and their value will be directly correlated to the profitability of the business. It does sound attractive and easy-to-use, but always ensure that you discuss the business concept, the present, and future implementation plan, and agree to a transparency of collected funds.
The main advantage and why this could change the internet is the fact that a decentralized financial system will be entirely independent of the conventional banks we are used to –thus not being able to be manipulated by governments or other bodies interested in getting a cut from your profits. For example, Bitcoin (BTC) is the most popular cryptocurrency known by users, holding around 50% of the current crypto-market share –where the blockchain concept has served as the basis for the cryptocurrencies such as Bitcoin.
Of course, there are many more uses for block chains, including keeping files up to date, publishing, archiving, social networking, and other hosting needs that will interest both small and more significant businesses.
Shift might not be incredibly well-known, but the company has found an innovative and refreshing way of incorporating blockchain technology into one of most essential business needs, web hosting.
Shift has the goal of changing to the industry as we know it, seeking to become the first self-standing decentralized web hosting ecosystem -taking advantage of this ever-evolving domain registry industry.
How to get involved
You may already be buzzing with excitement at the thought of a decentralized system. If you’re willing to get involved and spread the word, you will first need to purchase SHIFT token –using a form of cryptocurrency (i.e., Bitcoin (BTC), Litecoin (LTC), or Ethereum (ETH).
If you’re unsure where to start, Coinbase is a great place to make your first crypto purchases, as this is the most significant cryptocurrency exchange in the United States. Setting up is seamlessly smooth, needing to connect a bank account before beginning your crypto-investment dreams. Once that is done and dusted, you are now ready to purchase SHIFT tokens by going to bittrex.com and filling out all the relevant and needed information –ultimately investing in the world’s first decentralized domain ecosystem.
The world of cryptocurrencies is both intriguing and ever-expanding, and now is the ideal time to get your footing in this financial system. We are convinced that blockchain technology is the harbinger of innovative things that will change the Internet as we know it.