A dApp is an application that’s entirely built on decentralized protocols. We're still discovering the best architecture and design patterns so the term is amorphous until the community converges on a standard definition. Web3 is a broad umbrella that encompasses diverse use cases like Marketplaces, DeFi, Governance, Entertainment, and more.
Developers are what make a platform. At the end of the day developers want to build good products and make money. They are often creative individuals that prefer personal freedom and open source. If Web3 becomes the best place for developers to build applications and reach users, developers will choose Web3.
The infrastructure isn't ready yet.
It's taken projects 2-3 years to build usable dApps and "usable" is a relative term. Most dApps have limited functionality and are still clunky to use. We shouldn't expect there to be users until the infrastructure is mature enough to support competitive applications.
Beyond UX, we believe that some prevalent myths have hindered the development of dApps.
Products need to solve real problems for people. Problems like: I need to find a job, I need to share an idea, or I need to express myself. dApps need to solve problems and do so better than Web2 apps for people to use them.
This is what we mean when we say product market fit. Given a problem, there's a group of people for which this product is the best solution to that problem that they can get their hands on.
When are dApps going to reach product market fit? Is it in 5 or 10 years? Absolutely not. We expect to see dApps with product market fit next year, in 2020.
We expect that every industry will eventually move to Web3 once great products come to market and network effects kick in. We think the best way to kickstart this process is to build mass appeal products but target them at our own community first. Once we reach a critical mass, we can branch out to mainstream users.
Everest is an experiment we've been quietly building in collaboration with MetaCartel. We asked ourselves "What’s something simple we can build on Web3 that would be useful enough for the crypto community to use on a regular basis?”
We landed on Everest – an open projects registry.
Everest seeks to be the best place to find and stay up-to-date on crypto projects.
Everest will allow users to add projects, define categories for better organization, and link to other resources. dApps will be able to reference these projects instead of maintaining their own internal databases. We’ll be launching Everest soon and hope you’ll join us in jumpstarting the network effects for Web3. As the platform grows, we plan to link to personal profiles, jobs, events, and blogs – all curated on Web3.
After the core primitives for the web solidified, innovation exploded. Millions of websites got built and changed how information's shared globally.
After the iPhone was released a wave of mobile apps came to market making use of the phone's new capabilities.
Web3 has its own unique capabilities. Developers will have better building blocks with open API’s and programmable money. Users will have more control and freedom of choice. Once we put these pieces together into a compelling package that developers can easily build on, a new race will start.
We are getting close to the starting line. Just like Ethereum allowed a wave of innovation that ignited the imagination, engineers working on decentralization are going to build one level up from there. The Web3 platform, made of many protocols and components, will reignite creative spirits and
Summer will return