WORLD ECONOMY IN WEB 3.0

[JohnWilliamJohnson at secmail.pro]

I propose to discuss the following article.

Published on
https://john-w-johnson.medium.com/world-economy-in-web-3-0-format-3e5080abcc49


                           WORLD ECONOMY IN WEB 3.0

     At the moment, the entire crypto community is busy forming web 3.0.
Our future depends on the development of machine learning, AI and
peer-to-peer networks. Cryptocurrencies, as a means of investing and
storing money, have proven their reliability and necessity over the
20 years of their existence.

     The economic component is one of the most important engines of human
development. Tokenization of all business areas will enable the
development and security of its conduct.

Many people used to believe that all new and successful blockchain
projects are primarily innovations in technology, but this is far from the
case.


One of the most striking examples of innovation in the business sphere can
be considered Defi Yearn. Finance. This project proved the possibility and
necessity of reorganizing the business sphere and the social relationship
of people. At the moment, there is a framework in the distributed registry
technology that needs to be removed for further promotion of the
technology, and the emergence of new business projects.
   The new economic model I propose is aimed at the development of
decentralized autonomous organizations and business in general.

Today, there are many blockchains. They differ in algorithm, speed,
scalability, and purpose. But unfortunately, not one blockchain does not
provide for the possibility of mining alternative tokens created on them
(for example, ERC-20 Ethereum). The hindrance to the implementation of
mining is the commission paid in the native tokens of the networks.

    To implement mining, I propose to introduce a new standard of created
tokens. The essence is to remove any commission when transferring
tokens from the first (basic wallet). In this case, it becomes
possible and economically recoupable to mine alternative network
tokens, regardless of the rate of the native token.

Mining can be implemented using both smart contracts and sidechains. This
will give an additional incentive to the development of decentralized
technologies, their popularization and accelerate the process of mass
implementation in all spheres of human life.

      With the new features, the number of projects will increase, and
with them the load on the network will increase. In order for miners
and validators not to work in "idle" mode, it is necessary to think
through an economic model for each blockchain project. I see several
ways to solve this problem. First, it can be an increased fee for
creating a token, second, it can be an increased commission for
subsequent transfers, and third, it can be a free transfer from the
basic wallet, without changing the gas fee, based on a further,
standard network commission.

The latter option is designed to increase the number of projects created
on the blockchain, and in this regard, increase the total reward for
miners and validators when transferring new tokens. Essentially, this is
an improvement on a simple alternative token (such as ERC-20). The choice
of implementation of my proposal should be considered for each blockchain
individually, depending on its scalability and network commission.

To sum up.
Most alternative tokens that are not native are used only as a speculative
tool. They are designed to pump and quickly get easy profits at the time
of listing on crypto exchanges. To overcome this threshold, it is
necessary to introduce new opportunities for using the blockchain. In my
opinion, the mining of alternative network tokens can become a
breakthrough aspect in the development of the cryptocurrency industry.