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Web 3.0 criticism is making a bigger echo every day. After the Metaverse and Web3.0 breakthroughs of large companies, some consider it a future, others consider it overrated. Famous names make some comments with both the tweets they post and the articles they post.
Moxie Marlinspike’s Criticism
There has been criticism of Web 3.0 from the founder of the messaging application Signal. Signal was also included in the criticism of names such as Elon Musk on the agenda. About Web 3.0, Moxie, founder of Signal;
He stated that the people in charge of the business are not interested in end-user payment security and distributed models, they are only interested in money. The answer to Marlinspike’s criticism came from Ethereum founder Vitalik Buterin.
In the continuation of the article, Marlinspike also touched upon the fact that the companies that reveal NFTs do not attach importance to the issue of security. Marlinspike had recently created its own NFT platform to better understand Web 3.0 and NFTs. As for the fact that on Saturday users made 38k dollars on the platform; this work is completely rubbish. There is a place on the Web 2.0 where there are lists of people who make purchases with a credit card and buyers. However, no one would care if NFTs were not bought and sold with crypto currencies, he said.
Moxie Marlinspike said in a blog post that Web 3.0 should be different with the decentralization feature in the versions that came before it. However, he also noted that such a situation is out of the question. He argues that in order for Marlinspike Web3.0 to mature, it must become an uncontrolled and unmanaged internet mechanism. In addition, according to Moxie, the system must have a functioning that will work without the need for trust.
Elon Musk’s Web 3.0 Criticism
In his latest tweet, Elon Musk addressed the Web3 technology praised by former Y-Combinator president Sam Altman. OpenAI CEO expects a much worse drop in average return on investments made in the 2020s than in the 2010s. However, at the same time, Altman noted that Web 3.0 coin technology could potentially provide investors with the returns that markets faced in 2010. Elon Musk’s response to Altman was also not delayed.
Elon Musk was quick to criticize Altman’s position by citing Web3 technology, implying that it would not be as revolutionary as investors and the general public had expected. To Altman’s tweet, Elon Musk responded:
I thought nothing could be nuttier than ‘99
