TEA Talks: Web3 vs Web 2.0 Differences for Developers
There’s an old saying that if something is free, then you’re the product. Web 2.0 apps have been able to offer free versions of their services by selling their users’ data. It’s a lucrative model for Web 2.0 apps that has many unfortunate privacy and data security implications. This might be an acceptable trade-off for some services, but the data privacy implications for exploitable data (e.g. financial and medical) means that Web 2.0 is ripe for disruption.
As we move to Web3, we’ll see new monetization models for dApps that represent a departure from Web 2.0. For example, if private user data is no longer being sold, then how is the underlying infrastructure costs let alone the profit being generated? Web3 will by default require users to pay to use dApps in the form of microtransactions. The TEA Project makes the changeover easier for users to interact with dApps by making all microtransactions within apps gas-less.
Kevin talks more about the differences between Web 2.0 and Web3 apps here:
Developers in the TEA Project ecosystem will have a new monetization model in the form of TApp tokens that are distributed along a bonding curve.
The TEA Project makes heavy use of bonding curves which can be found in both our mining staking and TApp token minting mechanisms.
TApp tokens can be thought of as shares in a company. Because they’re minted anytime someone uses a TApp and its price is determined by a bonding curve,
these tokens have a few unique features:
• The earlier a TApp token is bought, the more chance it’ll have for price appreciation. It helps to get in early as the price of the TApp token is determined by the supply.
• The supply of the TApp token completely determines the price. Conversely, as more people sell into the TApp token’s bonding curve, the price decreases.
• Whenever a TApp is used, tokens are generated and distributed proportionally to its token holders. This means that TApp token holders earn a dividend in the form of the token itself whenever the TApp is used, which is a great incentive to become a token holder for popular TApps.
Kevin explains more about how TApp developers can use these tokens to bootstrap their early app development in this latest TEA Talk video:
