No doubt Web3, blockchains, crypto will be part, if not all, of the future of the internet, but what do developers, the people who actually build the tools, think about these technological innovations?
Stack Overflow surveyed 595 developers for their views on Web3 and blockchains, two areas that could form the core of the next phase of the Internet, and found some very different thoughts.
Opinion on Web3 was divided: 25% said Web3 is the future of the Internet, although 15% said it was hype, 14% thought it was important for crypto and related applications, and 9% said it was a fraud.
Do you believe the hype?
Interestingly, another 36%, the largest group of all, asked "What is Web3?", highlighting the confusing nature of the brand, which is often promoted by venture capitalists, such as Chris Dixon at a16z.
We hear a lot about Web3, especially from people building things in space, but the exact definitions and dimensions of the technology, aside from relying on some sort of blockchain, remain highly controversial.
block the way
Many techies agree that even though Web3 in its current form is full of scams and hoaxes - just look at how many multi-million dollar hacks and "rug takeovers" there have been - blockchains represent a really interesting development.
Advocates say decentralizing control of a database is something that could have many uses as the tech industry grows and expands.
But do the developers agree?
According to Stack Overflow, 85% of developers surveyed had never built anything with a blockchain (and of those who had, 62% did so as a hobby).
31% were developing blockchain for work, most likely for a software company, and more than half (55%) of those doing it for work did so as a side project.
New developers were the most likely to be interested in blockchains. Between 20% and 30% of new developers turn to Stack Overflow for resources to develop this kind of thing.