Pillars of Web3

When we hear "Web3", the first thing that comes to mind are some foundational concepts, that many agree should be inherent with any tech or platform that tries to flaunt the title.

Here's a graphic from the Future Proof Org Instagram Page that displays those foundational concepts to further hammer home the idea.

The graphic is meant to highlight the overlapping nature of these concepts, making it easy to spot out projects false-claiming to be Web3. Similar to decentralization, Web3 is more of a spectrum than it is an absolute yes or no. In some cases, decentralization is a slow-grind process, in others its an afterthought. Its also important to note that this doesn't make a platform "bad", it could just mean that its more "Web3 friendly" or "Web3 compatible" than it is actual Web3.

A few big red flags that violate these pillars by default are:

• Account Approval Process
• No access to private keys
• Shared access of keys with platform
• Company behind blockchain
• Venture Capital, Private Investors