Mar 16, 2023

Ethereum Launches Web3 URL Standard, Allowing Decentralized Web Access

The Ethereum blockchain has just enabled a new standard which allows users to access decentralized applications (DApps) and non-fungible tokens (NFTs) without having to worry about centralized censorship. Titled “Web3 URL to EVM Call Message Translation,” the new standard was co-authored by ETHStorage founder Qi Zhou, Ethereum researcher Sam Wilson, and Chao Pi, and was approved and finalized on the mainnet on March 1.

Anthurine Xiang, a spokesperson for layer-2 storage protocol ETHStorage, explained that the new standard allows users to access DApps and NFTs by typing in “web3://” into their browsers instead of “http://.” This is because the standard allows users to directly query the Ethereum Virtual Machine (EVM).

The new standard also allows for entire websites to be accessed as long as their content is stored on the Ethereum blockchain or a compatible layer-2 protocol. However, the costs of doing this are still very prohibitive, according to ETHStorage founder Qi Zhou. He noted that layer-2 storage solutions could help mitigate some of the costs.

Xiang suggested that the new standard makes sense only for specific applications, such as those at risk of censorship, with Tornado Cash as an example. She believes, like Bitcoin, the new standard is just giving people a decentralized option they may not have otherwise.

The new Ethereum standard is the first of its kind for the blockchain, noted Xiang, though it’s not the first solution to decentralized web hosting. The InterPlanetary File System (IPFS) is an example of a network created to do through decentralized means, what centralized cloud servers currently provide. However, Xiang noted that an IPFS URL can only link to static content, which can’t be amended or changed.

ERC-4804 is different, as it allows for “dynamic data,” such as allowing people to leave likes and comments and interact with content on a website. Being Ethereum native, it is also expected to be able to interact with other blockchains much easier.

The new standard is expected to have a profound impact in the NFT space, as it will make it easier for NFT creators to promote and sell their tokens. With the new web3 URLs, NFTs can be accessed directly, without having to go through a centralized server. This will open up new opportunities for NFT marketing, as well as the emergence of NFT marketing agencies and web3 agencies that specialize in promoting and selling NFTs.

It will also make it easier for NFT creators to market their tokens on Twitter, as they will be able to link directly to their tokens without having to worry about censorship. This could potentially lead to an increase in the number of NFTs being sold on the platform, as well as higher prices.

In short, the new Ethereum standard is expected to have a major impact on the web3 space, and could potentially revolutionize the way we access and interact with content. It is yet to be seen how the new standard will be adopted and used, but it is clear that it has the potential to drastically change the way we use the internet.

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