A digital space for your crypto belongings is Web3

A digital space for your crypto belongings is Web3 ...

Is it possible to remember cyberspace?

This term is difficult to think about these days, but in the early days of the web, it was a whole new space. Things had meaningful addresses, not unlike physical addresses. There were even references, aka links, that could connect places together. In a URL, the L stands for location. Everything was a place.

Through referential space, everything is connected to each other. Everything has a uniqueness and location, with spatial orientation to everything else. Your cup is on your desk. Your pen is next to your cup. Your phone is in your pocket.

Time vs. space with the blockchain

Crypto hasn''t taken up digital space before. Blockchains only validate when something happens, not where it occurs. In some sense, crypto has only existed in time. A blockchain is literally a timeline, a sequence of verified events.

Certain crypto addresses have been issued, as well as addresses that relate to the public-private key pairs you hold in your wallet. These are related to individuals, but they do not necessarily refer to one another.

The existence of time and order for digital activities is a fairly recent phenomenon and makes blockchain so unique. It is an immutable, verifiable moment of activity like a transaction. Blockchains, initially designed to make sure nobody could spend something they didnt have, serve as a timeline where everything appears to be similar to Lokis Sacred Timeline in the Marvel Universe.

If blockchain is the time, how do we establish a crypto space? What might be done with blockchain spaces?

Digital space: a home for crypto and NFTs

Companies like Decentraland have tried to integrate the digital space into blockchain, but it is a much different concept than a general crypto cyberspace. Decentraland is more focused on digital commerce and providing NFT-based real estate, not the overarching need for a true physical crypto space. The same is true for Sandbox, who is more concerned about monetizing assets rather than building a true home on the internet for any kind of asset to live and relate to others.

When you look at space in Web2, everything has a URL. This URL is a potential link to every other URL, such as.eth domains. In Web3, we are just beginning to see domains, like.eth domains, and using, say, alice.eth instead of the standard 0x-style address to receive funding. These domains will be like the beginnings of space before the blockchains begin.

Organizing your crypto space

The complete URLs will be added next to the part after the.com/ in Web2, or after the.eth/ in Web3. What this means is that you may begin organizing crypto; you may begin organizing NFTs and other tokens in this crypto space the same way you might organize things in a file store or a database.

In the Web3 URL, you might store tokens and data at one location. Physical structures might be modeled in such a way that every area may hold NFTs, just like a room in the physical world can hold objects. In the 3D space we all live in, with verifiable time and history, these are things we are working on.

Being able to organize crypto-enabled data in such ways also means that virtual realms may be much more decentralized.

Leonard Kish has been the cofounder of Cortex App.

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