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Web3 Finally Here? Point Labs Launches $POINT Token On XT

31 Oct, 20222 min readOther
Web3 Finally Here? Point Labs Launches $POINT Token On XT

The Metaverse, decentralization, greater security, and free Internet – the promise of Web3 to put a final nail in the coffin of censorship and mass surveillance is far and wide. But the reality begs to differ. From privacy breaches to social media bubbles to multi-billion dollar companies capitalizing on users’ data, everything calls for the next step in the web evolution.

Many projects claim to solve one problem at a time, yet the future of Web3 remains distant. While the majority of dApps build on blockchain, they still use easily compromised Web2 architecture, browsers, domains, social media, and protocols that lead back to the same old algorithms and mechanics Web3 promises to eliminate. In simpler terms, they’re somewhere in between the Web2 and Web3 – call it Web2.5 if you will.

Is Web3 coming after all?

Short answer, yes, but it’s not here yet. Point Network might be the first step towards a fully decentralized architecture and the start of Web3 in the complete sense of the word. It combines two key aspects: decentralized storage, which can replace the cloud completely and eliminate any possibility of censorship, and a decentralized browser, designed for surfing Web3 exclusively.

Point Labs, the creators of the project, don’t stop there. The end goal is a fully independent and secure ecosystem, where users have access to a decentralized wallet, end-to-end encrypted email, uncensorable social networking, messaging, and more.

How is it different from other projects that claim to be “the next big thing” for Web3? Point Network delivers on the promise of complete and radical decentralization. For example, they block all web2 connections in their Point Browser; even if a user tries to access a Web2 website, such as google.com, the Point Browser would redirect them to the old browser. The same goes for any other connection to the old web, like trying to spy on users with Google Analytics—requests to the centralized internet are getting blocked.

What’s next?

Just a few days ago, Point Network pushed mass Web3 adoption closer by listing their utility-based token, $POINT, on XT. This gave Web3 enthusiasts an opportunity to become a part of the ecosystem, pay for validator fees, and stake it as collateral. With many things to come and tools to add to the Point Network’s collection, users already have the ability to unlock the first-ever decentralized web – one step at a time.

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