> Jack is exactly right in that "web3" is just a way to build third party owned services on top of a distributed infrastructure, just like companies right now sit on top of the internet. People who don't want to be censored or any third parties can already do this on the internet by running their own site.

I always thought that "web3" meant everything was on the blockchain. In other words, you could theoretically re-invent Twitter as an Ethereum Smart Contract.

In doing so, every "Tweet" would be on the Eth block chain. You'd probably want a web page that interacts with the block chain to read/post tweets, but even a static HTML file on your local hard drive that interacts with Metamask could achieve that. You wouldn't need to run a site.

Of course, therein lies a new problem: Scale. A quick Google says that there are 6,000 tweets sent per second. Meanwhile, the Eth block chain handles what, 10-20 transactions per second, and ends up with fees that are several dollars worth of Eth? Nobody other than political figures and spammers are going to want to pay $5 to send a Tweet.