The recent rise in Filecoin prices has brought the attention of many investment enthusiasts back to the Filecoin project itself. What is the reason for the rise, especially with the general depression of the crypto market environment as the background?

Smart contracts, as we know, have two considerable limitations: They are designed to be completely transparent and do not allow for privacy. Scaling to millions (or even more) of users is hard to achieve. These limitations exist because trust requires verification. Transactions on the blockchain need to be transparent so that everyone can verify that they are correct. Moreover, they tend not to scale, which is because all computers on the network need time and effort to perform that validation.

Web 3 could very well be the biggest technological shift that will ever occur in our lifetime. Before getting into web3, it’s good to learn about the earlier web versions, with first generation of the web 1.0, which is mostly static or read-only websites with simple text and images.