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Web 3.0 Browser

Table of Contents

A Web3.0 browser is an internet browser that gives users access to decentralized applications and smart contracts. It ensures an integration of crypto with an emphasis on decentralization and user security. Web3 browsers have a blockchain integration where users can also host files peer-to-peer. To make this possible, each Web3 browser has its own integrated Web3 wallet.

Development of Web3.0 #

In recent years a fundamental shift has taken place. With the advent of blockchain technology, there is also the need to decentralize our entire digital existence. With Web3 users can also own digital items, but web3.0 developers need to be able to organize that as well as possible. Both in the gaming industry with numerous play-to-earn games, and in owning traditional NFTs. There are more and more examples of why owning digital assets can be very lucrative.

Web3.0 features #

With the development of Web3.0, all information is completely decentralized in a public network. And that new revenue stream in Web2.0? It is limitless here. Because you can own digital items, a whole new digital economy is created for and by every user. But what are the properties of Web3 and are they present in a Web3 browser?

Wallet #

In a decentralized world where you can own digital items, you naturally need a wallet. In the world of DeFi and the use of ‘regular’ browsers, MetaMask and Trust Wallet are commonly used software wallets.

dApps #

Web3.0 is characterized by decentralized applications (dApps) that you can use based on your software wallet. Connect your personal wallet and get access to this dApp. These can be trading platforms such as OpenSea or games such as DeFi Kingdoms, but also decentralized social media channels. These websites are not owned by one team, but part of a peer-to-peer network.

Blockchain #

All information and transactions that take place are based on blockchain technology. Completely decentralized and peer-to-peer. This is necessary to make the evolution from the dominant Web2 to the innovative and decentralized Web3.

Smart Contracts #

A smart contract is a programmed contract in which all agreements are included in the source code. By automating this, intermediaries are no longer needed and it contributes to the decentralized nature of both the blockchain technology and the development of Web3.0. Do you want to know more? Check out this extensive blog about smart contracts.

How does a Web3.0 browser work? #

The goal of Web3.0 is to sideline centralized parties and return power and control to users. This is thanks to the use of public blockchains and encrypted dApps. At first sight, a Web3.0 is no different from an internet browser such as Firefox or Google Chrome. You can compare it to searching incognito, where your data is not used, but without a Web3 wallet of course. With Web2.0 it is already possible to use dApps, but only by using software wallets such as MetaMask. Web3.0 browsers have a built-in wallet, the same principle but no separate Chrome extensions but surfing online while maintaining your own privacy. The user experience thus remains the same as that of Web2.0, but with the advantages of Web3.0.

Updated on July 12, 2022
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  • What do the risk ratings mean?

Our mission here at RugDoc is to screen for hard rug code that results in 100% theft of ALL underlying funds for ALL participants.

This is the ONE part of the due diligence process that most people cannot simply do on their own as it costs thousands of dollars to hire a senior solidity developer to look over a farm for safety.

A project coin with terrible code can go up in price, and a project with good code and a good team can also go down in price.

Do NOT use our ratings to refer to your likelihood in making money if you invest in the project. They are ONLY in reference to code safety.

Everything else beyond code safety is YOUR responsibility to go do research on. We just make sure the casino you’re betting in won’t rob you before you even get to place a bet.

Our reviews for projects are organized into a few colors.

🟢 Least Risk
These projects are the least likely to hard or soft rug. Usually reserved for cornerstone projects of an ecosystem where it makes no financial sense for them to rug in any manner as they make more money just being legit.

🔵 Low Risk
These projects are usually established projects in an ecosystem that have a track record of success or have KYC’d to us or other authoritative sources in the real world. As a result, it is extremely unlikely for them to soft rug or hard rug their projects. The projects can still fail and the token price can go down, but usually more as a result of natural market forces.

⚪️ Some Risk
This is the default rating for projects with unknown teams but have code that is unlikely to have hard rug risk. Since the team is unknown and doesn’t have a track record of success, it’s entirely possible that they may try to soft rug by dumping tokens, abandoning the project, etc. Even a last minute contract swap to a malicious contract is possible. The only thing that is unlikely is a complete hard rug as long as you are 100% sure you deposit into the contract we review.

🟠 Medium Risk
Similar to Some Risk, but the underlying code itself is custom enough or complex enough that it warrants an elevated risk rating that needs deeper research. Make sure you read every point presented to make sure you’re comfortable with that before entering. Still unlikely to hard rug, but more chances of custom code behaving incorrectly and causing other issues.

🔴 High Risk
Project contains code or practices that are HIGHLY LIKELY to lead to catastrophic losses as they are right now. Make sure you read the description carefully as we will always warn what these issues are. If you see the words Hard Rug anywhere in the review, STAY FAR AWAY!

⚫️ Not Eligible
We reserve the right to not review exceedingly complex projects that would require tens of thousands of dollars of senior security analyst man hours. Typically these are projects that deal with leverage, lending, options, derivatives, and anything that is overly complex and which requires tons of peer reviews and audits from top audit companies.

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