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The Web3 Growth’s Trajectory With Key Statistics

The internet, as we know it, is undergoing a major transformation. The decentralized web, or Web3, is reshaping how we use the internet, not only as part of our daily lives but also in our careers.

With new possibilities to innovate and collaborate, it’s unsurprising that the use of Web3 is surging. This is evident in recent statistics, which we’ll explore more in this article.

Read on to learn the growth trajectory of the decentralized web and what we can expect moving forward. 

Exploring the Decentralized Web’s Growth Trajectory Through Key Statistics

Over 1 Billion Websites Use DNS Systems

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One of the main aspects of the decentralized web is the decentralized domain name system (DNS), which operates entirely differently from a traditional DNS. Instead of mapping to IP addresses in a system of domain name servers (central authority), decentralized DNSs rely on the blockchain and peer-to-peer networks.

Currently, over 1 billion websites exist because of decentralized domain name systems. With benefits like better censorship resistance and the democratization of web access, it isn’t hard to see why.

WordPress hosts the vast majority of these websites. As an open-source content management system, it allows people and businesses to create an online presence effortlessly. In 2024, you don’t need coding skills to start your own website – now, anyone can do it. 

The Global Blockchain Market is Expected to Grow to 23.3 Billion USD By 2028

The financial prospects of the decentralized web are more than compelling. The Global Web 3.0 Blockchain Market’s revenue is expected to soar to USD 23.3 Billion by 2028. This staggering figure shows us the immense economic potential of the decentralized web, which encompasses blockchain, smart contracts, decentralized finance (DeFi) and more. 

15% Of Gen Z Spend Money In the Metaverse

The cultural shift towards the metaverse—a virtual universe where users interact, socialize, and buy—is gaining increasing momentum with a younger audience.

According to a report from Razorfish, 15% of Generation Z’s “fun budget” is allocated to having fun within the metaverse. Experts predict this could reach up to 20% in the next five years as the metaverse becomes a more mainstream phenomenon. 

Giant Corporations Are Integrating Web3 Into Their Business Models

The decentralized web isn’t just being used by individuals – giant corporations have also taken notice and are embracing Web3 to improve not only how they operate but also the experience of their customers.

Companies like Starbucks, Salesforce, Nike, and JP Morgan have integrated Web3 solutions into their business models, leveraging blockchain for a more transparent supply and better customer engagement. Some are even using the decentralized web to improve their financial forecasting. 

81% of Individuals Think Web3 Will Improve Their Wellbeing

Beyond helping large businesses improve their operations, Web3 may also improve the well-being and happiness of its casual users.

An overwhelming majority—81%—of respondents anticipate that Web3 will have a positive impact on their well-being. This may be because of the aspirational ethos of the decentralized web, which prioritized autonomy and inclusivity in shaping the internet’s future. 

21,300 Developers Contributed to the Decentralized Web Every Month in 2023

A thriving community of developers and contributors sustains the vibrant ecosystem of Web3.

In 2023 alone, an impressive 21,300 monthly active developers worked on open-source, decentralized web projects, working together to innovate and collaborate across different domains. With so many developers engaging in the decentralized nature of Web3 in 2023 alone, we can expect more and more projects to reach their end in 2024. 

52% of Fortune 100 Companies Use Decentralized Technology

Corporations are recognizing the unleashed potential of Web3, so much so that 52% of Fortune 100 companies have embraced decentralized technologies since 2020.

The most successful companies in the world actively understand the strategic importance of adapting to Web3 and the evolving digital world. In 2024, we’ll likely see even more companies harnessing the potential of Web3 to drive future growth and stay competitive in a changing market. 

There are 23,305 Companies Working in the Web3 Industry

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According to Crunchbase, there are currently 23,305 companies in the Web3 industry with a total financing of $83 billion. Clearly, Web3 is ripe with opportunities, and more and more businesses are innovating in the decentralized web space. Throughout 2024, we can expect to see more projects shaping the future of Web3, the internet, and the technological landscape.

Only 38% of Consumers Expressed Trust in Web3

Unfortunately, only 38% of Americans trust Web3, with the majority of their concerns being focused on the safety of decentralized technology. With the traditional web, control is placed in the hands of one authority, which is seen as safer in the eyes of some consumers.

This is likely to change in the future as Web3 developers look to develop technology that builds trust with users. One such invention is a dVPN.

A dVPN is a decentralized VPN that runs on a peer-to-peer network of independent computers that act as gateways into the “unrestricted internet”. To put it simply, when you use a dVPN, you’re no longer connecting to the internet directly, but you’re connecting from one of the independent computers within the peer-to-peer network.

With a dVPN, you can browse the decentralized internet without fear of falling victim to phishing or cyberattacks. 

Final Thoughts on Web3

The decentralized web is growing rapidly, changing the way we use the internet. Web3 doesn’t rely on a central authority anymore – instead, over 1 billion websites are active on decentralized domain name systems.

Web3 is set to change not only how we interact with technology but also our social and cultural existence as we gain increasing control over the future of the Internet.

As we move throughout 2024, we can expect to see increasing adoption of the decentralized web, with more and more companies using this technology to improve their operations and customer satisfaction levels.

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