The impact of Web3 on the world and the role of CoinEx Exchange

Key facts:
  • CoinEx wants to break the chains of traditional finance with Web3.

  • Web3 not only offers benefits to users, but also to programmers.

In the Internet realm, the code supports various products and services on different platforms. Programmers play a key role in this. It’s fair to say that programmers are indispensable in today’s Internet world.

Today’s Web3 is hailed as the next generation of the Internet, and it differs considerably in substance from previous versions. Web1 and Web2 build the platform and infrastructure for users, who have surprisingly little control and limited options. Similarly, programmers have no control over it and can only create code as required by the service provider.

Web3 is designed to make a difference. Based on underlying technologies like blockchain, Web3 establishes a new realm of open collaboration and privacy protection driven by users and developers.

Web3 gives power back to users and programmers

Developers can choose to participate in a Web3 project, thus gaining real control. For programmers who have worked in the Web2 industry, Web3 can present barriers and challenges. However, it also offers a wealth of opportunities.

In the traditional world of the Internet, programmers often follow a centralized, offline working model, and many of them have to put up with long working hours. Web3 has offered them the opportunity to change the way they work.

Instead of spending a lot of time commuting, they can work in a more comfortable and flexible environment. Elvin, a programmer for the renowned cryptocurrency exchange CoinEx, once said that Web3 had given him more flexibility at work, also noting its openness, collaboration and privacy. For many programmers, Web3 represents both an opportunity and a significant turning point.

CoinEx, a cryptocurrency exchange, has been at the forefront in embracing and promoting Web3. In 2016, Haipo Yang, who used to be a programmer and is now the founder of CoinEx, resigned from a Web2 giant to venture into the world of cryptocurrencies. He completed all the code for ViaBTC Pool by himself and launched it in two days. For Haipo Yang, the code is a weapon that he uses to explore the world of cryptocurrencies, but it is also the law in his eyes.

CoinEx bets on the Web3

According to Haipo Yang, the market order is important, but the methods used to establish that order vary between the traditional financial market and the cryptocurrency market. The first is based on regulations to maintain order. Due to the lack of transparency in the information, it requires a large number of intermediaries to verify the information and ensure smooth transactions through legal regulations.

In contrast, the cryptocurrency market establishes order through code. The code serves as law, and numerous projects and applications are open source. Data on blockchains enjoys greater transparency compared to the traditional financial industry.

Therefore, the cryptocurrency market, built on consensus protocols and smart contracts, does not require regulation nor can it be regulated. The cryptocurrency industry has offered a decentralized, open and transparent financial market where everyone is free and equal.

Web3 can take power and control out of the hands of big tech companies and back to the users. All users have control over their own digital assets. CoinEx shares a similar vision to Web3, aiming to break the chains of traditional finance, serve as an easy gateway to the world of cryptocurrencies, and enable more people to take advantage of the opportunities and wealth offered by decentralized finance.

“The code changes the world.” It has become a reality rather than a dream for programmers including Haipo Yang. In the world of cryptocurrencies, the code is more than a series of symbols. It works like law, helping to make this world a more mature and beautiful place. This is especially true in the world of Web3.

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