**Summary:**
In this video, Task discusses the concept of Web3 and why it hasn't gained widespread adoption. He criticizes the current platforms that claim to be Web3 but are actually permissioned systems, similar to traditional social media platforms. Task emphasizes the importance of decentralization, account control, and permissionlessness in true Web3 applications. He argues that high transaction fees, especially in social media platforms, hinder the progress of Web3. Task believes that Hive is currently the most viable platform for Web3 due to its feeless structure and decentralized nature. He praises LeoFinance and Threads for being on the right path towards building successful Web3 applications, mentioning that their integration into various front ends can lead to a significant breakthrough in Web3 adoption.

**Detailed Analysis:**
Task starts by addressing the lack of true Web3 platforms, pointing out that many projects claiming to be Web3 are actually permissioned systems, defeating the purpose of utilizing blockchain technology. He expresses frustration at the trend of imposing restrictions in the name of security, likening it to government overreach seen in traditional institutions.

The fundamental principles of Web3, according to Task, include decentralized databases, account control, and permissionlessness. He highlights the necessity of these features for a platform to be considered truly Web3. Task criticizes the current infrastructure that fails to provide genuine decentralization and mentions the need for innovation in various sectors beyond social media.

One major impediment Task identifies for Web3 adoption is the prevalence of transaction fees, particularly in social media applications. He argues that these fees are unsustainable and unattractive for users, especially in platforms like Ethereum where fees can be high. Task praises Hive for being feeless, providing an alternative model where users invest and stake native tokens to actively engage in the ecosystem.

In terms of Web3 progress, Task mentions LeoFinance and Threads as promising projects moving in the right direction. He believes that the integration of these projects with different front ends can create a user-friendly experience that may attract more users to Web3. Task sees Hive as the potential platform to disrupt traditional social media giants, highlighting its features of decentralization, immutability, and ownership control.

Task concludes by expressing hope for the future of Web3, emphasizing the significance of integrating ideas from various projects and teams to drive innovation and growth in the space. He maintains a positive outlook on the potential growth and adoption of true Web3 platforms like Hive and encourages viewers to stay tuned for future updates.

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*Notice: This is an AI-generated summary based on a transcript of the video. The summarization of the videos in this channel was requested/approved by the channel owner.*

Great video, I believe the main reason web3 idea have not been fully successful is because there is no infrastructure for it and hive is the only thing out there that come close the idea of web3.

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@dwayne16/re-taskmaster4450-4fnezc)

but to mention the most important feature of #Hive to lead that race with the new Web 3.0

It's the same way in politics right now and I am also sick of it. I don't really see the point of it and I just don't see the Web3 that I envision.

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@jfang003/re-taskmaster4450-2hbzif)

I still want to believe that work is still on as per that and I sincerely think all that is needed needs to be in place before it launching, but am of the opinion that it is really going to be a massive on when it finally comes into reality too

I haven't seen this video, will listen to it on Fountain App now.

Right now, this is very laggy in Fountain. @brianoflondon Might be because of the short time that has passed since upload. I'll try to reaffirm that soonish.

<center>![pixresteemer_incognito_angel_mini.png](https://files.peakd.com/file/peakd-hive/pixresteemer/8h7BBw1w-pixresteemer_incognito_angel_mini.png)</center><center>Bang, I did it again... I just rehived your post!</center><center>Week 119 of my [contest](/hive-179017/@pixresteemer/the-re-hive-contest-results-week-118-and-start-week-119) just started...you can now check the winners of the previous week!</center><center>!PIZZA</center><center><sub>8</sub></center>

https://twitter.com/OfficialMaxRosh/status/1559320357416353794
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