ERC-4804, a new standard for Web3 URLs introduced by Ethereum, allows internet users to access decentralized applications (DApps) and nonfungible tokens (NFTs) without fear of centralized censorship. Web3 URLs work similarly to HTTP URLs, and the new standard allows users to access on-chain Web3 content directly. It was proposed on February 14, 2022, by ETHStorage founder Qi Zhou, Ethereum researcher Sam Wilson, and Chao Pi. On March 1, ERC-4804 was approved and finalized on the mainnet.

While the new Web3 URLs standard theoretically allows access to entire websites stored on the Ethereum blockchain, the prohibitively expensive costs of on-chain storage present a challenge. On-chain data storage is expensive, according to ETHStorage founder Qi Zhou, costing around $10 million for 1 GB of data. Many web2 applications and NFTs are rendered impractical as a result, but layer-2 storage solutions may help mitigate some of the costs.

The new Web3 URL standard, on the other hand, is useful for specific applications that require protection from centralized censorship. Censorship threatens decentralized apps like Tornado Cash and others, and Web3 URLs give users direct access to them. The new standard is the first of its kind for Ethereum, and it offers a decentralized web hosting alternative.

Source: Cointelegraph (link)
Images: MidJourney, Prompts by Lewis Farrell

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