An ecosystem approach to Web3.0: a systematic review and research agenda

Abstract

Purpose This paper reviews the extant research on Web3.0 published between 2003 and 2022.Design/methodology/approach This study uses a topic modeling procedure latent Dirichlet allocation to uncover the research themes and the key phrases associated with each theme.Findings This study uncovers seven research themes that have been featured in the existing research. In particular, the study highlights the interaction among the research themes that contribute to the understanding of a number of solutions, applications and use cases, such as metaverse and non-fungible tokens.Research limitations/implications Despite the relatively small data size of the study, the results remain significant as they contribute to a more profound comprehension of the relevant field and offer guidance for future research directions. The previous analysis revealed that the current Web3.0 technology is still encountering several challenges. Building upon the pioneering research in the field of blockchain, decentralized networks, smart contracts and algorithms, the study proposes an exploratory agenda for future research from an ecosystem approach, targeting to enhance the current state of affairs.Originality/value Although topics around Web3.0 have been discussed intensively among the crypto community and technological enthusiasts, there is limited research that provides a comprehensive description of all the related issues and an in-depth analysis of their real-world implications from an ecosystem perspective.