The internet has grown and changed a lot since it began in the 1980s. Web 3 – the Internet’s next stage of evolution – is designed to not just enhance how we interact in an interconnected world, but also solve some of the problems prevalent in its previous version.
The internet has grown and changed a lot since it began in the 1980s. Web 3 – the Internet’s next stage of evolution – is designed to not just enhance how we interact in an interconnected world, but also solve some of the problems prevalent in its previous version.
Web1 is the read-only Internet. You can liken Web1 to an online library; it was a repository of knowledge and little else. Back in the 90s and early 2000s, the Internet was mostly non-interactive. You could look up information, but there wasn’t much else you could do aside from that. It was a bit like watching TV or reading the newspaper: you were only a passive consumer. Web2 is the read-and-write Internet. It’s what most users utilize today. The main selling points behind Web2 are content generation and interaction. You can post your own thoughts, upload photos, comment on videos, shop online, even form your own niche communities. Instagram, Facebook, Tiktok, and YouTube are at the heart of Web2. While Web2 is incredibly useful, there’s a huge problem behind it all: the sites and platforms we use own everything. Your content , your responses and even your data belong to them. No amount of “I DO NOT CONSENT” posts will change that. There’s a reason why these popular sites/social media platforms are free to use: YOU’RE THE PRODUCT that they sell to advertisers and political consulting firms. Big companies use your data to make money, often without your full understanding or consent. Web3 was designed to change that by focusing on ownership, privacy, and decentralization. It is built on three main ideas:: Blockchain technology is the backbone of Web3. Blockchain, in simple terms, is like a public, unchangeable shared notebook that records everything. Once something is written in this ledger , it’s nearly impossible to alter. You can add to it , but not modify the original entry. This fosters trust and security.: Foregoing dependence on a single authority , Web3 distributes the system on a network of computers to store and process information. A decentralized structure makes Web3 more resistant to censorship and hacking. : With Web3, you own your content. Unlike big social media platforms that own whatever you post online, your content is your own when you use Web3. You can even own digital items as if they were real-world possessions, thanks to the blockchain.Web3 isn’t just about technology, it’s also about practical improvements. Here are some examples, along with tools and apps to get you started: Tired of the inefficiency of banks? Web3 brings Decentralized Finance where you can lend, borrow, or invest without needing banks. Popular services include Aave for lending and borrowing cryptocurrencies, Uniswap for trading cryptocurrencies directly with other users, and Metamask for managing your cryptocurrency and connecting to DeFi apps. One of the weird things in this age is that you no longer buy things, you just get the rights to use them. Take video games – most services only sell licenses to games, not ownership of the game itself. In contrast to this, Web3 games utilize Non-Fungible Tokens to enable you to own your in-game items. For example, you might earn a rare magic in a game and it becomes yours – you can keep it, sell it, or even use it in other games. Gods Unchained , a trading card game where players own the cards as NFTs, is an example of a Web3 game. In this age of social media, do we really need big studios that end up getting the lion’s share of the profit? With Web3, artists and musicians can sell their work directly to fans as NFTs, circumventing big corporations and their greedy fees. Fans, in turn, get to own exclusive pieces of their favorite artist’s work and their money goes directly to the artists they want to support. OpenSea is the largest marketplace for buying and selling NFTs, including digital art and collectibles. Sound.xyz , on the other hand, is the platform of choice where musicians can sell songs and connect directly with fans. Web3 social platforms focus on giving users control of their data. Tired of being manipulated by Facebook or your data being used by highly unethical organizations such as Cambridge Analytica? Try Mastodon – a decentralized alternative to traditional social media platforms, where communities set their own rules. Another option is Lens Protocol . They’re still on testnet, but it is designed to also be a decentralized social network where your posts and data belong to you. If we equate Web2 to shopping at a giant supermarket where your options are dictated by a massive company, Web3 is more like a farmer’s market. A farmer’s market may be smaller, but you can talk to sellers directly, negotiate deals, maybe even participate in how things are run. Web3 aims to give you that kind of freedom and ownership in the digital world. And while Web3 sounds amazing and liberating, it’s still far from perfect. Present challenges still abound. Web3 is complex compared to what the public is used to, for example. It can feel confusing, even scary for beginners. Setting up wallets or understanding blockchain isn’t as simple as logging into Facebook. Web3 sites/apps also need to mind scalability. Decentralized systems would need to handle millions of users without slowing down – not an easy feat. Last, regulations are something that can complicate Web3 adoption. After all, governments are still figuring out how to oversee cryptocurrencies and blockchain technology. But just like the early days of the internet, innovation is happening quickly. As Web3’s utility becomes more apparent, it will become easier and more accessible for everyone.
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