Web3 is a buzzword that refers to the future of the internet. People say it’s what Web 3.0 or web3 will offer us, but what does this mean? Let’s go ahead and take a look at what Web3 is, and what its in store for us.
What does Web 3.0 mean?
Web3 provides democratization of the internet, instead of seeing these large conglomerates run it. Web3 means something different to everyone though and is a pretty nebulous term
Web 3.0 will remove the dominance of huge websites like Meta and give real power to the people. The technology is still in its infancy, so it’s an attractive vision for a lot of people.
Understanding where the internet is headed, we must first look at where it came from.
The impact of Web 1.0 and Web 2.0 on data
In Web 1.0, the internet was mostly just a collection of read-only pages that did not have any interactivity with the reader. The majority of sites were operated by individuals or small companies. Web giants had not been created yet, but they would soon debut.
The internet changed in 2004 when Web 2.0 emerged, which changed the way sites were created. Web 2.0 allowed for interaction and social media, as well as sites taken over by large companies. Although regular people still operate their own websites, they are in the minority now.
20 years ago, it would be unheard of for big companies to operate completely within the internet. In fact, Facebook and Google are two of the best examples today.
The Pros and Cons of Web 2.0 Versus Web 3.0
The decentralized entities in Web 3.0 rival the ones in Web 2.0; however, they allow for a more interactive platform
Learn more about Web3 and how it works
Web 3.0, the next iteration of the Internet, primarily has to do with blockchain technology, in a way that many people refer to Web 3.0 being used in conjunction with anything related to Bitcoin and cryptocurrency. One example of Web 3.0 is decentralized applications (dApps) that run on the Ethereum blockchain.
This system would use decentralized storage, or data that is spread across the internet rather than being stored in a single location. The flow of data and information would be transparent because it would be blocked into a blockchain which regulates data.
There could be a decentralization of the internet with web use being possible from more locations. This would enable many people to use the internet, as one-third of the world has never used it before. Artificial intelligence could prevent abuse but also help users on the web.
Some Of The Objections Against Web3
There are many negatives to the rise of Web 3.0, one of which would be a loss of privacy. In a fully transparent system, you can always be identified in the same way that cryptocurrency isn’t anonymous. You may not want secrecy to go out the window entirely and think the rise of Web 3.0 will not suit your needs.
Most people oppose Web 3.0 because it’s not cleanly defined yet and relies heavily on technologies that are still in development. However, those who defend it find Web 3.0 exciting and innovative because of the freedom from Meta or Google and what would result from a decentralized internet.
People love the idea of Web 3.0, but there are some major problems that need to be fixed before it can happen. One problem is the technology of blockchain. Blockchain is great and all, but it can slow down processes if they are used together. Another problem with Web 3.0 is that there isn’t advanced machine learning. This technology will one day get developed and in the meantime, there will be a future version of Web 3.0 that solves these problems.