What is Web3

 

In order to know where you are going, you need to know where you have been. The same is true for th internet. In order to truly understand what Web3 is, an understanding of the evolution of the internet is needed. 

The Past - Web 1.0

Web 1.0 is often referred to as “read only” web. This is because users could not create any content, write posts, or add any information to the internet. It was a place to read, gather, and locate information. 

The Present - Web 2.0

Web 2.0 took what Web 1.0 did and improved on it. With Web 2.0, users were now able to react, create and produce content on the internet themselves. The internet was no longer just a digital library of information. Social media is a great example of what Web 2.0 embodies. The majority of the younger generations produce content on some form of social media whether it be Instagram, Twitter, TikTok, or other platforms. The users are actively contributing to, and actually creating the internet. However, they do not own any of that content or information that they produce. Once the content is posted, the central entity, the social media platform, then owns that content and is able to monetize it. The user is able to create content, but has no power or control over their data. 

The Future - Web 3.0

Web 3.0 is the next evolution of the internet. It takes Web 1.0 and 2.0, and gives even more power to the user. Web 2.0 gave the power to create content, Web 3.0 gives the power to “own” the content that is created. What this means is that users do not have to rely on an intermediary like a social media network to put out information. Web 3.0 emphasizes permissionless sharing, trading, and use. Similar to what was stated earlier, this means no centralized entity is required. The focus is on giving power to the user to be able to create and own their content, as well as creating their own communities.