Web3 (or Web 3.0) will revolutionize the way we use the Internet by integrating decentralization via blockchain technology. Some believe it will change the internet in the same way that Bitcoin (BTC) and other cryptocurrencies have changed the financial paradigm. In order to understand Web3, it helps to understand Web1 and Web2:
Web1 (or Web1.0) This is what we now call the beginnings of the Internet. Web1 allowed you to consume Internet content, but little else. The websites were static and non-interactive; you can just send simple one-way messages or emails. Companies were starting to create their own websites, but largely in glorified press release form; it was no way to interact with the public.
This way you could compare Web1 with a physical log. Made up of paper and ink, you are just a consumer of content. There’s no way to transparently see how popular an article is or who’s reading it – and you can’t interact with other readers.
Web2 (or Web2.0) This is what most people simply think of as the Internet today. Web2 is interactive and allows you to create your own content, comment and react to content, and interact with other users. This allowed the creation of social media networks and other interactive sites like Facebook, Twitter, Reddit, etc. Using our previous comparison, you could think of Web2 as our newspaper migrating to a website that allows you to interact in ways previously impossible.
Web3 is a response to concerns about the use of personal data and privacy on the Internet. In Web2, user data is largely controlled by major social media platforms, web browsers and websites. Web3, conversely, is designed to be a more transparent and censorship-resistant version of the Internet. More democratic than its predecessor Web2, it allows users to control both Internet architecture and user data.
Using blockchain-AI-based protocols,
Web3 is a decentralized version of the Internet that allows users to own their own data.
Beyond that, Web3 adheres to cryptographic philosophy and is designed to be permissionless (no centralized access controllers), trustless (no need to trust a third party), and open to all (little to no censorship of individuals/ideas).
NFT and Web3
Non-fungible tokens (NFT) have many blockchain features that make them useful and integrable with Web3. As unique blockchain tokens, NFTs allow you to seamlessly provide proof of ownership for items like digital art, music, data, game assets, personal records, and more.
Some social media platforms now have NFT verification systems that allow you to use a crypto wallet to prove NFT ownership – and use it as your profile picture (PFP). Beyond that, NFTs allow you to control your digital identity and can also grant you membership and voting rights. For example, a voting NFT could allow you to vote on where charitable funds go, how a blockchain works, or even change the characteristics of an NFT platform itself (like featured artists and fees). billed).
NFT use cases continue to grow; you can even use them to create Web3 website domains
When you register or sell a Web2 address such as “examplezyx.com”, you typically pay a third party to provide these services. Web2 uses a centralized database called Domain Name Service (DNS). Decentralized Web3 domain options like Crypto Name Service (CNS) and Ethereum Name Service (ENS) allow you to link your domain to a crypto wallet to accept cryptocurrency. You can even trade your Web3 domain on an NFT marketplace, much like any other NFT.
The deepening intertwining between NFTs and Web3 expands what is possible on the Internet thanks to the promises of decentralization. The use of NFT and cryptography on the Internet will likely become ubiquitous to take advantage of the aforementioned possibilities – and yet-to-be-developed solutions that will make the transition from Web2 to Web3 even more dramatic than the migration from Web1 to Web2.