Web 2.0 + decentralization= Web 3.0

WEB 3.0 the revolutionary era has just begun

Let’s talk in equations: Web 1.0 + Web 2.0 = Web 3.0 answer is NO!!!

We are on the Web of generations. Web 2.0 leaped after Web 1.0.

Before directly striking about advancement that technology has provided us with, going step by step will give us better clarity:

4 design essentials of Web 1.0 were

1️⃣ Static page
2️⃣ Content is served from the server’s file-system
3️⃣Content creators were mainly developers
4️⃣ Frames and tables used to position and align elements

Web2.0 — The Participative Social Web. This is the web we’re experiencing every day. It’s user-friendly and everyone can create and share its content without any kind of technical knowledge. It’s dynamic and built upon the collaboration and interactions among users. The use of the world wide web starts here. Web 2.0 — You don’t own your stuff. Ever created videos on YouTube? Google owns them. Creating content on Facebook? Meta owns it. Posting pictures of cats on Reddit? Guess this. So everything belongs to you but you don't have the ownership rights!

You probably know how the web works now. But, here’s a quick recap below

Technically WEB 2.0 works in this manner:
1. Access the website from the browser
2. Browser sends a request to backend servers
3. The servers send back the requested webpage and its resources to the user/client (HTML, CSS, JS, images, etc.)

Web 3.0 is definitely different from Web2.0 — let’s see why, we call it a more intelligent version of the Internet, web 3.0

Web 3.0 is a machine-friendly internet, permissionless networks, semantic web, social web, and 3d interactive enabled technologies. a privacy-oriented, we have a payment system, which is like peer-to-peer payments.

What is the role of “The IPFS”, in web 3.0, sounds technical but is simple, its full name is “Intel interplanetary file system”, or that’s a project which allows you to spread your data over the internet, and share the data is not changed. So just imagine you have your document copy everywhere where it cannot tamper.

PROBLEM WITH WEB 2.0:

Have you seen Reportedly, Facebook chief Mark Zuckerberg masks his laptop camera with a tiny duct tape.

One of reason for Web 2.o to flourish and we see is innocuous drop of Web 2.0 by handful because of Netflix Documentary, called The Social Dilemma. This one-and-a-half-hour film exposes the ways in which technology giants have manipulated human psychology to influence how we behave. If this sounds frightening, it is. It explains how chiefs of tech companies severely curtail the screen time of their own children, while apparently trying to addict every other adult and child on the planet.

The path to success for these new kinds of democratic networks will be arduous. But a revolution has begun, and it is our revulsion of current models that could relieve us of our social dilemmas.

Let me explain with an example:

Web 3.0 will mean that sharing photos, communicating with friends, and buying things online will no longer be synonymous with Big Tech giant companies but be done through a multitude of small competing services on the blockchain — where, for instance, every time you post a message, you earn a token for your contribution, giving you both ownership stake in the platform and one day a way to cash in.

Just imagine a crypto version of Twitter replacing Twitter which means introducing Web 3.0 features on top of standard Twitter. You are the owner of your content, it’s decentralized and you are paid in cryptos.

Sounds fancy indeed, Have you used brave browser and earned BAT Tokens? If not try it to get a feel of the WEB 3.0 era, the genesis of the same has already started.

but the point is why do we need web 3.0, necessity is the mother of updations. But then it is all because a problem is addressed by a newer version of the technology.

Web2 problems addressed by Web 3.0:

1️⃣ Centralized

2️⃣ Vulnerable to attacks / single point of failure

3️⃣ Censored

1️⃣ Centralized

This means that it’s not controlled by any authorities, it’s controlled by the people belonging to the network.

In other words, Web3 is ‘spread’ across multiple computers in the world. The power is in the hands of the people.

Definition: It’s a worldwide, open-source platform for decentralized apps to run on. You can do everything you can currently do now, the mild difference being that in Web3, everything is decentralized.

2️⃣ Vulnerable to attacks / single point of failure

In Web2, you can take down the network by attacking the central authority

For example, if someone wants to take Twitter down, all they have to do is to attack Twitter itself.

This can cause the whole system/app to fail.

3️⃣ Censored

Web2 is censored. Currently, platforms can ban or censor anything they want.

For example, Twitter can ban any account or a Tweet they find inappropriate.

Fortunately, Web3 solves these problems. Web3 is a HUGE game changer to our current web, which is why people keep saying it’s the future

Web3 benefits:
1️⃣ Decentralized
2️⃣ Not vulnerable to attacks
3️⃣ Not censored
4️⃣ No personal data

1️⃣ Decentralized

Web3 is democratic; the power belongs to the people running the network (blockchain).

If you’re part of a blockchain and contributed to it, you have a say on how it runs.

You need everyone’s approval for anything in the blockchain to change!

2️⃣ Not vulnerable to attacks

Web3 servers are difficult to attack because it’s decentralized; meaning it has a bunch of computers running their servers.

To attack a server, you’d have to attack all of the computers in the network simultaneously, & that’s nearly impossible to do. In other words, it doesn’t have a single point of failure. In Web3, the network can still function even if it’s been attacked.

3️⃣ Not censored/unstoppable

Web3 isn’t censored at all. Web3.0 applications or DApps are not hosted on centralized servers but on a network of computers connected to the blockchain. The code is completely open-source and their data is fully transparent while granting anonymity.

For example, Twitter in Web3 wouldn’t be banning anything you post.

If something is published in Web3, nobody can take it down and nobody will ban you!

4️⃣ No personal information and payments in cryptocurrencies

Making transactions in Web3 doesn’t require any personal or bank account information. You just need a wallet. They’re easy to set up and fully controlled by you.

This is different from Web2, which requires your name, email, phone number, & other personal info.

An example of Web3 is the Ethereum project.

Firstly, to access Web3, you need an Ethereum wallet, like MetaMask.

MetaMask is a chrome extension wallet that provides you with a username, which gives you access to all Web3.0. Essentially, it’s like having one username for everything on Web3, rather than different usernames and passwords for different platforms. Then, it points to the blockchain (backend) & smart contracts for the data.

Lastly, it grabs that info. and goes back to the user. Let me discuss the Monetization part, without Selling User Data you yourself earn, When you hear about web3, cryptocurrency is often part of the equation. This is because cryptos provide a financial incentive for anyone who wants to participate in creating, contributing to, and interacting with a Web 3.0 Project. They have technology guardrails against the accumulation of power and data in the hands of a few. Digital currencies enabled by these technologies offer a business model of users paying for services and content with micro-transactions, as an alternative to advertiser-pays. People are given “tokens” for participating. The tokens can be used to vote on decisions, and even accrue real value. You can actually monetize your services in one or another way. Also, some people use blockchain to ensure governance.

Let’s take one more example:

Decentralized Finance: Basically, DeFi is a decentralized alternative to the traditional banking system. DeFi applications are accessible to anyone with an internet connection, and they’re maintained by their own users. There’s no central authority that can block payments.

So what say aren't we in need of by the people, for the people, and of the people mechanism of working of Internet?

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Chartered Accountant in the Cryptocurrency space evolving with world, Financial Tax advisory, Content writer by choice, Fin-tech, Researcher, Learner!

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RIDDHI JAIN

RIDDHI JAIN

Chartered Accountant in the Cryptocurrency space evolving with world, Financial Tax advisory, Content writer by choice, Fin-tech, Researcher, Learner!

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