Welcome to PHILBlog
Bridging Philanthropy and Technology

What is Web 3? A quick look.

You’ve probably seen a lot of buzz about the coming of “Web3.0” While you may or may not have some understanding of what Web3.0 looks like, you may have additional questions: What were Web2.0 and Web1.0? It sounds like a simple question, but there’s more to it.

Vitalik Buterin, co-founder of Bitcoin Magazine, published a white paper that proposed that blockchain technology be used for purposes other than cryptocurrency. This led to the creation of the Ethereum Foundation, which launched in 2014, and introduced a platform for building decentralized applications.

There are three big ideas, one for each of these subsequent generations of the web. Those are “Read,” “Write,” and “Own.”

What is Web 1.0?
Web1 was the internet at its most primitive stage. This era was introduced to webpages and websites which were read-only informational pages. There were no options to comment or suggest. You could send emails but only texts and not photos or upload any images. It was created and used by companies rather than individuals.

Since only a few people knew how to operate and use the internet back then. Most large corporations hired computer experts to operate the internet and implement its use across the company for the employees’ use.

What is Web 2.0?
Web 2.0 was the major step up from 1.0 that changed how the world saw the internet. It became more widespread as it offered various information, user-to-user interaction, content creation, and blogging. Tim Berners-Lee coined the World Wide Web as sites, and social media applications became widespread. 

Instead of just static websites that pushed information to users, Web 2.0 introduced new forms of interactivity. Concepts such as blogging became popular, and social networks like Instagram, Facebook, Twitter took the internet by storm. Although these organization dominated the internet, personal data was commercialized thereby leading to misinformation, threat of hacking and finally monopoly and control since, 90% of websites are hosted by just a handful of companies. This gave rise to the need for a newer generation of the internet – the Web3.0.

What is Web 3.0?
Co-founder of Ethereum, Gavin Wood, who is a computer scientist, coined the term “Web 3” – a decentralized and democratic version of the web. Blockchain is a key technology behind Web3. It is often associated with cryptocurrency and the technology that underpins it. With the help of blockchain, developers will be able to build websites, platforms, and applications that are more secure, privacy-preserved, and censorship-resistant.

Web3 is the idea that tools developing and being implemented right now will allow us to control and potentially monetize our online presence in ways that aren’t currently possible or aren’t currently done. The future of WWW is Web 3.0, based on smart computer applications like Artificial Intelligence. It strives to create a data-driven interface and cater to every individual who uses the platform. Common examples of the web3 are blockchains, 3D graphics, metaverse, NFT’s and the Semantic Web.

You can roughly call Web3 the decentralized internet. It functions similarly to a blockchain, which is why some people use them interchangeably. Users have full ownership and control over their data on Web3. It’s also easier to transfer digital assets and cryptocurrency on the decentralized web. When you use an app on Web3 (which are also known as Dapps), you can help build and maintain it or even purchase partial ownership of it.

The iterations of the internet have evolved in terms of security, trust, and privacy. Web 3.0 promises to provide a promising infrastructure of the decentralized web. With Web3, we could see an internet that offers a more personalized surfing experience, smarter search engines, and decentralized benefits. It could also mean a more seamless integration between physical and digital worlds “physical” which could lead to greater, and more powerful, global connections, new ways of accessing education, linking technology to solve real-world issues, and more.

Leave a Reply

%d bloggers like this: