Is Web3 Our Future

Is Web3 Our Future

The Web we are experiencing today is much different than what it was just 10 years ago, people often ask; how has the web evolved and where is it going next? This question has lead us to talk about the evolution of the web which is divided into three separate stages: Web 1.0, Web 2.0 and Web 3.0.

WEB 1.0 is the first iteration of the web which is the ‘read-only web’. The early web allowed us to search for information and read it, there was little user interaction or content generation and this is what most website owners wanted because they needed a website to make their information available to anyone at any time while WEB 2.0 brought about its ability to contribute content and interact with other web users ‘read-write web’.

Web 2.0 is a welcome response to web users who wants to participate in the information for example look at YouTube and MySpace which rely on user submissions.

This leads us to Web3. Web3 enhances the internet as we know it today with few other added characteristics, it is Verifiable, self- governing, does not need permission and has native built-in-payments which means that it uses cryptocurrency for spending and sending money online instead of relying on the outdated infrastructure of banks and payment processors.

Web3 has become a catch-all term for the vision of a new, better internet, at its core, Web3 uses blockchains, cryptocurrencies, and NFTs to give power back to the users in the form of ownership ‘read-write-own’, it has a strong emphasis on decentralized applications and it will also make use of machine learning and artificial intelligence to help empower more intelligent and adaptive applications and provide relevant content for each user instead of just the content that other end users have provided.

Instead of a Web monopolized by large technology companies, Web3 embraces decentralization and is being built, operated and owned by its users. Web3 puts power in the hands of individuals rather than corporations.