What you should know about Web3.0

Keeping up with revolutionary technologies may be tricky sometimes because of the big amount of new information to digest as an internet consumer. However, it is primary to have an idea as to where our world is going! So we will be trying to give you an explained vision of Web3.0. A term commonly used these days with cryptocurrencies, NFTs, decentralized websites, and even marketing.

Going back in history, we find Web1.0; Web2.0, and since 2014, a new web is here and it’s called Web3.0.

Web1 was a way to connect to the WWW to receive information and documents without any means to interact, share, or comment. Comes then the Web2 that we are all using today, where we can connect not only to information but also to people. It is about collaboration and participation to divulge information between us, internet users: on Facebook, Youtube, Instagram, etc.

In 2014, Gavin Wood, founder of Polkadot and Ethereum, used the term Web3 referring to a decentralized ecosystem based on Blockchain technology. To understand this term better, we can address its fundamentals.

Property is one of the most important reasons that dissociate Web3 from others. Being decentralized, Web3 shares property between creators and users. There are no big firms or organizations that have all control over what we share on the web. Therefore, no one can get excluded. Everyone has access to contribute and use Web3 since it is open. People might wonder about security since there is no centralized control, but they shouldn’t. Using blockchain technology, Web3 is trustless, meaning that there is no need for third parties to secure your data. That way, there is prevention to letting companies and organizations control the internet, a problem consistent in Web2.0.Transferring or spending money relies on cryptocurrencies since it is on blockchain networks.

Now one might understand basic stuff about that new way of connecting with the world, but the question is: why is it gaining so much attention?

Attention comes from property mainly. Giving exclusivity to creators on the internet makes Web3 a more trusted space for them to share their work. Web3 is a place where you can sell or buy NFTs (Non-Fungible Tokens) such as assets, memes, music, etc. As an example to show that importance, we’ll take the case of a song: if you share a piece on Web2.0 on a specific platform and someday that platform decides to take it down, you will lose whatever information or value of that song that came from putting it up in the platform: thus, in Web3.0, no one can modify or take down work, if you’re unhappy with a platform, you can easily take that song with all transactions and interactions made with it to another platform that is more suitable for you. Ownership over content, even at games (with skills you buy for example) is practically the future for internet users. These networks are decentralized websites, you can use them easily daily.

Web3 is a massive sea with many layers to explore. We will be addressing all of them in future articles; Websites, Metaverse, NFTs, etc. A whole new chapter is opening on the internet and we are here to introduce you to it.

As Web3.0 experts, we give you access here to get in touch with us and get a consultation for more information and services from our team.