At the core of Web3 is the idea of a decentralized internet, an internet that is not controlled by tech giants such as Google, Amazon, & Meta.
What happened to Web1 & Web2?🤨 Think of them as internet generations, with Web1 characterized by static web pages & only used by those with technical know-how.
Then came Web2, characterized by dynamic, editable, & user-driven internet, which led to the formation of the social media websites we know today. However, that came at the cost of “centralizing” the internet into the tech giants mentioned above.
More Details🧐 Websites & apps built on Web3 won’t be owned by a central monitor, but by users who will earn ownership stakes by helping develop & maintain those platforms.
Proponents of Web3✔ Those who support Web3 claim that it combines the best features of Web1 (a decentralized internet) & Web2 (dynamic & editable), putting power in the hands of everyday people rather than large companies.
Skeptics of Web3❌ Those against Web3 argue that if the goal is to resist giving data up to tech giants, then the answer shouldn’t be to put it on a blockchain where it’s available to the public.
Why is this Important🤔 Like cryptocurrencies & NFTs, Web3 is based on blockchain technology. Whether you’re with it or against it, you can definitely expect to hear more about Web3 in the coming period.
