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If you are already recognizable with the metaverse and blockchain technology, then surely you have also heard of Web3 in the Crypto World or Web 3.0.
Although it is a prevalent concept within the circles interested in cryptocurrencies and NFTs, Web3 goes much further.
Don’t stop reading if you want to know everything about this new website, what it consists of, and why it could be a revolution for the Internet.
What is Web3
In short, it is a new evolution of the Internet.
Web3 in the Crypto World: The early web is called Web 1.0 and was based on hyperlinks. During the Web 1.0 era, users were just consumers of content, and the web was considered “read-only.”
In web 2.0, the current one, the focus is social networks. It is the era of interactivity, and users are also beginning to generate their content. However, they continue to depend on the services provided by large companies such as Facebook, Amazon, Apple, or Google. It wide believe that users pay for their use of these services in private data that companies can exploit, and it is they who monetize the content created.
Web3 in the Crypto World or Web3 would be the next step in web evolution, and it revolves around tokens. Tokens are digital units that use to exchange blockchain technologies.
The goal of web3 is to achieve a decentralized internet in which developers and users create, monetize, and own tokens. It would be, in the opinion of those who bet on this new evolution of the web, the best of both previous versions.
How Web3 can change the Internet
Greater privacy and security
Cybersecurity is an area that also talk about a lot. As we have already mention above, it now widely accept that our private data ceases to intimate when we click on a website or download a new application. Companies like Google and Facebook make copies of our data, and as users, we lose control over how it use. What Web3 offers, which is based on blockchain technology, is an increase in privacy and the possibility of keeping our data private and away from the prying eyes of companies and hackers.
decentralized Internet – Web3 in the Crypto World
Web3 would not rely on centralized servers but would depend on blockchain technology to move information across a large number of computers across the globe.
This feature has its advantages and disadvantages. On the one hand, a decentralize internet network is much more challenging to bring down because it is practically impossible for all the nodes of the same network to go down simultaneously. On the other hand, however, it also implies that the processing speed will be lower.
It is about finding the balance between obtaining a network that less vulnerable but more difficult to coordinate and therefore slower.
Identity and Online Reputation
The use of blockchain results in a higher level of anonymity. That is not very different from what happens today. We create digital identities, and all that data upload to social networks and various websites.
In this sense, the difference between web3 and web 2.0 is, once again, who in control of that data analysis and, above all, of data visualization. In the case of web3, the user would in possession and management of the data, which does not happen with web 2.0.
Web 3.0 today
Although a fully decentralized internet is still a long way off the horizon, some of the technologies capable of making Web3 a reality are already being developed.
For example, there is a decentralized version of Youtube. It calls DTube, and it already contains videos that use blockchain for both their database and payment system.
There is also Ethereum, a decentralized network on which all kinds of applications can program.
The main challenge for Web3 right now is infrastructure. Ethereum, with all its advantages, is still very slow. Therefore, much research will need to improve the performance of this type of network.
Another challenge facing Web3 is the user experience. Using decentralized applications requires technical knowledge, extra software, and many additional steps.
Today, Web3 is still in the early stages of research and development. It’s an exciting concept, but it still lacks what it takes to make it happen. However, we can already find decentralized applications willing to compete with mainstream apps.
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