Web3 is a generation of the internet that promises to give more freedom to users through decentralization and the use of blockchain technologies. If we are used to the traditional internet (Web2), where the main role is played by large corporations such as Google, Facebook and Amazon, then in Web3 the control passes to the users themselves.
What does it mean and how everything works. Let's go
From Web1 to Web3: what's the difference?
Web1 (static internet):
Early websites were like books: you could only read information. Users were passive observers, without the ability to comment or interact.
Web2 (interactive internet):
This is what we use now. Social networks, online stores, apps have emerged. Users can create content (posts, photos, videos), but all data and control are in the hands of large companies.
Web3 (decentralized internet):
Now the focus is on decentralization. This means that data is not stored on the servers of a single company, but distributed among users. The main tool of Web3 is blockchain, which makes this process transparent and secure.
Key features of Web3
Decentralization
In Web3, data is not controlled by a single organization. Everything operates on the basis of blockchain — a vast distributed database where information is recorded in a chain of blocks and stored by all network participants.
Data ownership
In Web2, your data belongs to the platforms you register on (for example, Instagram or Google). In Web3, you control your data with cryptographic keys.
Transparency
Thanks to blockchain, every transaction or action in Web3 is recorded and available for verification. This makes the system fairer and more trustworthy.
Use of cryptocurrencies
In Web3, cryptocurrencies are used for payments and interactions. For example, tokens can act as payment for services or be a reward for participation in a project.
Automation through smart contracts
Smart contracts are programs that automatically execute actions when specified conditions are met. For example, if you buy an NFT, the smart contract automatically transfers ownership rights to your wallet.
Examples of Web3 in real life
Cryptocurrencies
BTC and ETH (I've caught myself mentioning them everywhere🤔) — these are examples of decentralized financial systems that do not depend on banks.
Decentralized applications (dApps) (there was an article in the profile somewhere🤔)
These are applications that operate without a central server. For example, Uniswap for cryptocurrency exchanges or Audius for music.
NFT (many who have heard claim it's outdated… But… that's far from the truth, it's still an evolving technology. Although the hype around pixel images may have subsided, the concept of NFTs remains relevant. They are used in art, games, proof of ownership, and even in documents) We can discuss this separately later 😉
In general, these non-fungible tokens allow you to confirm ownership of digital assets such as pictures, videos, or in-game items.
DAO (decentralized autonomous organizations) (there is also an article in the profile)
These are communities where participants manage the project by voting. Everything is automated through smart contracts.
Metaverses
Virtual worlds like Decentraland use Web3 to sell virtual land built on blockchain.
Advantages of Web3
User control
You decide who and how uses your data.
Data protection
Information is distributed among network participants, making it resilient to hacks.
Transparency
Every action on the blockchain is recorded and can be verified.
New earning opportunities
You can earn income from your data, creativity, or participation in projects.
Disadvantages of Web3
Ease of use
Many still find it difficult to understand crypto wallets, tokens, and smart contracts.
Security risks
If you lose access to your crypto wallet, it will be impossible to recover it.
Slow adaptation
Web3 is just gaining popularity, and not everyone is ready to switch to the new system.
Regulatory issues
Governments still do not fully understand how to regulate Web3 and related projects.
Why is Web3 important?
Web3 can completely change how we interact with the internet. It is a step towards a fairer and more secure digital environment where users become the main participants and owners.
Of course, Web3 still has many challenges and has a long way to go. But its potential is huge, and it is already beginning to shape the future.
If you want to better understand Web3, start with small steps... It may seem complicated, but like everything new, it requires a bit of time and practice😉