The Importance of Web3
“Web3 embraces decentralization and is being built, operated, and owned by its users.”
Web3 or know as Web3.0 is a new era of the web that will transform our future, web3 is decentralised meaning that it is read-write-own by the individuals. Web3 relies on blockchain technology, smart contract including cryptocurrency for spending and sending money, NFTs, DAOs and DeFi. This means that web3 does not need to rely on third-party such as banking for transactions.
Web 3 was built to be largely decentralize platform to allow peer — peer interaction and owning your data! Before we look at web3 in details, let’s explore the history of the web beginning with web1 and web2.
Web1 : Read Only
Web1 is the origin of the web, it is a web containing static information.
The Web began when the Tim Berners-Lee invented the World Wide Web (WWW) in 1989. The World Wide Web was created to use data networks and hypertext so that web could be viewed by browsers.
Web2 : Read Write
Web 2.0 taking the internet from read-only to read/write! Now, you can interact with people on the internet, post your blog, leave comments and much more!
It is largely centralised by platforms like facebook, twitter and google. However, these platforms own your post and data!
Key importance of Web 3 : Read Write Own
Web 3 are bringing back the ownership to individuals so we actually own the data! The Revolutionary Web3 has a significant benefit over other web!
Decentralized
Web 3 ownership gets distributed amongst its builders and users.
Inclusive
Web 3 is inclusive, there is no permission required to access and participate in web 3. It is the internet of equality.
Cryptocurrency
Web 3 allows the users to create transactions and payment by using cryptocurrency to ensure the transparency.
Ownership
Individuals are the owner of their digital asset like their NFTs or non-fungible tokens. You are the true owner of your data and asset, and you can even trace back or authenticate all the selling information about your NFTs.
How will Web 3 change our future?
Seeing the web 3 capabilities, do you think it is the future trend where everyone involve in the web3 spaces? It is important for all of us to understand the new technology and how to adapt with it. It’s like when you heard of Bitcoin and all these chains to change the world.
- Promote innovations
- Brings Equality
- Transform our experiences
Decentralized autonomous organizations (DAOs)
