Marvelous David
Web 3 has often seemed confusing to me, and whenever it's brought up, I find myself lost and eager to comprehend it better.
If you were like me then this post is for you
Web 3.0, also known as the decentralized web, is a new way of using the internet that gives users more control over their data and online experiences.
For Example, In the current Web 2.0 model, when you use a social media platform like Facebook or Twitter, your data, such as your posts, photos, and personal information, are stored on the platform's servers.
The platform has control over your data, and they can use it for targeted advertising or other purposes.
Additionally, the platform can decide what content is shown to you and can even censor or manipulate the information you see.
Now, let's imagine a Web 3.0 social media platform built on decentralized principles.
In this scenario, your data is stored on your device or a decentralized network like the blockchain.
You have full control over your data, and you can decide who can access it and how it is used.
Your data is encrypted and secure, reducing the risk of data breaches or unauthorized access.
To understand Web 3.0, let's start with the earlier versions of the web.
Web 1.0 was the first version of the web, where websites were mainly static and users could only consume information.
It was like reading a book online, where you couldn't interact much with the content.
Web 2.0 came next and brought us social media, online shopping, and interactive websites.
It allowed users to create and share content, connect with others, and participate in online communities.
Web 2.0 made the internet more dynamic and engaging.
Now, Web 3.0 takes things a step further.
It introduces the concept of decentralization, which means that no central authority or company is controlling the Internet.
Instead, power is distributed among users themselves.
In Web 3.0, you have more control over your data.
Currently, when you use social media or other online services, your personal information and activities are often stored and controlled by the companies that provide those services.
With Web 3.0, you can store your data on your device or a decentralized network, and you have the power to decide who can access it.
This gives you more privacy and security.
Another important aspect of Web 3.0 is the use of blockchain technology.
Blockchain is a digital ledger that records transactions and data transparently and securely.
It allows for peer-to-peer interactions without the need for intermediaries.
In Web 3.0, blockchain enables decentralized applications (dApps) that run on the network, making them resistant to censorship and tampering.
Web 3.0 also brings the concept of smart contracts.
These are self-executing contracts with the terms of the agreement written into code.
They automatically execute when the conditions specified in the code are met.
Smart contracts eliminate the need for intermediaries such as lawyers or banks, making transactions faster and more efficient.
Overall, Web 3.0 aims to give users more control, privacy, and security while promoting transparency and eliminating the need for middlemen.
It empowers individuals to own their data, participate in decentralized networks, and engage in peer-to-peer interactions.
You can relate to it now, right?
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