Surely you have seen the phrase “Web 3” somewhere when surfing social networking sites? Or maybe in the future you will see this word quite a lot. Below we will learn some basic information about Web 3, what people are imagining about it and some comments from experts about Web 3. The article will also mention Blockchain and virtual currency.
1. What are Web 1 and Web 2?
Before we get into what Web 3 is, let’s first define Web 1 and Web 2. All three terms, Web 1, Web 2, and Web 3, describe an era of the Internet. Web 1, the first era with the World Wide Web, was launched in 1991. Web 1 was read-only websites, usually made up of static web pages where businesses or organizations displayed their information that users simply read rather than interact with. The current era of the Web, Web 2, was born in the 2000s. This is when user-generated content such as blogs, comments, images, videos, etc. was developed and interactions with websites exploded since then. Social networking sites such as Facebook, Twitter, etc. were established and gradually became an indispensable part of our lives. This is why Web 2 is called Read-Write Web.
Another key feature of Web 2 is centralization
Which is something that Web 3 proponents have been vehemently opposed to. The rise of social media and search engines australia telegram data has also been accompanied by the growing monopoly of Internet companies. This new type of economy, with its targeted advertising and opaque use of users’ private data, has made many people feel uncomfortable with their ties to the Internet. Especially since the content created on these sites tends to be owned by the companies that own the sites rather than the creators.
One key difference between Web 1
Web 2 is that it hasn’t actually happened yet. While Web 1 and Web 2 were real platforms, Web 3 is just a hypothetical idea of what the Internet could become. As such, Web 3 is still a fairly vague idea and its feasibility is not yet well established.
Web 3 aims to create an Internet that is entirely based on Blockchain technology, completely free from the influence of large corporations. Basically, the content created on the network will be owned by its creators (read-write-own web). Web 3 proponents believe that it will “Democratize” the Web, helping to create online services, products, and entirely new types of companies and economies that allow everyone to control the flow of information and make money, not just the heads of large corporations. Cryptocurrency wallets will be encrypted to ensure privacy, and Web 3 content will be completely private and transparent, so you won’t have to worry about censorship anymore.
Reading up to here
you probably feel that Web 3 is popular mobile commerce trends in 2023 quite interesting, right? But how does it actually work? Let’s read on!
In the Internet world combined with Blockchain, the initiators claim that there is no censorship. Everyone can participate. But, how? Basically, the blockchain will take on the role of a ledger that records transactions by adding blocks to the chain, expressed through consensus algorithms such as PoW (Proof Of Work) and PoS (Proof of Stake).
When a transaction is made
No one is responsible for frist database this ledger and no one has any rights. These blocks are permanent and cannot be deleted. For example, PoW is the blockchain of cryptocurrencies like Bitcoin that is in operation today. A group of miners will add the transaction to the “ledger” by performing. A complex calculation and adding this block to the chain. In the process, they will receive 1 new bitcoin. PoS (Proof of Stake) is an algorithm that makes adding blocks easier. Instead of having to solve a complex equation. Only those who own a stake in the chain need to verify the new block.