What is Web3?
First, there was Web1, which generally is everything from the earliest interconnection of computer networks. Then Web2 is where companies built applications on top of that for social media and search engines and more. However, most things still run through big companies. Now everyone is talking about Web3, which is the supposed next big evolutionary leap forward of the internet.
Web3 is not exactly a defined thing as of yet and is currently in progress however as today’s internet is controlled by governments and corporations, the whole idea of it is that is it decentralised and will run on the blockchain. These ate apps that allow anyone to participate without monetizing their personal data.
For example sites such as Twitter or Instagram can censor any account or tweet whereas Web3 would allow things to be uncensored because control is decentralised. It also requires no personal data for payment apps, however using web2, A payment service can decide to not allow payments for certain types of work.
There are many benefits that come with Web3 such as permission isn’t required to use the service, you cant be blocked or denied access to the service, payments are built-in via native token and you can now pretty much program anything.
Simply, Web3 refers to an internet that promotes decentralized protocols and aims to reduce the dependency on large tech companies such as Amazon, Netflix, and Youtube. They will create apps that are not limited to a single cloud server and is similar to how most cryptocurrencies work based on the blueprint bitcoin.
There are many benefits that come with Web3 such as permission isn’t required to use the service, you cant be blocked or denied access to the service, payments are built-in via native token and you can now pretty much program anything.
Simply, Web3 refers to an internet that promotes decentralized protocols and aims to reduce the dependency on large tech companies such as Amazon, Netflix, and Youtube. They will create apps that are not limited to a single cloud server and is similar to how most cryptocurrencies work based on the blueprint bitcoin.