Wondering what the difference between Web2 and Web3 is? Well, you’re in luck! Today, we are going to break down the web2 & web3 differences and also explain the potential web3 has to offer over older versions we're familiar with.
Web2 refers to the current Internet, whereas Web3 refers to the Internet's progression and next generation. While this would be sufficient to answer “web2 & web3 differences, we’ll dig in a little more deeper.
Web3 hasn't really arrived yet, so we have no idea what it will look like. However, owing to cryptocurrency initiatives – many of which have already incorporated blockchain technology and are transforming the financial world – we can construct a picture of Web3 and the components it may have. If the Internet as a whole follows suit, it will fundamentally alter how we behave and interact online.
Between 1991 and 2004, the first generation of the World Wide Web existed. The read-only web was another name for it. It allowed users to search for and read information, as well as broadcast it. There weren't many content developers, and it largely consisted of static web pages. Although groundbreaking at the time, interaction and functionality were limited.
The present version of the Internet as we know it Is more dynamic and less static. When the first Web2 conference took place in 2004, it became popular. Its underlying system tries to actively engage people, and the material is increasingly user-generated. Web2 components such as blogs, wikis, and social media platforms have changed the way we exchange and present information. Consider Facebook or Twitter: users can not only read material, but also offer their views, viewpoints, and opinions by liking, sharing, tagging, tweeting, and so on. Without a question, we rely on "Big Tech" firms to deliver the infrastructure and services we require — a reliance Web3 aims to eliminate.
The future, and an Internet that is more intelligent, autonomous, and open. Computers will be able to understand information in a way that is more human-like, and users will be provided more personalized content and experiences thanks to technologies like Blockchain, Artificial Intelligence (AI), Augmented Reality (AR), and Virtual Reality (VR).
Big Tech corporations like Youtube, Amazon, Netflix, and Meta (Facebook) currently govern the Internet; they control the information, the power, and the revenues. Web3 intends to lead us toward decentralization of power and wealth by allowing them to trickle down to participants. Using blockchain technology and a version of Decentralized Applications is currently the most promising approach to do this (Dapps).
Web3 would make the Internet experience more personalized for the user, with faster search, more relevant marketing, better communication, and more information linkage.
Web3 wants to displace tech giants by returning entire control of data to customers using blockchain technology. Big Tech businesses such as Facebook and Amazon currently store your data and personal information, mostly to increase their target marketing. Many others, however, are concerned about one-sided data governance and see Web3 as a remedy. In the crypto world, blockchain technology is already being utilized to secure financial data, with transactions in the ledger being maintained in a permanent and verifiable manner. Encryption keys, which are separate from the service or program that generated the original data, might be used to keep access to the data.
Users may connect, transact, and share data safely and without relying on a third party with Web3. When you use Web2, copies of your data are sent to data servers every time you interact with the internet, and you no longer own it entirely. There is no centralized server in P2P, which is defined as a group of computers linked together with equal permissions and responsibilities for data processing. Huobi uses peer-to-peer (P2P) technology, which means that rather than a central authority or bank, the network manages transactions and issues tokens.
Users will be increasingly involved in future ecosystem advancements. As a result, ecosystems will no longer have presidents or CEOs, but rather Decentralized Autonomous Organizations (DAOs), in which token owners will collectively decide on important changes and advances.
Another feature of Web3 that makes it more democratic is that there are no constraints on who can join the network — neither users nor suppliers will need permission from a governing body to join. Everyone has access to services, and individuals can have an impact on networks based on the value they bring. You can contribute to the network's success as an investor, developer, or marketer by contributing your unique skills and output. You might even be awarded with a portion of the overall token supply.
You will have your own digital identity and more control over your privacy, as opposed to web2.0. Using an alias and a digital avatar, for example, would reassure users that their online activities are private and secure - something many of us question under the existing Web2 setup. Decentralized Digital Identity (DID) becomes a possibility with the development of Web3.
A DID is an Internet address that users can directly own and control. It can be used to locate a DID document, which provides information necessary to enable use cases such as login, data encryption, and communication. Others can prove control of these identifiers using cryptographic proofs. Users have complete choice over when, with whom, and under what circumstances their digital identity aspects are revealed. DIDs can perform the same function for the Internet as passports do for governments: they securely identify and give authentication, but with more ownership and self-governance.
Currently, Web2.0 data is stored on centralized servers. Any entity that gets control of the server, including corporations, governments, or hackers, can access, alter, or remove these servers. These parties can also refuse service access on their own authority, which may or may not be legal. IPFS and distributed hash tables, which are blockchain-related technologies, can create a content system that is considerably more difficult to block and take down.
This brings our topic "web2 & web3 differences" to an end. The new online world has a lot to offer us, so let's make the most of it! We'd love to hear what your take is on this topic! Let us know in the comments!
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