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Jun 17, 22  |  ibrahim imran

Web 3 for Dummies: Everything You Need to Know About Web 3.0

If you work in the IT sector, there is no chance you haven't heard of "Web3" or "web3 platform." The recent appearance of numerous Web 3 Platforms, including MetaSky, has sparked interest in the internet's future. Ten years ago, the web was very different from the one we use and engage with today. Web3 seems to be the inevitable next step in this shift, which will only continue to accelerate.

Web 3, commonly referred to as "Web 3.0" or "Net 3," is becoming more popular, especially among cryptocurrency enthusiasts. Cryptocurrency supporters, major tech companies, and venture capital firms got into a heated argument about the future of Web 3 in the closing weeks of 2021.

A version of the internet that is decentralized, open source, and, most importantly, free from Big Tech's control is referred to as Web 3.0 or Web 3.

What you need to know to understand the fuss is provided in this complete guide on web3 for dummies. We will “dissect” the Web3 idea in this post. So let's get going.

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Web3 for Dummies: Understanding Web3 

The Web 3.0 era is only getting started. Similar to Web 2.0, Web 3.0 starts with the abstract idea of exchanging information over an open network and develops into an internet that is more equitable and transparent. Web 3 platforms are therefore frequently associated with blockchain technology.

It will resemble a "web of data" that can comprehend, mix, and automatically analyze data to give users an experience that is far more rich and dynamic. However, there are platforms on the decentralized web that would put the power (and data) in the hands of users rather than corporations, posing a threat to the dominance of the tech giants.

What Sets Web 3.0 Apart From Earlier Iterations?

The most significant advantage of Web 3 is that it seeks to address the most serious issue created by Web 2: private networks gathering customer data that can later be sold to marketers or stolen by hackers.

Web 3 is a decentralized network that isn't run by a single organization, and the applications (apps) that are built on top of it are open source as well.

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>>> Web2 & Web3 Differences: The Web3.0 Revolution

What Core Components of Web 3 Are There?

The internet we use today is essentially just a better version of the internet we used in 2010. On the other hand, Web3 represents a fundamental change in the way we access and engage with the internet.

Based on what we've discussed thus far, Web3 is the next phase of the internet's decentralization, in which users can choose any online service they like without fear of privacy invasion or interference from outside internet service providers.

Let's now discuss the key elements of Web3.

What Is the Relationship Between Blockchain and Web 3.0?

As was previously said, the foundation of Web3 is blockchain technology. Users control their data and can swap it without losing ownership since data is decentralized utilizing a blockchain network. There is no threat to the data and no involvement of outside parties. It also offers a safe way to sign into a number of services.

Furthermore, bitcoin, another essential Web3 component, depends on blockchain. Web3 transactions use non-fungible tokens and are supported by blockchain technology (NFTs).

Intelligent Machines (IM):

Even though Web 2.0 has its own version of AI, big tech companies still control the majority of the market. In Web 3.0, AI will be employed to promote decentralization.

Virtual Reality and Augmented Reality

Another critical element of Web3 is AR/VR since it will lay the groundwork for the metaverse, which is essential for Web3's future. We'll discuss the metaverse in more detail towards the conclusion of this piece.

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What Does Web 3.0 Aim to Achieve?

So far in this post “web3 for dummies” we’ve covered aspects such as what web3 is all about and its relationship with blockchain. However, what is the purpose of web3? What does it aim to achieve? Let’s find out.

When we use the Internet, we no longer have ownership over our data since copies are created and stored on servers run by businesses like Google and Facebook. Although the fact that our data is stored by other parties isn't always a bad thing, things may rapidly get out of hand if one firm manages the entire process.

Do we want a society where people can utilize the information you provide for selfish or malicious reasons? This is far more than just privacy; rather, control is the crux of our problem. Every day, we give businesses and individuals access to petabytes of data with no obvious alternative

Even after reading this piece, we will still use our information to register for apps out of convenience. The advantage of the technology is that it can, after all.

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As a result of offering three main solutions to Web 2.0's flaws, blockchain appears to be the impetus behind the next-generation Internet in this context:

Privacy & Security

Internet users will be able to keep their personal information secure and out of the prying eyes of governments or other organizations thanks to the development of a better web that makes use of the most latest cryptographic technologies.

Distributed Storage

Decentralized storage is possible as long as massive data can be broken up into tiny bits, each of which can be encrypted separately and kept in a different location. Similar to IPFS, other protocols and systems exist that are designed to be broken into by simultaneously breaking into a number of different systems throughout the world, each with its own unique set of security measures.

Reputation & Identity

We are not the only ones worried about how the increased anonymity would impact online reputation and trust. As a result of the data we publish on social media and other websites, our digital identities are already constructed and exist on the internet. We continually need to manage and update that material on the new web because it is constantly changing and does not belong to us.

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Is Web 3 the Future of the Internet?

Our guide on web3 for dummies has covered all the major aspects one needs to be aware of as web3 will soon be here.  Up until this point, it's easy to think that Web 3.0 can fill in the gaps left by Web 2.0 and provide solutions to the issues it's brought about. It's important to note, however, that the majority of Web 3.0's features are still futuristic ideas that have not yet come to pass.

Given this, it is unrealistic to anticipate that everything will happen as expected. Despite the fact that it took more than ten years, web 2.0 replaced web 1.0. As a result, it is anticipated that Web 3.0 will take just as long, if not longer, to deploy fully.

Therefore, Web3 cannot be seen as the ideal state of the internet's development. However, many people, especially those in the cryptocurrency industry, think that a number of alternative Web 3 Platforms will arise.

If You enjoyed our guide on web3 for dummies, make sure to check our guide on Metaverse for dummies

Distinguished.io helps you connect with the best web3 developers in the world. If you're looking to develop a decentralized application or need help in shifting your firm's operations to blockchain technology, find the best professionals to help you right here on our b2b platform

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