Web3 for Dummies: Everything You Need to Know
There’s a lot of talk in the tech world these days about Web3. But what exactly is it, and if there’s a Web3, shouldn’t there be a Web1 and a Web2, as well? Beyond that, why do we need a different version of the Web? Isn’t what we have now enough?
As technology develops, there is invariably some concern among much of the population that it will be beyond the comprehension of most people. But there isn’t a great cause for concern. In order to find answers to all these questions, let’s break down exactly what Web3 is, how we got to it, and how it works.
Web 1.0 and Web 2.0
First of all, it should be clarified that Web3 is not exactly the successor to Web1 and Web2. What is now known as Web 1.0 was originally known as the World Wide Web, back in 1989 when it first launched. It became known as Web 1.0 as the Internet developed to include more advanced functions. Web 1.0 is now known as the “read-only” Web as it didn’t include any of the the interactive features that came later. Web 1.0 involved simple sites that could be read and had information taken from them. Basic email services like Hotmail and Yahoo! started to develop during this period (although Yahoo! didn’t include anywhere near as many functions as it does now).
What we now call Web 2.0 came about in approximately 2004 and started to include more interactive features. This period saw the rise of chat rooms, social media, and other features that allowed people to actually leave their mark on the Web, rather than just taking information from it. At the time, it was still simply known as the Web, but the evolution was underway for yet bigger changes.
Web 3.0 and Web3
Web 3.0 is the next iteration of the Web then, the one that allows you to store and access your data with greater ease. It should be noted that Web 3.0 doesn’t yet fully exist in reality. Rather, it is in the process of being formed. It will allow you to store your data in a “pod” and have a distinct WebID that the Web will recognize when you log on, allowing you to access all of the data in your pod.
Then, of course, the question becomes, what is the difference between Web 3.0 and Web3? Many people don’t understand the difference and tend to conflate the two. Well, Web 3.0 refers to exactly what we just described – the most recent iteration of the Web as a whole. It is described as being “semantically” based, meaning that it relies on a framework to share data across networks.
Web3, on the other hand, is blockchain-based. What that means is that it relies directly on blockchain technology to carry out all of its functions. What will this involve in reality?
Features of Web3
First of all, there will be an increase in the use of cryptocurrencies both for strictly transactional and other associated purposes. Cryptos will increase in number (at the moment, Bitcoin and Ethereum seem to grab all the headlines) and usage. Gaming, for example, is seeing a rise in the use of crypto in players’ “buying” characters with which they hope to win games. Buidlbee discusses developments in blockchain-based gaming in regular updates. As characters advance through the ranks of these games, the players in turn make more money.
One of the mechanisms that will be utilized in Web3 is the use of non-fungible tokens (NFTs) to display content belonging to an individual. NFTs are digital identifiers that contain all of the necessary data to associate them with the individual using them. They are considered safe in that they cannot be changed, copied, or divided.
In using Web3, people will have their own online wallets. Each individual can also decide who he or she will share data with. As with all blockchain-based functions, Web3 will be fully decentralized, meaning it will not be owned by anyone in particular. If you have a Facebook account, for example, you can have your own login, page, etc., but Facebook is still considered the property of someone else (Meta). If the admins don’t like something you’ve posted, they have the right to remove it.
With Web3 this won’t be an issue. Those pieces of the system that are yours are yours only. And in performing blockchain operations, your identity is encrypted but not able to be stolen as the details are known only to you.
Web4?
These are just a few of the major features of Web3. There will surely be many more additions as it develops, and its technologies will become more and more applicable to different spheres of life. And will there someday be a Web4 (or a Web 4.0)? Quite likely. As developing versions of the Web are promising to utilize more and more advanced features with artificial intelligence, it could well go off in a completely new direction yet again. Only time will tell.
With a solid foundation in technology, backed by a BIT degree, Lucas Noah has carved a niche for himself in the world of content creation and digital storytelling. Currently lending his expertise to Creative Outrank LLC and Oceana Express LLC, Lucas has become a... Read more