Discovering Web3

Discovering Web 3 

4 December 2022

Category

Web3 is the modern term to indicate a new internet’s concept, still in development. 

This term was create in 2014 by Gaving Wood, Ethereum co-creator. 

“We engineer the system to mathematically enforce our prior assumptions, since no government or organisation can reasonably be trusted”, said Wood.

It’s consecutive to Web1 and Web2.

Web3 Technology

Web3 was developed to give users more control over their personal data. Web3’s technology is focus on internet decentralization. 

This update give to users the possibility to create and maintained their creations. 

Web3 will be make with blockchain technology: this new update offer the possibility to do not permit that all informations would finish into tech companies like Google, Amazon, etc. 

User informations will be available on the blockchain’s register that is public. 

Web3 will be build to equalize internet and make sure that everyone share and receive informations not control by top monopolies. 

This new version will permit users to create sure products and services online and make money. 

Josh Neuroth, head of product at Ankr, declared “The whole point of web3 is getting ownership and decision-making away from a small group of people, into the hands of the community. It's very democratic”. 

How Web3 works?

Data ownership. When users browse on Youtube, Google, Facebook…their data are monetized by these societies. In Web3, will be a crypto wallet in which personal data never be expand to third parties.

Only users can decide how to enjoy their data!

Privacy. Also privacy will be into a wallet own only by users. Decentralized systems are made to resist to hackers’ attacks: will be very difficult enter into people’s wallet. 

Freedom. Also from financial point users will be free. In fact, in Web3, every users are stakeholders. Web 3 will encourage also DeFi and payments with cryptocurrencies. 

Honesty. All users will be part of a decision-making system, payments will be traceable and no one can modify database after transactions. 

Web1 (1990-2004)

1989 , Tim Barners-Lee created the World Wide Web protocol. 

Web1 was under top companies’ control and users can’t had mutual interactions. 

Web2 (2004-current)

The previous internet’s version was focused on a read-only version. This update, added the read-write version. Top societies give content to users and encourage interactions. 

Companies take under control traffic on web and start to earn. 

With Web2 was born the advertising model obviously monetizing by top companies. 

In this version, users can’t have any control or possibility to own something. 

Basically, Web3 will be a secure and free system that will protect user in matters of privacy, data retention and gains.

SOURCE: BusinessInsider

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