What’s is web 3.0
Web3 is an idea for a new iteration of the World Wide Web based on blockchain technology, which incorporates concepts including decentralization and token-based economics. Some technologists and journalists have contrasted it with Web 2.0, wherein they say data and content are centralized in a small group of companies sometimes referred to as “Big Tech” The term was coined in 2014 by Ethereum co-founder Gavin Wood, and the idea gained interest in 2021 from cryptocurrency enthusiasts, large technology companies, and venture capital firms.
To understand Web 3, it makes sense to understand what came before. The first version of the Internet — known as Web 1 — arrived in the late 1990s and comprised a collection of links and homepages. Websites weren’t particularly interactive. You couldn’t do much apart from read things and publish basic content for others to read.
Web 2 came next. Some people call this the “read/write” version of the internet, in reference to a computer code that lets you both open and edit files rather than just view them.
web 1 (1985- 2005)— read(static web),
web 2 (2005 — present) — read/write (social web)
web 3 (present — future) — read/write/own(blockchain).
What can you do with web 3.0?
Technology Stack
- Protocol-extensible user-interface cradle (”browser”) — The top level of the stack, this includes the ability for a general user — not developer — to interact with one or more blockchains.
- Protocol-extensible developer APIs & languages — This is the layer of human-readable languages and libraries that allow developers to create programs at the proper level of abstraction
- Zero/low trust interaction protocols (Bitcoin, Ethereum, parachains) — A protocol describing how different nodes can interact with each other and trust computation and information coming from each of them. Most cryptocurrencies, such as Bitcoin and ZCash,
- Zero/low trust metaprotocols(Polkadot) — This is the foundation of the Web3 technology stack, consisting of how nodes communicate and how they can be programmed at the lowest level
The most important evolution enabled by Web3.0 is the minimisation of the trust required for coordination on a global scale
A real example of the paradigm shift is in the gaming industry. Gamers grumble endlessly about the bugs that developers leave in their favorite video game, or how the latest patch has upset the balance of their favorite weapon. With Web 3, gamers can invest in the game itself and vote on how things should be run.
Web 3 an upgrade or a downgrade it is coming and nothing you can do to stop it, adapt.
The internet
