Web 3 simplified

Ohazulike Stanley
Coinmonks
3 min readJul 29, 2022

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This is currently one of the most sought after words in the tech field. Web3.0 is the third iteration of the internet after web 2.0. This internet version entrust the right of ownership of user data, contents and digital asset to its users (you and I), unlike web2.0 which has a centralized system, entrusting right to ownership of users data and content to government or big tech corporation such as Facebook, twitter, YouTube etc.

How it began

March 1989, a former employee of CERN (the European organization for nuclear research), a British scientist Tim Bernes-lee submitted a proposal, for an effective/enhance CERN communication system, but Tim would later realize that this idea could be implemented worldwide and not just for CERN alone. In 1990, he and a Belgium computer scientist Robert cailliau proposed using a hypertext “to link and access information of various kinds as a web of nodes in which the user can browse at will”. This proposal led to the birth of the World Wide Web after it has been designed and tested.

Web1 — — — read — only content

Web1 is the earliest form of the internet, existed from 1989 to 2005.It’s a non-interactive internet, contains information that can only be read by its users, has no mechanism for comments, feedback, suggestions, reply or reactions. This internet was majorly used by corporations and big businesses to present products (like a catalogue or brochure) to their potential customers anywhere in the world.Some examples of web 1.0 sites include geocites page, craigslist and Slashdot

Core features of web 1.0

· Web 1.0 internet page are static

· often referred to as read — only content, provides users with zero interaction and majorly used to gain access to information

· This internet version can be accessed by anyone at anytime and anywhere in the world

· contains linear information

· it is not possible to change information on web 1.0

· HTML, HTTP and url are the core web protocols used in web1

Web 2.0 — — user generated content

Unlike web 1, where users only read content on the internet. This internet version allows users to read, write, share thoughts, opinions and also make comment and suggestion on the internet

Web 2.0 was released in 2004, it saw the birth and growth of large social media platforms which includes facebook, Instagram, twitter, YouTube etc.it provides the opportunity for you and me to become content creators and generators.

From the above, we can safely conclude that web 2.0 has a lot of advantages over web 1, however one of its biggest challenge is centralization. Cloud services, application deliveries and platforms are governed by centralized authorities, such as facebook, youtube etc. this centralized nature of web 2, creates room for serious security threat, access to users private information and data gathering for malicious purpose.

Web 3.0

Unlike web 2.0 which presents users the ability to read and write, web3.0 also provides ownership of digital assets and content in the internet. This internet version will help to address security threat, data gathering and privacy issues associated with web2.0 through decentralized ecosystem based on blockchain technology.

Features of web3.0

· Decentralization

This ushers in a complete departure from the centralized structure of the internet associated with web 2, where users relies on tech giants like facebook, google or apple to mediate the internet but instead, individuals (you and me), owns and governs sections of the internet.

· Trustless

The word trustless implies you don’t need to depend or rely on any intermediary, tech giants or big corporations, in other to use the internet or for a marketplace to function, rather you, I and other participants can directly interact with the network

· Permisionless

Participation is open to everyone and does not require authorization from any authority or central governing body

· Use of cryptocurrency as a mode of payment other than Fiat used in web2.0

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Ohazulike Stanley
Coinmonks

I am a Nigerian who is fascinated about cryptocurrency and blockchain technology