What is Web3: Solution or Part of the Problem?

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A few days ago, I came across the word web3. As a layman, my understanding of anything with the prefix web means a website.

However, when asked a friend he simply replied “Internet on steroids”. The answer was vague but it made me more curious. In the next few days, I took a deep dive into the fascinating world of web3.0 and I can’t stop thinking about the future.

So what exactly is web3.0? Is it just another fancy name for the internet or is it a game changer as claimed by many? Keep reading to find out.

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Web3.0 — The Story of Evolution

Web3 or web3.0 is the third generation of the internet. Now, before you confuse the internet with an internet connection, let us look at the difference.

An ISP (internet service provider) offers an internet connection and it ensures you can easily stay connected with the world. Cox Internet is a good example of an ISP. They provide reliable customer service and this is from a personal experience. Also, there is a dedicated helpline for Spanish-speaking customers available 24/7 at Cox servicio al cliente.

Internet on the other hand is the overall experience. The websites, apps, social media sites, blockchain technology (digital ledger), and the data that is available are all part of it.

The third generation of the internet (web3.0) is much better, safer, and more user-centric. You might be thinking, if this is the third generation, there must be first and second generation as well.

Well, you are right. There are two prior generations of the internet.

So, before you learn about web3.0, you need to look at the prior versions of the internet i.e. web1.0 and web2.0.

Here is a quick rundown of three generations of the internet:

Web1.0

Web1.0, aka the first generation of the internet, are early days of the web. Plain text-based websites; no graphics, no interactive sites, and a focus on the text were some of the noteworthy features.

Even today, if you look at the websites of the founding fathers of programming languages you will come across barebones webpages with plain text. The inspiration for Web 1.0 was to make information accessible for all, so it was just like a textbook but online.

One of my favorite websites that can help you visualize web1.0 is an introductory website of Bjarne Stroustrup (father of C++).

The only issue is that in older websites, interactive buttons, internal links, and user experience were even worse.

Web2.0

The world of Web 2.0 started in the early 2000s. Web 2.0 was the start of a two-way flow of information, user experience, and online interaction. The new dawn of tech, this era was all about centralized data. Billion-dollar companies today i.e. Google, Facebook, Spotify, YouTube, etc. are a byproduct of the web 2.0 boom. All these platforms are built on Web 2.0 principles.

These companies house their data in remote data centers. The company storing and extracting the data is in full control while users cannot change anything. There is a high chance of data breaches, identity theft, cyber-crimes etc.

Web 2.0 started a new war where everyone was hungry for attention. Business sites started competing on Google for ranking and the war of followers, likes and shares broke on social media sites.

Here is a simple example of web2.0

While Web 2.0 puts customer experience at the center of the web, it does not address privacy and data issues. Most online companies today scrap user data, build algorithms based on the data, and manipulate user behavior online.

This is where Web 3.0 changes everything.

Web3.0

If you have heard of “third time is a charm”, web3.0 is proof of that. Web 3.0 addresses all the issues faced by users in Web 2.0.

For instance, one of the biggest issues in Web 2.0 is data scrapping and data breaches. Web 3.0 addresses this issue by offering full control over data to the users. Similarly, Web 3.0 also addressed issues like a big brand monopoly by decentralizing the system. Moreover, it also offered a solution to data safety and security by introducing smart contracts (self-executing digital contracts on blockchain).

Most people limit the importance of Web 3.0 to just cryptocurrency. However, Web 3.0 is much more than blockchain or any decentralized digital currency.

One of my favorite examples of Web 3.0 is Siri (Apple Assistant). Siri does not just offer basic information but also offers control over the surroundings (device control, automated appliances, etc.) via voice command.

Here is a quick overview of all three generations of the Internet and the solutions they offer:

Web1.0Web2.0Web3.0Characterized byText-based static pages very limited or no interaction at allText-based informational content.Highly interactive sitesDynamic content that offered value beyond textUser-generated content social networking sites i.e. Facebook DecentralizationAI (artificial intelligence)Blockchain Immersive user experience i.e. VRSolution offered Easy access to information online Simple, readable content Online services i.e. emailUser-centered content focus on user experienceenhanced collaboration Easy two-way communication via platforms.Focus on user privacyData security The user gets more controltransparency, New financial and economic models.

Is Web 3.0 the Solution Of Every Online Problem?

In web3.0 there are no data centers, no company or individual holds control and everything is decentralized. Instead, everyone is equally responsible for data storage.

Unlike Web 2.0, where tech companies store data and sell it to other companies, web 3.0 does not offer power to just one party. Data is stored by using blockchain technology. As per this technology, data is housed on nodes (a device that is connected to the network and runs on blockchain protocols).

Each node is a device controlled by the user and is connected to a network. So, every time there is a transaction, the data is updated simultaneously on all systems (nodes) of the users. This is reduces the chance of discrepancy and fraud.

Web3.0 addresses one of the biggest issues in Web 2.0 — the privacy breach. Eventually, it also helps in eliminating cybercrimes and makes it easier for the authorities to control everything online.

However, not everything is rosy in the web3.0 world. Even with strict security protocols, Web 3.0 does not offer 100% security. There are still loopholes in the system that people can exploit. Moreover, it just addresses some issues in Web 2.0 while other issues remain unaddressed.

With advanced knowledge of Web 3.0 and community power, individuals can leverage the third-generation internet for various purposes.

Key Takeaways

Web1.0

More static with bulky text and no focus on user experience or interaction

Web2.0

More focus on user experience, user-generated content, dynamic websites, and interaction

Web3.0

More focus on safety, security, data privacy, and decentralization of everything

Web 3.0 is the future of the internet and it is going to be life changing only when used well. However, users hold power over everything. With mass collaboration, data in Web 3.0 will not be safe.

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this blog was originally published on https://thedatascientist.com/