Technology: Web 3: The New Bus Stop of The Internet

 The relationship between humans and the internet started not long ago, but its impact is considered the most powerful in every aspect of human life. It has redefined cultural values, modified social interactions, and opened the human mind to a universe of potential.

The internet did not start big. Instead, it started as a means of communication between computers. Before that, computers had their separate space but couldn’t interact with each other. However, as technology progressed, it became possible for computers to interact, and this was the first version of the internet, which was named Web 1.0. Berners-Lee pioneered this version as he was able to write three basic technologies that became the foundation of the version – HTML, URL/URI, and HTTP. However, web 1 was static and limited in scope and function. For example, you could only view web pages and not interact with them.  

The early 2000s ushered in Web 2.0, the current and commonest version used around the world. This version allows interaction and communication through the internet, paving the way for social media, blogging, vlogging, etc. This was possible due to technologies like Ajax, Python, and CSS.  

In recent times, however, Web 2.0 has shown to have a limiting effect on creativity and communication, hence, the need for a new version, Web 3.0. Web 3.0 is a term used to describe the trustless and permissionless internet. It is trustless because it doesn’t require an intermediary; permissionless because it is decentralized. This version works on a consensus mechanism and peer-to-peer network. Although this version is new, it will redefine every sector of the economy, and it will allow artificial intelligence to move to a new level. In addition, it will make communication even more sophisticated and complicated and reduce the rate of cybercrime.

The following are differences between Web 2.0 and Web 3.0

CENTRALITY

Companies and government agencies govern Web 2 activities. They serve as a trustworthy intermediary to authorize transactions and other activities. However, Web 3 is decentralized, and there is no need for intermediaries. It relies on Blockchain technology, so transactions will be executed by the network, provided stated conditions are met.

CURRENCY

The Web 2 currency is the Fiat currency, a digital form of currency owned by countries and regions. Web 3 uses Cryptocurrency, a digital currency, but it is encrypted and verified using cryptography.

APPLICATIONS

Web 2 applications allow two-way interactions such as blogging, chatting, etc. However, Web 3 apps are capable of functions involving Artificial Intelligence and Machine Language. 

DATABASE

Data in Web 2 is owned and controlled by the network or the intermediary, whereas, in Web 3, data is owned by individuals and can be shared at their discretion. 

FOCUS

Web 2 enables interactions between users which is why it ushered in the era of social media, of which Twitter and Meta are examples. However, Web 3 allows for a 3-D interaction which is why we have the era of the metaverse: augmented and virtual reality will become common and homely with time.

Web 3 has a lot of potential yet untapped and pitfalls yet unseen. However, it has come to stay, and its importance and impact will be significant before this decade.