#whatisweb3.0 #web3.0explained #web3.0simplified


Web 3.0
Web 3.0 represents the next iteration or phase of the evolution of the Web/Internet and could potentially be as disruptive and represent as big a paradigm shift as Web 2.0. Web 3.0 is built upon the core concepts of decentralization, openness, and greater user utility.
Web 3.0 can have applications in many areas like crypto, web development and can also be seen as blockchain.

How you have been seeing or hearing a lot about web.3.0 recently, and you are wondering to know
what is web 3.0, is it really the future of the internet, and will it really challenge the tech giants such as Facebook and Google?

We will discover what web 3.0 is and how it came to be and also what the future holds and, more importantly, how it's going to revolutionize the world that we live in.

The evolution of the web is often separated into three stages, web 1.0 web 2.0 and web 3.0 web.
Web 1.0 is characterized by web participants as consumers of content. And the creators were typically developers who built websites that were mostly static. Pages served up as text or images. The internet was set up this way from about 1991 to 2004, sites didn't have much interactivity. It was as if the web was basically read only web two refers to the current iteration of the modern web most of us are experiencing today and is characterized by web participants.
As creators of content is interactive and social, you don't have to be a developer to make content for the web.
As companies like Google, Facebook and Twitter began to develop web to software, to facilitate interactions between web users. They saw an opportunity to monetize their user bases through advertisements in the sale of personal data. Thus state of collection and targeted advertising have become a core part of the web to experience and how it's engineered to function. However, frustration towards some of these big tech companies has been mounting in the general public, as information has come out about exploitation of the user data they've been collecting inter web 3.0, you could think of web three in terms of participants as owners, because the most fundamental difference between web two and web three is de-centralization.
In web two, developers build applications that run on a single server where the data is owned and the app is operated by one central authority, in web three applications run on decentralized networks of many peer-to-peer servers and leverage a distributed ledger technology known as blockchain.
Essentially a decentralized database participants are able to host one of these peer-to-peer servers or nodes or create, govern, improve, and otherwise contribute to the network and be rewarded with cryptocurrency tokens. making them owners with a vested interest in the web who stand to directly benefit from its success in web, than a developer that might pay a cloud service provider like Amazon web services to host and provide access to their application on the web.
With web three, instead of going to Amazon, that money goes directly to network participants.
In web two companies might pay YouTube or Facebook to show their advertisements in a feed of targeted users. Once again, with web three, this payment goes directly back to the participants.
In other words, imagine earning revenue from the ads you watch online. Web three also introduces the opportunity for native payments through cryptocurrency tokens.
It's easy to integrate software wallets like Metamask into de-centralized applications or dApps, enabling anonymous and secure instant payments, even internationally without the user having to hand over sensitive personal data.

There are also projects in the works to apply the same principle to identity on the web tiny user's identity to a wallet address in a way that is seamlessly transferable across apps, rather than requiring email and password with authentication.
Additionally, tokenization allows for anyone to participate in building or investing in the software they use from the beginning. Many websites and software companies sell off percentages of their software company in exchange for venture capital in order to become successful, which binds them to the desires of their wealthy shareholders. As they grow a web three project might instead announce a token release with the percentage that aside for the early builders and a percentage for sale to the public people who believe in the project can buy in and even use their tokens to vote on changes to the project because all data recorded on the blockchain is immutable and transparent, everyone will be able to see exactly what happens with the funds.

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