WEB 3.0 OR WEB3 IN A LAYMAN TERM AND WHY EVERYONE NEEDS TO KNOW WHAT IT MEANS.
First and foremost I will like to welcome everyone reading this article to the era of Web 3, the 3rd phase and so far the best phase of the internet 👏🏽!
web 3.0 or in short web3 also known as the decentralised web, is the third version of the Internet, which is an improvement over the current Web 2.0 Internet.
Before explaining Web 3.0, we need to understand how the Internet has evolved since the 1990s.
- Web 1.0: read
- Web 2.0: read / write / share
- Web 3.0: read / write / own
Web 1.0 (1991 to 2004) was when people went on the Internet to read information and look at pictures, such as Wikipedia. You go online by dialling in with a landline telephone, and there was no way of sharing contents apart from email.
Blogs, journals, and chat forums were the village halls of the early Internet.
The seeds of web empires began to bloom during this era, including Yahoo, Amazon, Apple, Facebook (Meta), Microsoft, Google and making them billionaires .
The Web 1.0 was the read-only Internet.
Web 2.0 (2004 — present) is when the Internet became social and interactive. With the advent of the iPhone in 2007, Blackberry, Android phone, GSM, we moved from going online a few hours a day to the state of staying always-online thereby making the Internet available in everyone’s palm or pocket.
Unlike in the 1990s, where you passively read websites in a cyber cafe, on a personal computer, you could now share content, talk to friends, and interact with strangers on smartphone apps.
But that’s where many of today’s problems started as Meta (formerly Facebook), Google, and Twitter have become unaccountable and monopolised selling your data, creating privacy issues, disregarding your Internet privacy, and controlling your ability to make money online.
Web 3.0 looks to give power back to users!
Web 3.0 offers new financial opportunities to the internet users.
In the Internet’s third phase, Web 3.0 will give you digital property rights in a secure marketplace. So instead of renting websites and social media pages from big tech companies, you can own assets on blockchain networks like Ethereum or Solana.
Just like companies rushed to get online decades ago, future businesses will issue NFTs to customers. Some may sell goods and services in a virtual reality metaverse. As an entrepreneur, you might be wondering how a decentralised Internet will affect your livelihood.
Web3 should return data sovereignty and ownership rights to the user — that’s at least the idea.
Creators and businesses are building decentralised apps (dApps) on peer-to-peer blockchain networks, selling items to their followers, including exclusive access to virtual goods like NFTs.
The Internet is about to enter its third phase, and the earlier people understand this, especially creators and businesses trying to make money, the more successful you’re likely to be.
Imagine a new type of internet that not only accurately interprets what you input, but actually understands everything you convey, whether through text, voice or other media, one where all content you consume is more tailored to you than ever before.
It is worthy to note that Web 3.0 is being built on blockchain technology.
I will explain the Words dApps, DAO, NFT, smart contracts, Solana, metaverse, etc on my weekly learning articles so stay in touch with me by following me, connecting with me via twitter, linkedin, instagram, telegram, facebook (meta) & youtube.