Introduction to Web 3.0

What is Web 3.0?

Web 3.0 is the web of the future that will be characterized by decentralized, peer-to-peer technologies.

The first generation of the web was based on the HTTP protocol, which allowed users to view static pages hosted on centralized servers. The second generation was the advent of dynamic web content and the rise of search engines, which allowed users to find information hosted on centralized servers. The third generation of the web, which is currently being built, will allow users to store and transfer value on decentralized networks.

If we assume that the WWW has revolutionized information and Web2 revolutionizes interactions, Web3 has the potential to revolutionize agreements and value exchange. It changes the data structures in the backend of the Internet, introducing a universal state layer by incentivizing network actors with a token.

• Web 1.0 - transformed information
• Web 2.0 - transformed interactions
• Web 3.0 - transforming transactions and exchange of value

What are the benefits of Web 3.0?

1. Decentralized applications built on the blockchain provide several benefits over those developed on centralized servers.
2. Decentralized applications are censorship-resistant. Unlike websites and apps hosted on centralized servers, this means that decentralized applications cannot be shut down by governments or other authorities.
3. Decentralized applications cannot be hacked. Since there is no centralized server, there is no single point of failure for a decentralized application.
4. Decentralized applications are tamper-proof. The decentralized nature of blockchain technology ensures that no party can change the transactions processed on the blockchain without altering all subsequent blocks, which is extremely unlikely.
5. Decentralized applications are more transparent than their centralized counterparts. Users can access the source code of decentralized applications, which can be inspected for any errors or vulnerabilities.
6. Decentralized applications are more resistant to censorship than centralized applications. Since they are decentralized, applications can be accessed using any device connected to the internet.

Why is Web 3 much talked about now?

The erosion of institutional trust is a phenomenon that is affecting most of the world. The common sentiment is that people don’t trust their governments and financial institutions anymore. Our society is in the midst of an identity crisis. The erosion of institutional trust is a phenomenon that is affecting most of these adoptions.

When are ordinary internet users going to move to Web 3.0 applications?

The biggest barrier to the adoption of decentralized applications is the user experience. This is a major challenge for developers and entrepreneurs in the space. UX needs to be drastically improved for users to migrate from centralized services to decentralized applications. This is a point of concern for the Web 3.0 community. Developers and entrepreneurs are working tirelessly to make Web 3.0 applications easy to use. But, for this migration to occur, the user experience must drastically improve. Web 2.0 applications like Facebook and YouTube are very popular. We can already see that some people are moving from YouTube to DTube, from Twitter to Mastodon. Probably Telegram for instant messaging. Social apps would drive adoption to wider population. They won’t move as a mass, but as a lot of individuals, from different countries, from different walks of life, from different ages, and from different genders. I would say that in a year or two, a lot of people will be using decentralized applications, but most of the internet will still be using Google and Facebook. It will take a while for this to truly take off, but the internet will be much more decentralized in the long run.