Humans could understand and rely on pieces of information presented to them by web applications, such as in the case of a blockchain. This was where the user’s basic information was captured and saved for future use. Internet applications could be read from and written on by users.
Jon Jaehnig is a freelance writer/editor interested in exponential technologies. Jon has a BS in Scientific and Technical Communication with a minor in Journalism from Michigan Technological University. For a deep dive into the hottest trends and insights relating to martech and marketing in the Asia Pacific region. Web 4.0 might introduce a seamlessness we don’t yet see with Web 3.0. It takes a lot to translate user requests digitally, whereas Web 4.0 could blur the gap between the computer and the mind.
Web3 is capable of leveraging the most powerful features of blockchain to secure data breaches and user privacy. Each asset, financial transaction, or message can be encrypted using cryptographic algorithms. Encryption is the process of taking a message and scrambling its contents so only certain people can look at your message. Web3 is going to change how your digital identity is created, authenticated, and linked to your online activity.
This is the biggest difference between the three web iterations. Proponents of Web 3.0 believe that decentralization is the key to the Web’s evolution. Originally Web 1.0 was open source meaning anyone with the skills to build a web page could just do it. The optimal phrase there is “with the skills” coding is not easy and not many people knew how to do it. The concept of the World Wide Web, a global “network of networks,” stretches back to the 1930s. It was meant to be a network that could store and share information at multiple different points all over the world.
This centralization and re-purposing of user information is a major driving force behind Web3. A primary goal of Web3 is to return control of this data back to the individual rather than large organizations. Forget the fact that computers weren’t ubiquitous as they are now.
The internet is vast, constantly expanding as time moves forward. You may know all the basics about the internet, considering how widespread the use is, but do you know that there are different versions of the web out there? The internet has broadened the horizons over the decades and has come out with various versions, each better than the last. It functions similarly to a blockchain, which is why some people use them interchangeably. In the grand scheme of things, no one really owns anything on the internet, except maybe the ISPs themselves.
Difference Between Web 1.0, Web 2.0, and Web 3.0 –
The idea is that Web 3.0 will use artificial intelligence and machine learning to create a fully autonomous, intelligent internet that understands content the way we do. So, it will analyze and comprehend words instead of numbers like the current iteration. Web3 is not just something that is on the horizon, a concept only.
Facebook, Youtube and Twitter are some portals that have received a lot of criticism in recent years for their biased decisions. Web hosting and domain registration services are centralized in a few companies. This brings the risk of censorship and security issues from the point of view of hackers and malicious actors. In the 1990s no one could have predicted how the Internet would unfold in the future. Anyone over 30 will still remember the time when the only way to connect to the web was over a telephone line. Making a video call with a friend somewhere else in the world while playing a game in real time seemed impossible.
Web3 encompasses an extensive range of sectors, industries, and applications. The answer for most people would be no, and if you do, that’s great. So, in summary, our platform allows people to trade into neighborhoods and locations such as Manhattan, Malibu, and Austin, to name just a few. Before we jump into Web2 Vs. Web3, it’s important we talk about the very beginning.
Since the implementation of the internet in 1986, two versions of the WWW have been available to the general public. The first was Web1, the second was Web2, and the future is Web3. They come in sequences, and each version has lasted at least a decade before a newer, broader version takes over. One thing it does well is bring like-minded, tech savvy people together.
Web2 is more dynamic, and it transformed how we deliver information by introducing blogs, wikis, and social media platforms. Unlike what we see today, Web1.0 web pages are joined using hyperlinks with no additional visuals, interactivity, text forms, and control. Web1.0 had very few content creators and lots of content consumers. These readers had no option of interacting with the sites, and there were lots of personal sites.
Subsequent to this, Web3 authentication systems like Web3 ID let users or owners of the IDs to control the data linked to their digital IDs. Web3 is going to be powered by blockchain and tokenized assets . Decentralized technologies will enable peer-to-peer interactions between individuals, witnessed and verified by a decentralized network of nodes. Since Web3 is based on blockchain technology, we will need tokens to facilitate transactions between 2 users. For any type of content to have value, they will be needed to convert into NFTs and then transacted for a price agreed between the buyer and seller.
For the network to grow to the heights, it would need for Web3 to be viable, the networks would need to become centralized. That would defeat the entire purpose of Web3 and ensure that the power of the web stayed in the hands of those who could throw the most money at it. Some opponents think that instead of placing power into the hands of users it would simply shift power from one center to another. Venture capital firms like Andreessen Horowitz are huge proponents of Web3 technologies and have invested millions in Web3 projects.
Web 3.0 is built upon the core concepts of decentralization, openness, and greater user utility. One of the innovations of decentralized money has been the creation of digital scarcity. For example, the maximum amount of bitcoins that can be in circulation is finite .
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Marlinspike also remarked that the new web resembles the old web. Some Web 2.0 companies, including Reddit and Discord, have explored incorporating Web3 technologies into their platforms. On November 8, 2021, CEO Jason Citron tweeted a screenshot suggesting Discord might be exploring integrating cryptocurrency wallets into their platform. Two days later, and after heavy user backlash, Discord announced they had no plans to integrate such technologies and that it was an internal-only concept that had been developed in a company-wide hackathon.
There’s speculation about what will drive change, such as cryptocurrencies and decentralised technology to store user data. Online participation will be a deciding factor in the future of the Web – how people want to use it, what people share, etc. It’s clear that Web3 will bring a greater sense of influence from the everyday citizen online which will in turn shape our society, through sharing of opinions and interests. Information became more targeted than Web1, with users being able to gain targeted information and results rather than trailing through endless content. This is referred to as non-linear information because it lacked restriction.
Web2: Read and Write (The Web of Today)
Web3 is still in its infancy stage, and it will make the internet more integrated into our daily lives. We can also see that the web2 web3 difference comes to who controls or owns data and content. Web3 is an advanced version of Web2, and it uses new technologies like AI to know content semantics on the web. Artificial Intelligence makes it easier for users to find, merge and share information easily as machines can understand and interpret data like humans. We have moved from viewing just static web pages in the 90s to creating social media, and we are currently experiencing another paradigm shift known as Web3.
Dorsey opined that Web3 will not democratize the internet, but it will shift power from players like Facebook to venture capital funds like Andreessen Horowitz. Seeing what we have already created, it is clear at this point that it is the Internet’s future. Your Web3 ID or DID doesn’t contain any wallet information and your wallet only stores the public keys of your Web3 ID and nothing else. This disconnect between the two helps verifiers to verify your private data with your consent. You will only need to scan a QR code on the login screen using your Wallet app and that’s it!