The beginner's guide to Web3- the Internet of the future.
7 min read
The statement that "Web3 is the future of the internet" is becoming more popular than ever, especially as more investors and developers concentrate their efforts to Web3, but what is Web3?
What is Web3?
The term "Web3", also known as "Web3.0", was coined by the founder of Polkadot and co-founder of Ethereum in 2014, six years after the first application of blockchain (Bitcoin) was developed. Built by a certain Gavin Wood.
Web3.0 is a decentralized version of the World Wide Web based on blockchain technology. It's a way of redistributing internet ownership. This means you have full control over your data and money, and don't have to worry about your privacy when using the internet.
According to Josh Neuroth, "The whole point of web3 is to move responsibility and decision-making from small groups into the hands of communities."
It is very important to note that Web 3.0 is still in its infancy. Web3 is not only based on blockchain, which most people pay attention to, but also decentralized machine learning and artificial intelligence algorithms. So anyone can access the data and train advanced AI.
Big companies like Google, Facebook, and Microsoft are collecting ernomous data, which is used to train AI in their commercialized products. This creates an unfair advantage over smaller startups.
Evolution of World Wide Web
The existence of Web 3.0 strongly indicates the existence of other versions of the Web such as 1.0 and 2.0.
This is the first version of the web created by Tim Berner Lee in 1989. This is the basic form of one-way communication featuring static content. It consisted of web pages connected by hyperlinks (HTML elements that refer to other parts of a document or to other documents).
Web 1.0 was static and lacked the visual elements and controls that we see and interact with when using the Internet today. A perfect example of Web 1.0 is the first website dedicated to the World Wide Web project (accessible at info.cern.ch/hypertext/WWW/TheProject.html).
Web 2.0 (2005 - Present)
The second generation of the Web, known as Web2.0, emphasizes interaction and collaboration. Compared to Web1, Web2 is a read/write version of the Internet. Users of Web2 can obtain information as well as submit information back to the server for more precise results.
Web2 has "Participation and Contribution" as its main theme. This version of the Internet allows for a variety of interactions and types of communication, including Social Media, blogging, tagging, podcasts, and the creation of content (videos, audio, and texts, for example).
Web3.0 (Present - Future)
Web 3.0 is still in its early stage, but some essential elements are available. This version of the web supports decentralized platforms as opposed to centralized platforms such as Google, Meta Inc and Twitter. As mentioned earlier, Web3 is not just a decentralized web, but a type of open, autonomous, and intelligent web.
Similarities Between Web1.0, Web2.0 & Web3.0
As with anything that has evolved, the various versions of the World Wide Web have similarities.
They all rely on the internet to get their jobs done
They all allow users to read information.
A common feature of his three versions of the web is the ability to "read".
Web1 provides read-only functionality. Web2 provides "Read&Write" functionality. Web3 provides read, write, and proprietary functionality.
- Web3 will likely require the use of HTML as one of the front-end technologies. In this case, Web1, Web2, and Web3 share the same technology, but different versions.
Differences Between Web1.0, Web2.0 & Web3.0
Even though there exist similarities between the three iterations of the Web, there are still some notable differences.
- Read and Write Functionalities:
Web1 provided the "Read" only feature, Web2 provides the "Read&Write" feature, Web3 provides the "Read, Write,&Own" feature.
In Web1, information sharing was the goal. In Web2, interaction is/was the goal. While in Web3, Immersion is the goal.
Web1 supported only static web pages. Web2 introduced dynamic web applications. Web3 introduces intelligent and decentralized web-based applications.
- Information Tools
Web1 had Britannica Online. Web2 has Wikipedia. Web3 will have the Semantic Web.
- Tech Stack
Advantages of Web3
- Data Security
With Web3, every user owns their data/information completely and gives it only when required. Tech giants such as Google and Meta Inc will no longer store users' data on their servers. It also means that these companies cannot sell your data, such as your interests, age, etc. to advertisers and marketers.
Also, due to its immutable nature, the data can only be injected into the network and cannot be changed unless malicious activity is detected. This prevents user data from being stolen or copied.
Web3 enables and supports privacy through its decentralized nature. User can control her identity and personal information online. Web3 users can control what information they publish and who can access it.
- Accurate Information linking
Web3 works by combining blockchain technology and artificial intelligence technology. When a user searches for information, the AI-powered platform returns the most relevant web pages as results. This results in a more efficient information retrieval system.
- 100% Availability
Users don't have to worry about certain service providers or servers going offline as the necessary information is stored in the blockchain nodes. Anyone can access the information they need at any time.
With the advent of the Internet of Things (IoT), internet-connected devices are no longer limited to smartphones and PCs. Smartwatches, cars, homes and more are now connected to the internet. This means Web3 users can connect to each other from different devices in different locations. This feature is already available in his Web2, but the feature will be more popular in Web3.
Disadvantages of Web3
- Loss of revenue
It's obvious that social networking applications sell user data to marketers (for advertising purposes) to make more money, and once Web3 is fully developed, this will be completely impossible.
- Difficulty in Regulation
Anyone, anywhere can choose to post unverified and misleading information. It is difficult for governments to control such behaviour as there is no centralized system to block or punish such users. It has been assumed that AI will overtake humans and rule the world. Part of Web3 is powered by AI, so Web3 could be just one way to make this happen. Superintelligent AI will have an intelligence far beyond that of the brightest and most talented humans.
- Computing power of devices
Current smart devices may not be able to support these features. Features like 3D graphics, AI support, and virtual reality aren't readily available on today's devices. Users may need to upgrade to devices with advanced features and high processing power.
Job Opportunities in Web3
The fact that Web3 is still new and evolving cannot be overemphasized. As a result, we are unable to provide a comprehensive list of the vacancies available on Web3 Space. Apart from the usual traditional jobs available in today's market, there are some job opportunities that are relatively native to the Web 3.0 space.
- Blockchain/Solidity Software developer
Blockchain software developers build applications on existing blockchain platforms. They are responsible for front-end and back-end development, design and maintenance. A Solidity developer is a blockchain developer who develops applications on the Ethereum Virtual Machine (EVM) or any EVM-compatible blockchain.
Since Web3 is blockchain-based, there is a high demand for programmers who know how different blockchain platforms work. These programmers are responsible for coding multiple parts of the Web3 application.
- 3D Graphics designer
Three-dimensional (3D) design (don't confuse this with the metaverse) is heavily used in Web3. 3D design makes websites and applications more immersive and interactive in the Web3 space, favouring 3D graphic designers.
- Community Manager
As Web3 evolves, the various companies in this space will need to educate and engage users about the services they offer. Community managers build and maintain a brand's community both online and offline. The job requires engaging audiences on social media platforms and handling communications with users and community members. Community manager jobs are very common in Crypto and NFT projects.
The Web3 space is already here and will continue to evolve over the next few years. Web3 is truly the future of the Internet.
Feel free to write your suggestions in the comment box.
Thank you for reading.