The internet has come a long way since its creation in 1983. Starting with the static web pages of Web1 to the dynamic websites of Web2 that permitted interaction, the internet has been in constant evolution. And now, with the emergence of Web3, we are witnessing a new era of the internet that has the potential to change the way we interact with technology and each other.
So... What exactly is Web3?
Web3 is a term used to describe the next generation of the internet, which is built on blockchain technology. Unlike Web1 and Web2, which were primarily focused on content delivery and user interaction, Web3 is about creating decentralized applications that enable trust and security without the need for intermediaries. This evolution can be seen as something like this:
Why is Web3 so revolutionary?
Web3 has the potential to disrupt many industries, from finance to healthcare and logistics. By leveraging blockchain technology, Web3 creates a more transparent, secure, and efficient ecosystem that is not controlled by any central authority.
Examples of this can be seen in the following image, where you can see the Web3 alternatives for the most common Web2 platforms used today:
A comparison can be made between Chrome and Brave, where Chrome shows you ads and you need to pay for an ad-blocker to remove them, whereas Brave does not show you ads and pays you in case you enable them. It also enables new business models, such as decentralized finance (DeFi), where users can transact directly with each other without the need for banks or other intermediaries.