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Web3, like NFT and Metaverse, is one of the buzzwords you hear all the time on the Internet. Web3 is commonly used to refer to all the various blockchain-related sectors such as NFT, DeFi, and crypto.
To understand what Web3 is, we first need to go back to the Internet’s humble beginnings: the beginning of Web1 and its progression to Web2.
Web 1.0 refers to the Internet era from 1994 to 2004. It is also commonly known as the “read-only” era, as the Internet at that time consisted of static websites owned by various companies. This was the first stage in the development of the World Wide Web.
If you weren’t in the 90’s, check out the most popular websites of the time. AOL, Netscape, and various other bulletin boards. The web design was very basic, the content was static rather than interactive and could not be shared. Consumers were also unable to create their own content. But that quickly changed.
Web 2.0 is known as the era of reading and writing and refers to the time from 2004 to the present. With the emergence of social media platforms such as Facebook, YouTube, and MySpace ( that? ), The Internet landscape has changed dramatically from a one-way highway to an interactive world of information exchange, creation, consumption and sharing. These platforms suddenly enabled user-to-user interaction, enabling the delivery of user-generated content and the rise of new online advertising revenue models.
Like many innovations, it had some drawbacks.Users could create content and use these platforms for free, but they could not own this content or make any profit from it monetization (such as company data that collects personal information and sells it to companies for marketing purposes). Not only do users have absolutely no control over their data, they must also comply with the terms of service of these platforms or they cannot be used.
Currently, we are in the Web2 era, with Web3 infrastructure being developed and already integrated into some online experiences. Simply put, Web 3.0 is now called the read-write era, driven by goals such as giving content ownership to creators and eliminating middlemen.
The premise of Web 3.0 is Ethereum co-founder Gavin Wood After the launch of Ethereum in 2014. According to him, the web as we know it requires too much trust in a few private companies and wants them to always have their users’ interests at heart.
That’s where blockchain technology comes in, and the core idea of web3, an economic mechanism for decentralization, native payments in cryptocurrencies, permissionless use, and no third parties. in 2021 Wired In an interview, Wood explained his vision for Web3:
We are still in the very early days of Web3, still evolving and defined, so no one can predict how it will unfold. What is certain is the heavy use of blockchain technology, decentralized applications and AI.
It has many advantages such as ownership of digital assets, resistance to censorship, interoperability with a single login address across platforms, etc. However, the high quality and reliable infrastructure required to do this It is not yet fully achieved as the structure is still being built. In other words, the accessibility and user experience of many web3 platforms are substandard and still depend on them. Centralized platforms such as Twitter, GitHub, and Discord.
You may be wondering who is building the vision for Web3 and who are the most famous companies today? There are thousands of innovative his Web3 companies, all of which focus on decentralization, creating a paradigm shift in the creator and consumer economy.
Below is a list of the top Web3 companies in this space today.
We’ve seen the web evolve from basic read-only content to a centralized internet era where big tech companies like Meta and Google provide interactive social web platforms, but instead these services are becoming We exchange personal data and information for use in the currently evolving Web3 era of decentralized Internet ecosystems and AI.
Learn more about NFTs and Web3 >> Ultimate NFT Guide
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*All investment/financial opinions expressed by NFT PLAZA are based on the personal research and experience of the site moderators and are intended for educational material only. , the product should be thoroughly investigated.
Ivelina is a content maestro at NFT Plazas. She has a knack for translating complex concepts into simple words.
