What is Web3? Guide in simple terms

What is Web3? Guide in simple terms

What is Web3.0? Guide in simple terms



What is Web3.0? Guide in simple terms


What is Web3.0: Web3 is the idea of a new, third generation of the Internet that is decentralized, uses the blockchain, and operates on a token economy. It contrasts with the World Wide Web Web2, which runs on centralized systems for user social interaction.


Simply put, Web3 is an Internet where user data is stored not on the side of large corporations such as Google, Amazon, Facebook, and Apple, but in decentralized databases.


Because of the underlying algorithms and protocols, Web3 will allow the development of platforms that no one can control but that everyone can rely on. Modern technologies like blockchain, artificial intelligence, machine learning, and big data are said to be used to accomplish this. Tokens and cryptocurrencies that are not a part of established financial institutions should serve as the fuel for the third-generation Internet economy.


Since the idea is still in its early stages of development, it is impossible to define and comprehend all the fundamentals of Web3 operation.


Usage examples for "Secret"


“Cryptocurrencies and blockchain are part of Web3. It also covers smart contracts, decentralized hardware infrastructure (video, storage), NFTs, Defi, the metaverse, and DAOs (Decentralized Autonomous Organizations). And, according to the experts interviewed by The Secret, the entire Web3 is attractive for startups .”

Naturally, not all companies that are launching initial coin offerings one after another are deserving of attention. However, a number of them have the ability to dramatically change the current environment. Blockchain has been dubbed Web3's pinnacle. And I don't only think it's a lovely stamp.


Mistakes in use


Initially, the term Web3 came from Web 3.0, a concept for the development of Internet technologies, which was formulated by Jason Calacanis as a continuation of Tim O'Reilly's Web 2.0 concept. It is based on the concept of the semantic web - a global public information model, the data is presented in a form suitable for machine processing. 


Thanks to this, the consumption of information on the Internet is moving from the “text for a person” model to the “text for a machine” model. In Web 3.0, computer systems can receive data from the Internet, analyze them and issue logical conclusions. At the same time, the Semantic Web works in parallel with and based on the conventional World Wide Web.



What is Web3.0? Guide in simple terms


The term Web 3.0 is used as a synonym for Web3, but, depending on the context, it can be either a vision of the entire third-generation Internet or a particular case of one of the technologies that can form its basis.


Opinion


In the Web 2 age, once our data is online, we no longer have control over it. For example, you can cancel a transaction if it exceeds the limit or you can be blocked if the content is improper. We upload all of our documents and data to the servers at our own risk and peril, and as soon as they are done, they begin to belong to other companies, said crypto investor and founder of the Cryptobaron community Alexey Brasov. 


A window of opportunity for achieving some kind of virtual security and protecting your data looks to have opened up with the arrival of Web3. This is an endeavor to establish a new society in which people and the financial system interact.



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