Web 3.0 Is The Future: How Will It Be Different From Web 2.0?
…the internet for everyone that belongs to no one.
Introduction
"Pull-to-refresh", "Pull-to-refresh", "Pull-to-refresh". This is what you do on your social networks when you’ve exhausted your feed. You pull to get new feeds. The Pull-to-refresh feature is one of the dynamism web 2.0 brought in, outpacing web 1.0. The like button, the love, haha reactions, and the comment section where you get to share your opinion on articles or posts, did not exist in 1989 when we had web 1.0. The world wide web has come thus far since web 1.0 in 1989 till its gradual death and the emergence of web 2.0 in 2005. Web 3.0 is underway. Big corporations are positioning competitively for this opportunity. At the core of Web 3.0 are automation, artificial intelligence, machine learning, and blockchain technology which is reputable for its transparency, security, and immutability. In this article, I will discuss why I think Web3 is the future and also examine what distinguishes web3 from Web2.
Road to Web 3.0
Web 1.0 existed between 1989-2005. People were amazed at the opportunity web 1.0 afforded them; to search and surf text-based and static websites. These they did without the help of an algorithm to sift through web pages and suggest relevant content. All they could do was search and read information online. Only a few were in the business of creating content. There was nothing like comment section, likes, views, and so many other features as we have them today on our social media, websites, and blogs. What about finance? There was nothing like online payment, cross-border payment wasn't possible with the use of a card as we have it. Web 1.0 can be referred, in my own term, to as the dark ages of the web. Web 2.0 improved on its limitations.
Web 2.0 added more features and that is the web as you have it today. The like, share, comment buttons on Facebook, Instagram, Snapchat, WeChat, and other social media and websites today are examples of features under web 2.0. Web 2.0 is dynamic unlike static web 1.0. People cannot only search but also interact and connect with one another. Algorithms are there to sift through pages and suggest relevant pages tailored to the content you are searching for. You can go hours on YouTube binging on videos, you can post pictures and videos online and you can make cross-border transactions from your room with fewer restrictions. You can make payments with your Visa and MasterCard and without a card online seamlessly with few restrictions.
The differences: Web 1.0 and Web 2.0
What distinguishes web 2.0 from web 1.0 are the social Apps that came onboard. Cloud-based applications like Google Docs, microblogging apps like Twitter, Social apps like Facebook, talk of YouTube, Pinterest, etc. It was these applications that house the new features and they keep improving these features as consumer taste changes. However, these applications serve as an overlord. Overlords that get and use consumers' data without permission. Overlords that can ban you from their platform at will. If the President of the United States can be banned on Twitter and Facebook, how much more you?
Now, The ads you see, the content you see on your Instagram(a web 2 application amongst many) and your search engine differ per individual. This data which is yours is used to make tons of money. Of course, you didn't pay before you access these platforms. They are all free to access. The question is: how do they make money? They make their money through your data. You are the product they sell. If you understand this, you will get the idea behind web3.
Web 3.0 Explained
Web3 aims at creating a decentralized web where every individual will be in control of their data. That is, big corporations like Facebook and Instagram wouldn't have access to your data without your permission. Also, instead of using these applications for free, you get to earn as you use them. The web3 revolution will affect all aspects of human interaction because it leverages the power of the Blockchain to keep ledger records that will be accessible to all users, which will be secured and cannot be destroyed by anyone. It also leverages machine learning and Artificial Intelligence to train algorithms to curate content that is personalized to each individual. Web2 bots like Siri, Alexa, Cortana, and Google Assistant are doing this but with limitations. They can't read emotions yet through the written word. So, all these: Blockchain, Artificial Intelligence, machine learning, and Internet of Things will work complimentary to create a better user experience in web3.
No one can give an accurate projection
Even though, no one can give a definitive view of what web 3.0 will be like, I still believe it is the future. Why? If you take a look at the trajectory from web1.0 - web2.0 you will realize that the latter builds on the limitations of the former. In that same way, web3.0 is building on the limitations of web 2.0 as of now and a lot of applications focused on web3 are rolled out by the day in various sectors. Let’s examine the finance sector. The currency of the future as regards finance are cryptocurrencies which have their root in the blockchain technology that powers web3. More than ever before, you can now send money cross-border without any middleman or centralized provider. Bitcoin, Ethereum, Filecoin, and a host of others are digital assets with uses cases bringing solutions to web3 that is in development.
You can now borrow money in crypto, lend and repay without restrictions. This is the solution AAVE a cryptocurrency is bringing to web3. There are other sectors currently under development however, as of now, Web3 still depends on Web2 infrastructure and if infrastructure providers such as Amazon Web Services were to fail, most Web3 applications would also no longer be available.
The Major Differences Between Web2.0 and Web 3.0
To wrap this all up let us examine some of the key differences between Web 2.0 and Web 3.0
1. Centralization/ Decentralization problem: In Web3 you can send your transaction via a decentralized blockchain such as the Ethereum blockchain. While on web2, you need to use a centralized platform like banks or Fintechs. For the record, all web2 applications are controlled by centralized corporations.
2. Ownership of Identity, Information, data, and digital assets: You own and control your identity, data, and digital assets in web3. As long as you remember your private key and passwords, no one can tinker with your digital assets. You are safe. However, in web2, your money is in the control of banks and Fintechs. Your identity and data are in control of big corporations that use them and sell them to third-party to use without your permission.
3. Technology that Powers both web: Web2 is powered by programming languages like HTML5, PHP, CSS3, JavaScript, etc while web 3 will be powered by artificial intelligence, machine learning, Blockchain technology, and the Internet of Things.
Conclusion
No one can definitively give the trajectory that web3 will follow because it is still in its developmental stage. So, instead of sitting on the sidelines, build, interact and get in early because early adopters reap the greatest reward in the long run. Trust in centralized exchanges made web2.0 thrive. The same trust is what will power Web 3.0. Trust, not in any centralized exchange but trust in an entity that is unalterable and holds a permanent record of transactions. The trust in the blockchain.
PS: Thanks to the initiative of platforms like https://blockgames.gg/, https://nestcoin.com/, and https://zuri.team/ that are providing blockchain knowledge to help enthusiastic individuals learn and build on the Blockchain.
