What Is Web3?
Probably by now, you’ve heard the term Web3. It’s not a new one, but with the hype surrounding cryptocurrencies, NFTs, and the metaverse, it’s getting more attention. Beyond its buzz, Web3 represents an incredible evolutionary phase where the internet is more open, secure, and individual information more anonymous.
Start By Understanding Web2
During Web1, the internet mostly consisted of tiny websites, blogs, and users massed on various message boards. When Web2 came along, it made it easier to get online, connect with others, and create content that could reach a large audience. This content centered on social networks like Facebook, YouTube, and TikTok.
Blockchain Technology
Web3 is built on blockchain technology. A blockchain code enables peer-to-peer connections to exist without relying on centralized servers. These server-less online networks operate with each device handling a small portion of the communication and computation on the network.
Peer-to-Peer Communication
Peer-to-peer networking makes communication and sharing content possible without a centralized server. Users are not dependent on connecting to a hosted platform such as a search engine or social media platform. The network, or the internet, is stored as bits of data on each user’s device. Fully implemented, centralized platforms will be eliminated altogether.
Decentralizing The Internet
Decentralizing the internet is equally beneficial to general users and content creators. Part of the appeal is the ability to sell or trade digital goods while remaining anonymous but still maintaining the ability to prove a purchase is legitimate. Content creators, and brands, can sell access to their content without being dependent on conglomerate platforms.
Is The Hype Real?
Web3 has a lot of potential, especially with the rapid development occurring within the market. Blockchain, NFT, crypto, and metaverse features are making their way into the devices we use every day. Although the Web3 era is in its infancy, its current momentum can allow it to leapfrog mainstream adaptation faster than anything previously seen on the internet.