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What exactly is Web3? What you should know

In advance, you should know that our agency offers all these services to unlock your potential with data-driven strategies.


Though Web3 has obviously been the topic of a lot of recent conversation, if you’re still unclear about what it precisely is, don’t worry; many individuals are currently working to provide a precise definition. However, in the most general sense, Web3—the most recent version of the internet—is a decentralized online network created and formed using the blockchain.


With Web3, the platforms and apps are not under the control of a single entity or regulating authorities. In other words, businesses aren’t gathering, keeping, and profiting from the data of users who want to utilize a Web3 service or app. Instead of trading their data for access, users can connect and engage on Web3 platforms. Additionally, the services are designed to be completely transparent and trustworthy.


Of course, this is just the tip of the iceberg for explaining Web3. Looking at what came before Web3 is the best way to understand this new phase of the internet.


Web2 and Web1 were available prior to Web3


The initial iteration of the World Wide Web, known as Web 1, first appeared on our computers in the 1990s. It was a basic version of the internet compared to what we are accustomed to, with dial tones and outdated landing sites that seemed to take forever to load.


Reading text and looking at static images were effectively the only options accessible to anyone accessing the internet in the early days, which is another characteristic of the original internet.


Web2, or the internet as we know it today, appeared next. We offer our data to big businesses on the internet in order to access their services.


Because it is a centralized web, amending that a large portion of online activity occurs on closed platforms run by these monopolistic corporations like Snapchat, Meta, Alphabet Inc., which the federal government regulates.


Of course, Web2 isn’t all bad (where would we be without TikTok and Tinder?), but much of the public is suspects of the data collection carried out by these tech overlords, and there’s a growing movement of people looking to reclaim control of their online experience.


The web’s first three stages


Web2, or the internet as we know it today, appeared next. We offer our data to big businesses on the internet in order to access their services.


The internet is centralized, which means that a significant part of online activity takes place on exclusive platforms controlled by monopolistic businesses like Snapchat, Meta, and Alphabet Inc., which are subject to federal regulation.


Web2 isn’t entirely awful, of course—after all, where would we be without TikTok and Tinder?—but a sizable portion of the populace is wary of the data collecting practices employed by these digital tyrants, and a movement to take back control of one’s online experience is gaining ground.More on what makes Web3 different.


Web3 is introducing a completely new mode of online interaction. Compared to earlier iterations of the internet, there are both more subtle distinctions and many surface-level ones.


However, creating a new internet with a decentralized focus is one of the primary drivers for this momentous change to Web3. Here is where the web’s various manifestations begin to diverge, and Web3 has the potential to alter how the internet is organized.


What will Web3 lead us to?


Even while Web3 played a significant role in the development of NFTs, the metaverse, and even cryptocurrencies, it’s still unclear how far this new stage of the internet may advance.


The continued investment of time, money, and effort into the advancement of Web3 technology is a given. You may bet your favorite NFT that there will soon be important developments.


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