How did Web era start?
The Internet as a developing phenomenon now was separated into three periods: Web 1.0, Web 2.0, Web 3.0
Web 1.0 (1990-2005) was the first one. There were decentralized and community governed protocols so most of the data were concentrated between users and builders. Much static and almost no interactivity. Builders create and users use.
Web 2.0 (2005-2020) is the period that most of you know. All the data and services are centralized and being owned by big governance companies. But to create or share any kind of a product like thoughts, blogs, ideas, music, videos, courses, photographs and a lot of others you don’t need to be a builder. Web 2.0 gives you an opportunity to create and build and not being a builder at the same time. Builders and users create and use, and after that another builders and users use and create.
Web 3.0 - era that begins now. In fact, this is about developed Web 1.0 decentralization that combines Web 2.0 advances. Also, builders and users create and use, and after that another builders and users use and create. But Web 3.0 also gives everyone an opportunity to own like a small piece of the Internet and manage it how they want it to manage. So Web 3.0 is about self-governing.
What advantages does the Web 3.0 era have?
Unlike Web 2.0, Web 3.0 systems and services don’t need databases to work. They work on blockchains. This means that not only teams and builders can work with some information or raw things, because it’s public, now everyone can have this opportunity. Based on cryptographic algorithms, new system allows all users to be anonymous and data-safe, but to see the system overall, to explore separate details and work with them.
So there are some fundamental features of Web 3.0 that distinguish it from Web 2.0: Web 3 is permissionless, verifiable and secure.
To make the decentralized system working well, it has to motivate users so that they were interested in making good decisions. So, to achieve stable and safe working, network participants compete with each other to provide users with the greatest service. And it’s not all about cryptocurrencies. Protocols can offer various services such as computing, data storage, bandwidth, identity, hosting, and other web services that were typically provided by cloud providers in the past. That is the reason of existing of many directions like decentralized finance (DeFi), decentralized gaming (GameFi), NFT art and a lot of another ones.
But Web 3.0 is also about cryptocurrencies, because it’s the first direction in which decentralization as a phenomenon was developing.
So there is one more feature such as native built-in payments. Users can pay inside different platforms and blockchains by using tokens. With crypto wallets it will be anonymous, secure and frictionless. It also means that users can make international money transfers without any extra complexities.