🐣 Introduction to Web3
Web3, referred to as next generation of the internet. Lets understand basic difference between generation of web before diving deep into Web3/Blockchain. This blog is for someone just starting their journey of web3.
Web 1.0:
Web 1.0 is not an actual official name, as internet evolved we started referring first version of world wide web as Web 1.0. It as a protocol developed by Berners-Lee. In Web 1.0 we just had an option to read, all the websites were read-only. There was no way for users to interact with websites. It was all static webpages.
Web 2.0:
With increasing internet usage, instead of only providing read only option companies have also started providing way to interact with user. Where users is not only user who get information but also a creator. In Web 2.0, we saw a shift where users are able to share the knowledge using different platform. We saw very good growth internet usage.
Web 3.0:
Coming to web3, seeing the growth of internet usage and it obvious big brains will come up with some idea where user will have control over there data too. Web3 is read write and own. Instead of code being written and controlled by group, it was developed as open source, encouraging maximum participation which we call decentralization. Unlike Web2, Web3 give control of asset to user. Lets understand some properties of web3:
- Decentralization: Decentralization means there is no central authority running the server, instead code is open source and open to all how can understand and participate. Lets understand with the help of an example. Suppose in today’s time you have some social media account your’s account complete control is with respective party which is handling the social media. But in Web3 there is no central authority which is controlling data it. In terms of finance you have complete control of you many it will not like your money is control by some central authority.
- Trustless: Trustless mean there is no need to get trust from third party. Anyone can participate in blockchain system based on incentives and economic structure without looking to third party authentication.
- Permissionless: Everyone has equal access to participate in Web3. Blockchain world permits everyone to read, write and own.
- Transparency: Blockchain provide transaction traceability and are unchangeable. Which give confidence to user without third party.
Web3 is not all about blockchain:
We normally hear Web3 with blockchain or Blockchain with Web3, but there is a difference.
Web3 is used to describe a broader view for next generation of internet, where we can see decentralized applications and protocols running on peer-to-peer network. These applications/protocols provide transparent and open internet not controlled by centralized authority. Whereas blockchain is a technology which refers to distributed and immutable ledger that is maintained by a network of nodes.
In essence, blockchain is the underlying technology for Web3. Blockchain is a foundational technology, and Web3 is the application layer that runs on top of blockchain, enabling the development of decentralized system and user interactions with blockchain networks.
Conclusion:
With this blog we exactly understood what exactly is Web3 as a concept and how it is different from pervious versions of Webs. In the next blog we will understand more about blockchain technically.
