Overview of Web 3.0

Web 3.0 is the 3rd generation of the internet where the devices are connected via a decentralized network instead of a server-based database. This new internet era will be more secure, private, and user-centric.

Evolution of Web:

Web 1.0 -> Web 2.0 -> Web 3.0

Timeline:

Web 1.0 (1989–2005)

Web 2.0 (2005– present)

Web 3.0 (yet to come)

Read — Web 1.0

Read & Write — Web 2.0

Read, Write and own your data — Web 3.0

We are moving towards decentralized internet. Nodes, in this case, will be on the blockchain, and we will have dApps.

If you are not paying for the service, you are the product.

These Companies Control the Internet (Source: Statista)

Web 2.0 — dominated by Big Tech Companies

With more data comes more money; with more money comes more power/control.

Data Ownership Reality Right Now —

-> You don’t own your data

-> Your data is being used against you — targeted advertising, spying by adversaries, etc. — basically, we all become cash cows for them.

With a decentralized network, we can create apps that are

• OpenSource and profitable

• Community driven

• Censorship Resistant

Issues with Centralization —

• Data privacy

• Data Ownership Concerns

• Single point of failure can be catastrophic for the users as well as other dependencies.

Significant Web 3.0 Benefits:

1. Anti-monopoly and Pro-Privacy

2. Secure Network

3. Data Ownership

4. Availability

5. Trustless

Web3 is all for transparency.

Web 2 ---> Web 3

Google Chrome → Brave

Gmail → Skiff

Twitter → Mastodon

Paypal → Cryptos

Google Drive → Storj

YouTube → Odysee

Facebook → Minds

WhatsApp → Session

Banks → Metamask