Last updated on April 26th, 2023
From the early days of Web1, which featured static texts and images, to the present day of Web2, the Internet has advanced quickly. The Web3 age, in which value and data may readily move across decentralized platforms with distributed ownership and control, is only now beginning. What else does Web3 offer, though? What distinguishes it from Web2?Â
Continue reading to discover more about these two ideas, their distinctions, and potential applications. Web3 is currently gaining popularity in the online environment. Its expanding acceptance and usage are correlated with those of blockchain and security technologies. Now that we are aware that Web3 will eventually become standard, it is time to examine the previous generations, their differences, and other factors.Â
Since the technology is still in its infancy, understanding the idea may aid users in understanding it better. The two internet iterations are clearly defined by Alexandra Pitkevich, EPAM Systems’ principal for business consultancy. “Web 2.0 ushered in the era of user-generated content by bringing social media into existence.Â
Data kept on servers owned by large organizations and institutions was a common thread in earlier incarnations. Even if the user had created the data, they ultimately weren’t the real owners.
What sets Web2 and Web3 apart from one another?Â
Web 2.0 and Web3.0 have comparable technology and histories, but they take distinct approaches to problems. The key difference is that Web3.0 places more emphasis on producing content than Web 2.0 does on consuming and writing it (Semantic Web). The latter is significantly superior because it makes use of technology to improve cybersecurity while also facilitating information exchange among web users.
Practical Comparisons
Web2 | Web3 |
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This does not imply that every service must become a decentralized application. These examples highlight the primary distinctions between web2 and web3 services.
Web2 strives to connect people, whereas Web3 mixes data with meaning and increases trust. This occurs due to decentralization. Additional distinctions are given below:
1. Currency
Transactions on Web 2 utilize fiat currency. During transactions, government-issued currency, such as the US dollar, is used. Web3, on the other hand, finances transactions with cryptocurrencies such as Ethereum and Bitcoin, which are encrypted digital currencies.
2. Ownership of content
With Web 2.0, the network acquires authority over information storage, resulting in access problems and concerns over the anonymity and security of online data. Web3.0 solves this issue by enabling the simultaneous flow of data in several locations.
3. Speed
Web 2 transfer speeds are faster than Web3 speeds. Web 2 searches for data stored in a fixed location, typically on a single server, utilizing HTTP in distinct web addresses. Web3, on the other hand, transfers ownership to several third parties (decentralization).
4. Technology
AJAX and JavaScript, HTML5, and CSS3 are the most popular Web2 technologies. ML, deep learning, semantic web, and decentralized technologies power Web3.
5. Application
The Web2 application contains podcasts, social bookmarking, blogs, RSS feeds, and video websites. Web3 integrates dApps, virtual worlds, and 3D portals powered by artificial intelligence and machine learning.
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Centralization Vs Decentralization
In the table below, we compare the advantages and disadvantages of centralized versus decentralized digital networks in broad strokes.
Centralized Systems | Decentralized Systems |
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What are Web3’s advantages?
Web3’s decentralized architecture is its principal benefit or value to consumers. In the next generation of the Internet, centralized networks will be penalized. A democratic environment in which expenditures are more visible due to the use of public distributed ledgers will be just and trustworthy.Â
As a result, corporate corruption will eventually decline. It is reasonable to assert that Web3 can enhance business and government operations. Nonetheless, the magnitude of the change will almost surely generate criticism. While decentralization is one of Web3’s greatest potential advantages, others include:
1. More privacy
Security and privacy will take precedence over surveillance and control in Web3.0. Users will have total authority over their data. They have the option of sharing the information or keeping it private.
2. Security
It will be incredibly difficult for hackers to exploit the network, and even if they do, their actions will be logged. In a decentralized system, attacks are still possible, although the majority of blockchains have created countermeasures.
3. Semantic Web
The Semantic Web is the subsequent stage in the growth of the internet. Semantic Web improves all aspects of web-based platforms. Using semantic technologies, users can develop online data repositories, define vocabularies, and establish data management policies. RDF, OWL, SKOS, and SPARQL are the technologies utilized to enable linked data.
4. ConnectivityÂ
Data is inextricably linked to Web3.0 due to semantic content, resulting in an enhanced user experience and a new degree of connectivity that exploits all accessible data.
Misconceptions regarding Web3
Pitkevich emphasizes a common misunderstanding that the metaverse and Web3.0 are the same. In actuality, the metaverse is merely users interacting with the presentation/interactive layer, whereas Web3.0 represents the complete decentralized infrastructure.
Is Web3 the subsequent evolution of the internet?
Concerns and enthusiasm have been expressed regarding the decentralized internet’s fundamental lack of safety and legality oversight and control. Some doubt that it will be as free as people believe. The internet was founded on the ownership of servers; since then, data has become stored on a server or cluster of servers in the cloud, which are frequently held by corporations managing data on behalf of users.Â
Web3.0 will break this paradigm by shifting from a single server to multiple decentralized servers, according to Pitkethich. As Berners-Lee envisioned, Web3.0 would create a universal environment ungoverned by a central authority, he concludes.Â
It will alter the way organizations connect with customers by enabling direct access to end-users. Potential revenue streams, such as curated content, products, and experiences, will require the development of new channels and infrastructure. Is Web3 a fundamental redesign of the internet or only a fad?Â
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Are You Looking for Web 3 Assistance?
The original use case of cryptocurrency is only one aspect of the upcoming Web3.0 wave. Web3.0 will cryptographically connect data from people, corporations, and machines with effective machine learning algorithms, resulting in the rise of fundamentally new markets and associated business models.Â
This is made possible by the richness of interactions now possible and the global scope of counterparties available. The outcome is comparable to a “return to the global village”—daily immersion in the human-centric, highly personalized interactions that we once benefited from, but which are now given at the global scale of the internet and enabling a wide range of human and machine skill specializations.