Hello Readers!!!

Today on my blog, I am walking us through what Web3 is about.

Most of us today are already using web3 but do you know why it is important, why we need it? and why do we have to dive into it completely?

Read on to grab some important information about this new era of the internet.

The eagerness to have our own internet, an internet that is not controlled by any private body, a censor-free internet where we'll all be free from internet giants requesting us to log in to platforms owned by a centralized body is the reason Web3 came into life. This eagerness has moved us from the era of Web1 and gradually moving away from Web 2.0, and now, all we talk about and want to see around is Web3

Web 1.0

Web1 was the first iteration of the web, an internet era controlled by a few set of people and most of the participants were readers, those that consume content created by the few other sets of people, these few are developers who build websites containing information that was served to readers through text and images, it was a read-only web system with less interactivity, hence why it didn't last long before Web2 came to around.

Web 2.0

Web 2.0 came easier, it came to us very simple that we don't have to be a developer to participate in this web system, it is simply our interactive social web of today where anybody with an internet connection can create content, apps are built and anyone can contribute through content creation, share their thoughts with the world without any knowledge of coding, Web2 facilitated social engagements/online experiences, more users participated in the creation of web contents. Everything about Web2 sounds cool but some other features could have made it better.

Web 2.0 lack so many things but the few important ones are;

• Security
• Privacy
• Incentives

Users of Web2 have their data with the Web2 platforms they use, they obviously have no privacy on these platforms, the Internet giants (companies) have access to their user's data without their consent, this simply means, there is a lack of security and no privacy at all. Web2 runs on centralized servers which can easily be controlled by the government and platform owners.

This is where Web 3.0 comes in, Web 3.0 is here to solve so many problems including all the shortcomings of the Web2 internet especially the part of centralization.

What is Web 3.0?

Web 3.0 is the future/next evolution of the internet giving the masses some power back, a fully user-focused and decentralized internet, built on a system known as Blockchain. In Web3, people control their own data and there's no centralized authority like it is in Web2 overseeing the development of Web3 because it is an open internet.

In Web 3.0, Developers don't deploy apps on single servers, and to achieve a stable and secure network, They(developers) get incentives for participating in the network, the incentive involved is the reason network participants(Developers) compete between themselves to provide the highest quality services in the Web 3.0 network.

All activities in the Web3 world are stored in a public network, users do different activities with just a single personal account and this creates a public record of all activities performed by each person.

Now, it's not possible to talk about Web 3.0 and not mention Cryptocurrency.

Cryptocurrency serves as the main financial incentive(tokens/coins) to everyone participating in the Web 3.0 network, this could be creators, contributors, or those in governance. Web3 is interesting that finances(money) go directly to network participants, with no middle man in the transmission of finances.

In short, Web3 is reinventing the entire internet to something totally different from what we've had in Web1 and Web2 and giving the participants of the network power to themselves rather than concentrating all powers in the hands of a few.

Let's move on to the features that made Web3 unique from all others;

Features of Web 3.0

The main features of Web3 cannot be separated from that of decentralized technology, therefore, all features still fall back to having a censor-free internet, below are the main features;

• Decentralization
• Trustless
• Permissionless
• Verifiable

Decentralization

Looking at the concept of blockchain technology and the level of transparency through public distributed ledger that allows peer-to-peer (P2P) networks to transact publicly, consistently, and in a tamper-proof manner, which is a major solution to the problems of the Web2 internet, Decentralization is Web 3.0 and Web 3.0 is Decentralization

Decentralization means no central authority is in charge and every individual participant takes charge on their own, they hold their own private key in this internet network which serves as a means of identification for each of them.

Trustless

Rather than put your trust in the platform you use to secure data and privacy as a trusted platform, Web 3.0 network is a trustless internet that operates in a very transparent way through recording activities on blockchain networks, users can rely on the performance of the network validity without having to trust anyone. Blockchain, in a decentralized way, provides a means of securing transactions and data.

Permissionless

No platform can be interesting as that which doesn't need third-party interference or any centralized authority before its users can get things done, users of Web 3.0 are able to interact with each other without any intermediary, blockchain is still the reason for this flexible transfer of information between web3 users without any external authorization or approval.

The following are the expected architecture of the Web 3.0 Network;

• Semantic Web
• Artificial Intelligence (AI)
• Visual Immersion
• Secure - Ubiquitous Data

The above-mentioned architecture will be combined and birth through the Web 3.0 technology, letting many decentralized applications more device-agnostic and also allowing smooth interactions between software and hardware platforms with no operational friction, leading to a very secure, decentralized infrastructure necessary to power Web 3.0.

Web 3.0 is here to stay.
So many Web 3.0 platforms in the crypto space right now.

Thanks for Reading

I am Bee 🐝