It has been more of a buzzword lately, dominating more and more interactions and conversations.
Like every other evolution, it is a transition from 2.0 to 3.0. The web is said to have undergone three phases. Web 1.0 which was a consumer/static type of internet which was in use in earlier years.
Then we had web 2.0 which came with the advent of technological companies like Google, Microsoft and the likes. In our present time, it is a general opinion that such companies has amassed too much power and issues has risen relating to data selling, privacy and ads management. It is also the thought of many that we generate content for free without any form of gain.
Web 3.0 hopes to be people-oriented where they will be no agencies or tech companies to manage. That means it would be more democratic and decentralized. People would get rewarded for their content. There would also be cross platform functionality where creating countless accounts on different website would not be a thing. All these are to have a backbone-cryptocurrency thereby making the internet decentralized unlike how it presently is. The most powerful feature of web 3 is DAO(decentralized autonomous organization). You'll be able to profit from your own time and information
Of course, there are two sides to this, there would be a good side and also disadvantages.
Let's try to analyze the advantages:
-The web would be decentralized
- Content creation would be rewarded.
- Less of a hassle navigating different platforms
What about the disadvantages:
- There might be to little restrictions on the use of the internet.
- Harmful and obscene contents might increase.
I am particularly hopeful and hope to see how it turns out.
What are your thoughts on this?
