Web1, web2, web3… this new terminology has thrown the world into a frenzy as everyone tries to understand the digital shift the internet has and continues to experience.
But isn’t it all just “the Internet?” Why call it “web3” when it uses the same underlying web infrastructure?
Right now, few understand the nuanced technological transformations that led to web3. And even fewer people understand why it all happened. Leaving a massive opening for businesses and curious minds alike to learn, innovate, and position themselves to better take advantage of what this exciting future has to offer.
We’ll take a peek behind the scenes at the internet’s evolution to gain invaluable insights into how web3 will impact and transform people's lives forever.
But before we do any of that, you have to understand where we are now and how we got here in the first place.
Here’s a brief overview of the internet’s evolution:
As the official first generation of the internet, web1 focused on providing easy access to information through static content such as text, images, and videos. At this stage, websites were typically built using HTML and primarily used for conveying information rather than prioritizing user interaction.
These interactions were limited by the technology of the time, but they set the stage for the more dynamic and interactive web2, which focused on user interactivity and scalability.
Known as the participatory or social web, web2 refers to the second generation of the internet. This new phase introduced dynamic features that made it easier for users to create and share content online. While web2 increased interactivity, personalization, and scalability, new challenges arose that led to the development of web3.
These advancements in technology and user experiences have enabled more connected and engaged online communities and have continued to drive the evolution of the World Wide Web.
These issues and limitations would end up compounding until the advent of web3 technology. This new tech promises to revolutionize how we interact and do business online. Enter web3.
Web3 addresses the limitations of its predecessors by creating a more interoperable, intelligent, and flexible online experience. With the help of emerging technologies, such as blockchain and artificial intelligence, the web can better understand content and data to provide more personalized, relevant information and better user privacy.
In contrast to web1 and web2, which are centralized and controlled by a few companies, web3 is decentralized and controlled by a network of computers that validate transactions and maintain the system's integrity. This decentralization makes web3 more secure and resistant to fraud and censorship.
Web3 is being built to respond to the concerns many experienced in web2 and web1. What we build, how we build it, and who we build for are at the crux of the web3 movement. While we can’t expect web3 to solve every issue that stemmed from its predecessors immediately, fundamental principles guide the next generation of builders.
Web3 has the potential to revolutionize the way we interact and do business online by providing a flexible and transparent platform for transactions and communication. It can disrupt industries and create new opportunities for both companies and individuals.
This new frontier revolutionizes how we interact with the digital world by giving us complete control over our digital identities.
With web3, you can finally create a digital version of yourself anchored to your physical identity and take it wherever you go. Easily and quickly prove who you are, your age, qualifications, and more with digital credentials verified by any service or application you interact with. And this is just the beginning.
In a broad sense, web3 is the key to unlocking the full potential of the internet to help bridge and unify our physical and digital selves. Integration with web3 significantly shifts how companies and creators interact with their customers and audiences. This emergent space creates unique opportunities to make new and innovative products, experiences, and business models that empower customers and communities.
Web3 is the 3rd evolution of the internet with an emphasis placed on personal sovereignty, data privacy, and security. This is done through the use of blockchain technology and other decentralized systems. Web3 is the version of the internet where users are able to own the data that defines their digital identity, proof of ownership over virtual assets, and grow closer to the businesses and brands they love.
Next time you’re sitting around the dinner table explaining web3 to your family or colleagues, lay a foundation of the Internet’s evolution, and go from there: