To understand Web 3, let's start by explaining, dividing into periods, what the internet has been throughout history.

WEB 1.0: it can be said that it occurred between the years 1990 and 2004, when Tim Berners-Lee developed open protocols that allowed information to be shared from anywhere in the world. The websites were static and the interaction with the users was practically null, that is to say, they used to offer only one service: reading.

WEB 2.0: started in 2004 when social media platforms appeared. Thus it evolved into a field of reading and writing.This is the web we know today, where companies, instead of just providing content to users, start creating platforms to share human-generated content and encourage interactions between users.

WEB 3.0: The concept behind this new phase was conceived by the co-founder of Ethereum, Gavin Wood, after the launch of this network in 2014. Its objective is to solve the problem that many people feel when adopting cryptocurrencies: the Internet required too much trust. The web that people know and use today means trusting a handful of private companies, it means centralization. WEB 3.0 bases all its technology on decentralizationWEB 3 became a catch-all term for the vision of a new and better internet. The idea is to use blockchain, cryptocurrencies and NFTs to return power to users in the form of ownership.

Characteristics

•Ownership: Provides direct ownership of digital assets in an unprecedented way. For example, when you purchase an NFT that is part of a game, no one, not even the creators of the game, have the power to take ownership away from you. And if one day you stop playing, you can sell or trade your in-game items on open markets and get their value back.

•Censorship resistance: your data lives on the blockchain. When you decide to leave a platform, you can take your reputation with you and plug it into another interface that aligns more with your values. Web 2 requires content creators to trust the platforms not to change the rules, but censorship resistance is a native feature of a Web3 application.

•Identity: many platforms on the Web 2, to create an account, demand that you trust them when managing your personally identifiable information. Web3 solves these problems by allowing you to control your digital identity with a wallet address, thus providing cross-platform single sign-on that is secure, censorship-resistant, and anonymous. Automation: the system works without any human intervention, through intelligent contracts, which automate the entire process, reduce costs and reflect in its code all the necessary agreements.

•Native Payments: Payments on Web 2 rely on banks and traditional payment processors, excluding people without bank accounts. Web3 uses tokens to send money directly in the browser and does not require a third party. It promotes financial freedom, decentralized finance (DeFi), where everyone has control over their finances, without intermediaries.

MzeDex Team