https://nasacademy.com/blog/article/what-is-web3
“Web3,” also written as web 3.0, is a new but very commonly talked about topic. It’s everywhere nowadays, from social media to forums. Coined by Ethereum co-founder Gavin Wood in 2014, it’s the next step after Web2 and is defined as an idea for a brand new version of the World Wide Web. It uses blockchain technology and incorporates several of its concepts including digital coins and NFTs.
The term has gained momentum in recent times with cryptocurrencies now accounting for about 7% of all the money in the world.
To understand the term Web3, you will first need to take a trip back to the past and understand the evolution of the web.
It is divided into three phases:
To put it simply, Web 1.0 came in the era of dial-up internet and no cellphones. Web 1.0 was used by content consumers when only a small portion of ‘creators’ existed.
These ‘content creators’ were developers who built websites, only by using text and images.
It was the beginning of the internet era and very few people had access to it.
Web 2.0 changed the face of the internet in 2004 by giving people a more ‘immersive’ web experience. Users can be content consumers and creators simultaneously.
From vloggers you watch on YouTube to streaming rooms where gamers can interact with each other in real-time, all of this has been made possible by Web 2.0
And finally, Web3. If web 1.0 was the era of reading, and web 2.0 was writing, then web3 is the era of reading and writing.
Web3 is a trustless, open, and permissionless network. It allows machines and users to interact with data.
Let’s take a look at four main features that define Web3:
The semantic web is a more advanced version of the World Wide Web that we use today. Software on this system can interpret data and not look at keywords.
For example, with the semantic web, if you make a Google search for Paris (the place), you won’t have to scroll through numerous search results about Paris Hilton (the celebrity) to get to the actual result.
Another defining feature of Web3 is three-dimensional graphics.
Have you noticed virtual tours becoming increasingly popular? All of that is a part of web3!
A recent example of this feature is the Metaverse developed by Facebook. It is a digital world where users from all over the world can meet virtually. Many call it the feature as it’s expected to revolutionize the world.
You’re probably familiar with the term AI. But, for those of you who aren’t, AI refers to the concept of machines interpreting information the way humans do.
A basic example of Artificial Intelligence is Siri by iPhone. It can understand the meaning of your words and give correct answers. AI is now being used in different industries to help save time and is even replacing humans.
Web3 is incredibly ubiquitous. The content you upload can be accessed from multiple devices and makes people feel connected as all devices within the user’s environment can be connected to the web.
Let’s take a look at a scenario that brings these four defining features into play:
Picture this, you’re in your car driving home and you feel hungry. You stop your car and call out to the automotive assistant installed into your car and ask it a question:
“I would like to watch an action movie, followed by dinner at a fast-food restaurant.”
Thanks to the semantic web and AI, the automotive assistant will quickly give results that have been personalized while taking your location, current route, and time into account.
It’ll provide you with a restaurant based on reviews found on the web. The cherry on top: you might also get a 3D view of the menu available at the restaurants.
The thing that makes Web3 so revolutionary – and different from Web2 – is decentralization.
This is the very backbone of Web3. Not only is Web3 decentralized, but it is also a way to use the internet without needing servers. Technologies of Web3 like cryptocurrencies are all about decentralization. They’re not a part of a decentralized source of money like banks.
We must mention that Web3 comes with several benefits including a lower risk of data loss. Also, with this technology, you will not need permission to use a service on a network. Plus, your access cannot be blocked.
Web3 puts power into the hands of the common man. The internet that we use today (WEB2) is broken. Our data is at great risk and we use permissions at different intervals to continue to use a service or server. Web3 intends to remove these barriers and protect people.
It removes middlemen and reduces the role of large companies enjoying monopolies. For example, one project within Web3 aims to create a decentralized ride market application with plans to overtake giants like Uber.
Once this app comes into play, all money generated will go directly to the drivers, instead of going to a single entity.
This is the biggest upside to the world shifting towards Web3. It shows us just how beneficial technology is when it is used right.
Web3 will turn out to be bigger than Web2, not because of its technological advancement, but because of its inclusion. Think of Twitter, for example. It can currently censor user tweets and accounts but with Web 3.0, it will not have this power.
If web2 is about companies trying to gain people’s value, then Web3 is about valuing people through communities.
For the first time ever, top experts have come together with Nas Academy to form a web3 learning community – and you’re invited!
Whether you’re launching an NFT project, investing in Bitcoin or NFTs, or are curious about how web3 works, you’ll discover that “community” is the foundation of the web3 space. And now, you can join a vibrant and supportive community full of web3 enthusiasts like yourself.
This community offers a safe space to network, learn, and collaborate with some of the most innovative thinkers around the world. On top of that, we’ve pooled all our resources to give you access to thousands of dollars worth of Nas Academy resources (including our best-rated classes) all under 1 subscription.
By subscribing to the Nas Academy Web3 Community, you’ll also be invited to join exclusive events and workshops with the world’s leading experts – an opportunity that you won’t easily find anywhere else. So, if you’re looking to learn more and discuss web3 with others who share your interests, subscribe today and join the movement that’s changing the Internet.
By Admin Nas Academy
By Admin Nas Academy
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