The Web3 buzz has been in the crypto space for the past few years. The introduction of new Web3 projects also contributes to the development and adoption of the crypto industry.

Web3 gives its users the opportunity to earn for their time and effort. For example, you can participate in Web3 games and receive NFTs and other cryptocurrencies for your skill and game time. Games are just one of the use cases for Web3; Web3’s potential doesn’t stop there.

Before getting to Web3 in detail, it’s important to understand how the web evolved. Stay tuned!

Web evolution

In two decades, there has been a huge change in web development. Let’s enter the different web versions:

Internet 1.0

The term web 1.0 was coined by web designer and author Darci DiNucci in 1999. This initial web version consists of static HTML pages. Simply put, you can only read the information that is displayed. For example, it is similar to reading a newspaper online. All you can do is read the news.

In the case of web 1.0, users had no option to interact with the available web pages. Also, there were no functions to upload our thoughts or ideas. Online social interaction was far from reality in the early 1990s.

web 2.0

Things started to change towards the end of the 1990s. Users were able to have a more dynamic web experience. Social networking websites began to appear, giving users the opportunity for online social interactions. Hence, Web 2.0 was born.

Unlike Web 1.0, the growth and potential of Web 2.0 was massive. Web 2.0 played a crucial role in transforming our lives. Of course, Web 2.0 was responsible for the technological advancement we enjoy today.

Online platforms like Twitter, Instagram, YouTube and LinkedIn are some examples of the impact. Web 2.0 has been made in our day to day. Other examples include online booking websites and apps. See how the evolution of the web has transformed our lives.

Web 2.0 is awesome, so why should we consider Web 3.0 or Web3? We’ll get there right away!

What is Web3?

Web3 can be considered the next evolutionary version of web 2.0. Blockchain technology is considered the backbone of Web3. This latest web version aims to make the internet world more user-centric. Also, users can benefit from the advantages of blockchain technology.

The name Web3 was coined by Gavin Wood, co-founder of Ethereum. He believed in a better web version that an organization didn’t control. Web3 will play a prominent role in increasing trust among web users.

Web 2.0 works on the read-write mechanism while Web3 works on the read-write-ownership mechanism. Here you empower your users by giving them ownership of their data. Also, users can benefit by monetizing their data for token or NFT rewards.

Web3 Features

Decentralization

Decentralization is at the core of Web3. This feature helps users to protect their data from third parties. Data ownership is also distributed among users and builders.

Web 2.0 platforms such as Google, Instagram, YouTube and others use the data of their users for marketing and advertising purposes. But still, users do not benefit from their valuable data. That’s what makes Web3 unique.

Unlike Web 2.0, users of Web3 platforms can choose to provide their data or keep it private. For example, the Web3 browser rewards its users with cryptographic tokens for viewing ads. In addition, you can also opt out of seeing ads. Impressive right?

Virtual world

Advanced technological development has given way to more realistic virtual spaces. Web3 will act to give its users a more immersive viewing experience. More game projects are built based on this virtual world.

A concept like Metaverse is a perfect example of how the virtual world can transform industries like healthcare, real estate, gaming, education, and more. Additionally, augmented reality (AR) and virtual reality (VR) devices can take the user experience to the next level.

artificial intelligence (AI)

Artificial intelligence plays a crucial role in the development of Web3. This technology helps convert human-readable content into data that can be read and processed by machines. Much technological progress is needed to utilize the potential of Web3, and AI helps create valuable tools to support Web3 development.

Since you know the features of Web3, let’s look at its use cases.

Also read: Near Project’s Octopus Network Cuts 40% of Its Workers in Crypto Winter

Web3 Use Cases

The main use cases of Web3 are:

GameFi

GameFi is nothing more than blockchain powered Web3 games. You can play those games and earn rewards in return. The rewards are mainly provided in the form of crypto tokens.

Another important feature of GameFi is that game avatars, tools, and accessories can be purchased as NFTs. Suppose you are playing a game based on motorcycle racing. In that case, you can buy a motorcycle like NFT. You can also sell this NFT to other players.

decentralized browsers

The basic function of a decentralized browser is similar to that of a traditional web2 browser. But a web3 user can enjoy the additional benefits of blockchain technology. The main benefits include security, transparency, data protection and data ownership.

Unlike centralized browsers like Chrome or Firefox, Web3 also comes with built-in crypto wallets. This feature will help in faster crypto transactions. For example, the Web3 Brave browser comes with its built-in crypto wallet.

Not interested in seeing ads? So Web3 browsers are useful. You can go to settings and turn off receiving ads. However, if you want to receive ads, you will be rewarded with tokens.

decentralized storage

Data is the new oil and the amount of data that needs to be stored increases over time. Storing and managing data with a centralized organization is a risky option. Before the introduction of decentralized storage, there was no choice but to trust a third-party website or application. Thanks to Web3, now you don’t need to risk your data in someone else’s hands.

With the help of blockchain technology, decentralized data ensures data security and prevents others from accessing data. Also, your data is stored in multiple cloud locations to prevent hacking.

creator economy

The consumption of digital content has fostered the growth of the creative economy. Centralized platforms place many restrictions on content and your posts. These strict rules can limit the publication of many creative ideas. Here too, Web3 comes as a savior for the creator community.

Creators are now free to create and publish their content. Furthermore, Web3 platforms also provide rewards in the form of crypto tokens. You don’t need to worry about being blocked here either. Creators can now provide their fans with ad-free content without a mediator between them.

final thoughts

Web3 will disrupt the traditional features of Web 2.0 with the help of advanced technologies like blockchain, artificial intelligence, machine learning, augmented reality, and virtual reality. You can use Web3 to protect your data against misuse.

Web3 has a long way to go to reach its full potential. With increased adoption and more projects and benefits, the future is bright for this disruptive web version. You can see the launch of new Web3 projects in the coming years.