Since its inception in 1990, the internet has grown from Web1 — read-only static sites with little interaction between users — to Web2, dynamic read-write pages where advertising is revenue and user information is sold as a commodity.
However, times are changing, and more companies are choosing to operate remotely, data and privacy are becoming more of a concern and blockchain technologies are rapidly advancing.
This is leading to a shift in how we use the internet and the development of a new and improved web: Web3.
What is Web3, what role will blockchain play in its development, and what can we expect for the internet's future?
The internet of today
Web2 is what we know and use today. Social networks, blogs and dynamic content have become the norm. Content is distributed worldwide every second, and information is available at the touch of a button.
Although the past decade of growth has been undeniably exponential, many flaws are yet to be addressed.
There is an over-reliance on large corporations that monopolize parts of the internet. Cloud storage companies and social networks own our data, which can be deleted at will or sold to advertisers.
Global availability is a major concern, and corporations have chosen to favor profit over people. First-world countries take the internet for granted as a right rather than a privilege. However, over 1 billion people — upwards of 10% of the population — are without internet access.
Although a long road lies ahead and many issues remain unaddressed, a push toward a new and democratized internet is underway.
Continue reading: https://www.nasdaq.com/articles/what-is-web3-and-how-will-it-change-the-internet-as-we-know-it
However, times are changing, and more companies are choosing to operate remotely, data and privacy are becoming more of a concern and blockchain technologies are rapidly advancing.
This is leading to a shift in how we use the internet and the development of a new and improved web: Web3.
What is Web3, what role will blockchain play in its development, and what can we expect for the internet's future?
The internet of today
Web2 is what we know and use today. Social networks, blogs and dynamic content have become the norm. Content is distributed worldwide every second, and information is available at the touch of a button.
Although the past decade of growth has been undeniably exponential, many flaws are yet to be addressed.
There is an over-reliance on large corporations that monopolize parts of the internet. Cloud storage companies and social networks own our data, which can be deleted at will or sold to advertisers.
Global availability is a major concern, and corporations have chosen to favor profit over people. First-world countries take the internet for granted as a right rather than a privilege. However, over 1 billion people — upwards of 10% of the population — are without internet access.
Although a long road lies ahead and many issues remain unaddressed, a push toward a new and democratized internet is underway.
Continue reading: https://www.nasdaq.com/articles/what-is-web3-and-how-will-it-change-the-internet-as-we-know-it
