What Is Web 3?

Web 3, also known as Web3 or Web 3.0, refers to the next generation of the internet, decentralized and powered by blockchain technology.

Unlike the current version of the internet, known as Web 2, which centralized corporations and intermediaries dominate, Web 3 allows for more secure and transparent interactions and transactions by leveraging the decentralized network of nodes.

This next generation of the internet aims to provide a more secure, transparent, and inclusive web, where users own and control their data and digital assets.

The evolution from web1 to web2 to web3

Table of Contents

Important notice: Do your research.

Our content is intended to be used and must be used for informational purposes only. It is not intended to provide investment, financial, accounting, legal, tax, or other professional advice.

It is essential to research and verify any information you find on this website or any other website.

Learning about Web 1 and Web 2 helps in understanding the evolution of the internet and how it has led to Web 3.

Important note: In this article, you will note that we will use both Web3 and Web 3 terms.

We use Web 3 when referring to the decentralized web.

We use Web3 when referring to the technology behind the next web evolution.

Web 1: The Read-Only Web

1990 – 2004

The World Wide Web, or Web in short, was invented in 1989 at CERN by Tim Berners-Lee, implemented in 1990, and launched to the public in 1991.

The Web protocol and code were made royalty-free in 1993, and that event was the starting point for the launch of thousands of websites within a very short period.

Web 1 was mainly static websites that could be accessed through a web browser with nearly zero interaction possibilities: you could access the static website or static web page and read the content, and that was it.

web1

But, thanks to technological advances, Web 1 evolved to be Web 2, which we know nowadays, a more modern and interactive Web.

Web 2: The Read-Write Web

2004 – Now

The term Web 2, also known as Web2 or Web 2.0, was coined in 1999 by Darcy DiNucci. But it was not until the first Web 2 conference, the Web 2.0 summit that took place in 2004, that the term got widely adopted.

The transition from a read-only to a read-write web was greatly possible thanks to social media platforms because those platforms became the gateway for web users to consume information and contribute by creating content. 

And that content, created by millions of web users, generated massive value for the web and the general public. Still, mostly it generated a tremendous economic gain for the owners of the centralized platforms that publish the content.

Because that is the Web 2 catch, it is highly centralized, and a few large companies have the monopoly and ownership over most of the content.

Even though you, as a Web 2 user, can create content for others to read and even monetize your content and earn fiat from it, the content belongs to the platform that makes it public. And if that platform decides so, it can censor you, close your account or even remove the content you have created.

web2

The transition from Web2 to Web3 started when people realized that too much trust and power had been given to a few private companies. And in the long run, this cannot be good for the general interest.

Web 3: The Read-Write-Own Web

2014 – Future

The term Web 3, also known as Web3 or Web 3.0, was coined by Gavin Wood shortly after the launch of Ethereum in 2014.

The transition from a centralized Web 2 to a decentralized Web 3 is possible thanks the Blockchain technology. Because Blockchain technology has the characteristics necessary for the next Web evolution:

Blockchain technology is Decentralized: Data is stored in a Blockchain with no single system (e.g., Facebook, Twitter, YouTube,…) that has exclusive access and control.

Blockchain technology is Permissionless: You do not need to disclose personal information to access Web3 data. You can open a wallet without providing any personal data and start interacting with Web 3.

Blockchain technology is Trustless

Web 3 is a decentralized network where data and applications are stored and run on a distributed network of computers rather than on centralized servers.

It uses blockchain technology, peer-to-peer networking, and decentralized consensus algorithms to create a self-governed, tamper-proof network.

Users have more control over their data and online identity, and they can interact with each other directly without intermediaries.

The underlying idea of web 3 is to create a more open, transparent, and equitable online environment.

web3

Web 3 Technology: Blockchain and Dapps

Web 3 technology is based on blockchain and decentralized applications (dApps). 

A blockchain is a distributed ledger that records transactions securely and transparently, and dApps are decentralized software applications that run on the blockchain network.

The blockchain provides the infrastructure for a secure, decentralized network that can be used to store and transfer information, assets, and value. 

Dapps, on the other hand, provide applications and services that users can interact with and use. They are designed to run without intermediaries, relying on the blockchain and its consensus algorithms for trust and security.

In web 3, blockchain and dApps work together to create a new kind of internet where users have more control and ownership over their data and online identity and where applications and services can be more transparent and equitable.

dAPP radar

The Benefits of Web 3

In Web 3, the users have more control over their data and online interactions:

Decentralization: Web3 is built on decentralized technologies, such as blockchain, which allows for a more distributed and open internet.

Security: Decentralization also means that the data and transactions are more secure, as a single entity does not control them.

Privacy: Web3 technologies allow for greater privacy and control over personal data.

Interoperability: Web3 technologies make it easier for different systems and platforms to work together.

New business model: Decentralization and smart contracts can enable new business models, such as decentralized finance (DeFi) and non-fungible tokens (NFTs).

Accessibility: Web3 technologies have the potential to make the internet more accessible to people in developing countries and under-served populations.

Potential Use Cases of Web 3

There are many potential use cases for Web 3, as it has the potential to disrupt and transform various industries. Some examples of future use cases include:

Decentralized Finance (DeFi): Web3 technologies can create decentralized financial systems and services that operate on the blockchain, such as lending, borrowing, and trading platforms.

Supply Chain Management: Web3 technologies can create a more transparent, efficient, and secure supply chain by using smart contracts and decentralized data storage to track products from origin to delivery.

Identity and Access Management: Web3 technologies can create decentralized identity and access management systems, allowing individuals more control over their data and digital identities.

Gaming and NFTs: Web3 technologies can create unique digital assets, such as non-fungible tokens (NFTs), which can be used in gaming and other digital media applications.

Online Marketplaces: Web3 technologies can create decentralized online marketplaces where people can buy and sell goods and services directly without needing a central intermediary.

Governance: Web3 technologies can create decentralized governance systems, allowing for more democratic decision-making and greater organizational transparency.

Prediction Markets: Web3 technologies can be used to create decentralized prediction markets, where individuals can buy and sell shares in the outcome of an event.

Digital Collectibles and Art: Web3 technologies can create unique digital collectibles and art, which can be bought, sold, and traded on the blockchain.

Internet of Things: Web3 technologies can create decentralized networks of connected devices, allowing for greater security, privacy, and control over data and interactions.

Healthcare: Web3 technologies can be used to create decentralized healthcare systems, improving data security, privacy, and accessibility of patient information.

Example of Transition from Web 2, to Web 2.5 to Web 3

It may not be that straightforward to understand the difference between Web 2 and Web 3. 

So in the next sections, we are going to provide some examples, including a mention of Web 2.5. Which serves as a bridge between Web 2 and Web 3.

Web 2 Platforms

In Web2 platforms, you can read and write content. All the content belongs to the platform owners.

As a user, you can consume (read) the content created by the platform owners, or by guest content creators.

As a content creator, as a guest content creator, you are welcome and encouraged to create (write) content. However the content is owned by the platform owners.

Some platforms encourage quality content creation in the form of fiat or cryptocurrency rewards. 

As an example, Medium is a Web2 platform that encourages written quality content creation through fiat rewards. 

Medium
Platform for publishing and sharing written content, including articles, essays, and stories
Web2

Other Web2 platforms, like Publish0x or Hive, encourage content consumption (read) and content creation (write) through cryptocurrency rewards. 

While the rewards are paid in the form of cryptocurrencies, the platforms do not use any kind of blockchain technology, so they need to be considered Web2 platforms.

Hive.Blog
Decentralized social media platform built on the Hive blockchain
Web2
Publish0x
Agnostic publishing platform that rewards both authors and readers
Web2

Let’s not forget about Web2 video-sharing platforms, like YouTube or Rumble. 

Where anyone can create video content, and even earn fiat rewards, but all the content belongs to and is controlled by the platforms.

YouTube
Crypto Safety First Videos in YouTube
Web2
Rumble
Crypto Safety First Videos in Rumble
Web2

Web 2.5 Platforms

In Web2.5 platforms, you can read and write content. Still, the same as with Web2 platforms, all the content belongs to the platform owners. 

But in contrast to Web2 platforms, Web2.5 platforms do use some of the blockchain technology.

– As a user, you can consume (read) the content created by the platform owners, or by guest content creators. But most features, like following, liking, or earning rewards, require the user to log in through a blockchain transaction approval. And that requires the users to own a cryptocurrency wallet.

– As a content creator, as a guest content creator, you have the option to create (write) content. But only after login through a cryptocurrency wallet transaction approval. Still, as in Web2 platforms, the content you create is owned by the platform owners.

BulbApp.io
BULB pioneers Web3, promoting Write-to-Earn and Read-to-Earn on Solana blockchain
Web2.5

Web2.5 platforms are rather similar to Web2 platforms but with the twist that many features do require blockchain interactions.

– Web2.5 bridge the gap between Web2 and Web3 platforms. Because there is a very considerable jump between Web2 and Web3 technologies. So actually Web2.5 platforms follow a smart approach towards Web3 adoption.

– Web2.5 platforms can already use many blockchain features that are not available to Web3 platforms. Like NFT minting or blockchain identities.

Web 3 Platforms.

In Web3 platforms, you can read and write content. All content belongs to the content creators. And, the same as with Web2.5 platforms, Web 3 platforms use Web3 technology.

– As a user, you can consume (read) the content created by the content creators. But most features, like following, liking, or earning rewards, require for you to log in through a blockchain transaction approval. And, of course, that requires you to own a cryptocurrency wallet.

– As a content creator, you have the option to create (write) content, which is stored in the blockchain and belongs to a private key you own. This is, you own the content that you create. Of course, to create content you need to first login through a blockchain transaction approval. 

Mirror
Decentralized publishing platform for creating and owning NFTs (non-fungible tokens) that represent ownership in a piece of content or community.
Web3

The biggest feature of Web3 platforms is that all content belongs to the creators. So, there is no more dependency on Web2 platforms that control all the content and can enhance or block users’ content as better suits them.

But, the biggest disadvantage of Web3 platforms, for the time being, is that adoption is as slow as the blockchain adoption. It may take some years for Web2 users and creators to migrate to Web3.

Odysee
Decentralized video platform: Content freedom, blockchain integration and user privacy.
Web3

How can you Start Using Web 3?

The first step to using Web 3 is learning the basics about Blockchain, Cryptocurrencies, and Crypto Wallets. 

The basics can be learned within a few hours, or read and research, and do not forget to keep expanding your digital safety knowledge and good practices to stay safe during your Web 3 journey.

What is Cryptocurrency

Learn about cryptocurrencies, tokens and digital assets.
Knwoledge

Cryptocurrency wallet

Learn what is a Cryptocurrency wallet and how it work.
Knwoledge

What is the Blockchain?

Learn how a Blockchain works and the most important concepts.
Knwoledge

Create a Web 3 Crypto Wallet

The next step is to create a Web 3 wallet. 

And this is an important step because the wallet characteristics do have a significant influence on the wallet safety and usability:

– You need to learn about the different crypto wallets and choose the safest for your situation.

– And also, you need to know what a seed phrase is and why it is essential to take note of it and protect it from hacks, scams, and accidents.

The safest crypto wallet

Types of crypto wallets and how to choose the safest one for you.
KNOWLEDGE

What is a seed phrase?

Learn what is a seed phrase and why it is so important.
KNOWLEDGE

There are many wallets, but just a few give the option to purchase crypto using fiat (USD, EUR, GBP,…). 

For that first fiat-to-crypto purchase, you may consider Coinbase, one of the most known and used crypto wallets.

Coinbase crypto wallet

Hot wallets for desktops and mobile devices
Custodial

Install a Web 3 Browser

A Web 3 browser is a type of browser that is specifically designed to interact with decentralized applications (dApps) on the Web 3 network. 

It acts as an interface between users and dApps, allowing users to interact with dApps and access their functionality in a secure and user-friendly way.

Web 3 browsers typically provide built-in support for decentralized protocols and technologies, such as blockchain and peer-to-peer networking. 

They also often offer built-in wallet functionality, allowing users to securely manage their cryptocurrencies and digital assets.

Some famous examples of Web 3 browsers include Brave, Opera, and MetaMask. 

Brave is an open-source web browser designed to prioritize privacy and security for its users. 

Brave is also a Web 3 browser designed to interact with decentralized applications (dApps) on the Web 3 network.

Some key features of Brave include:

  1. Built-in ad blocker: Brave blocks unwanted ads and trackers, helping to protect user privacy and speed up browsing.

  2. Faster browsing: Brave’s privacy-focused approach results in faster page load times, as there are fewer ads and trackers to slow down the browsing experience.

  3. Built-in privacy protection: Brave includes a range of privacy-focused features, including an encrypted connection to the web and the ability to use Tor browsing for increased privacy.

  4. Web 3 compatibility: Brave provides built-in support for decentralized protocols and technologies, making it easier for users to interact with dApps and access their functionality on the Web 3 network.

  5. BAT token support: Brave uses the Basic Attention Token (BAT) to incentivize users and content creators, allowing users to earn tokens for their attention and content creators to receive tokens for their work.

Brave browser desktop

MetaMask is a browser extension and mobile wallet that provides a user-friendly interface for accessing decentralized applications (dApps) built on the Ethereum blockchain. 

It allows users to securely store, manage, and send Ethereum (ETH) and other Ethereum-based tokens and interact with dApps without running a full Ethereum node.

 MetaMask provides a simple and convenient way for users to participate in the decentralized ecosystem, making it easier to access decentralized finance (DeFi) applications, participate in decentralized autonomous organizations (DAOs), and more.

Metamask crypto wallet

Hot wallet for browser extension and mobile devices
Non-custodial

Install a Web 3 Search Engine

A Web 3 search engine is a decentralized search platform that operates on the Web 3 network. 

It aims to provide a more open, transparent, and equitable alternative to traditional centralized search engines like Google.

Web 3 search engines use blockchain technology and decentralized protocols to create a decentralized index of the web, and users can query the index to retrieve search results. 

They also aim to provide users with more control over their data and privacy, and they often reward users with tokens or cryptocurrency for their contributions to the network.

The goal of Web 3 search engines is to create a more decentralized and user-centric search experience, where users have more control over their data and where search results are not influenced by commercial or political interests. 

What is Presearch?

Presearch is a decentralized search engine that operates on the Web 3 network and uses blockchain technology and decentralized protocols to create a decentralized index of the web. Users can query the index to retrieve search results. 

The platform also incentivizes users to contribute to the network by rewarding them with Presearch tokens (PRE).

Presearch aims to create a more decentralized and user-centric search experience, where users have more control over their data and where search results are not influenced by commercial or political interests. 

Additionally, Presearch aims to provide a fairer revenue model for search results, where advertisers can directly target users based on their search history and interests, without the need for intermediaries.

Presearch Web 3 search engine rewards

Where can you Learn More About Web 3?

If you are a developer, have technical skills, and maybe would like to work on Web 3 companies, you may consider the following:

– Web 3 Foundation website: This is the website of the Web 3 Foundation, the organization behind the development of Web 3 technology. It provides an overview of the Web 3 vision and information on the technology and projects being developed as part of the Web 3 ecosystem.

– Online forums and communities: Websites like Reddit, GitHub, and StackExchange are great places to engage with the Web 3 community and learn more about the technology and its potential applications.

– Online courses and tutorials: Websites like Udemy, Coursera, and YouTube offer a wide range of courses and tutorials that can help you learn more about Web 3 technology and how to build dApps.

– Conferences and events: Attending Web 3-focused conferences and events, such as Devcon and ETHGlobal, can provide opportunities to learn from experts in the field and engage with the Web 3 community.

But, if you are starting or want to start with Web 3 without diving deep into the technical aspects, you may try a more easy-going approach by watching some educational videos or reading some books during your spare time.

Web 3 Frequently Asked Questions (FAQ)

We can also learn from the questions of other people. Because some of the questions may raise topics, we haven’t thought about yet.

What is the difference between Web 3, Web3 and Web3.0?

The is no significant difference between the terms ‘Web 3’, ‘Web3’, and ‘Web 3.0’.

The three terms refer to the third generation of the World Wide Web, characterized by decentralized technologies such as blockchain and smart contracts to enable a new form of interaction and commerce. 

But, it said that Web3 is more commonly used in the industry and used when discussing the technical stack or technologies.

Web 3, the decentralized web, is a vision of a decentralized internet and is used when discussing the concept of the next evolution of the internet.

And Web 3.0, the semantic web, is used to emphasize the significance of the new internet version as a significant change from the current version of the net.

What are dApps?

dApps, or decentralized applications, run on a decentralized network, such as the blockchain. 

Unlike centralized applications, which are controlled by a single entity, dApps are decentralized and controlled by a network of nodes.

What is the difference between Metaverse and Web 3?

Metaverse and Web 3 are related but distinct concepts.

Web 3 refers to the next evolution of the internet, characterized by integrating data and intelligence to create a more sophisticated and user-friendly experience. 

It also refers to the decentralized and distributed nature of the internet, where data and content are stored and managed across many nodes rather than being controlled by a single entity.

Metaverse, on the other hand, refers to a virtual world or a collective space created by the convergence of virtual reality (VR), augmented reality (AR), and other technologies. 

It is a shared, immersive, and interactive 3D space where users can interact with digital assets, content, and each other.

The metaverse can be seen as an application of Web 3 technologies, as it leverages decentralized systems and data integration to create a more immersive and interactive experience.

Has this post been of value to you?

If the answer is yes, and you think that it will be of value to someone else, please share it:

Thanks for sharing,

and promoting crypto safety and digital security.

Are you looking for additional information about the same or similar topics?

Please, if you have one more minute, consider leaving us feedback

We would love to hear your opinion.

How do you rank the content of this page?

Is there anything else that you would like to tell us:

– Is there any other topic of your interest that we should cover?

– Is there something we should be aware of?

Please fill out the form below or send us an email to feedback@cryptosafetyfirst.com