The internet as we know it has evolved exponentially and has seen changes over the decades. Such changes brought about the iterations of the web; Web1, Web2, and Web3.
Web 1.0
Between the periods of 1990–2004, was the Web1 era, the first iteration of the World Wide Web. Web1 is a version of the web, based on a read-only protocol. This means that the users of web1 were consumers of content and could only read the information on the web and could not contribute. Web1 delivered only static websites and information instead of dynamic, to its users. This left no room for interactivity between the users and servers. The most visible instances of Web1 include MySpace and LiveJournal.
Web 2.0
The web in its present form is referred to as Web2 (2004 — NOW). You can consider Web2 as an upgrade of its predecessor. Web2 evolved to be read-write in place of read-only. Instead of users being strictly consumers of content, they could also become content creators. This brings about interactivity as more people come online to share their thoughts, comment, form communities, etcetera.
Features of Web 2.0
- It entails dynamic websites and information instead of static ones.
- It encourages communication and interaction through commenting, blogging, social media, etcetera.
- It gives users feedback based on the user’s input.
- It is mostly centralized.
- Users do not own their content.
- User data is centralized and can be exploited.
- It birthed the advertising-driven revenue model.
Examples of web2 sites include Wikipedia, Twitter, and Facebook.
Web 3.0
There is no clear-cut or standard definition of web3. It is simply ideas of evolution for the next iteration of the web. If web1 was Read-only, Web2; read-write, Web3 would be read-write-own. How does web3 do this? By giving ownership of content back to users through blockchains, cryptocurrencies, and NFTs.
Key concepts in Web3
Decentralization: Unlike web2 which is a social-based, centralized technology controlled by Big Techs, Web3 is decentralized as ownership is apportioned amongst its builders and users. Web3 applications make use of either blockchains, forms of cryptography, or decentralized networks. These apps are referred to as Decentralized apps — DApp or dApp in short.
Decentralized autonomous organization (DAO): DAOs can be said to be the future of owning your data and platforms on the web. DAOs enable ownership through tokens. Just like shareholders, users with tokens get to decide on the future of the organization by voting, then a code automatically performs the voting outcome.
Native payments: In place of the tedious transactions through bank processes and centralized companies for electronic payments, Web3 makes use of crypto wallets like MetaMask for an anonymous and more secure means of payment transactions into web3 applications.
Identity: For the current web, access to websites and platforms require personal information like your phone number, e-mail, passwords, etcetera. However, identification in web3 works in such a way that all information would be tied to a single wallet address. Wallet addresses are completely anonymous unless the user decides to make them otherwise. The user can also choose to use the same wallet address across several DApps and their identity can be easily transferred across these apps which helps them build a personal reputation over time. Ethereum makes this easier with the “Sign-in with Ethereum” feature, as Ethereum provides a secure login across platforms.
Problems associated with Web3
Scalability: This is simply the ability of a network to manage a large number of transactions per second (TPS) without compromising decentralization or security. Due to the limit of transaction blocks on the blockchain, a problem in scalability arises.
Risk of increase in the rate of fraudulent activities: As payment transactions on web3 are kept secure and anonymous, this could pave a way for an easier method of carrying out inappropriate transactions without supervision from the government or any other third party.
User experience: Users of web3 must possess a common knowledge of several technical ideologies like the blockchain itself and be able to access it with relative ease.
