Nowadays in the world of technology, there is talk of Web3 or Web3.0 and big technology companies have joined the race, but do internet users know that this is Web3?
Initially, the websites were mostly red only, so the data flowed from the site to the user. This is called Web One.
Then technology companies like Facebook and Google introduced the web world with interactive platforms ie information started reaching from the website not only to the user but also from user to website and from user to web user. This is the web technology we are currently using and it is called Web Two.
Based on the information provided by the user through Web2, a platform retrieves information from the user’s attitudes and interests and then accordingly new platforms and targeted advertisements are displayed to the user. The same information is also sold to third parties. In this case, the user has no control over their data.
Web3 was first introduced in 2014 by Gavin Wood, co-founder of the cryptocurrency Ethereum. Web3 is a revolution in the world of the Internet that will bring more power to the Internet to the average user rather than to major platforms like Facebook and Google because Web3 is based on decentralization.
In the world of Web 3, information is stored in virtual digital wallets instead of data centers. Any user can integrate this digital wallet with Web3 apps. These apps run on blockchain technology, and if the user wants to disconnect from an app, they can simply sign off and remove their data from the app.
Web 3 developers also do not invest heavily in creating apps, so the technology is more independent. Cryptocurrency has also become more centralized and user friendly due to this technology.
Web3 technology is of great interest to companies whose investment in Web3 is growing exponentially. However, experts say that the investment of big tech companies will cause damage to Web3.