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WEB3, its advantages will benefit everyone

Oct 20, 2021
4.88 (744 votes)

Web3, the future of the web starts now thanks to an internet that could live a real revolution.

WEB3, all blockchain protocols that provide web services3 are experiencing a surge in adoption, and consequently, an increase in revenue.

It is quite normal, who is not revolted by the lack of privacy on the Internet, by the sale of his personal data, etc.

Whats is Web3?

Web3, in the context of Ethereum, refers to decentralized apps that run on the blockchain. These are apps that allow anyone to participate without monetising their personal data.

WEB3

WEB3, why its adoption will be fast?

Web3 is a decentralized Internet designed for the future, and already home to several protocols.

Unlike Web2 applications that are centralized and highly controlled by tech giants, Web3 developers deploy their code on decentralized blockchains, nodes or peer-to-peer networks.

This third-generation Internet offers a range of services such as decentralized data storage, data analysis, streaming and cloud services. Anonymity and, of course, privacy will benefit all sectors and are therefore also a hot DeFi news.

Indeed, the services of monopoly technology companies like Google and Facebook are convenient for most users.

However, there is a growing demand from some Internet users who are more concerned about privacy, and who do not want their personal information to be collected by these companies for profit, to be able to browse the Internet without being tracked by Google and others.

Difference between second and third generation internet:

There are some fundamental differences between web2 and web3, but the main one, of course, is the decentralization that is at the heart of the latter.

An important point to understand, for example, is that in Web3, developers generally do not build and deploy applications that run on a single server or store their data in a single database, as is the case in Web2.

Instead, web3 applications either run on blockchains, decentralized networks of many peer to peer nodes (servers), or a combination of the two that forms a cryptoeconomic protocol. These apps are often referred to as dapps (decentralized apps), and you will see that term used often in the web3 space.

It is also interesting to note that when we hear about web3, we also hear about crypto-currency. This is because crypto-currency plays an important role in many of these protocols. It provides a financial incentive (tokens) for anyone who wants to participate in the creation, governance, contribution or improvement of one of the projects themselves.

This third generation of internet gives access to a wide variety of different services. These include: storage, bandwidth, identity, hosting and other web services commonly provided by cloud providers in the past.

The interesting thing about WEB3 is that anyone can make a living participating in the protocol in a variety of ways, both technical and non-technical.

WEB3, many benefits to the consumer:

Consumers of the service typically pay to use the protocol, the same way they would pay a cloud service provider like AWS today. Except that in web3, the money goes directly to the network participants.

In this case, as with many forms of decentralization, you’ll find that unnecessary and often inefficient middlemen are cut out.

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