Web 3. The Future Of Decentralized Internet Explained.

Many people are not familiar with the concept of Web3, but allow me to welcome you to this complex, & often contradictory decentralized world. Web3 represents the future of the internet. But Let's First Talk About Web 1 & 2

Web1.0, dominated the 1990s, it was primarily a read-only platform where static web pages could be viewed but not modified. This transformed into Web2.0, the internet of the present. Web2.0 changed things up in the 2000s, taking the internet from read-only to read/write.

It made it possible to post your own blog, comment on others' posts, and create social media profiles. However, Web2.0 is largely controlled by a few large platforms, which own users' data & content, in a way they own you too. Ok, But What Is Web 3?

Web3 combines the functionality of Web2.0 with the decentralization of Web1.0, creating a community-driven and self-governing internet. Web3 promises to give back some of the ownership that web2.0 are in control of, through tokens and voting rights by rewiring how the web works.

Web3 creates a read-write-owned system based on blockchain, a shared database that enables decentralization, democracy, & peer-to-peer interaction. The best-known examples of what this will all look like are cryptocurrencies, including bitcoin, ether, & Tether.

There are also non-fungible tokens like NFTs, which allow ownership of digital objects, Decentralized Finance (DeFi), and Distributed Autonomous Organizations (DAOs).

In contrast to Web2.0, where users trade their data for free services, Web3 users will earn tokens and cryptocurrency for contributing online, such as reporting bugs or validating transactions through mining.

These tokens can be traded with other users, creating a self-sustaining economic ecosystem.

Web3.0 is currently being promoted as the future of the internet, but there are still some red flags to be aware of. However, as long as one knows where to look, the future remains bright, with blockchain and crypto at the forefront.

If you enjoyed reading this kindly me for more also don't forget to Drop your comments.