What exactly is web3?

The term "Web3" is all about the internet evolving, focusing on new technologies like blockchain and decentralization. It's basically a fancy name created by smart people to say that it's the next big thing after what we're using now (Web2 for ex. facebook, google etc). So, when you hear "Web3," it's like hearing that it's the future of the internet.

Hence you can say, Web3 is a new era of the internet that uses new technologies. One important technology behind Web3 is called blockchain.

So, what exactly is a blockchain? Imagine it as a giant spreadsheet that everyone can see and use, similar to a Google Sheet. This is sometimes referred to as a ledger.

At the core of web3 is the blockchain. As we discussed earlier, this is similar to a massive spreadsheet that everyone can access. The technical term for this is "distributed ledger technology."

So, how does web3 differ from web2?

Web2 relies on centralized servers that can be vulnerable to hacking or manipulation. In contrast, web3 uses a decentralized and distributed database, like a blockchain. This means that transactions are verified by many nodes and recorded in a ledger that's open to everyone, making it extremely difficult for anyone to hack or tamper with the system.

Now, talking about web3, we can't overlook Bitcoin. Bitcoin, often regarded as the pioneer of cryptocurrencies, operates on the principles of decentralized blockchain technology or you can say that bitcoin is the first ever implementation of the blockchain. It serves as a prime example of how digital assets can be exchanged securely and transparently without the need for intermediaries or centralized authorities. Bitcoin's emergence has significantly influenced the development and adoption of web3 technologies, showcasing the potential for decentralized financial systems and digital currencies in the future of the internet.

"DO NOT WORRY ABOUT ANY ABOVE FANCY WEB3 TERMS IF YOU DIDNT GET IT. FOLLOW ALONG, WE ARE GOING TO DISCUSS EACH ONE OF THEM IN SUPER DETAIL. ONE BY ONE."

Now lets discuss what happened next! what after bitcoin?

Following Bitcoin, Vitalik Buterin took decentralization a step further by creating Ethereum. Ethereum is a blockchain platform that allows developers to build decentralized applications (dApps) on top of it. This means that beyond just digital currency, Ethereum enables the creation of various decentralized applications that can run without any central control or authority. Vitalik's vision expanded the possibilities of blockchain technology beyond cryptocurrencies, opening up a new era of decentralized innovation and programmable smart contracts.

In further articles, we are going to discuss more about ethereum blockchain but it can be applicable on other blochains too, because the fundamentals remains the same.

But before jumping into code stuff, take a few more moments to understand the actual need for Web3. Why is it important? Why does our current internet sucks?

The need for Web3, in simple terms, arises from the desire for a more secure, transparent, and inclusive internet. Web3 aims to address several key challenges of the current internet (Web2), such as centralized control by big corporations, privacy concerns, and vulnerability to data breaches. For example, suppose you open Google and search for 'hair fall' or say 'hair fall' a few times in front of Amazon's Alexa while she is off. Still, I bet she will listen to what you said. Then, the whole internet will be on your back. Somehow, they will manage to sell something to you, which you never even asked for. The actual problem is that they don't control only sales; they control your opinions about political parties, likes or dislikes, religions—basically everything. Indirectly, you become a puppet of some big tech giants.

By utilizing technologies like blockchain, Web3 offers decentralized platforms where users have more control over their data and transactions. It promotes trust through transparency and enables innovative applications like decentralized finance (DeFi) and non-fungible tokens (NFTs).

Ultimately, Web3 strives to empower individuals and communities by reimagining the internet as a decentralized and user-centric ecosystem.

Now I am confident that you know at least why you should start learning about Web3, why Web3 is the future, and most importantly, WHAT EXACTLY IS WEB3

Lets Fucking Gooooooo !!! Get ready for Next blog & stay tuned with me!!!