It is a popular misconception that blockchain and Web 3.0 are the same. In our previous article, we explained that blockchain is an emerging technology which makes use of cryptography to secure and maintain a distributed ledger of transactions across a network of computers. Web 3.0, on the other hand, refers to a vision for the future of the internet, which emphasises decentralisation, privacy and user control. So, even though they are closely related, whereby blockchain technology plays a crucial part of the Web 3.0 vision, they are in fact different things entirely. Before we expand on the definition of Web 3.0, let’s first explore the different stages of the internet through time and how it evolved from Web 1.0 to Web 3.0.
The internet (World Wide Web) was invented in 1989, at CERN, Geneva, by Tim Berners-Lee who was involved in the development of protocols. He envisioned that the internet protocol will allow information to be exchanged from any corner of the world.
The invention of the internet brought about the concept of Web 1.0, which became widely adopted between 1990-2004. Web 1.0 was the initial stage of the internet and consisted of simple, static websites owned by internet companies with limited user interaction as individuals rarely created content. The majority of the content was text-based and the user experience was limited to reading information and clicking on hyperlinks. Hence, the Web 1.0 era is also known as ‘read-only’.
The advent of Web 2.0 began with the emergence of social media websites like Facebook, Youtube, and Twitter. Such social media websites allow individuals to both read content and also share user-generated content, which makes the internet more interactive and dynamic. Furthermore, the platforms allow users to interact with each other, which further produces organic content. Due to how the network effect benefits social media websites, popular internet social media companies grew exponentially and began to control a disproportionate amount of traffic and value. This means that even though users could create content, they did not own it and risk censorship.
With the rise of tech giants today, individuals are beginning to realise that no one party should possess that much power. The idea of “sovereign individual”, which means power to the individuals, gained popularity lately which led to the birth of Web 3.0, also known as "Read-Write-Own Web". Web 3.0 allow users to not only read and write content but also own and control their data. Web 3.0 is designed to be more decentralised, with blockchain technology, enabling users to have full control over their data, such as their online identity, personal information, and digital assets.
Blockchain technology is critical for Web 3.0 because it provides the underlying infrastructure for creating a more secure, decentralised, and transparent internet. This has the potential to revolutionise the way we interact with each other and manage our personal data, enabling us to have greater control over our online presence and digital assets. At this point, you may be wondering how you can get involved in the Web 3.0 revolution. At Metacamp, our courses across different verticals help prepare and nurture blockchain talents and you can be one of them! Wait no further and join our courses today!
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