Introduction

These days, you may have heard the term web3 being mentioned in discussions about the future of the internet. But what exactly is web3, and what does it mean for you? In simple terms, web3 is like an upgraded version of the internet that aims to give you more control, privacy, and freedom to interact online.

Web3: Internet with a Twist

Web3 is about making the internet more user-centric and less controlled by corporation. In the current internet, known as WEB2, interactive media platforms and online services collect your data, contacts, location, even camera after asking for permission–so they have access to control and use it to run the business through advertisement or other types of alliances. With the existence of web3, many talented developers and industries want to put the power back into user’s hands and push the limitation of web2.

Get to know the surprising journey of web, from web1 to web3, on this article: The Evolution of Web: From Web1 to Web3

Decentalization and Blockchain

One of the key ideas behind web3 is decentralization. Instead of having one central authority in control, web3 uses a blockchain technology to distribute power among many users. Simply put, blockchain is like a digital ledger that keeps track of transactions and information securely and transparently which makes it harder for any single entity to manipulate or control the system.

Using the concept of decentralized transactions, web3 users are introduced to an alternative payment method called Cryptocurrency. There are tens of thousands of this cryptocurrency, such as BTC (Bitcoin), ETH (Ethereum), NEAR (Near Protocol), SOL (Solana), ASTR (Astar Network), DOT (Polkadot) which are enable peer-to-peer transactions without relying on banks or intermediaries. They allow you to have more direct control over your money and make online transactions more secure and efficient.

Furthermore, web3 brings the concept of digital ownership to the forefront. With the help of blockchain technology, you can have verifiable proof of owning digital assets like artwork, music, or even virtual real estate. This opens up many new possibilities for creators and collectors in the digital space.

Privacy and Personal Control

Web3 recognizes the importance of privacy and puts you in control of your personal data. If in web2, your data is not entirely yours, web3 aims to give full ownership of anything you post online including your data. The significant and preeminent concept of web3 is to protect your privacy.

Web3 can potentially transform various aspects of our lives, including finance, social media, gaming, and more. It offers an internet experience that values privacy, control, and participation. By embracing web3, you can take back ownership of your digital presence and become an active participant in the evolution of the internet.

The Future of Web3

Web3 represents a vision of the internet that prioritizes user empowerment, privacy, and collaboration. It brings together decentralization, blockchain technology, cryptocurrencies, and a user-centric approach to reshape the digital landscape. With web3, you can expect more control over your data and increased digital ownership. Are you ready for The New Era of web3?