I believe life is a continuous journey of learning. I'm a strong advocate for self education. A good way to retain information is by teaching others the knowledge you've acquired. I decided to join a challenge that resonates with me #100DaysofWeb3. By joining this challenge, I'll be acquiring new skills & education all while sharing my research with you along the way.
Web1->Web2->Web3
Web 1 was created by the Defense Advanced Research Projects Agency (DARPA). It was the first form of internet society experienced. Internet in the beginning was just a bunch of webpages without many visuals. These webpages were joined by what we call hyperlinks. Everything was extremely simple back then. Did you know advertisements were banned on web1? Theres still a few web1 webpages floating on the internet you can view but the rest are in an archive library.
When web2 came into fruition it brought on a whole new way of living for us. This fostered in a generation of content creators. We were the ones bringing the content to the internet instead of a few entities curating it for us on their webpages. Web2 birthed well known platforms like Facebook, Twitter, Youtube & many other sites. My favorite was Myspace because it gave the user the ability to code & design their own profile. A moment of silence for Myspace 🙏
When you take a look at web2 the current way we use the internet today you'll see a lot of flaws. On web2 everything is controlled & centralized by an entity. Our precious data is being exploited. Unfortunately, on web2 the entity has complete control & ownership of your personal data. This entity has free will to use your data however they like. Doesn't sound like a win/win situation to me does it?
Now let's examine web3 together. On web3 people have full control over their data and is censor free! To some this might not be a big deal but to others it surely is! Your personal data is important. Having companies steal your personal data to market you ads & sell your data to other entities for a profit sounds illegal haha.
Introduction to Web3
Web version 3 or "Web3" is a decentralized peer to peer version of the current internet web2. Web3 is still currently in the early development stages. What's the main tech behind it? Blockchain! Not sure what a blockchain is? Check out my previous blog where I break it down for you blockchain technology Current blockchain smart contract platforms that are leading the way so far are Bitcoin, Ethereum, EOS & TRON.
There are several applications Web3 will run on which are decentralized networks, blockchains & combo of the two that forms crypto economic protocols. This is what dapps or decentralized apps get their name.
Web3 already has many dapps that are available for us to use. The most popular is DeFi short for decentralized finance. DeFi allows users to lend and borrow, invest, make predications & trade crypto assets. Theres already a whole gaming/gambling community on Web3 right now too.
My personal favorite aspect of web3 is our money is instant, permissionless & global. Currently, we rely on outdated traditional financial networks that are tied to governments. It can take days to receive an important deposit. Web3 is more innovative & giving the people the control they deserve to have over their own data, content & money.
