How Close We Are to a New Better Internet Web3?

How Close We are to a New Better Internet Web3

If you’re interested in blockchain technology, then the Web3 crypto world seems like the most organic thing to talk about all the time, insert it in your Twitter profile, and other social media platforms. 

Well, in this article, you will see how to invest in Web3, and to see how our world can be entirely taken by storm by this new piece of tech.

What is Web3 (or Web3.0)?

To summarize, Web3 is a decentralized web in which users are the owners of their data, identities, and assets. This means that all interactions between parties happen through transparent smart contracts — ensuring fairness at all times. While it is associated with the cryptocurrency market, the truth is that Web2 was coined to be dominated by “Big Tech” while Web3 is all about bringing the power back to people. It’s a very strong concept that enables people to buy Bitcoin with paybis and then do whatever they want with it.   

How did the idea come through?

The term was flipped in 2014, but Web3 will never be able to achieve mass adoption without support from its community. While the non-fungible tokens and the publicity stunts build up hype, it’s actually really simple to do good for Web3 — all you need to do is be an advocate online! Many people are already doing it, and it helps build a better society. 

How is Ethereum changing the scene?

Web 3.0 will usher in the era of decentralized applications (dApps) which can be programmed to run smart contracts and distributed across an untraceable network. Traditionally, popular consumerist brands — Apple, Google, Facebook (not to mention Microsoft and Amazon too) — have run their entire business on centralized servers, but that model isn’t suited for cryptocurrency or blockchain apps. Cryptocurrency dApps can only be built on a decentralized blockchain platform because they require users to transmit valuable data directly with one another. Ethereum is the key to success for dApps. 

No more DDoS attacks

Web3.0 is going to make Distributed Denial of Service (DDoS) attacks a thing of the past — that’s because it will be decentralized, with continuous data processing and no one being able to block the system in order to stop a service. It will have multiple backups to prevent server failure, with no single hardware infrastructure holding down the entire system.

A true ownership

Web3 is a way that you can take full control of your online and digital presence. Imagine you’re playing a Web2 game on the internet. If you purchase something in that game — like, say, a sword or an armor set — those items are tied to your account. That means if the company that created the game deletes it, you’ll lose what you spent money on. Well, this is not going to happen in Web3, since everything is owned by you, and it shall never be taken, once you have purchased it.

No more censorship

Web3 is a decentralized internet based on blockchain technology. This can grant the freedom to surf, communicate, and interact. Users don’t need to trade their privacy for access to content and services, instead, they always remain in control of their information. In Web2, users would often get banned for sharing their political views or simply not adhering to the company policy. There are not one or two cases were Facebook (now Meta) users were banned for false accusations, and Twitter accounts were deleted for not being managed according to the “best practices.” Your data is yours. End of story.

Being part of an organization

Whether talking about people with disabilities, or the life of turtles, being part of an organization is a fantastic feeling. The traditional ways of doing business have all sorts of boundaries we can’t cross, but technology has unlocked all kinds of new possibilities for us. As well as the possibility to own our data in Web3, we can use tokens as shares in a company — DAOs, or Decentralized Autonomous Organizations. With a DAO, you’re given decision-making ability over a platform by pooling resources to put towards your vision. Users vote with their tokens and the code automatically executes the results of those votes.

No intermediaries

The whole idea of Web2 is to work with banks and payment processors. However, there are flaws in this model. A major problem — one that plagues all centralized financial models — is exclusiveness; you need bank accounts or credit cards to use the service. With Web3, it’s all about native payments, like paying with cryptocurrencies.

Summary

There are so many advantages of using Web3. While the world is not fully ready yet, many people are heavily advocating for its adoption, as it will change lives as we see it.

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