Web1 and Web2 technologies are well known, but Web3 takes the Internet to new heights. The term “web” refers to the popular WWW – World Wide Web. However, we invented Web1 and Web2 as phases of the Internet over the years, but now supporters have gone one step further with the introduction of Web3.
Web1, the initial version of the Internet, was established in the 1990s and grew into Web2, which is now in use. We were able to access Web2 on our pocket-friendly cell phones and tablets, and we were able to attain numerous milestones by utilizing Web2.
Only recently did scientists feel compelled to develop Web3 for decentralized applications. And now we’re on the edge of implementing Web3 earlier than planned. We shall unravel the fundamental concepts of Web3 and explain how they relate to Blockchain Software development in this post.
What is web3?
Gavin Wood, co-founder of Ethereum, a well-known cryptocurrency token, introduced the concept of Web3 to the public in 2014. Gavin’s invention is unquestionably the Internet’s revolution, complete with decentralized elements. This unique Internet capability explains the consequences of Web1 and Web2.
Following the success of Web1’s basic internet service, we launched Web2 to oppose further advances toward a more user-friendly Internet. As a result, Web 3.0 is the solution to all technical developments characterized by security, transparency, decentralization, and immutability. In this situation, control is decentralized, as opposed to capitalized control in Web2.
Another distinguishing feature is platform ownership, with Web1 comprising read-only criteria, Web2 involving reading and writing, and Web3 incorporating read, write, and ownership aspects.
Web 3.0 Technology’s Notable Features
A data-driven Semantic web is a third-generation internet that is decentralized and open-source. Sir Tim Berners-Lee, known as the “Father of the Internet,” created the term “semantic web.” The essential aspects of Web3 technology that are closely related to Blockchain technology are as follows:
Decentralized Web 3.0 is viewed as an open decentralized platform that outperforms the limits of Web 2.0 significantly. By removing the monopoly enforced by larger firms, the decentralized infrastructure determines the Internet’s controllability.
Payments in cryptocurrency
Web3 is yet another excellent cryptocurrency payment option because it substitutes traditional banking features with decentralized financing, which secures and accelerates global transactions.
Transparency
The Web 3 space is constructed with tools and protocols that do not require third-party involvement, resulting in a perfect transparent platform. Web3 developers in Dubai offer a solid framework that includes blockchain technology.
Permissionless
Web3 also provides permissionless tools and technologies, which open the door to a variety of potential in the realm of decentralized commerce.
Secured
Because of its decentralized structure, Secured Web3 is conducive to Blockchain technology, delivering unprecedented security and transparency for Blockchain applications.
Reliable
Web3 technology ensures a trustworthy source of Blockchain application development, garnering clients’ trust by promising to eliminate the fear of fraud.
The advantages of designing a Blockchain application with Web3 technology
Web3 is one of the Internet revolutions that is moving in tandem with Blockchain technology, hastening the process of developing Blockchain applications. The Web3 paradigm manages and controls heavy traffic and big volumes of data effectively.
This technology feature is expected to strive as a third-generation internet model with direct engagement with people in order to promote valued participation.
- Exclusive ownership
The core of Web3 technology is centered on the concept of ownership, which was severely lacking in Web1 and Web2 versions. Despite the in-game asset functionality of Web2 technology, gamers are prohibited from selling outside the gaming platform, providing the image of a Play-to-earn gaming experience. This capacity could be improved with the usage of Web3 technology.
- Complete resistance
Another downside of early Web versions is the limitation on content creation, which limits the source of income for Web developers. In contrast, because the data is securely stored on the Blockchain network, the issues of content filtration are fully avoided with Web3. As a result, this functionality allows Web3 developers to begin or resume work without losing data.
- Unique identity
We understand how tough it is to log in to multiple social media accounts. If a single credential is lost, the entire social media account, including Twitter, Facebook, and Instagram, is jeopardized. Such flaws, however, may be ironed out as Web3 technology gains control over digital identities. An Ethereum address and an ENS profile serve as Web3’s unique identifier.
- Cryptocurrency payments
As previously stated, cryptocurrency payments with blockchain-enabled trading funds are permitted in the Web3 environment. Ethereum, Web3’s cryptocurrency, enables global commerce without the involvement of third parties.
- Reliable interface
Web3 is the most dependable user interface we’ve ever seen. The future is unquestionably knocking on our door, bringing with it the enormous possibilities of new inventions. Web3 developers can now specify ownership purely using low-cost, secure methods. Deploying smart contracts also involves automated Blockchain application development choices for better results.
Also Read: 3 Incredible Advantages of Metaverse for the Automotive Industry
Wrapping Up
Web3 Technology has undoubtedly only recently begun its journey into the Internet sphere. Great opportunities await business owners that employ Web3 space to construct Blockchain apps. Web3 takes advantage of its boundless potential and provides bespoke Blockchain Application Development services.
