What Is Web3 All About? An Easy Explanation With Examples

This fantastic article was published in Forbes, credit to Mr. Bernard Marr. This is a good read for our community of startup enthusiasts and job seekers who are looking to understand Web3 industry.

First, there was web1 – aka the internet we all know and love. Then there was web2 – the user-generated web, heralded by the arrival of social media. Now, wherever we look, people are talking about web3 (or sometimes, web 3.0) – the supposed next big evolutionary leap forward of the internet. But what is it, exactly?

What is Web3 All About? An Easy Explanation With Examples
What is Web3 All About? An Easy Explanation With ExamplesADOBE STOCK

Well, opinions on this differ somewhat. Web3 is currently a work-in-progress and isn’t exactly defined yet. However, the main principle is that it will be decentralized – rather than controlled by governments and corporations, as is the case with today’s internet – and, to some extent, connected to the concept of the “metaverse.”

Before we start – just to avoid confusion – it’s worth mentioning that, until a few years ago, the term “web 3.0” was frequently used to describe what is now known as the “semantic web.” This was a concept put forward by the original “father of the internet,” Sir Tim Berners-Lee, for a machine-to-machine internet. Language is defined by its use, and the term is more frequently used to describe something else now. However, Berners-Lee’s concepts are considered to be a part of what we now call web3, although not the entirety of it.

What is the decentralized web?

Let’s look at decentralization first. Today, all of the infrastructure that the popular sites and hangouts we spend time on online are usually owned by corporations and, to some extent, controlled by regulations set out by governments. This is because this was the simplest way to build network infrastructure – someone pays to install servers and set up software on them that people want to access online, and then either charges us to use it or lets us use it for free, as long as we abide by their rules.

Today, we have other options, and in particular, we have blockchain technology. Blockchain is a relatively new method of storing data online, which is built around the two core concepts of encryption and distributed computing.

Head over to following link to continue reading.

Content retrieved from:

https://www.forbes.com/sites/bernardmarr/2022/01/24/what-is-web3-all-about-an-easy-explanation-with-examples/?sh=259baba52255

Bernard MarrFollow

Bernard Marr is an internationally best-selling author, popular keynote speaker, futurist, and a strategic business & technology advisor to governments and companies. He helps organisations improve their business performance, use data more intelligently, and understand the implications of new technologies such as artificial intelligence, big data, blockchains, and the Internet of Things. Why don’t you connect with Bernard on Twitter (@bernardmarr), LinkedIn (https://uk.linkedin.com/in/bernardmarr) or instagram (bernard.marr)

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