Web 3.0 is a new version of the internet. To understand this, we need to understand Web 1.0 and Web 2.0.

Web 1.0

Web 1.0 started in the 90s when the internet was created to read and publish basic content. If you wanted to read an article back then, you were supposed to simply click on the link, read the article and that was it.

Web 2.0

Then Web 2.0 came and it started allowing people to read, write and interact with each other on the internet. This was when social media platforms like Twitter, Facebook and Instagram came on board.

Then people realized that their personal data was being used by big tech companies like Google and Facebook for advertisement and other purposes and started complaining.

This was how the privacy issue with Web 2.0 became a bigger issue and how Web 3.0 came about.

Web 3.0

Web 3.0 is a major jump from the current generation of the internet (Web 2.0), in which data is largely centralized.

It is the phase of the internet that allows you to read, write and interact. It also gives people greater control of their content on the Internet.

This way, users will be able to sell the data generated from various sources, including mobile phones, tablets, desktops, and much more, through blockchain and decentralized data networks, while retaining ownership and control.

An example of Web3: Mirror.xyz

Now, what are blockchains?Blockchain is a public list of records. It stores information in batches called blocks. These blocks are linked together to form a continuous line. A chain of blocks. A blockchain. Each block is like a page of a record book.

Now What isn’t blockchain

Blockchain is NOT a cryptocurrency.

Blockchain is NOT a programming language.

Blockchain is NOT a cryptographic codification.

Blockchain is NOT an AI or Machine Learning technology.

Blockchain is NOT a Python library or framework.

Nope, nada, naa.

Let’s move on. But before I mention the word I’m about to,

Here’s the definition for immutable: unchanging over time or unable to be changed

Synonyms include: fixed — set — unchangeable — rigid — unshakeable — irremovable

So, again, what does blockchain do for me?

It works as an immutable (fixed, unchangeable, unshakeable) record of transactions that do not require to rely on any external authority like banks, governments, large corporations to validate the authenticity and integrity of the data.

As I mentioned earlier, Blockchain is a public database of information, that means there is no central body or single entity control (say Mark Zuckerberg) managing and controlling the database and evil laughing.

In fact, millions of users on the Internet help manage and maintain the records.

That’s decentralized and democratized for you, hah, take that Facebook!

So in a nutshell, these changes will create an open, trustless, and permissionless network. Let me explain if this sounds wild to you.

Open: It will be an open-source software built by an open and accessible community of developers and executed in the full view of the world.

Trustless: It will allow participants to interact publicly or privately without any third party butting in.

Permissionless: Neither users nor suppliers need any authorization from a governing body for participating.

These are the things we are already seeing today with decentralized finance (DeFi), metaverse and Non-fungible token (NFTs) and so on. However, we should note that this is just the beginning.

Problems we may face in Web 3.0

Web 3.0 could also have a disadvantage which is caused by the whole idea of decentralization. How do you hold a community, for instance, if something goes wrong with a Decentralized Autonomous Organizations (DAO).