WEB3: The decentralized internet explained

#Web3 has been a subject on the trend table on the internet we use today, this trend does not seem to end any time soon because of the exciting opportunities and future trends that the internet to come will offer.

First, that you are reading this means that you are a participant in the modern-day web. The internet we use today is very different from what it was years ago.

Just as I was very curious about this subject, I know many more still need some explanation and this is the reason for this article.

So, what is the progression and transformation process of this internet change over time, and more importantly, where are we heading next? What should we expect ? and why should this even matter?

Before I get to explain what Web 3 is, It is important to go back to the history of the internet and see the process of transformation from Web 1 > Web 2 >> Web3.

So here we go:

Web1

The internet was invented by Sir Tim Berners-Lee in 1989. It was intended to serve as an information system of interlinked web pages that are publicly accessible on the internet and give its users access to a wide array of documents. The function of the internet is to search for content and display it on the user’s screen based on their demand and such content may be in the form of texts, links, and images. Web 1 is referred to as a read-only/static website. This means that the web did not accommodate user interaction and only allowed users to search the website and read.

The Web 1 era ran roughly from 1991 to 2004.

Web 2

Web2 is known as the interactive and social web where different people across different locations can interact and collaborate. You don’t have to be a developer to participate in the creation process in web2. Many apps are designed in such a way that anyone can simply create thought and share it with the rest of the world to read, watch, interact with, and comment on.

Examples of Web 2 are YouTube, Amazon, Google, Facebook, and Twitter. These tech companies use the personal data of their users and interaction for personalized ads and various marketing practices without their consent. The exploitation and centralization of user data is fundamental to the functioning of Web2 where you don’t have any control over your data or how it is stored. In fact. This data is then owned and controlled by companies in charge of these platforms.

Users who live in countries where the negative implications of free expression are a concern to their government may experience internet take over because it is centralized. Governments can easily interfere, control, or shut down applications because they use centralized servers.

On a positive note, Web2 has turned several unknown innovators, ideologists, into “overnight” influencers and sensations. Think about Khaby Lame, a TIk Toker with about 140 million followers, who silently mocks over complicated life hacks without saying anything. Because this platform connects so many people, it has given talents the chance to be noticed and acknowledged, making their work extremely valuable and quickly converted to income.

Web2 is the read-write version of the internet, this era started from the inception of Facebook in 2004.

Web3

Web 3 is the next and third evolution of the internet, which will allow it to process information with human-like intelligence utilizing AI technologies, resulting in a more autonomous, intelligent, open, and secure web.

Web 3 is characterized by apps and services built on blockchain technology, this takes away the control that centralized tech companies have over users’ data. This grants users control over their own data thus creating a public record of users’ activity on the blockchain system.

You might still be wondering, What are Blockchains — Blockchains are digital ledgers that keep records of digital transactions and can be viewed publicly.

Saying it better, Web3 is Semantics + AI + Machine Learning + Permissionless systems which include blockchain. So, data will be interconnected in a decentralized form. So the features of Web 3 are decentralization, Artificial Intelligence, Machine learning, trustless and permissionless networks. It will also provide information that is more connected and ubiquitous.

The idea of Web 3 is to completely eliminate third parties with a goal of making searches on the internet faster, more efficient and also to provide a decentralized network for users.

Some Web 3 Terminologies:

Decentralized — This means that it runs on a distributed peer-to-peer model and no one entity can make a decision independently that can directly influence or change the course of the entire system.

Anonymous — meaning your Identity is of no significant importance to contribute to the blockchain protocol or system.

Verifiable — This means that the anticipated internet new age will be working with the blockchain protocols which are public ledgers that require transactions to be visible and verifiable by default.

Trustless — This means that there are processes in place that allow all actors in the system to agree on the protocol. Instead of being centralized in a single people or entity, power and trust are shared among the network’s stakeholders (e.g. developers, miners, and customers).

Self-governing — This means that blockchains rely only on the entirety of their network to verify an activity via consensus. However, specific systems, such as those used in decentralized autonomous organizations (DAOs) can be established to democratize decision-making

Permissionless — This means that it is open and available to everyone to participate in the consensus process that blockchains use to validate transactions and data. There will be no need for any central authority in the Web 3 blockchain. By creating an address, anyone will be able to join the network and participate in it. This will prevent people from being denied access based on their gender, income, sexual orientation, location, or other sociological criteria. It would also enable the movement of digital assets and wealth across borders in a timely and cost-effective manner.

Payments & Web3

Crypto tokens are introduced as a set of complete borderless and frictionless payment structures. Crypto payments has been able to enable true international interoperability between participants. They do not require you to hand over your sensitive information and personal data for you to transact.

Cryptocurrency wallets enable easy, anonymous, and secure integration for international payments and transactions into Web 3 applications. Solana offers a very fast transaction speed and costs just a little as transaction fees. Which is different from the present-day financial system that is characterized by some level of stress and delay.

How Identity Works in Web3

In decentralized Most of the time in web3 apps, identities will be tied to the wallet address of the user interacting with the application.

Unlike the Web2 internet that uses OAuth, email + password web2 authentication techniques require us to submit our sensitive and personal information just for the sake of accessing a platform or service. Wallet addresses are fully anonymous, but a user can decide to associate publicly with their wallet addresses.

My passion is to solve problems using blockchain technology, to do this, opportunities to learn should never be trivialized.

I am sincerely grateful for the opportunity from Blockgamess.gg with an unflinching partnership with Nextcoin which is adequately powered by the Zuri team

My goal is to be a reckoning voice in the web 3 space in a few years to come. This is because when Web 3 inevitably arrives fully, the internet will become exponentially more integrated into our daily lives. It will revolutionize the way we interact with the digital world, and it won’t simply affect individuals. Web 3 will have a tremendous impact on organizations, both traditional and disruptive.

I am excited to be here and I am looking forward to going further.

This is the future of the internet.

Follow me to watch my Web3 journey on Twitter