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What is Web3?

On a basic level, the idea behind Web3 is to add the world wide web as we know it, and add blockchain (the technology behind cryptocurrencies such as Bitcoin) to everything.
The web was once considered a utopia, where anyone can do anything, but supporters of Web3 say that it is now controlled by large companies and proprietary algorithms. Blockchain allows people to have fair ownership of their existence on the Internet. Niels Ten Oever of the University of Amsterdam said: "Web3 is a way to deal with the trauma of losing the great future that the Internet was once possible."
In 1989, Tim Berners-Lee launched the first network, the worldwide web, which allowed people with technical knowledge to put information online in a decentralized manner. Web 2.0 was first mentioned in a magazine article in 1999. It witnessed the development of easy-to-use tools that allowed anyone to create content online, not just experts, but at the cost of focusing on the technology we have today Giants such as Facebook and Google.
At the core of Web3 are distributed applications (or dapps) built using the Ethereum blockchain, which pays users to help keep the network online.
Zoe Scaman, founder of London-based strategy studio Bodacious and supporter of Web3, said that Dapps will play a role in Web3 similar to that of the App Store in unlocking the potential of the iPhone. Scarman said: "We need to eliminate friction and create a wide range of use cases. This will happen when more third-party developers start to release more blockchain-based dapps."
Among the current top five dapps, the most popular is the dapp that allows people to exchange cryptocurrencies, and the other is the dapp that trades non-fungible tokens (NFTs). The other three are games, similar to the early breakthrough successes achieved on the App Store, but with one key difference: You can get paid in cryptocurrency by playing these games.
Supporters say this is a bold new future that aims to seize control from large technology platforms and transfer power to ordinary citizens: this is a decentralized Internet, where the power of individuals exceeds that of individual companies. . The same concept also appeared behind the failed acquisition of copies of the U.S. Constitution last month.
Some people are skeptical of the utopia of Web3. Ten over said: "Web3 introduces resistance, but does not solve any real problems. Skeptics believe that many of the propositions behind Web3-such as distributed architecture and decentralization-can also be used without a blockchain. Better to achieve.
"If you build a distributed architecture on a centralized infrastructure, you won't suddenly decentralize the infrastructure," Ten over said. Although the network infrastructure is nominally decentralized, in fact, most of the Internet runs on servers hosted by a few companies (such as Amazon)-he said that the same situation also happens on Web3 because people run by a few Dapps hosted by the provider.
The promise of Web3 has yet to be resolved, and the term has been tightly grasped by those who want to make quick money. Even its supporters, like Scaman, have warned of scams and pump-and-dump schemes related to this term. "There are always people who want to make money," she said, "but there are also very talented people who create amazing things."

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