Over the last three decades, the internet has developed into an indispensable resource used by people all around the world. From humble beginnings that consisted of static domains and little interactivity, decentralized platforms have given rise to what we know today as Web3.
But why Web3? In this article, the different stages of development of the web will be highlighted.
Web1: The Origin of the Internet (1990–2005)
Also known as the read-only web, this is where the earliest version of the internet emerged. It consisted of web pages that were interconnected through hyperlinks. Conveniences that we enjoy today, such as logging in to different platforms to interactivity exchange information and services, were non-existent.
Some key features include:
- Static websites where people read about things that interested them
- Lack of advertisements
- Little to no infrastructure or visuals
- Mostly used by corporations for the benefit of their staff
Over time, as the popularity of the internet exploded, the internet moved towards the second stage of its development. Web2 is in use by the majority of people today.
Web2: The Data Age (2006 — Today)
Web2 is what the average person would describe as “the internet”, with it being far more user-friendly and tailored towards individuals. With the development of Web2, people were able to generate and distribute content throughout the world. This saw a colossal rise in social media platforms and online communities, which allowed for data collection like never before. Corporate platforms dominate the space even today, turning the web into a very centralized space.
The key features of Web2 are as follows:
- APIs (Application Programming Interfaces) being developed in order to allow self-usage
- Users creating and distributing content through corporate platforms
- Dynamic content that is responsive to user input
- Collecting, sorting, and selling of user data, often resulting in a concerning lack of privacy
With Web2 having fully matured and users growing more aware of their digital footprint, a paradigm shift towards a new internet age has begun. Web3 represents this change in user attitude and is likely the most talked about stage of development today.
Web3: The Decentralized Internet (The future)
While still based on similar concepts of creating and distributing content, Web3 incorporates concepts such as decentralization, distributed ledger technologies, and token-based economics. Compared to Web2, where data and content are centralized around a small group of megacorporations (also known as “Big Tech”), Web3 returns control over data to the average user.
These are the key features of Web3:
- Web3 is decentralized, meaning ownership of content is distributed amongst users
- Web3 is trustless and permissionless, so everyone gets to participate and operate based on incentives instead of relying on trusted third parties
- Tokens can be used for native payment through blockchain technology, instead of relying on banking infrastructure
- Resistant to censorship: while platforms can censor creators in Web2, Web3 allows for you to take your reputation with you to different platforms. This is due to the fact that data is recorded on the blockchain and can just be incorporated somewhere else, meaning you do not lose your following and reputation.
All in all, we are still in the early stages of Web3 development. Infrastructure is still lacking for Web3 to be truly decentralized. However, ideas are being developed at an incredible rate, and we are just beginning to see what Web3 technologies are truly capable of. There are likely to be drastic changes in how we utilize the internet in the near future!
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At Paywong, we are building a community in order to make Web3 accessible to everyone. We regularly post articles on Medium about different Web3 topics, so give us a follow!
