“In the first part of our article, available on the page History of the Internet and the Web — Part 1, we presented the evolution of the Internet from its beginnings, through the development of Web 1.0, to Web 2.0. We discussed how the way we use the web has changed and what opportunities the subsequent stages of its development have brought. Now it is time to look to the future — Web 3.0, which promises even greater changes and modern solutions, emphasizing decentralization and privacy. Web 3.0 has the potential to revolutionize our daily online lives through data decentralization, enhanced user privacy, and the use of blockchain technology.
Decentralization and privacy are extremely important in the development of Web 3.0. Decentralization is the process of distributing power or control from a central point to many independent entities, while privacy refers to the protection of personal data and giving users control over who has access to it.
Web 3.0 is not just the next step in the evolution of the Internet but also a fundamental change in how data is processed and utilized. While Web 1.0 focused on static pages and Web 2.0 introduced interactivity and social media, Web 3.0 emphasizes decentralization, greater user control over their data, and the use of blockchain technology. Will Web 3.0 fulfill these promises and become the new standard, forever changing our online experiences?
Web 2.0
Web 2.0 is the second generation of Internet services, focusing on interactivity, collaboration, and user-generated content. It introduced social media platforms, blogs, wikis, and web applications, allowing users to actively participate in creating and sharing information.
How does Web 3.0 work?
Web3 operates in a decentralized manner. What does that mean? A decentralized network uses P2P (peer-to-peer) infrastructure, a network of connected devices without a single dominant node. In practice, this means that in Web3, there is no central server or controlling entity that can impose its rules or manipulate data. Instead, every network participant has equal access and control over the flow of information. This solution ensures the absence of control, greater transparency, and the security of user data.
In Web3, blockchains play a crucial role. Blockchains are distributed databases that record changes in the system transparently and immutably. Each transaction or change is recorded as a block, which is then linked to previous blocks, forming a chain. Blockchains are the foundation for creating an increasing number of applications and cryptocurrency trading. Due to their structure, blockchains eliminate the need for a trusted third party, as all operations are verified by the network of users.
Another branch of Web3 is personalized information and services delivered to users. This is handled by increasingly advanced machine learning and artificial intelligence (AI) techniques. The semantic web, part of Web3, enables highly precise search results and content tailored to individual user needs. This allows for delivering information and services that are exactly matched to user preferences and behaviors, significantly enhancing the online experience.
The term “Web 3.0” was coined by Gavin Wood, co-founder of Ethereum, in 2014. Web3 solves the trust problem by proposing a decentralized network based on blockchains, cryptocurrencies, and NFTs (non-fungible tokens), which puts power back into the hands of users. Instead of relying on central institutions, Web3 enables users to conduct transactions securely and transparently and control their data. This gives Web3 the potential to revolutionize how we use the Internet and manage our online resources.
Web 3.0
Web 3.0 is the next phase of Internet development, emphasizing decentralization and user data ownership, supported by blockchain technology. This gives users greater control over their data and increased privacy, eliminating intermediaries and increasing transparency on the web.
Key Features, Principles, and Rules of Web 3.0
Web 3.0 is characterized by several key principles that define its uniqueness and distinguish it from previous versions of the Internet. These principles include decentralization, permissionlessness, native payments, and a lack of trust in central intermediaries. Below is a detailed description of these principles.
Decentralization
Web 3.0 is based on blockchain technology, which allows for the creation of decentralized applications (dApps). Unlike the traditional model, where data and applications are controlled by central servers, in Web 3.0, they are distributed across a peer-to-peer network. This means that network ownership is shared among its creators and users, increasing security, reducing the risk of censorship, and eliminating intermediaries such as financial institutions.
Permissionlessness
Web 3.0 is accessible to everyone, meaning anyone can participate in this network. There is no need for special permissions or consent to become part of the Web3 ecosystem. This openness eliminates access barriers, allowing every user full participation in the network without excluding anyone.
Native Payments
One of the foundations of Web 3.0 is the use of cryptocurrencies for online payments. Instead of relying on traditional banks and payment processors, Web3 enables native payments through digital currencies. This not only speeds up transaction processes but also reduces costs and increases payment accessibility globally.
Trustlessness
Web 3.0 operates on the principle of economic mechanisms and incentives instead of trusted third parties. Thanks to blockchain technology, all transactions and interactions are transparent and verified by the network itself, eliminating the need to trust central intermediaries. Users can be sure that their data is safe and the system operates according to defined rules.
Blockchain Technology
Blockchain is a distributed database that records changes in the system in interconnected blocks. This technology, first used in the cryptocurrency Bitcoin in 2009, ensures that data is stored immutably and securely. Blockchain is the foundation for many Web3 applications and cryptocurrency trading.
Token-Based Economy
In the Web 3.0 ecosystem, digital tokens play a key role, which are records in blockchain chains. These tokens can be transferred or sold by their owners. Non-fungible tokens (NFTs) are a specific type of token that usually refer to digital files such as images or videos, allowing the creation of unique and rare digital assets.
Smart Contracts
Smart contracts are programs that automatically execute predefined agreements in real-time when certain criteria are met. They enable the fulfillment of any agreements without the need to trust third parties. Smart contracts increase transaction efficiency and security.
Semantic Web
Web 3.0 uses metadata that allows better understanding and processing of information by machines. The semantic web allows search engines and applications to provide more precise and contextual results, significantly improving the quality of Internet use.
Artificial Intelligence and Machine Learning
Web 3.0 utilizes advanced AI and machine learning technologies to analyze and process large amounts of data. This allows for the creation of more personalized services, such as digital assistants or content recommendations, increasing the value and efficiency of web usage.
Security and Privacy
Thanks to blockchain technology and advanced cryptographic mechanisms, Web 3.0 offers better data protection. Users have greater control over their data, increasing their privacy and security.
Web 3.0 is a new vision of the Internet that emphasizes decentralization and user data ownership. By combining these key principles and advanced technologies, Web3 has the potential to revolutionize how we use the Internet, making it more secure, transparent, and accessible to everyone.
Native Payments
Native payments are a form of payment integrated directly with the device's operating system or application, enabling quick and seamless transactions without the need to use external payment services. Examples of such payments are Apple Pay, Google Pay, or mobile payments built into e-commerce applications.
The Importance of Web3: Why Web 3.0 Matters
The Right to Own Your Digital Assets
Web3 gives users the right to own their digital assets in an unprecedented way. For example, let’s assume you play a game based on Web2. If you buy an item in the game, it is directly linked to your account. If the game creators decide to remove your account, you lose those items. Moreover, if you stop playing the game, you lose the value invested in those items.
Web3 changes this by allowing direct ownership of assets through non-fungible tokens (NFTs). With NFTs, no one, not even the game creators, has the right to take away your ownership. If you stop playing, you can sell or exchange your items on open markets and recover their value. Web3 provides full control over digital assets, which is revolutionary compared to traditional systems.
Censorship Resistance
Web3 allows users to transfer their reputation between platforms, minimizing the risk of censorship. For example, decisions by platforms like OnlyFans can significantly impact creators’ income. OnlyFans is an adult content site with over a million content creators, many of whom use the platform as their primary source of income. In August 2021, OnlyFans announced plans to ban sexually explicit content, causing outrage among creators who felt robbed of their income on the platform they helped create. The decision was quickly reversed after negative feedback.
However, this case highlights the problem for Web 2.0 creators: you lose your reputation and followers if you leave the platform. In Web3, user data is stored on the blockchain. When you decide to leave a platform, you can take your reputation with you by connecting it to another interface that aligns more with your values. In Web3, censorship resistance is a native feature of the platform, giving users more control over their data and reputation.
Decentralized Autonomous Organizations (DAO)
DAOs are smart contracts enabling decentralized decision-making within a community. Users hold tokens that act like shares in a company, allowing collective management of the platform. In Web3, you can not only own your data but also co-own the platform using tokens that function like shares. DAOs allow coordinating decentralized platform ownership and making decisions about its future.
DAOs are technically defined as agreed-upon smart contracts that automate decentralized decision-making regarding a pool of resources (tokens). Users holding tokens vote on how to spend the resources, and the code automatically executes the vote result. Many Web3 communities define themselves as DAOs, although they have varying levels of decentralization and automation using code. We are currently exploring what DAOs are and how they may evolve in the future to further support decentralized governance.
Digital Identity
Web3 enables control of digital identity using an Ethereum address and an ENS (Ethereum Name Service) profile, eliminating the need to create separate accounts on various platforms and increasing security and anonymity. Traditionally, to use different platforms, you would need to create an account on each of them. For example, you might have an account on Twitter, YouTube, and Reddit. If you want to change your display name or profile picture, you have to do it on each account separately. In some cases, social login can be used, but it comes with the problem of censorship – these platforms can block access to your entire online life with one click.
Web3 solves these problems by allowing control of digital identity using an Ethereum address and an ENS profile. Using an Ethereum address provides a single login on various platforms that is secure, censorship-resistant, and anonymous. This gives users greater control over their online identity.
Native Payments
Web3 uses tokens like ETH for direct payments, eliminating the need for trusted third parties and facilitating access to financial services for the unbanked. The Web2 payment infrastructure relies on banks and payment processors, excluding the unbanked or those in countries with limited access to traditional financial services. Web3 uses tokens like ETH to send money directly in the browser without the need for a trusted third party. This ensures fast, cheap, and secure transactions, opening access to the global economy for all users, regardless of their location.
Article Summary: Decentralization and Privacy Are the Main Principles of Web 3.0. Part 2.
Web 3.0 represents a new era in Internet development, where users gain greater control over their data, and decentralization becomes a key element of digital infrastructure. Thanks to blockchain technology, smart contracts, and non-fungible tokens (NFTs), Web3 introduces revolutionary changes in how we manage digital ownership, conduct transactions, and protect our privacy. From censorship resistance to decentralized autonomous organizations (DAOs) and digital identity, Web3 offers new opportunities and challenges that shape the future of the Internet.
However, like any new technology, Web3 is not without its challenges. Technical, regulatory, and social limitations must be overcome to fully realize the potential of this decentralized network. In the next part of our series, we will look at practical applications of Web3, discuss the challenges this technology faces, and outline what the future of the Internet might look like in the context of Web 4.0.
In the next article, we will discuss Web 3.0 in practice, presenting concrete examples of its applications in various sectors. We will analyze how Web3 is used in fields such as finance, gaming, digital art, and many others. Furthermore, we will address the challenges that this new technology must face and the limitations that may hinder its development.
We will also consider the future of the Internet, looking ahead to Web 4.0 and speculating on what innovations the next generation of the web might bring. Will Web3 fulfill its promises and become the foundation of the future Internet? What obstacles must we overcome to achieve this? You will find the answers to these questions in our next article
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