1/ What is Web 3? It’s a network platform designed to provide profits for the creators of the contents.
2/ How does it operates? Through blockchain technology it is decentralized and is operated by consensus mechanisms. Participants of the platforms participate, earn, pay for the contents forming an new economy.
3/ Why Web 3? Fairness, Composability, Sustainablity
Fairness : Web 3 distributes the reward of participation more fairly to creators than Web 2. Web 2 platforms(such as Google, Twitter, Youtube..) are intermediaries. The reward/profit generated via the user’s contents/participation/purchase mostly goes to the operator of the platform. However, Web 3 allows fair distribution of the profits to it’s participants. In the future, entrepreneurs/developers/creators would prefer Web 3 platforms.
Composability : Blockchain technology is an open source technology. It means anyone can access any data. So data in different platforms could be transferred, shared, used, etc.. across the platforms. Also, people doesn’t have to solve the same problem twice b/c ‘a already solved solution’ is accessible through the open source blockchain technology.
Sustainability : Value accumulated in Web 3 platforms is owned by its creator. Web 3 enables the ownership of contents for individuals and the contents can be shared and accessible in different Web 3 platforms. So the contents are sustainable with its owner.
Comparison w/ Web 2 : In Web 2 platforms, the ownership goes to the platform. This leads to competition between the platforms and data extraction from its users.
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