Our society is filled with constant innovations and advancements. We as humans have always been after creating an efficient and modern society. The most influential technology in the past few decades, in my view, is the internet. The internet, the way we see it today, is the result of constant upgrades, with each upgrade serving the purpose of fixing minor inconveniences we might have had. The current version and the internet capabilities are due to decades of growth and adaptation.

During the 1990s and early 2000s, the Internet was in the Web 1.0 phase. The application complexity was basic, and pages were often static, primarily for reading purposes such as emails and basic HTML pages. We are currently in Web 2.0, where the Internet is more dynamic, and capabilities are unlocked; we can share, receive, network, and do many more tasks in the Web 2.0 phase than in Web 1.0. We are slowly exploring and entering a new phase of the Internet, Web 3.0. Web 3.0 or Web3 is the most advanced version of the Internet yet with the support of Artificial Intelligence and Machine Learning. Web3 fundamentally works with cryptocurrency, making Web3 unique because Web3 operates on a decentralized platform. Implementing this new wave of the Internet will cause mass changes in how we use the Internet to access information, purchase, share and connect.

A few things that make Web3 stand out and powerful are the following:

Decentralization: The ownership is distributed between the community's builders and users.

Permissionless: Everyone has equal access to participate in Web3, and no one gets excluded.

Native Payment: Using cryptocurrency to transfer and receive funds, rather than using traditional financial systems.

Trustless: Operating using incentives and economic mechanisms instead of third-party sources.

Web3 also provides users to take ownership of the internet, have censorship resistance, Decentralized autonomous organizations (DAOs), and digital identity. With these features, Web3 is the future of how we communicate, share & receive information, and show ourselves.