Defi, Web3, L222
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Defi, Web3, L222
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Written by vva#2123
To begin to understand Web3, we go through development from Web 1.0 to 2.0 to 3.0 step by step so that you know what’s the pain point on Web 2.0 and the reason why we have Web 3.0.
Web 1.0 : 1991 -2000
Web 1.0 is the first generation of the world wide web. In the Web1.0 era, the website will be a passive service, i.e. has fixed content. Users can only access the website to read the content. This is a kind of one-way communication and presents static data with HTML, XML. The user demographic was mostly involved with content consumers rather than content creators. Typical examples are simple homepages such as Netscape, Altavista or Yahoo as well as basic support tools such as Web development tools (e.g., HTML editors) and basic search engines, such as AliWeb.
As the speed of the internet improves, it makes Web 2.0 happen and the rate of internet usage increases as well.
Web 2.0: Approximately from 1999
Web2.0 is the internet that we know and use today. From Web 2.0 on, users can create content on the website, communicate in two ways and interact with each other. There’s a glorious day of e-commerce because there are many social media and mobile applications like Facebook, Twitter, Google and Microsoft.
The key elements of Web 2.0 are clearly composed of Smart Phones, Social network and Centralized Cloud platform.
Difference between Web1.0 and Web 2.0 can be summarized in the following tables:
Even the Internet Web2.0 can break the communication barrier. But it is still regulated, blocked and used as a marketing tool. Cultivate an idea every second, spreading fake news that causes a loss to the economy.
Problems of Web2.0
Web 2.0 is controlled by centralized services run by corporations with the strong power than even can censor user-generated content.
Money is concentrated with a specific group of corporations.
Small businesses survive by shooting Facebook Ads, where social media are controlled by a single centralized organization, and also a monopoly because they can raise service prices whenever they need. Users still need to use them.
Which one is the most centralized data? It is controlled by organizations like Facebook, Google, Amazon and Twitter for marketing. Have you ever felt this way when you are talking to your friend? After a while, that ad pops up.
It all depends on the controller and the rules all the time.
Differences of Web1, Web2 and Web3
Web 3.0: Road to future
Web3.0, also known as Web3, is the era that brings not only Web2’s ability to communicate, interact, but also optimize the value which comes to the real user.
Web 3.0 is a new generation of open protocols built on transparent blockchain networks where users can share applications and services on the same technology.
In addition, it’s also decentralized which is eliminating all middle parties which save a lot of cost and also enabling secure P2P transactions worldwide.
What Web 3.0 will change the Internet from Web 2.0 is its decentralization as blockchain and crypto-currency technologies that are supported by Smart Contracts. As we know, smart contracts are publicly opened and we can see all the transactions on the blockchain which means Web 3.0 will be transparent.
Cryptocurrencies which are related with Web 3.0 are known as Web 3.0 tokens, or Web 3.0 cryptocurrencies. Web 3.0 will give users more control of their digital content by support of decentralized infrastructure. This is separating the dependency of transactions and permissions from a central authority.
Example of well-known application among Web 1.0, 2.0 and 3.0
The start of Web 3.0 technology is DeFi (Decentralized Finance) as we know it. DeFi has a wide range of products that serve everyone unconditionally. For example, the Uniswap platform that allows users to trade cryptocurrencies independently everywhere and users do not have to do KYC or have to show collateral before using it. This is the beginning of the borderlessness of Web 3.0 that users will receive.
Decentralization is truly people’s power. Recently, UNI, dYdX and ENS token airdrops have been distributed to users. These coins will function as Governance Tokens. If we hold UNI tokens then we will be able to vote on developments and offers on the Uniswap platform, and when people can vote it means that the platform is independent of control but it will depend on the people who hold all the tokens.
As of now, lots of Web 3.0 applications are run on the Ethereum network which is Layer 1 blockchains. There’re developments of Layer 2 blockchains which help scale the application by handling transactions off the Ethereum Mainnet (Layer 1) while taking advantage of the decentralized security model of Mainnet. The transaction gas fee reduces and the transaction throughput is faster which will support more and more users in future.
The highlight of Web3
Web3 has the capability to link information between each other on a global network without limitations (Semantic Web). Simple comparison is that the entire world’s information is gathered together as a Database.
- Web1 (focusing on reading data only)
- Web2 (read, communicate and create content)
The most beneficiary is the platform owner.
- Web3 (read, create content and value, Get benefits back to users!)
Benefit of Web3
Anti-monopoly
Decentralization is truly people’s power. Big firms can’t keep control of the whole user’s data in their hands anymore. The incentive will get back to users based on what they have contributed and the value they created.
Secure
Due to decentralization and distributed nature, Web3 will be highly secure. All illegal operations can be traced back through transactions in the blockchain.
Interoperability
Forwarding makes it easier to access information between each other. Web3 allows users to access data across multiple applications. We don’t need to be specific on devices or platforms.
Data ownership
Users can decide which information they want to share with corporations and advertising firms. They will also have an opportunity to earn from it.
Permissionless blockchains
Web3 doesn’t require centralized authorities. Anyone can join in the network. This will eliminate the barrier of gender, nation, income, and etc. Digital assets and wealth can be transferred borderless.
Conclusion
With Web3 and decentralized blockchain, users will gain a lot of benefits. Decentralization is the distribution of power. No middleman will save us a lot of costs. No such big firms who hold all user data and can do censorship or promote ads by one way.
Everyone will have a better opportunity in the investment. It’s going to revolve all aspects like how web2 has changed the daily life, vision, and culture of people in this world.
Credit:
https://en.wikipedia.org/wiki/Web3
https://www.binance.com/en/blog/fiat/web-30-coin-the-newest-crypto-trend-in-2022-421499824684903194
https://www.albawaba.com/business/5-best-web3-crypto-buy-2022-1460858
https://appinventiv.com/blog/web-3-0-blockchain-impact-on-businesses/
Written by vva#2123
To begin to understand Web3, we go through development from Web 1.0 to 2.0 to 3.0 step by step so that you know what’s the pain point on Web 2.0 and the reason why we have Web 3.0.
Web 1.0 : 1991 -2000
Web 1.0 is the first generation of the world wide web. In the Web1.0 era, the website will be a passive service, i.e. has fixed content. Users can only access the website to read the content. This is a kind of one-way communication and presents static data with HTML, XML. The user demographic was mostly involved with content consumers rather than content creators. Typical examples are simple homepages such as Netscape, Altavista or Yahoo as well as basic support tools such as Web development tools (e.g., HTML editors) and basic search engines, such as AliWeb.
As the speed of the internet improves, it makes Web 2.0 happen and the rate of internet usage increases as well.
Web 2.0: Approximately from 1999
Web2.0 is the internet that we know and use today. From Web 2.0 on, users can create content on the website, communicate in two ways and interact with each other. There’s a glorious day of e-commerce because there are many social media and mobile applications like Facebook, Twitter, Google and Microsoft.
The key elements of Web 2.0 are clearly composed of Smart Phones, Social network and Centralized Cloud platform.
Difference between Web1.0 and Web 2.0 can be summarized in the following tables:
Even the Internet Web2.0 can break the communication barrier. But it is still regulated, blocked and used as a marketing tool. Cultivate an idea every second, spreading fake news that causes a loss to the economy.
Problems of Web2.0
Web 2.0 is controlled by centralized services run by corporations with the strong power than even can censor user-generated content.
Money is concentrated with a specific group of corporations.
Small businesses survive by shooting Facebook Ads, where social media are controlled by a single centralized organization, and also a monopoly because they can raise service prices whenever they need. Users still need to use them.
Which one is the most centralized data? It is controlled by organizations like Facebook, Google, Amazon and Twitter for marketing. Have you ever felt this way when you are talking to your friend? After a while, that ad pops up.
It all depends on the controller and the rules all the time.
Differences of Web1, Web2 and Web3
Web 3.0: Road to future
Web3.0, also known as Web3, is the era that brings not only Web2’s ability to communicate, interact, but also optimize the value which comes to the real user.
Web 3.0 is a new generation of open protocols built on transparent blockchain networks where users can share applications and services on the same technology.
In addition, it’s also decentralized which is eliminating all middle parties which save a lot of cost and also enabling secure P2P transactions worldwide.
What Web 3.0 will change the Internet from Web 2.0 is its decentralization as blockchain and crypto-currency technologies that are supported by Smart Contracts. As we know, smart contracts are publicly opened and we can see all the transactions on the blockchain which means Web 3.0 will be transparent.
Cryptocurrencies which are related with Web 3.0 are known as Web 3.0 tokens, or Web 3.0 cryptocurrencies. Web 3.0 will give users more control of their digital content by support of decentralized infrastructure. This is separating the dependency of transactions and permissions from a central authority.
Example of well-known application among Web 1.0, 2.0 and 3.0
The start of Web 3.0 technology is DeFi (Decentralized Finance) as we know it. DeFi has a wide range of products that serve everyone unconditionally. For example, the Uniswap platform that allows users to trade cryptocurrencies independently everywhere and users do not have to do KYC or have to show collateral before using it. This is the beginning of the borderlessness of Web 3.0 that users will receive.
Decentralization is truly people’s power. Recently, UNI, dYdX and ENS token airdrops have been distributed to users. These coins will function as Governance Tokens. If we hold UNI tokens then we will be able to vote on developments and offers on the Uniswap platform, and when people can vote it means that the platform is independent of control but it will depend on the people who hold all the tokens.
As of now, lots of Web 3.0 applications are run on the Ethereum network which is Layer 1 blockchains. There’re developments of Layer 2 blockchains which help scale the application by handling transactions off the Ethereum Mainnet (Layer 1) while taking advantage of the decentralized security model of Mainnet. The transaction gas fee reduces and the transaction throughput is faster which will support more and more users in future.
The highlight of Web3
Web3 has the capability to link information between each other on a global network without limitations (Semantic Web). Simple comparison is that the entire world’s information is gathered together as a Database.
- Web1 (focusing on reading data only)
- Web2 (read, communicate and create content)
The most beneficiary is the platform owner.
- Web3 (read, create content and value, Get benefits back to users!)
Benefit of Web3
Anti-monopoly
Decentralization is truly people’s power. Big firms can’t keep control of the whole user’s data in their hands anymore. The incentive will get back to users based on what they have contributed and the value they created.
Secure
Due to decentralization and distributed nature, Web3 will be highly secure. All illegal operations can be traced back through transactions in the blockchain.
Interoperability
Forwarding makes it easier to access information between each other. Web3 allows users to access data across multiple applications. We don’t need to be specific on devices or platforms.
Data ownership
Users can decide which information they want to share with corporations and advertising firms. They will also have an opportunity to earn from it.
Permissionless blockchains
Web3 doesn’t require centralized authorities. Anyone can join in the network. This will eliminate the barrier of gender, nation, income, and etc. Digital assets and wealth can be transferred borderless.
Conclusion
With Web3 and decentralized blockchain, users will gain a lot of benefits. Decentralization is the distribution of power. No middleman will save us a lot of costs. No such big firms who hold all user data and can do censorship or promote ads by one way.
Everyone will have a better opportunity in the investment. It’s going to revolve all aspects like how web2 has changed the daily life, vision, and culture of people in this world.
Credit:
https://en.wikipedia.org/wiki/Web3
https://www.binance.com/en/blog/fiat/web-30-coin-the-newest-crypto-trend-in-2022-421499824684903194
https://www.albawaba.com/business/5-best-web3-crypto-buy-2022-1460858
https://appinventiv.com/blog/web-3-0-blockchain-impact-on-businesses/
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