Web3 — what cryptocurrency holders like to call Web 3.0 — is a buzzword with only a very vague definition. Everyone simply thinks that it is something related to the further development of the Internet based on the blockchain, but beyond that, what is it?

It is increasingly clear that Web3 is more than a simple idea. It's a series of ideas. It was arguably first proposed in a 2014 blog post by Ethereum co-founder Gavin Wood. In it, he says that Web3 predictably bypasses geopolitical data boundaries, and his definition includes "trustless transactions" as part of its technology stack. Wood continues to build the Web3 Foundation and the Polkadot network to be the most reliable infrastructure in the Web3 world.

Web3 is now flooded with concepts: sovereign digital identities, censorship-free data storage, data partitioned by multiple servers, and other more forward-thinking ideas like decentralized autonomous organizations. These different concepts and ideas are interwoven with discussions about the "Web3" movement and its viability.

Cobie, a well-known author in the field of blockchain, began to associate Web3 with more concepts. He believes that Web3 should include users' own content and data for "decentralization and realization of "value ownership".

Web1 is like a giant Wikipedia page combined with a giant Craig's List, it has no ads, it doesn't allow users to log in or build their own private web space based on it. Web 2 is the current age of algorithmically targeted advertising, often free to use in exchange for your privacy and data.

Web3 — what cryptocurrency holders like to call Web 3.0 — is a buzzword with only a very vague definition. Everyone simply thinks that it is something related to the further development of the Internet based on the blockchain, but beyond that, what is it?

It is increasingly clear that Web3 is more than a simple idea. It's a series of ideas. It was arguably first proposed in a 2014 blog post by Ethereum co-founder Gavin Wood. In it, he says that Web3 predictably bypasses geopolitical data boundaries, and his definition includes "trustless transactions" as part of its technology stack. Wood continues to build the Web3 Foundation and the Polkadot network to be the most reliable infrastructure in the Web3 world.

Web3 is now flooded with concepts: sovereign digital identities, censorship-free data storage, data partitioned by multiple servers, and other more forward-thinking ideas like decentralized autonomous organizations. These different concepts and ideas are interwoven with discussions about the "Web3" movement and its viability.

Cobie, a well-known author in the field of blockchain, began to associate Web3 with more concepts. He believes that Web3 should include users' own content and data for "decentralization and realization of "value ownership".

Web1 is like a giant Wikipedia page combined with a giant Craig's List, it has no ads, it doesn't allow users to log in or build their own private web space based on it. Web 2 is the current age of algorithmically targeted advertising, often free to use in exchange for your privacy and data.