Web3 is the revolutionary change that has come to the internet. As many already call it, it’s the future of the internet, but can we truly understand the fullness of Web3 if we don’t consider its roots and what happened to Web1 and Web2?

The names Web1 and Web2 are simply used to imply different phases in the history of the world wide Web.

Web1 refers to a time from 1991 to 2004, the era of read-only pages completely different from what we have today. The static pages meant there was no user interactivity, and therefore, users were mostly consumers of online content. There were only very few producers because that required a lot of technical knowledge and financial capacity.

Web2 is the time we’re in now. Since 2004, more functionality has been integrated into Web Pages enabling users to read and write. This is what gave rise to the many content creators on the Web as we have it today, through the power of social media, blogs, and other platforms.

Web2 spelled a lot of growth for the human race but even more so for those platforms controlling online content. While these platforms make it easier for consumers to become creators, this is also at the expense of data privacy and security. These top tech platforms would record user data to position themselves for increased revenue, feed users more of what they want, and watch your business soar. Some even sell data to other agencies. This explains the core of the problem with Web2 and the need for a decentralized and user-centric solution.

Web3 is born not only to integrate all of Web1 and Web2 but to offer a solution to their inherent problems. It is a concept founded on creating a decentralized, user-centric Web founded on blockchain technologies.

However, for its history, the idea of Web3 was first mentioned in 2001 in an article titled “The Semantic Web”. And this idea was chaired by Tim Berners-Lee and a few more scholars whose thoughts formed some part of Web3.

However, it wasn’t until 2014 that Ethereum’s co-founder, Gavin Wood, coined the name. He proposed a decentralized online ecosystem based on blockchain technology to provide enhanced data privacy, user anonymity, and data ownership.

Today, the Web3 concept has been transformed from Berners-Lee’s idea in 2001 and has morphed into much more.

Many have and continue to hail the concept of Web3 as a much-needed solution that would liberate users from the grip of central authorities. However, certain criticisms or possible limitations have been pointed out.

Let’s first point out clearly that Web3 is a concept for the future. It’s still in the works as today’s technology isn’t yet enough to realize it.

Furthermore, one of the loudest critics of Web3 is Jack Dorsey, Twitter’s former owner, who postures that Web3 isn’t as completely decentralized as it’s made to seem. Being a token-based economy, wealthy individuals or corporations could buy decision-making ability in their favor by purchasing as many governance tokens as they can afford. This may also imply that Web3 may not be affordable for all.

Finally, because the platform would be integrating many technologies, this may make it more difficult to use for beginners and restrict usage to specialized gadgets.

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Web3 is the revolutionary change that has come to the internet. As many already call it, it’s the future of the internet, but can we truly understand the fullness of Web3 if we don’t consider its roots and what happened to Web1 and Web2?

The names Web1 and Web2 are simply used to imply different phases in the history of the world wide Web.

Web1 refers to a time from 1991 to 2004, the era of read-only pages completely different from what we have today. The static pages meant there was no user interactivity, and therefore, users were mostly consumers of online content. There were only very few producers because that required a lot of technical knowledge and financial capacity.

Web2 is the time we’re in now. Since 2004, more functionality has been integrated into Web Pages enabling users to read and write. This is what gave rise to the many content creators on the Web as we have it today, through the power of social media, blogs, and other platforms.

Web2 spelled a lot of growth for the human race but even more so for those platforms controlling online content. While these platforms make it easier for consumers to become creators, this is also at the expense of data privacy and security. These top tech platforms would record user data to position themselves for increased revenue, feed users more of what they want, and watch your business soar. Some even sell data to other agencies. This explains the core of the problem with Web2 and the need for a decentralized and user-centric solution.

Web3 is born not only to integrate all of Web1 and Web2 but to offer a solution to their inherent problems. It is a concept founded on creating a decentralized, user-centric Web founded on blockchain technologies.

However, for its history, the idea of Web3 was first mentioned in 2001 in an article titled “The Semantic Web”. And this idea was chaired by Tim Berners-Lee and a few more scholars whose thoughts formed some part of Web3.

However, it wasn’t until 2014 that Ethereum’s co-founder, Gavin Wood, coined the name. He proposed a decentralized online ecosystem based on blockchain technology to provide enhanced data privacy, user anonymity, and data ownership.

Today, the Web3 concept has been transformed from Berners-Lee’s idea in 2001 and has morphed into much more.

Many have and continue to hail the concept of Web3 as a much-needed solution that would liberate users from the grip of central authorities. However, certain criticisms or possible limitations have been pointed out.

Let’s first point out clearly that Web3 is a concept for the future. It’s still in the works as today’s technology isn’t yet enough to realize it.

Furthermore, one of the loudest critics of Web3 is Jack Dorsey, Twitter’s former owner, who postures that Web3 isn’t as completely decentralized as it’s made to seem. Being a token-based economy, wealthy individuals or corporations could buy decision-making ability in their favor by purchasing as many governance tokens as they can afford. This may also imply that Web3 may not be affordable for all.

Finally, because the platform would be integrating many technologies, this may make it more difficult to use for beginners and restrict usage to specialized gadgets.

New to trading? Try crypto trading bots or copy trading