To understand this better, first, we should know about Web1, Web2, and Web3:

Web1.0 (1994–2005)

For several decades, the concept of hypertext predates the World Wide Web.

Almost all hypertext systems, however, relied on local files.

Tim Berners-Lee wanted to create a system that could work across networks and allow people to link from one file on one machine to another.

So, in December 1990, he created an app for his next computer system using Objective-C and dubbed it the World Wide Web.

WorldWideWeb was much more than a file-browsing program.

It functioned as both a browser and a text editor.

The internet of this decade where we could only read, an interaction was not possible we could not like any post, nor we could comment.

It was decentralized, where the user had their own server.

web2.0(2005-Present)

This internet we are using right now, we can interact with it, but it is centralized which means companies have ownership and they have all our data like meta, google, amazon, etc.

Welcome to web3.0

web3.0(2020-Future)

This is the internet which was very much needed. It is decentralized which means we own it in the form of Tokens and it runs on blockchain.

web3.0 is trustless (doesn’t require the support of a trusted intermediary), decentralized

( users are the owners ) and permissionless. This internet is run by, miners who verify our transactions on the blockchain for which they are rewarded by gas fees and block rewards. They are present all over the world.

Main points of web3.0

• Our data remains safe.

• It is completely decentralized which means nobody is a single owner.

• We can own it in the form of tokens.

• It can not be hacked.

Smart contract

These smart contracts can be only understood by blockchain, this way there is no middleman.

On these contracts, there are some conditions written, and only after the fulfillment of these conditions it run.

For example:

Let’s say we want to raise funds for environmental causes for which we want a trusted organization to collect those funds and transfer the amount to the concerned authorities.

Here smart contract comes into the picture. So, we made a smart contract with conditions that if the amount is equal to 10 Ethers then transfer the amount to the environmental authorities otherwise funds stay in the contract, and if anyone wants refunds it can be processed and given back. This is how a smart contract works.

NFTs (Non-fungible tokens)

These are unique tokens and are present on the NFT marketplace with the help of NFT real owner is recognized.

DAOs( Decentralized Autonomous Organization)

This community belongs to no one, **Autonomou**s means anyone can join these communities without providing any personal pieces of information.

Decisions are taken through voting and for voting, tokens are used.

Final thoughts

• This was all about web3. If you know everything in detail then start learning web3 development.

• No personal data is required to interact with the blockchain,

• use the internet without Ads

• Send money to anyone without giving your personal information.

• connect your wallet and start using web3.

Follow me on twitter : @Param_eth