Understanding the importance of Web 3
In the animal kingdom, commensalism is a type of animal relationship between two different species; in which only one species benefits while the other suffers no benefit or harm. Web 1.0 is an example of a commensalistic relationship. Users consumed from the internet, and the internet was neither better nor worse for it. Or so we thought.
Web 2.0 was more mutualistic. This internet introduced web applications,platforms and tools that permitted users to develop, collaborate, and share content with one another. All social media platforms, No-code tools, everything that you are interacting with digitally now is possible because of Web 2.0. Users had to share information with these technology products so it could serve them better. It is a give-and-take relationship. So, what could be better than this? Web 3.0.
Web 3 is an internet built around decentralization of digital products and it is based on the blockchain technology. This internet will better leverage sacrificial intelligence and machine learning to develop smarter applications and digital products.
Web 3 digital products that are decentralized, trustless, permissionless, and interconnected.
- Decentralized- In Web 3, there is no centralized authority that governs decision-making. There is no centralized server in charge of users and data is stored across nodes which is powered by blockchain.
- Trustless- Web applications based on web 3 will not require a third party for interactions, collaboration and transactions. Therefore, there is no talk of trust or lack of one.
- Permissionless- The Web 3 internet will be distinguished by open networks that enable everyone to participate in the consensus process. There is no gatekeeper with the authority to prevent anyone from accessing the internet.
- Interconnected- With Web 3 internet, applications and systems are fully connected to each other to ensure an effective utilization.
Web 3 is an internet that promises individual control of data, better use of applications and freedom.