Web3 represents the future of the Internet, as it offers significant advantages compared to web2 (the current one). On web3, decentralization is key , thanks to the use of blockchain to ensure transparency and security in the exchange of data and content. Furthermore, the token economy plays a fundamental role, allowing the creation and use of tokens in different applications and services.
The semantic web also has a prominent position in the context of the web3, improving the organization and search of information. With this, the future of web3 looks promising, with trends and developments that point to mass adoption in society. We are going to delve deeper into this technology to understand everything it provides and what changes are already beginning to be seen in many projects.
Where does the website come from?
Let's do a brief review of where we come from, to better understand the evolution of technology on the web. The years are approximate, since there is no exact moment of transition.
Web 1 (1990-2005)
The first version of the Internet, also known as Web 1.0, was designed specifically for businesses and not for individual users. Only a few knew how to use it. Most major companies hired IT professionals to manage the Internet and implement its use for the benefit of their employees. Notably, users were charged based on the number of pages they visited.
Simply put, Web 1.0 was a content delivery network (CDN) that allowed users to view static data on websites without being able to interact by posting their opinions or comments. Let's say they were some kind of read-only websites. It also marked the beginning of the dot-com boom, which lasted from 1995 to 2000 and fueled a host of web companies.
Web2 (2006-present)
Web 2.0 is the web as we know it and are well used to browsing. Users can now create, gather, and share vast amounts of data with just one click thanks to this version of the web.
The main characteristic of Web 2.0 is that it allows users to create content and distribute it on global networks. Social media channels like Instagram and Facebook and other video streaming, blogging, podcasting, and social bookmarking applications are examples of Web 2.0 platforms. This period is also known for the ease with which fragments of music and video are shared. In short, it is a more interactive website for the user.
Web3 (under implementation)
Web 3.0 is the latest generation of the Internet. After 2.0, the third iteration, based on sophisticated algorithms such as artificial intelligence, is now coming into play. It aims to provide a reliable, data-driven user interface that serves all users. Web3 is expected to leverage aspects such as blockchains, the metaverse, and the semantic web.
Most features were already present in web 2.0. New concepts appear such as blockchain and decentralization. Users will be owners of their content and will have full control over Internet use.
What is Web2?
Web2 is the current version of the World Wide Web (WWW), also known simply as "web." It focuses on dynamic websites, search engines, social media platforms and online shopping sites.
Web2 is the second generation of the Internet, after Web1, a non-interactive and read-only website. More dynamic elements and interactivity were added with Web 2; everything was "clickable." It allowed users to create and share content and communicate online powered by social media.
Advantages of Web2
Web2 offers more interactivity, communication and participation than previous versions of the Internet. These are the main advantages of Web2:
Interactivity and dynamic content: Web2 contains websites with clickable elements, such as buttons, links, and forms, that allow users to choose and act with a click. You can also create applications with interactive content. This also leads to greater personalization of the user experience.
Communication: Web2 introduced forums, real-time chats, comment sections on articles, “like” and “react” options on social networks: in short, it allows anyone in the world to communicate online.
User-generated content: In Web2, users can search for content using web browsers, as well as create and share content on blogs, vlogs, and video services such as YouTube.
Share information . Social networks and self-publishing platforms facilitate the exchange of knowledge and information.
Easy to use: Web2 is easy to use. You can share and update information, make purchases and reserve services with a few clicks, without having advanced computer skills.
Disadvantages of Web2
Web2 is convenient, but it has its challenges. Centralized authorities manage e-commerce and social media sites, which raises these problems.
Security: Web2 depends on centralized servers and systems to store data, which means that huge user demand can overload the servers. Centralized servers are also a security problem because hackers only need to breach one system to access large amounts of user data. Centralization also makes it easier for governments and companies to control user activity.
Data ownership: A few giant companies dominate Web2, collecting user data and exploiting it for profit. To use an online platform, you must create a user profile with login information through email registration. All your data ends up on the website owner's servers. In this sense, user data is in the hands of companies, which is a privacy issue, along with the fact that user activity online is tracked using cookies and tracking pixels. It is always said that when a service is free, you are really paying for it with the transfer of your data.
Censorship: Companies and governments suppress, control or block certain information to regulate harmful and dangerous content or for their own benefit. They have the ability to monitor user behavior, impose policies, and block particular websites or users within them However, this may raise a freedom of expression issue.
What is web3?
Web3 is the next evolution of the Internet, a new technological paradigm that seeks to decentralize the structure of web2 and create a more transparent and reliable ecosystem. Unlike web2, where data and content are centralized in a few companies, web3 proposes using technologies such as blockchain to decentralize control and allow the participation of all users.
Advantages of Web3
The main premise of Web3 is to fulfill the original promise of the Internet: an open, transparent and secure computer networking system that connects users. If we implemented Web3, its main advantages would be:
Decentralization: In Web3, no entity controls the data and applications, so users would have more control over their data and companies would have to pay to access it.
Transparency and security . The decentralization principle in Web3 would eliminate intermediaries, making the Internet more transparent. Decentralized data storage solutions are also more secure.
User autonomy: Web3 would give users back the power to own their own data. Without a single authority, there would be no restrictions on communication between platforms.
New forms of transactions . Web3 development company would use smart contracts for decentralized exchanges using cryptocurrencies, decentralized applications and platforms that do not require an intermediary.
Disadvantages of Web3
The main disadvantage of Web3 is its complexity and the computing resources it requires. Web3 is based on blockchain technology, which makes it much more difficult for the average user to understand. These are the main disadvantages of Web3.
Complexity: The technical foundation of Web3 is complex from both a technical and user experience point of view. Therefore, its mass adoption is still too complicated. Web3 requires a high level of computer skills, so it would take a lot of effort for newcomers to grasp it.
Information resources: Web3 requires more computing resources than Web2. Web3 operations also consume much more energy, so in times of climate emergency it can be a big problem.
Scalability: Blockchain technology and other decentralized networks struggle to handle large volumes of data, which could lead to slowdowns and limited network capacity on Web3.
Regulatory and legal issues . It is difficult to enforce regulatory or legal frameworks on blockchain networks, which could lead to fraud, money laundering, and other illegal activities on Web3.
Cryptocurrency security issues: Web3 would use digital currencies for online transactions. Unfortunately, as the cryptocurrency hacks of 2022 have shown, hackers can find ways to access and steal your cryptocurrencies. This problem could also occur with current banks, but when using web3 technologies to which we are not yet accustomed, it may be easier to fall into scams or phishing attacks.
Advantages of web3 over web2
Like any evolution, web3 has several advantages compared to its predecessor, web2. One of the main advantages is decentralization , which allows us to avoid dependence on companies and governments, empowering users and promoting self-management of their data. In addition, web3 offers a higher level of transparency and trust in information management, since it uses technologies such as blockchain to guarantee the integrity of data and the traceability of operations.
Another advantage of web3 is the token economy, where users can interact and transact using digital tokens. This new economic model allows the creation of incentives and rewards for the active participation of users, generating a more collaborative and community-based ecosystem. In addition, web3 offers greater privacy and security in transactions, thanks to cryptography and greater protection of personal data.
In summary, web3 represents a significant evolution in the way we use the Internet, promoting decentralization, trust and active user participation. The token economy and the use of technologies such as blockchain are fundamental in this new paradigm, which seeks to offer a fairer and more equitable environment for all users.
Web3 components vs web2 components
We have already seen the differences in broad strokes, the differences in the evolution of the web. Now we are going to specify a little more about the technologies or concepts that support these differences.
Payments and currencies
Web2. Payments are made with fiat money. Government-issued money, such as the euro or the US dollar, is used in transactions.
Web3, on the other hand, uses cryptocurrencies such as Ethereum or Bitcoin, which are encrypted digital currencies to finance transactions.
Ownership of contents
Web2. The network assumes control of information storage, causing access problems and concerns about anonymity and protection of online data.
Web 3.0 solves this problem by allowing data to be exchanged in multiple places simultaneously.
Speed
Web2 uses HTTP at distinct web addresses to look for data kept in a fixed location, typically on a single server.This provides greater speed compared to web3.
Web3, on the other hand, assigns ownership to many other people (decentralization).
Technology
Web2. The most common technologies include AJAX and JavaScript, HTML5 and CSS3.
Web3. Machine Learning (ML), deep learning, semantic web and decentralized technologies such as blockchain are used.
Application
Web2 includes podcasts, social bookmarking, blogs, RSS feeds and video services.
Web3 incorporates digital applications, virtual worlds (metaverses) and 3D portals based on AI and machine learning.
Decentralization on the web3
Decentralization is one of the fundamental pillars of web3 and is based on the use of technologies such as blockchain. This technology eliminates the need for a centralized intermediary when carrying out transactions or storing data.
The role of blockchain in decentralization
Blockchain is a distributed ledger technology that ensures data security and integrity through decentralization. In web3, blockchain is used to create consensus and maintain trust in the network. By decentralizing information, a single point of control is prevented from having power over the data.
Implications for data and content control
On the web3, control of data and content does not fall to a few companies or centralized entities, but is distributed among network participants. This implies that each individual is in control of their own data and can decide how and when to share it, providing greater privacy and security. Furthermore, decentralization on the web3 eliminates censorship and the possibility of information manipulation, since the verification and validation of data is carried out by consensus by network participants. Decentralization also encourages collaboration between users, allowing decision-making to be more democratic and participatory. Instead of relying on a central entity to make decisions, web3 uses mechanisms such as decentralized token-based governance to give the community a say in the direction of the ecosystem.
The token economy on the web3
The token economy is one of the fundamental pillars of web3, allowing a new online value exchange model. We are going to see the concept and operation of tokens, as well as their creation and use in the context of the web3.
Concept and operation of tokens
Tokens are digital representations of assets or securities that can be exchanged on the web3. Each token is unique and can have different functions in various decentralized ecosystems. These digital assets can represent anything from cryptocurrencies to physical assets such as stocks or real estate. The operation of the tokens is based on blockchain technology, which ensures the traceability and security of transactions.
By using smart contracts, rules and conditions are established for the exchange of tokens, ensuring transparency and trust in these digital transactions. Additionally, tokens can have programmable features, allowing them to execute specific actions within an ecosystem. This opens up a wide range of possibilities, from automating payments to creating decentralized governance systems.
Creation and use of tokens on the web3
The creation of tokens on web3 can be done through specific protocols and platforms. These tools allow developers to create their own cryptocurrencies or custom tokens based on standards such as ERC-20 or ERC-721 . Once created, tokens can be used in different ways within web3 ecosystems. Some examples include trading tokens on decentralized markets, participating in decentralized finance (DeFi) protocols, or acquiring NFTs (non-fungible tokens) in the realm of digital art and collectibles.
The web token economy3 provides new opportunities for online collaboration and monetization. The decentralization and transparency of these transactions offer users greater control over their digital assets, encouraging active participation in digital ecosystems and contributing to the construction of a more open and equitable web.
Web applications and services3
Web3 has opened up a world of possibilities in terms of applications and services that are revolutionizing the way we interact on the Internet. Below we will mention some examples of web-based services3 and how to access and use them.
Examples of web-based services3
Web3 has given rise to a series of innovative and decentralized services that take advantage of the advantages of blockchain technology. Some notable examples include:
Smart contracts: These autonomous contracts are executed automatically when certain conditions are met, without the need for intermediaries. They can be used in different areas, such as financial agreements, insurance and electronic voting.
Decentralized finance (DeFi): Web-based financial services3 enable transactions and loans without intermediaries, using smart contracts and cryptocurrencies. These services offer greater transparency and inclusive access to financial services for the unbanked.
Decentralized digital identity: Web3 also offers solutions to manage and protect digital identity in a secure and decentralized way. This allows users to have full control over their personal data and share it selectively according to their needs.
Decentralized marketplaces: These platforms allow users to buy, sell and exchange goods and services directly, eliminating intermediaries. They use smart contracts to ensure secure and transparent transactions.
How to access and use these services
To access and use web-based services3, a different approach is required compared to traditional applications and services. Here are some steps to get you started:
Create a digital wallet (wallet): A digital wallet is necessary to store and manage your cryptocurrencies and tokens. You can choose from different wallets available online and follow the steps to set it up.
Get cryptocurrency: To use web-based services3, you will need to acquire cryptocurrencies, either by purchasing them on an exchange or receiving payments in cryptocurrencies through your activities on the web3.
Explore and join web3 platforms: Do your research and find the web3 platforms and applications that interest you. You can access them through web3-specific browsers, extensions or mobile applications designed to take advantage of blockchain development services and smart contracts.
Interact and use the services: Once you are on a web3 platform, you will be able to interact with the services it offers. This can include participating in smart contracts, making transactions, exchanging tokens, and taking advantage of the decentralized features they provide.
As web3 continues to evolve, more services and applications based on this technology are expected to appear, providing even more opportunities to change the way we interact online. With greater adoption and understanding of web3, we will witness significant advances in areas such as finance, digital identity and the decentralization of markets. The future of web3 is exciting and promising!
The web3.js library
A group of libraries known as web3.js enable you to communicate via HTTP, IPC, or WebSocket connections with either a local or remote Ethereum node. The web3 library is developed for use with JavaScript and interacts with the Ethereum blockchain. You can recover user accounts, send transactions, interact with smart contracts and the rest of the operations of a smart contract.
You can create clients or websites that communicate with the blockchain by using this library. These can be actions such as sending Ether from one user to another, checking smart contract data, creating smart contracts, among other things. Users can complete transactions through interfaces provided by Ethereum nodes; the nodes obtain this data through a JSON RPC interface.Ethereum nodes provide interfaces to users to complete transactions: from which, the nodes receive this information via a JSON RPC interface . This is an encoding format that allows running processes to receive new data and verify existing data. Web3.js helps simplify and facilitate the process of execution and selection of nodes participating in the Ethereum network.
Among the various functionalities of Web3.js, the following are the most extensive modules that allow interacting with the Ethereum ecosystem:
web3-eth is for the ethereum blockchain and smart contracts.
web3-shh is for the whisper protocol, for p2p and broadcast communication.
For the swarm protocol, decentralized file storage, use web3-bzz.
web3-utils contains useful helper functions for application developers.
This allows the library to be very flexible - Javascript is supported natively in most popular web browsers - but also allows it to be used server-side in Node.js or Electron-based applications. However, the most common use is to access the Ethereum blockchain seems to be the main reason why someone searches for Web3.js. Users use Ethereum nodes over HTTP, which can be hosted locally, by a Dapp (decentralized application) provider , or through public gateways such as Moralis or Infura.
Typically, those creating Dapps or web browser applications built on the Ethereum blockchain use the Metamask browser extension along with Web3.js. Metamask is an Ethereum wallet - also called wallet - that is hosted in the browser and natively places a Web3 provider object in said browser. In short, a Web3 provider object is a data structure that provides links to publicly accessible Ethereum nodes. Users and developers can manage private keys and verify transactions straight from their preferred browser by utilizing web3.js and Metamask.Using web3.js and Metamask, users and developers can manage private keys and verify transactions directly from their preferred browser.
The semantic web in the context of the web3
The semantic web plays a fundamental role in the development of the web3, since it focuses on improving the organization and search of information on the Internet. In this section we will explore the relationship between the semantic web and web3, as well as the improvements it brings in terms of efficiency and precision.
Relationship between the semantic web and web3
The semantic web is based on the idea of attributing meaning to information on the web, allowing machines to understand and process data more intelligently. This relationship is strengthened in the context of web3, where decentralization and data interconnection become essential.
In web3, the semantic web allows logical connections to be established between entities, such as users, applications and smart contracts. This implies that data can be linked and consulted more efficiently, facilitating interoperability and process automation.
Improvements in the organization and search of information
Thanks to the semantic web, the organization and search for information on the web3 experience significant improvements. Below are some of the notable improvements:
Greater precision in the search. The semantic web allows for more precise and relevant searching by taking into account the context and meaning of keywords.
Data interconnection: The ability to link data and establish logical connections makes it easier to obtain more complete and detailed information, since different data sources can be accessed in an integrated way.
Task automation: By understanding the meaning of information, machines can automatically perform tasks such as data extraction and processing, streamlining processes and reducing manual workload.
Better pattern detection: The semantic web allows us to identify patterns and relationships between data, which facilitates the generation of knowledge and the detection of trends in different areas, such as the economy or climate change.
The future of the web3
Web3 is constantly evolving and promises a fascinating future in the digital world. As we move forward, several trends and developments are emerging that will shape the direction of the web3.
Future trends and developments
First of all, further development of blockchain technologies and smart contracts is expected . These tools will promote decentralization and transparency in different areas, such as data management, information certification and authentication, as well as financial contracts and transactions.
Another important trend is interoperability between different blockchains. This will enable greater connection and collaboration between web-based projects3, encouraging the sharing of data, assets and services more efficiently and seamlessly.
Additionally, a greater focus on privacy and security on the web is expected3. With increasing awareness of the importance of protecting personal data, solutions will emerge that ensure the confidentiality and integrity of information in a decentralized environment.
Prospects for mass adoption of web3 in society
The massive adoption of web3 in society is an increasingly closer aspiration. Various sectors are showing growing interest in this technology and its potential to transform their operations and business models.
In the field of economics, web3 is expected to provide opportunities for the creation of new markets and more equitable economic systems. The issuance and exchange of digital tokens will enable broader participation in the global economy and the democratization of investment and project financing.
Likewise, web3 also has the potential to improve the protection of individual rights. By using smart contracts and blockchain, more transparent and fair governance systems can be created, guaranteeing ownership and control of digital assets.
Another important aspect to consider is the impact of web3 in the fight against climate change. By facilitating traceability and verification of sustainable practices, actions that contribute to the preservation of the environment can be encouraged.
In terms of entertainment and sports, web3 opens up new possibilities in terms of content creation, distribution and monetization. A boost in women's sports is expected through decentralized platforms that promote equity and the participation of women in the sports field.