A hot topic of discussion is the evolution of the internet as we know it. Web3 is all the rage and some very wealthy individuals are putting a lot of financial eggs in the Web3 basket. So why should you care and what do you need to know?
Web 3 is an idea for a version of the Internet that is decentralized and based on peer-to-peer technologies such as public blockchains. Blockchains are a non-destructive way to record information over time and the term has become popular with cryptocurrencies. Some experts have expressed that Web3 could improve data security, scalability, and privacy beyond what is possible on traditional Web 2.0 platforms.
The appeal of Web3 is that it is decentralized, so instead of accessing the internet through services mediated by Google, Apple, or Facebook, it’s the individuals themselves who own and control pieces of the internet. Web3 theoretically would protect user privacy better because of the decentralized data collection.
An article I found does a really good job at putting a pretty technical topic into a practical frame of reference:
There are a few limitations when it comes to pulling the trigger on Web3. It is expensive and not easily attainable for all individuals. It also currently has limited accessibility due to the lack of integration in modern web browsers. Another limitation is interacting with web3 applications can require extra steps, software, and education. This can be a huge obstacle to adopting such a program because of how easy Web2.0 is to use.
What do you think? Is this the next big internet move?