The Internet has come a long way, from simple static pages (Web1) to interactive platforms (Web2) where users can publish content, interact and share data. However, Web2, despite all its convenience, has a serious disadvantage – centralized control by large corporations.
Web3 offers a new paradigm where users can not only interact with each other, but also own their data, finances and digital identity.
Financial system: from fiat money to cryptocurrencies
Web2 is completely tied to traditional currencies (fiat money) such as dollar or euro. All transactions go through banks, payment systems and other intermediaries, adding numerous commissions and creating additional restrictions.
Web3 utilizes cryptocurrencies (Ethereum, Bitcoin and others) that provide faster, more secure and transparent transactions without third parties.
Data control and digital ownership
In Web2, information is stored centrally on servers at Google, Facebook, Amazon, and other companies that can restrict access, sell data to advertisers, or block an account.
Web3 solves this problem through decentralization. Data is distributed across the blockchain, and users control access to it themselves. This not only increases security, but also makes it impossible to arbitrarily censor or delete information.
In addition, Web3 is changing the ownership of digital assets. For example, NFT technology makes it possible to secure ownership of digital content – from works of art to in-game items, and even real assets.
Data storage speed and structure
Web2 processes data faster because it uses centralized servers and the HTTP protocol to instantly search for information in one place.
Web3, being decentralized, distributes data among thousands of nodes on the network. This increases security, but can be slow because each transaction requires validation by all network participants. However, new scaling technologies already make it possible to accelerate Web3 to the levels of the familiar Web2.
Social and economic aspects of Web3
Freedom of information and decentralized governance
Web2 is largely based on internal corporate systems, where content visibility and search query delivery are determined by closed-source algorithms. In the case of Web3, all information about network activity and mechanisms of its operation are in the public domain.
Web3 also gives users much more freedom in decision-making. For example, in decentralized autonomous organizations (DAOs), token holders can vote for changes that directly affect the future of the entire ecosystem. This reduces dependence on centralized structures and makes the governance process more democratic.
New business models and Web3 economics
In Web2, users and content creators get a small portion of the revenue, with platforms taking the lion’s share of the profits.
Web3 offers countless monetization mechanisms, including DeFi, NFT monetization, staking, and even allows you to own real assets via RWA tokenization.
Transition: challenges and prospects
While Web3 promises greater freedom and new possibilities for all users, its integration requires solving a number of complex problems:
- Complexity for the mass user – working with crypto wallets, smart contracts and DeFi services requires new knowledge.
- Regulation – States are still just developing laws related to cryptocurrencies and blockchain. This can both speed up and slow down Web3 adoption.
- Performance – Web3 is still inferior in speed to Web2, but the active development of technologies and the emergence of new algorithms helps to solve this problem.
Web3 – the beginning of a new digital age
Web3 is not just another update of the Internet, but a fundamentally new model of interaction in the digital space. It offers users real control over data, secure financial instruments and the ability to participate in management of the platforms.
The mass introduction of Web3 will take many years, and now we are at a fairly early stage. However, it is obvious that the development of Web3 technologies will soon have a significant impact not only on the Internet itself, but also on the entire global financial system.
