Web 3 is a term referred when naming the next generation of the internet, one that focuses on shifting power from big tech companies to individual users.
If you ask 10 people to define web3, and you might get 10 different answers. For better understanding we will give two, one that states its purpose: and another a litle bit more technical:
- Web 3, also known as “Web3″ or “Web 3.0″, refers to the next iteration of the internet that promotes decentralized protocols and aims to reduce dependency on large tech companies like Faceboo, Google, Youtube and Amazon.
- Web 3.0 is a new iteration of the internet powered by blockchain technology and token-based economics
Web 3 follows the path of Web 2.0 in which information is centralizaed and governed by a sole provider. Web 3 wants to change all that by these 3 central principles:
In web2, companies own platforms. In web3, platforms are decentralized. No organization has control over any content; users do
Thanks to blockchain technology, all users on peer-to-peer networks and decentralized apps (dApps) will share open, unalterable databases that they can verify with their own eyes
Ultimately, users will be able to control their own digital destiny and have the final say in whether their data is collected and how it’s used