WHAT IS WEB3? AN EVOLUTIONARY LEAP
The internet as we know it has undergone significant transformations since its inception. We started with Web1.0 - a static, read-only internet. Then came Web2.0, bringing interactivity, social media, and user-generated content. Now, we are entering the era of Web3, which promises a more decentralized, user-controlled web. Web3 represents the next step in the digital revolution. It seeks to create a decentralized web, reducing the control centralized entities like corporations or governments have over our online experiences. Key Features of Web3: Decentralization: Central servers are replaced by nodes in peer-to-peer networks. This approach removes the need for intermediaries, ensuring direct, user-to-user interactions. 1. Trustless Transactions: Thanks to blockchain technology, Web3 doesn’t rely on trust. Instead, it uses cryptographic proofs to ensure transaction integrity. 2. Interoperability: Web3 aims for a seamless online experience, where different platforms, systems, and blockchains can exchange data without hitches. 3.
The underlying philosophy of Web3 is about returning power to the users. In a Web3 world, you own your data, your digital assets, and even your online identity. Unlike the current web, where your data is often stored and monetized by platforms without your explicit permission, Web3 aims to rectify this power imbalance.
ISSUE 2 | NEXT PHASE OF THE WORLD WIDE WEB
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