While the Web3 technology is still fairly new, its adoption has been driven by massive heaps of attention pointed at the benefits that come with it. How is Web3 different from Web2, which is currently catering to Internet users worldwide? What makes experts think Web3 could potentially take over in the future? Stay tuned to find out.
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Understanding the difference between Web3 and Web2
Web3 is the latest phase of the Internet that we have recently entered. The world wide web of the future is still shaping its final form; however, it has already become the talk of the town, especially amongst developers and tech-savvy experts.
Many confuse Web3 with Metaverse, which rose to popularity last year. Nevertheless, Web3 is much more than the interactive layer of what is known as the Metaverse - a virtual reality designed to imitate real-life experiences.
N.B. Check out GetBlock’s guide on how to benefit from the Metaverse here
In fact, Web3 refers to decentralized applications and blockchain technology. Web3 represents a collection of JS libraries, which let users interact with blockchain nodes with the help of an API connection. Web3 users are able to interact with blockchain technology, e.g. building dApps, investing in crypto assets, creating and selling NFTs, and much more.
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Naturally, new technological advances also attract criticism, which is fine, considering the fact that the Web3 era is at its early stage of development. We have put together a list of things that Web3 offers in contrast to what Web2 currently has.
The first, and arguably the most outstanding Web3 feature is its capability to deliver open-source, decentralized Internet, where users get full ownership and autonomy over their products with no central authority governance. What this means is that Web3 offers limitless potential to participants, who want to create new services with the help of the latest blockchain technology.
Web2, in contrast, is governed by a single entity. Users do not have full control over the information they post or are forced to share on the Internet (e.g. sensitive data).
As soon as a user posts a picture on a social media platform, the user loses ownership over it. The said picture could be deleted, reposted, or used for marketing purposes by the governing authority.
Web3 is drastically different. Users’ rights are of key importance. The factor of biased opinion is also completely eliminated. Everyone gets a fair chance to start their own idea and share content with no fear that the initial concept may be stolen by someone else.
Cryptocurrency as main payment method
Web3 utilizes cryptocurrency technology as the main way of making payments. Blockchain technology, the foundation of Web3, prioritizes transparency, hence why the digital finance sector (DeFi) is making it practically impossible for hackers and scammers to manipulate. Cryptocurrency can be transferred, purchased and sold swiftly, since it does not depend on the third party's approval.
In comparison, Web2 uses feat money. In order to send or receive money it has to be approved by a third party. The approval process might take days and even weeks in some cases.
The term ‘Semantic Web’ is used to describe W3C (World Wide Web Consortium)’s technology to utilize trusted interactions (linked data). With the Semantic Web, users can build data stores, vocabularies, and affirm handing data rules. Linked data is supported by such technologies as RDF, OWL, SPARQL, and SKOS.
The Semantic Web is intended to change the entire online experience for all participants, bringing next-level interoperability and interactivity. In other words, instead of searching for content based on various methods like keywords and numbers (this is exactly how Web2 operates), users will be able to utilize AI to work with the content’s web semantics.
Pros and cons of Web3 tools
Web3 offers high security, transparency, and connectivity. Many experts believe that Web3 could revolutionize not only the Internet itself, but also the way businesses are conducted.
N.B. Check out this GetBlock’s guide on crypto startups
Web3 tools are much more open to innovation, meaning users’ flexibility is bound to reach new highs. This is an outstanding feature of Web3, hence why it is so different from Web2, where the engineering process is isolated from users and is only granted to teams of developers.
The Web3 technology is yet to be perfected. Among some of the drawbacks are the capability to easily obtain data related to a user’s personal and public life. Web3 is incompatible with older, less-advanced devices. What’s more, Web3 will demand users to install and work with the new type of software, which also implies additional skills.
Final thoughts & conclusion
Today, Web3 remains one of the most promising technologies of our time. It offers limitless opportunities to creators on a global scale.
However, as of now, Web3 is mostly available to developers and technologically literate experts. With services, such as GetBock, everyone can get fast and easy access to new blockchain technology. GetBlock, a blockchain-as-a-service provider, offers various node options for both beginners and experienced entrepreneurs. Thanks to this leading blockchain nodes provider for 40+ networks, users do not have to worry about programming skills. With GetBlock, you can start your decentralized businesses right away.