Web3 is an attempt used to bring the blockchain, decentralized applications, and smart contracts together. It is envisioned by Web3 Foundation as a public internet where content and data are registered on tokenized blockchains, or managed on peer-to-peer networks.
Web3 promises to be an immutable and decentralized version of the web, free of intermediaries that are built up with cryptographic verifiability, non-fungible tokens, and decentralized applications, or Dapps. This fuzziness led it to a certain degree of divisiveness across the industries. Web3 is the revolutionary way to return to the libertarian roots of the internet.
Origin of Web3
Web3 is described by the creators of the Ethereum blockchain, named Gavin Wood. It has been described that the “Web 3.0” is an encrypted online space that was built to respond to privacy concerns that were raised by the global surveillance revelations.
This model was mathematically enforced using cryptography to verify transactions and added to blockchain for irrevocable and universal transparency. Web3 did not truly start to take hold till 2021, however, when venture capitalists started to talk about Web3 as an “internet owned by users and builders, orchestrated with tokens.”
Web 1.0 & Web 2.0
If Web3 is the internet’s next iteration, how exactly does Web 1.0 different from Web 2.0?
Web 1.0 was the first iteration, from 1990 to around 2004. In the Web 1.0 era, users engaged with static web pages and content that was distributed by a cohort of gatekeepers like AOL and Yahoo.
Web 2.0, broadly encompassed from 2005 to the present day, is a dynamic and interactive web. Static web pages are joined and generate content using apps. Web 2.0 is ruled by the set of dominant platforms that are represented by the FAANG companies, namely Facebook (that is now Meta), Apple, Amazon, Netflix, and Google. These all exchange services with personal data to a certain degree.
The Web3 Stack
Some engineers attempted to define the term Web3 stack as it is not a straightforward exercise.
Nader Dabit, senior developer at AWS and now relations engineer and developers at Web3 company Node and Edge, that is attempted to outline the Web3 stack on the high level which is made up of:
It is a significant departure that three-tier architecture is used for web development.
Getting Started with Web3
So, are you ready to get started? There are many places where you can go to learn more about Web3 technologies and principles.
Dabit at Node and Edge advises starting with the popular Solidity programming language to write smart contracts. You can explore the whole new world of Web3 libraries, tools, and APIs. You will also need an efficient and secure crypto wallet to manage the assets of Web3.