information About Web3.0 - A brief Introduction

What is WEB3.0 ?

Web3 is an idea rapidly developing, originally thought up by Ethereum cofounder, Gavin Wood back in 2014.  It relates to a completely new iteration of the World Wide Web.

It was at that time felt by not just Gavin, but many Crypto developers, that Web2.0, what we mostly have today, relies too much, upon trusting a comparatively few private companies. For many years, these same types of companies and institutes have been acting in the publics' interests.

Web3 has become the vision for many of a new, much improved internet. It is based on the principles of Decentralization and Token based economics. Powering this principle is Blockchain technology, Cryptocurrencies, NFTs and other technologies in development.

It is not yet clearly defined, but is an active work in progress. Perhaps the best examples of Web3.0 in action today, might be payment apps that works on a blockchain, called Peer to Peer. This means that instead of people using a regular bank, they pay for the required goods or services, using Cryptocurrency tokens using a decentralized app. This is also known as a Dapp.

Dapps, include decentralized exchanges, blockchain-based games, NFT marketplaces, finance dashboards, and more. Several Blockchain platforms are available to deploy dApps, including Ethereum, BNB chain, Solana, Hive, Polygon, Wax and others emerging constantly.

A few popular Dapps include:

  • Axie Marketplace (ETH, RONIN)
  • OpenSea (ETH, POLYGON)
  • Alien Worlds (WAX, BNB)
  • Splinterlands (HIVE, WAX)
  • PancakeSwap (BNB)

In summary, back in 2020, someone summarised the WWW history simply as follows:

   Web1.0 : Original WWW - Was Read-Only

   Web2.0 : Todays WWW - Is Read-Write

   Web3.0 : The future WWW - Will be Read-Write-Own.

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