14 Tweets 13 reads Apr 02, 2022
✨ What is π—ͺ𝗲𝗯 𝟯.𝟬 ✨
Why there is so hype about it?
Let's try to understand some basics in this 🧡 ⇩
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πŸ“Œ What is Web 3.0?
✧ In basic terms, Web3 imagines a future iteration of the world wide web that involves decentralized networks and relies on blockchain technology.
✧ Many people say it's future of the internet...
🎯 But Why...?πŸ€” Let's see ⇩
πŸ“Œ Why Web 3.0?
➟ End-users take full ownership of the data using Web 3.0 provided by the blockchain.
➟ Data sent over the network is encrypted.
➟ Users can choose what information they want to share with businesses and advertising companies and make money from it.
πŸ“Œ How does Web3 work?
⬘ Web3 consists of decentralized applications (dApps) that exist and run on blockchain technology.
⬙ It means that no one person or organisation has control over the network.
⬘ The idea is that dApps are open-source and autonomous, make data and records publicly available, and use a cryptographic token to keep the network secure.
⬙ However, there are concerns about scalability, and currently, dApps have poor usability in many cases.
πŸ“Œ What is the vision for Web3?
🀜🏼 It could as a utopian view of what the World Wide Web could be like without the monopoly that β€˜big tech’ currently has.
🀜🏼It would be a return to the freedom and democracy of the vision for the web, but with increased technological capability.
πŸ’­ So, is Web3 future of the internet?
❐ Many are excited about potential that Web3 brings, but it seems unlikely that Web3 will completely displace Web 2.0
❑ In the near future as there are still valid concerns how it would operate and technology is not yet evolved enough.
🏁Final Words
✩ While blockchain is an exciting and innovative technology that offers many advantages. It seems more likely that Web3 technologies will continue to exist alongside Web 2.0
✩ And aspects of one may become integrated into other without a complete replacement.
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