Welcoming the Third Generation of the World Wide Web

The origin of the Web can be traced back to 1989, when British Scientist Tim Berners-Lee, wrote his proposal for the world’s first internet browser — the World Wide Web (WWW) — while working at Conseil Européen pour la Recherche Nucléaire (CERN), or the European Council for Nuclear Research. His vision was to create open, decentralized protocols that allowed for the exchange of information from any location on Earth. In 1993, the project was released into the public domain, which meant that nobody owned the World Wide Web. Or, to put it differently, the web belonged to everybody.

Web1.0: The “Read Only” Web

Web1.0 was characterized by static content and limited user interaction, and while it was a raging success back then, there was limited interaction between users, and individual content production was rare, leading to its reputation as the "read-only" Web.

Web2.0: The “Read-Write” Web (The internet as we know it today)

The growth of Web2.0 was driven by innovations like mobile internet access, social networks, and powerful mobile devices. Companies like Meta, Apple, Amazon, Netflix, and Google capitalized on Web2.0 business models and became major players in the market. Unlike Web1.0, which was made up of a small number of people producing content for a larger audience, Web2.0 comprises many people creating even more content for a growing audience.

Web3: The “Read-Write-Own” Web

Web3, on the other hand, is a decentralized and blockchain-based version of the web. It aims to provide users with ownership and control over their digital assets, enable censorship-resistant content creation, and allow for collective ownership and decision-making through decentralized autonomous organizations (DAOs). Web3 also leverages technologies like artificial intelligence and machine learning to process information and improve user experiences.

Web3.0 v/s Web3: We Are Not The Same

Although most discussions surrounding the third generation of the Web might imply that Web3.0 and Web3 are essentially the same, they happen to be fundamentally different from each other. While Web3.0 is built upon Tim Berners-Lee’s concept of the Semantic Web, Web3 is a decentralized, blockchain-based version of the Web.

Articulated by Ethereum co-founder Gavin Wood shortly after Ethereum’s launch in 2014, Web3 was born primarily to solve a problem faced by the early adopters of cryptocurrency, who did not feel safe about relying on a handful of private companies to act in the public's best interests.

Web3 enables ownership of digital assets, censorship resistance, collective ownership through tokens and DAOs, full control over financial transactions, and the development of decentralized finance (DeFi) applications.

• Decentralized Finance: Decentralized finance, or DeFi, is one of the most remarkable applications of Web3. Decentralized platforms like Dyor facilitate secure and transparent transactions without the need for central intermediaries like banks.
• Decentralized Identity Management: Web3 offers decentralized identity management solutions, allowing users to own and control their identities across different platforms, enhancing security and portability.
• Decentralized Social Network: Web3 enables the development of decentralized social networks where users have ownership and control over their profiles and content. Platforms like Lens Protocol provide portable profiles and opportunities for developers to create applications on top of the social network.
• Data Storage and Sharing: Web3 introduces decentralized data storage and sharing solutions like Storj and Filecoin that eliminate the need for centralized servers. This provides enhanced security and privacy for users' data.

Overall, Web3 represents a paradigm shift in the way we interact with and utilize the internet, offering greater ownership, control, and transparency for users. It has the potential to disrupt various industries and empower individuals and communities in new and innovative ways.

About Dyor

Dyor is building an investor-friendly decentralized platform to help you navigate and invest in Web3 and DeFi easily. With its unique Swipe-to-Invest interface, access to real user-generated data, and an active community of investors & contributors, Dyor is driven to simplify access to DeFi for all.