What the Heck is Web3!?

Okay, so this isn’t probably the kind of content you think it is. I’m not here to provide you with a blueprint or sure ways to make it as a Web 3 person or anything like that. All I simply aim to do with this post is open your eyes to what opportunities and options you have and then leave the decision-making to you.

So, have you heard about Web 3.0? Well, to be honest, it’s probably harder to have not heard about the latest wave maker in the online space, so yes, you probably have. However, the real question is, have you actually heard the right things?

Myths About Web 3.0

I was going to dive right into debunking some of the common rumors and myths about the Web 3.0 space, but then it occurred to me that you may not even be aware of what Web 3.0 is in the first place. So I’ll start there.

What Is Web 3.0?

To explain what Web 3.0 is in such a way that you’ll understand very well, it’s important to take a trip down memory lane and visit Web 3.0’s well… older siblings, I suppose?

Web Evolution and Stuff

So it all started when someone got the bright idea that libraries weren’t good enough for communicating information and let’s face it, I sorta agree with them, after all even way back then (the 1990s) people were already spending a lot of time on their mobile devices and computers. Of course, just like books in a library, Web 1 was designed strictly to communicate information to interested parties. Although “designed” here may be a wrong choice of words since this was more of a limitation than an intentional fact.

As you would expect, all users could do was browse through the information provided with no way of communicating back their preferences. All they could do was read through and hope that the next upload would contain the information they needed. Now that I’m writing this “out loud,” it seems to me that the only thing web1 had going for it over a traditional library is its information accessibility. Then came Web 2.

Of course, it doesn’t take a genius to figure out that Web 2’ primary design was to introduce the interaction features that Web 1 lacked. This is why Web 2 is also commonly referred to as the Social web. Now, here’s where things get interesting. Did you know that what we have currently, that is, what most people interact with when they get on their mobile devices or laptops, is actually Web 2?

That’s right, your Facebook, YouTube, Twitter (now known as “X”), and even web techs like ReactJs and AngularJs are all Web 2. Evidently, the internet is still in its itty-bitty stages, and this only makes one truly wonder just how far this particular piece of technology can go.

At this point, pause, take a deep breath, and let’s recap all we’ve covered in this particular section:

• Web 1.0 was producer-focused
• Web 2.0 is consumer-focused

That’s all.

Now, I want you to think really hard… what limitations currently exist with Web 2.0 that could have prompted the development of Web 3.0? After all, “if it ain’t broke, no one would be fixing it.”

Come up with anything yet? Alright, fine, I’ll tell you some (yes, some because I don’t claim to know everything myself, although I do know quite a bit). Let me also mention that it’s only by understanding the current limitations of Web 2.0 that you can truly appreciate Web 3.0 and all that it entails. It’s only then that Web 3 won’t be that vague concept in your head. That said, let’s take a look at the major limitations of Web 2.0:

Major Limitations of Web 2.0

#1. Centralization:

This is perhaps the most significant limitation of Web 2.0. Remember, from the summary above, I mentioned that Web 2.0 is consumer-focused, at least it was supposed to be. In addition to this, the baseline concept behind the internet is that it gives everyone borderless freedom.

Of course, with great power comes great responsibility (yes, that was a Spiderman quote. I love Marvel…deal with it). Anyways, it was always bound to happen that some individuals would misuse this freedom of near-limitless access to information. But this doesn’t really have anything to do with the centralization point, so I’ll just pull the plug here.

Back to the point at hand, centralization. Web 2.0 was meant to put power in the hands of the people and give them the freedom to make their own choices… literally. However, if you look around today, you’ll discover that this isn’t the case at all. What we currently have is major corporations controlling vast amounts of web traffic and data. Now, before you say,  “What does this have to do with me?” just think of the implications and risks in terms of privacy, data security, and my personal favorite, censorship.

Speaking of privacy, let’s take a look at point 2

#2. Privacy Concerns:

Surely you’ve had experiences where you just finished conversing about a particular item you’re interested in with your friend, and then you go online only to start seeing ads related to that specific thing. The reason for this is simple; your devices are actually actively gathering information from you… or, to be more precise, the corporations behind them are.

This reminds me of a joke I saw on X some days ago where a particular guy was confused about why the calculator app was asking for microphone permissions. What does it want to do, calculate audibly? Lol. Anyway, if you go through court records, you’ll find cases of sanctions or fines placed against several bigwig institutions repeatedly for data misuse and privacy breaches.

Now, I believe in always offering practical examples whenever I can, so here’s one: In 2019, the FTC imposed a $5 Billion penalty on Facebook after finding them guilty of violating privacy restrictions and regulations. You can read the full gist here, but in summary, the gist is about how Facebook has been monetizing user information since 2018, a move that has reportedly earned the company over $55 billion in revenue in that period.

I guess now you know why those pesky ads keep popping up no matter where you go. Now, this should make you wonder about the kind of data specifics these corporations and institutions are leaking daily. I’ll stop here before I start sounding like a conspiracy theorist, but here’s another resource to check out. Let’s take one more limitation of Web 2.0.

#3. Scalability Issues:

Unless you’re really deep into tech, you may not be aware of it right now, but Web 2.0 has serious scalability issues. According to Statistica, the internet population as of October 2023 was about 5.3 billion, and this number is only getting larger by the day. Now, take a moment to consider the level of work an internet infrastructure built in the 2000s is putting in just to match up to user standards.

Wait, that’s not all; you’re also already aware that technology has been evolving rapidly over the past few years. It is worth mentioning that now, tech has evolved to the point where there are advancements that Web 2.0 can no longer support due to its scalability issues. Compared to Web 3.0, Web 2.0’s data usage efficiency and AI integration appear clumsy at best.

There’s also the fact that data integration and interoperability across services and platforms in Web 2.0 is sorely lacking.

I know how you must be feeling now. Suddenly, the current version of the internet isn’t as perfect as it appears to be, right? But remember, it’s still only early days as far as the internet is concerned. Besides, there’s already an upgrade in place—web 3.0.

If you agree that Web 3.0 was developed and introduced as a solution to Web 2.0’s issues, and you already know what those issues are, I’ll leave you with a question.

Based on all of the above, what exactly is Web 3, and how does it provide solutions to these problems?

Find out in the next post. Bye for now.