The Internet is becoming more and more involved in our daily lives and is shaping our way of life. The Internet was invented by the US government in the 1970s to protect its nuclear weapons from cyber attacks. A single computer controlling all rockets was a recipe for disaster in the midst of the Cold War, and instead a decentralized network of multiple computers was created.
The evolution of the Internet can be divided into three phases, Web1, Web2, and Web3 (originally known as Web 3.0).
Web1
In 1990, the Internet was a collection of interconnected computers. The World Wide Web (WWW) was the first Internet application invented by computer scientist Tim Berners-Lee.
Web1 was developed as an interconnected information system.
In summary, Web1 had the following features:
- It was decentralized. It was supported by regular PCs.
- It was open source, so anyone could edit it.
- Since it required skills to publish content, most users were only readers. So, it was read-only.
Web2
Web2 is the Internet that we know and use today. Web2 is now a structure where users can easily communicate and share with each other online. Basically, it is driven by three features namely Social, Mobile, and Cloud systems.
With the launch of iPhone in 2007, mobile access significantly expanded both the user base and Web usage. We have moved from spending a few hours connected to the Internet on desktop computers to an "always online" state, and mobile apps and personalized notifications are now available to everyone.
Web3
Web3, in the Ethereum concept, refers to decentralized applications (dApps) running on the blockchain. Anyone on the network can use the services, which means no permissions are required. No one can block or restrict your access. Basically, Web3 is an uncensored and decentralized network service that is accessible to everyone. Users who want to build decentralized applications often use the Ethereum network and pay with ETH, the network's native token.
For many, Web3 represents the next stage of the Internet, and perhaps the next stage of organizing society. Web3 platforms and applications will be owned by users who will get ownership rights by helping to develop and maintain these services. Basically, Web3 has the principle of decentralization.
Polkadot founder Gavin Wood coined the term Web3 in 2014. At the time, he had just left the development team of Ethereum, the cryptocurrency with the highest market cap after Bitcoin.
For now, Web3 has some limitations. According to an article on ethereum.org, these limitations are as follows:
- Scalability: Transactions are currently slower on Web3 due to their decentralized nature. Changes to state need to be processed by a node and propagated throughout the network.
- UX: Interactions with Web3 applications may require extra steps, software, or training that can be a barrier to Web3 adaptation.
- Accessibility: Web3 is less accessible due to the lack of integration in modern web browsers.
- Cost: Most successful applications put a very small part of their codes on the blockchain because it is costly.
Thanks to Web3, the trust needed for coordination is minimized, resulting in trust in all components of a network rather than on each individual.
The Web3 movement goes far beyond the use of cryptocurrencies. Thanks to the variety of interactions now possible and the global counterparties, Web3 will cryptographically combine data from individuals, firms, and machines with efficient machine learning algorithms, leading to the rise of new markets and business models.
