Web 1.0 that lasted between 1990 to 2004 was referred to as the static web, it happened to be the first introduction of the internet to the masses and it’s focus was to provide online content and information. Users/adopters couldn’t interact with it and all we could do was read information and that’s the genesis of Web 1.0.
Web 2.0 refers to websites and applications that utilise user-generated content for end users. Web 2.0 is used in many websites today, chiefly focusing on user interactivity and collaboration. Web 2.0 also focused on providing more universal network connectivity and communication channels. The difference between Web 2.0 and 3.0 is that Web 3.0 is more focused on the use of technologies like machine learning and AI to provide relevant content for each user instead of just the content other end users have provided. Web 2.0 essentially allows users to contribute and sometimes collaborate on site content, while Web 3.0 will most likely turn these jobs over to the semantic web and AI technologies.
But if you are using the internet right now as at the moment that I’m writing this article, you are pretty locked away in Web 3.0 and this is the dynamic state of the internet as the previously static form of the internet(web 1.0) has been manoeuvred such that more people can interact with it, and this brought about the rise of content creators as we all called them(your favorite youtubers, your lovely tik-tok creators, e.t.c) so other than just consuming information, we can actually write back and interacts.
One of the defectives of web 2.0 is that it’s dominated large companies who provides internet services such as Facebook, Instagram, snapchat and co in exchange for our personal data, I bet you would be dumbfounded if you realise how much of your data the likes of Apple, Google, and other tech giants companies hold…they monitor your social habits, trips, stuffs that you’ve shopped online in the past, your health and many more.
And of the shortcomings of Web 2.0 in the crypto space is the KYC(know your customer) phase, most of the centralised exchange that runs on the Web 2.0 currently would ask for KYC before rendering their services to you, I could remember I got my money hanged for ages on the BigOne exchange because I would concur to their KYC mandate and I can assure you that Web 3.0 fixes all of that because Web 3.0 is the decentralised evolution of the internet; fully functional on the blockchain and unlike Web 2.0 where the traditional software companies get ahold of your data before providing service , with Web 3.0 no one has access to your data.
And to be honest with you, cryptocurrency is just a small part of Web 3.0 technology because I’m confident we would social apps built on Web 3.0 like Google and Instagram of Web 3.0 and need I remind you that Presearch search engine works just like Google search engine but its a decentralised search engine and it doesn’t collects your data unlike Google.
Web 3.0 is needed because in Web 2.0, you don’t have control over your data and how it’s stored or what it is being used for. These Web 2.0 companies monetise your data even without your permission, they built new software or apps, push it out for masses adoption, collect their data and monetise it and I’m glad to tell you that Web 3.0 fixes this because you’ll be getting paid as a creator.
Web 3.0 is the third generation of internet services for websites and applications that will focus on using a machine-based understanding of data to provide a data-driven and Semantic Web. The ultimate goal of Web 3.0 is to create more intelligent, connected and open websites.
Incentivising individuals to participate in Web3 protocols empowers society. The issue is how much of the internet backbone can be realistically decentralised. The largest trend is likely to be a focus on usability.
First, it was decentralised finance (DeFi), then it was non-fungible tokens (NFTs), and now it seems as though the Next Big shot in crypto might be Web 3.0. While somewhat uncertain, this term refers to making the Internet more ‘intelligent’ in various ways, from using AI(Artificial Intelligence) to proactively respond to user queries to using decentralization to unlock novel functions and experiences.
So as someone who’s in the crypto industry, how do you position yourself to gain maximum profits when Web 3.0 hits the mainstream? The answer is pretty simple and obvious, there are tokens that are listed under the Web 3.0 tokens and all you have to do is do a little bit or extensive research on which of these tokens to invest on which I’m pretty sure everyone that knows his/her onions in the crypto industry should be able to perform an in-depth analysis on a particular token before he/she invests on it.
If you’re following me on twitter, I’ve decided to start performing an in-depth analysis on a Web 3.0 token and post all about my findings to my followers, this isn’t in any way a financial advice but just an educative post to bring awareness to the intercoin community members as I understand that in the waiting; it can be hard not to grow discouraged and this is where our attention matters because I could tell you categorically that most times the breaking point is the successful point and if everyone plays this game right, we could all be on our way to true financial freedom.
Here are some examples of Web 3.0 tokens in the order of their market caps(Large-Small)
.Chainlink (15.22 Billion)
.Filecoin (7.59 Billion)
.Fetch (655 Million)
.Mask Network (354 Million)
I wish everyone a successful investment journey.
Be smart…Be intercoined…