It’s time we ask this question, Will Web3 finally replace Web2?

Weel, We’re in the middle of a revolution. It’s not a political revolution, although it’s certainly caused by politics. It’s not an economic revolution either, but it has enormous economic implications. This is the biggest change to hit the internet since its inception back in 1991. The internet aka Web2 as we know it is about to be replaced by something far more powerful and robust, something that will allow us to do things today that were unimaginable just ten years ago.

What Exactly Is Web 3?

In one line, Web3 is just the next version of the internet, but that’s not all. It’s decentralized, which means it’s not controlled by any one company or government. Instead, it relies on blockchain technology—a digital ledger that records transactions between people—to store information about you and other users in a secure way.

Web3 will change how we interact with each other online by providing a new way to build apps and websites without relying on central servers run by big companies like Facebook or Google (which are more vulnerable than they seem).

How Does Web 3 Work?

Web3 as the name suggests is the third generation of the internet that aims to create a decentralized and transparent internet. It is built on top of technologies such as blockchain, smart contracts, peer-to-peer networks, cryptography, and decentralized applications (dApps). Blockchain technology provides a way to store data in a decentralized manner, while smart contracts automate the execution of transactions in a trustless and decentralized manner. dApps run on top of blockchain networks and enable users to interact with the network, access services, and store data.

Cryptography is used to ensure secure and private transactions on the blockchain, while peer-to-peer networks enable nodes to communicate with each other in a decentralized manner, providing a more resilient and fault-tolerant network. 

Why is Web3 Important?

The current internet is centralized, meaning that all the data and information you see online is controlled by a few companies like Google and Facebook. These companies hold all of your personal information, which means that if they were to shut down or get hacked (as they have), then all of your private data would be gone too. This makes it difficult for people who want privacy on the web because there aren’t many options available other than using VPNs.

Web3 will change this by giving you back control over what you share with whom and when by creating peer-to-peer networks between users instead of relying on centralized servers owned by corporations like Amazon Web Services, where all sorts of sensitive information could potentially leak out into public view if something goes wrong with those systems due to negligence or sabotage.

Let’s talk about some obvious differences between the two:

Web3 replaces trust with protection.
Web3 is a new web that substitutes security for trust.
Web2 was founded on the belief that websites are secure and will not steal users’ information. This meant that websites could collect personal information from users, such as usernames, passwords, credit card numbers, and more, without presenting any evidence of identity, as long as they claimed to have a privacy policy. This system enabled the rise of social media platforms such as Facebook and Twitter, where friends could connect and share photos and videos, but it also enabled high-profile hacks which might expose the victims’ names, addresses, and Social Security numbers to millions of people.
The Web3 is unique because it uses blockchain technology to provide an immutable record of transactions between two parties who are certain of each other’s identities due to cryptographic signatures or private keys, as opposed to relying on a third party like Google or Facebook, which may have nefarious intentions or even go out of business one day, leaving you unable to access your account after being locked out permanently!
Web2 is centralized, while Web3 is decentralized.
The difference is that while Web2 belongs to a single entity and is subject to manipulation at will, Web3’s decentralized structure forbids network manipulation.
Web3, lets everyone enjoy greater privacy and better control over their own data than ever before.
In today’s Web2 world, Twitter can manipulate the data of a number of transactions, users, authentic vs. fake accounts, and analytics. While Google said they sent thousands of users to our website, we saw very few users coming from Google. We have seen Facebook charge advertising fees for clicks that were generated by fake users. We’ve seen greedy corporations repeatedly manipulate financial data.
The ideal Web3 world should be able to address these issues with data manipulation by organizations and individuals who have access to the data.

Web3 enables a digital economy without intermediaries.
Web3 is a decentralized internet that gives people control over their identities and assets, making it possible for them to do business directly on the internet. It also makes digital economies possible. People can make tokens for anything they want, like virtual currencies and intellectual property rights. Such as this, a digital asset economy in which anyone can buy things on the internet without middlemen taking a cut—no more credit card or bank fees!
Anyone can send anyone digital currencies directly to their wallet. There is no intermediate party involved. While this may not be a major problem in developed countries, for developing countries, this is a major plus because people can not only save money but also transact directly, almost in real time.
Web3 makes digital ownership possible.
All transactions are recorded on a public network, preventing anyone from stealing your property.
Web3 offers an intermediary-free digital economy. To transact with each other, you do not need to rely on third parties, such as banks or governments; all you need is an internet connection!
Examples of digital ownership include cryptocurrencies such as Bitcoin, Ethereum, and other digital currencies and non-fungible tokens (NFTs). If you possess a digital asset in Web3, no one can take it from you.

But despite the pros and cons, is it possible to replace Web2 with Web3?

The answer is not yet. Web2 is here to stay, but so is Web3, and companies all across the globe are trying to bridge the gap between Web2 and Web3 one step at a time, just like we are doing here at dapps.co to make on-chain communications seamless and smooth, so probably one day we will all use Web3 without even realizing it. However, Web3 won’t replace your existing websites or web apps just yet—it’s more like an upgrade that adds new features and functionality while retaining what you already have in place and enjoy.

As time goes on, the differences between the two layers will become less noticeable until eventually they merge into one unified platform: the World Wide Web!

Conclusion

We can hear Web3’s footsteps, but the question remains: will Web3 replace Web2, and when? While Web3 is still being built, more and more enthusiasts have started testing and building on this technology, so let’s make mistakes, learn from them, fix them, and grow along with them.

But in the meantime, Web2 technologies such as cloud, AI, machine learning, robotics, data analytics, mobile apps, and smart will continue to flourish. As we have learned from the past, there may not be a full replacement of Web2 by Web3, but both worlds, Web2 and Web3, will live side by side, and someday, without realizing it, they will have merged to create something beautiful and powerful.