By Priyanka Mehta
Aug 1, 2022
World Wide Web Day
Image Source: FirstLight
The conception of world wide web led to the emergence of web 1.0. Websites were mostly owned by companies, there was close to zero interaction between users and individuals rarely produced content. This is why it's also called read-only web.
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The web evolved to be read and write. Companies now provide platforms to share user-generated content, engage users with interactions. Web 2.0 also birthed the advertising-driven revenue model.
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Web 3.0 is a decentralised iteration of the web that runs on blockchain technology. Web3 uses blockchains, cryptocurrencies, and NFTs to give the power back to the users in the form of ownership. The technology is still evolving, building endless possibilities.
Image Source: Flaticon
Image Source: FirstLight
Everyone has equal access to participate in Web3, and no one gets excluded.
Image Source: Freepik
Instead of the internet being controlled and owned by centralised entities, ownership gets distributed amongst its builders and users with Web3.
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Web3 uses cryptocurrency for spending and sending money online instead of relying on the outdated infrastructure of banks and payment processors.
Image Source: Freepik
Web 3 operates using incentives and economic mechanisms instead of relying on trusted third-parties.
Image Source: Freepik
Image Source: FirstLight
Image Source: FirstLight