Web 3 is the next version of the Internet
Web 3 is the next generation of the Internet, also known as the decentralized web. It’s a distributed network where data isn’t stored on a single server or in a single location. It moves away from Web 2, which stores data on centralized servers controlled by companies like Google and Amazon.
Web 3 is a network of computers that use blockchain technology to store data. A blockchain is a ledger with records of transactions (called blocks) that are linked together in chronological order (like a chain). The blocks contain transaction details such as date and time, transaction amount, and accounts involved in the transaction.
If someone wants to change or delete an entry on the blockchain ledger, all the other computers connected to it would need to agree to that change. This makes it harder for one person or organization to control information.
Web 3 has many benefits:
- It’s more secure because of its decentralized nature.
- It can help people use their data more effectively.
- It can provide economic incentives for users through tokens offered by applications built within Web 3.
It is better for privacy, security and control
A benefit of Web 3 is it gives you more privacy, control and security. This means that your data is not stored in a central server, but rather on users’ computers. As opposed to the old internet model where all the data was held on one central server.
This also means that you are in control of your own data and information, which can only be accessed with your personal key. It is almost impossible for third parties to hack into any data or information you have stored on there because no one else has access to it aside from yourself. Also by having access to your own data, it means that advertisers cannot get access to your personal data therefore decreasing their ability to target ads towards you based on your browsing history etc.
Web 3 is decentralized web
Web 3.0 is the decentralized web, where you’re not just a user but an owner. A web where you own your data, identity and internet experience. Web 3 also means no single point of failure: if one part of the network goes down, the rest continues working seamlessly. This superpowers individual freedom and privacy by making it harder for a bad actor to steal or control your information and it makes the whole system more robust against collapse.
In practice this means that instead of big companies like Apple or Facebook selling you products that work within their walled gardens like iTunes or Instagram, in Web 3 you own all your own data and can take it with you from app to app. You have a choice when it comes to which apps suit you best.
The web will be more secure and owned
As people are more aware, they start to care about their data and how it is used. Furthermore, a WEB 3.0 browser enables you to own your data, and not let big companies control your internet experience. If you have a diary app on the web 2.0 you could lose all of your data in an instant if the company goes bankrupt or decides to shut down its servers. This would never happen with apps built for Web 3.0, because it is decentralized by design.
Note: This article is for information purpose and here we don’t mean to promote any promotion of any technology that is restricted in Nepal.