Cointime

Download App
iOS & Android

An In-Depth Comparison of Web2 and Web3

Validated Project

Throughout time, advancements in technology have influenced nearly all industries. The advent of the internet was a groundbreaking technical innovation that has far-reaching consequences. We were lucky by being born into this age and see firsthand everything that the internet has to offer. There have been several iterations of the World Wide Web leading up to the present day, which we will discuss. Web1, commonly referred to as the Internet, came initially; it is well-known and well-praised. Second, the consumer-generated internet, or Web2, emerged and eventually caught up with early social media’s precursor signs. In today’s world, everyone seems to be discussing Web3, often recognized as Web 3.0.

What is Web2?

Nowadays, most of us are using Web2, the second iteration of the Website. Web2 expanded the possibilities for interaction present on the Web beyond what was possible in the first iteration of the internet. Among the most distinguishing innovations of Web2 was the advent of Cascading Style Sheets (CSS). CSS enabled programmers to construct intricate graphic patterns which altered the manner in which Websites appeared. Thus, sites like Facebook, Instagram, Twitter, as well as LinkedIn mushroomed in popularity. Users of each of these services create an account by providing their email address and choosing a password after completing a brief registration process. Users may create their own material and share it on these platforms for others to enjoy and engage with. Nonetheless, despite their seeming decentralization, large businesses like Facebook, Instagram, Twitter, and LinkedIn regulate and run these networks.

What is Web3?

Web 3.0, often known as the “read-write-execute Web,” is the next iteration of the World Wide Web. The introduction of adaptive applications, M2M interaction, as well as collaborative solutions marked the beginning of this trend. In addition, it explains how Websites have changed through time as well as how they may now communicate with one other in several ways. Services display varying perspectives on the same data or Web since data is not owned but shared. Web 3.0, also known as the Semantic Web, proposes a network in which computers can understand language as well as humans can, thanks to technologies such as artificial intelligence and machine learning. Also, the data that keeps people linked is revealed via semantic metadata. As a result, the degree of connection enjoyed by users increases as more data is made accessible to them.

Difference Between Web2 and Web3

Following are the comparison on Web2 and Web3 that you should understand about this present and future of the internet:

1. Technology

The layout technologies CSS and Ajax that define Web2 allow for further flexible goods and services to be delivered via the use of interpersonal structures. Although using blockchains like Ethereum as well as Solana, Web3 still relies on conventional design technology.

2. Focus

Web2 places a greater emphasis on user participation as well as the growth of online communities. Web3 places a greater emphasis on linguistic training and decentralization, as well as on the enhancement of the consumers themselves.

3. Governance

Apps, cloud storage, as well as platform infrastructures are managed and controlled by centralized authorities in the Web2 architecture. The management of goods and services is intended to take place in Web3 via a P2P and decentralized consensus mechanism.

4. Tweets

Twitter has the ability to restrict any account or tweet in Web2. Tweets sent over Web3 would be immune to censorship since the platform’s management would’ve been decentralized.

5. Censorship

When it comes to Web2 goods and services, centralized organizations must follow the rules of the countries in which they are based. The above results in stringent censoring rules being part of their service agreement. Because of this, deplatforming occurs often. As Web3 is distributed, it is difficult to control content.

6. Servers

When it comes to applications that are used in the freelance industry, Web2 servers might fall down, which could have a detrimental impact on staff revenue. Since Ethereum is a decentralized system consisting of approximately thousands or even millions of machines, Web3 servers would continue to function normally.

7. Ownership & Sovereignty

As was discussed before, Web 2.0 platforms capitalize on your private information, engagement, as well as output in order to earn revenue. With Web3, on the other hand, you are the sole owner of each and every one of your personal data, as well as your activity and content, and you have the ability to utilize this information to make a gain for yourself.

The Bottomline

Web2 is a popular new internet standard. Those that provide services in return for users’ private information rule the market. Conversely, blockchain-based decentralized apps are what the term “ Web3” alludes to. These applications make it easy for everyone to take part, without requiring them to sell their personal information.

Disclaimer: The author’s thoughts and comments are solely for educational reasons and informative purposes only. They do not represent financial, investment, or other advice.

Read more: https://coinscapture.medium.com/an-in-depth-comparison-of-web2-and-web3-9364f7d34bab

Comments

All Comments

Recommended for you

  • QCP: BTC's path to $100,000 has stalled, and ETH implied volatility has turned to put options

    QCP Capital has published an analysis indicating that the recent drop in the price of Bitcoin has resulted in long liquidations exceeding $430 million. This drop coincides with the end of five consecutive days of net inflows for spot ETFs, which recorded a outflow of $438 million on Monday, while MicroStrategy fell by 4.4%. With the US holiday approaching and no immediate catalyst to push prices higher, BTC's path towards $100,000 has stalled. In addition, the implied volatility of ETH has turned to bearish options rather than bullish options, and market concerns about downside risks may intensify, especially with the release of the FOMC meeting minutes and PCE data. However, in the long run, this market decline is not an excessive correction. Bitcoin has only retreated to last week's level. Since Trump's election, the market has become extremely overbought and leveraged, so a pause is inevitable.

  • Binance will delist GFT, IRIS, KEY, OAX, and REN

     Binance will delist the following trading pairs on December 10, 2024: GFT/USDT, IRIS/BTC, IRIS/USDT, KEY/USDT, OAX/BTC, OAX/USDT, REN/BTC, and REN/USDT. Additionally, Binance Futures will close all positions and automatically settle the KEYUSDT and RENUSDT USDⓈ-M perpetual contracts on December 3, 2024 at 09:00 (UTC). After the settlement is completed, the contracts will be delisted.

  • OpenTrade announces $4 million seed extension round led by AlbionVC

    OpenTrade has announced the completion of a $4 million seed extension financing round to build RWA-supported loan and stablecoin yield products. This round of financing was led by AlbionVC, with participation from a16z Crypto and CMCC Global. OpenTrade plans to use the funds to expand its operations and enhance its product capabilities.

  • BNB Chain Ecosystem Re-staking Infrastructure Kernel Receives Investment from Binance Labs

    BNB Chain's ecological re-staking infrastructure Kernel has announced that it has received investment from Binance Labs. As of now, its total financing amount has reached 10 million US dollars, with main investors including: SCB Limited, Laser Digital, Bankless Ventures, Hypersphere, Draper Dragon, DACM, CYPHER, ArkStream Capital, HTX Ventures, Avid VC, GSR, Cluster Capital, Longhash Ventures, Via BTC, Side Door Ventures, NOIA, and DWF Labs. It is reported that Kernel's mainnet is about to be launched. Kelp provides users with support for Ethereum liquidity re-staking services based on rsETH, while Gain provides DeFi, CeDeFi, and RWA income products. KERNEL tokens are designed to unify the governance and incentive mechanisms of Kelp, Kernel, and Gain, while providing rewards for early supporters of ecosystem development.

  • Morgan Stanley: The U.S. dollar will peak before the end of the year and enter a "bear market pattern" in 2025

    Morgan Stanley predicts that the strong US dollar will peak before the end of the year and then enter a "bearish market trend", slowly declining until 2025. The bank believes that due to the Bank of Japan's rate hikes and gradual easing actions by the Reserve Bank of Australia, the potential for the yen and Australian dollar to rise next year is the greatest.

  • Equation News calls out Binance for "insider trading": You are destroying the sentiment of the trading market

    On November 25th, Formula News reported that to those insider traders who participated in the listing of Binance perpetual contracts, please slow down when selling your chips next time. The WHY and CHEEMS crashes you caused resulted in a 100% negative return for everyone involved in the trade, and you are destroying the emotions of the trade. Earlier today, Binance announced the listing of 1000WHYUSDT and 1000CHEEMSUSDT perpetual contracts, which caused a short-term crash in WHY and CHEEMS and sparked intense discussion within the community.

  • U.S. Congressman Mike Flood: Looking forward to working with the next SEC Chairman to revoke the anti-crypto banking policy SAB 121

     US House of Representatives will investigate Representative Mike Flood's recent statement: "Despite widespread opposition, SAB 121 is still operating as a regulation, even though it has never gone through the normal Administrative Procedure Act process." Flood said, "I look forward to working with the next SEC chairman to revoke SAB 121. Whether Chairman Gary Gensler resigns on his own or President Trump fulfills his promise to dismiss Gensler, the new government has an excellent opportunity to usher in a new era after Gensler's departure." He added, "It's not surprising that Gensler opposed the digital asset regulatory framework passed by the House on a bipartisan basis earlier this year. 71 Democrats and House Republicans passed this common-sense framework together. Although the Democratic-led Senate rejected it, it represented a breakthrough moment for cryptocurrency and may provide information for the work of the unified Republican government when the next Congress begins in January next year."

  • Indian billionaire Adani summoned by US SEC to explain position on bribery case

    Indian billionaire Gautam Adani and his nephew, Sahil Adani, have been subpoenaed by the US Securities and Exchange Commission (SEC) to explain allegations of paying over $250 million in bribes to win solar power contracts. According to the Press Trust of India (PTI), the subpoena has been delivered to the Adani family's residence in Ahmedabad, a city in western India, and they have been given 21 days to respond. The notice, issued on November 21 by the Eastern District Court of New York, states that if the Adani family fails to respond on time, a default judgment will be made against them.

  • Web3 data and AI company Validation Cloud completes $10 million in new round of financing

     Web3 data and AI company Validation Cloud announced a $10 million financing round from True Global Ventures. The company plans to use the funds to expand its AI products and achieve seamless access to Web3 data.

  • Meta’s prototype ‘full holographic’ glasses could be a game changer for Web3

    The new holographic display could give NFTs the Pokemon Go treatment.