Here is all you need to know about Web3.0

Web3, also known as Web 3.0, is  a decentralized version of the Internet  based on a public blockchain. The concept gained popularity in 2020 and 2021 thanks to the interest of crypto enthusiasts and investments by highly professional technologists and companies.

Web 1.0 and Web 2.0 date back to an era in the history of the Internet that evolved using a variety of technologies and formats. Web 1.0 dates back roughly  from 1991 to 2004, when the  majority of Internet users were pure content consumers. Most websites were static pages that displayed content from the server filesystem rather than a database. Web 2.0 is based on the idea of ​​"the Internet as a platform". More and more internet users create content that they upload to social networks, blogs or websites to share videos or images. Many web pages are dynamic and serve content from relational databases or are fully functional web applications. It is said that the birth of Web 2.0 started around 2004 and continues to the present.

Web3 is different from the concept of Semantic Web developed by Tim Berners Lee in 1999. Sometimes referred to as "Web 3.0". Several authors referring to the decentralized concept commonly known as "Web3" have used the term "Web 3.0", which has created some confusion between the two. Also, some ideas for Web3 include those related to the Semantic Web.

In 2020 and 2021, the idea of ​​Web3 got attention. Especially in late 2021,  due to the interest of crypto enthusiasts and the investment of highly professional technologists and companies. Executives at venture capital firm Andreessen Horowitz traveled to Washington, D.C. in October 2021 to lobby for ideas as  potential solutions to  Internet regulatory problems faced by politicians. Several companies, including Reddit and Discord, were reported to be exploring the possibility of integrating Web3 technology into their platform by the end of 2021, but Discord later announced that it had no plans to incorporate Web3 technology in the face of strong user backlash.

Web3 is based on the idea of ​​a decentralized Internet. Proponents often contrast this with Web 2.0. In Web 2.0,  large amounts of web data and content are concentrated in a fairly small group of companies (sometimes referred to as Big Tech). Web3 vary, they are all based on blockchain technology such as various cryptocurrencies and non-financial tokens (NFTs). Some visions are based on the concept of a decentralized autonomous organization (DAO), which empowers many people to have equal ownership and control of the organization. Decentralized Finance (DeFi) is another key concept that allows users to exchange currencies without the intervention of banks or governments. Self-authentication allows users to identify themselves without relying on centralized authentication systems such as OAuth.

Several technologists and journalists described Web3 as a possible solution to concerns about the excessive centralization of the Internet by several large tech companies. Some have argued that Web3 can improve data security, scalability, and privacy over traditional Web 2.0 platforms. Some legal scholars are concerned about the difficulty of regulating decentralized networks, stating that cybercrime, online bullying, hate speech and imagery of child abuse can be difficult to prevent. Several other critics of Web3 see this concept as an extension of a blockchain-based trend, particularly NFTs, which they view as overly exaggerated or harmful. Some critics have raised concerns about the environmental impact of cryptocurrencies and NFTs. Others have expressed the belief that Web3 and related technologies are pyramid schemes.

Discord CEO Jason Citron tweeted a screenshot suggesting that they might consider integrating Web3 into the platform in November 2021. This led some to dislike NFT and canceled their paid subscriptions, while others expressed concern that these changes could increase the amount of fraud and spam already occurring on crypto-related Discord servers. Two days later, Citron tweeted that the company had no plans to integrate Web3 technologies into their platform, and said that it was an internal concept part of a companywide hackathon.