Web3 refers to a decentralized online ecosystem based on the blockchain : is an idea for a new iteration of the World Wide Web based on blockchains, which incorporates concepts including decentralization and token-based economics.
Web2 refers to the version of the internet most of us know today. An internet dominated by companies that provide services in exchange for your personal data. Web 2.0 examples include hosted services (Google Maps),Web applications ( Google Docs, Flickr), Video sharing sites (YouTube), wikis (MediaWiki), blogs (WordPress), social networking (Facebook), folksonomies (Delicious), Microblogging (Twitter), podcasting (Podcast Alley) & content hosting services and many more.
Examples of Web 3.0 applications are Wolfram Alpha and Apple’s Siri, which can summarise large amounts of information into knowledge and useful actions for people.
Web 3.0 is the latest Internet technology that leverages machine learning, artificial intelligence and blockchain to achieve real-world human communication. The icing on the cake is that web 3.0 not only allows individuals to own their data, but they will be compensated for their time spent on the web.
Web 3.0 will enable the implementation of Metaverse.Metaverse is a projection of reality but in a virtual environment. A virtual universe that allows users to formulate, publish and monetize digital content. … Web3 has got its Metaverse created by different innovators. It has its economics, social networking, and governance supervised by the people who use the Metaverse.
Web3 is designed to remove Big Tech from the equation, much of it be free and open-source, and provide transaction information that is unique and authentic. It brings with it a frenzied hunger for NFTs (non-fungible tokens) — one-of-a-kind digital products, including art.
Web3 is the future and the future is here.