Web 3.0: (Blockchain Technology)

Here’s a better way to imagine blockchain technology. We can think of it as “Web 3.0”. Web 1.0 was born when innovators like Tim Berners-Lee proposed what became the World Wide Web. Berners-Lee outlined a protocol called hypertext transfer protocol (HTTP). HTTP enabled text to be displayed on a computer screen with references to other text using hyperlinks. This protocol – among others – became a fundamental building block of today’s internet.  

Web 2.0 is what we have today. In the late ’90s and early 2000s, companies built on the foundational protocols to offer products and services that had never been seen before. Amazon, Netflix, Google, and Facebook are some of the most well-known Web 2.0 companies. They disrupted legacy industries and offered new and efficient ways to shop, entertain, search, and connect.  Now we are in the early stages of 

Web 3.0, the next generation of the internet powered by blockchain technology. This is more than just a new technological architecture. Embedded in Web 3.0 is a new philosophy.  While Web 2.0 is centralized, controlled, and increasingly prone to censorship, Web 3.0 will be open and decentralized, and it will allow the free exchange of ideas. We can have a look below and see for ourselves. Virtually every area of our modern lives can be supported via a Web 3.0 application:

– Internet browsers – Chrome → Brave  

– File storage – Google, Dropbox, Box → Filecoin, Storj, SiaCoin, IPFS   

– Electronic voting systems – Dominion → Voatz    

– Domain Name Systems – DNS → Handshake     

– Identity – Okta, OneLogin → Civic, uPort    

– Social Media – Facebook, Snap → Steemit, Akasha    

– Video/audio chat – Skype, Zoom → Experty, Status    

– Network computation – AWS, Google → Dfinity, Sonim, Golem  

Nearly every single aspect of the second generation of the internet is being completely disrupted. And every blockchain-enabled, third-generation technology can perform the same tasks better, faster, and cheaper.