The decentralized web, also known as the ‘Web 3.0‘, or ‘internet 3.0‘ or ‘decentralized internet‘, is a vision for the future of the Internet that aims to eliminate centralization and censorship through decentralization. The decentralized web has been described as an alternative to the current centralized model of the World Wide Web (WWW) by providing greater privacy, security, freedom, and control over personal data.
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What is Web 3.0?
Web 3 refers to a concept of the next generation of the internet which is based on the principles of decentralization, transparency, and trustlessness. This new version of the internet would be built upon blockchain technology.
In short, it’s a new way of thinking about the internet that will allow people to interact directly with one another in ways that are more secure, private, and free from government interference. It’s a system that allows internet users to access content on their own terms without having to rely on any third-party service provider.
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Decentralized Web 3.0 – How Does it Work?
To understand how this works, we first need to look at what makes up the existing WWW today.
- Web 2.0 (Centralized Model): Current internet is based on a centralized model in which is a single server that acts as a portal to all information available online. This means that if you want to visit a website, your request goes to the centralized platforms server and then back out to the site you requested. For example, when you go to the social media platform Facebook.com, your computer connects to Facebook’s servers and sends them a request for information. If they find what you’re looking for, they send the information back to your computer.
- Web 3.0 (Distributed Network): This is where things start to get interesting. In a distributed network, there is no single point of failure. Instead, every node in the network has equal status and power. A distributed network can be thought of as a giant spider web. Each individual piece of the web is connected to other pieces, but none of those connections are controlled by anyone else.
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How does web3 work?
A good analogy would be a city. Imagine a city that was built around a central square. All roads lead into the center, which is controlled by a few powerful people who decide what happens inside the walls. Now imagine a different city that’s built around a series of smaller squares. Every street leads to a different part of town, so no one person controls everything.
This is similar to how the decentralized web works. There are many nodes scattered across the internet, each with its own identity and purpose. They connect to each other using open protocols, meaning they don’t have to ask permission to talk to each other. And because these networks aren’t controlled by any one company, they can provide services that are not currently possible.
This is just the beginning of the possibilities of the decentralized web. As time passes, more and more people will begin to use the internet in this way. Eventually, the entire world will become a decentralized network.
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What Can You Do With Decentralized Web 3.0?
The possibilities for the decentralized web are endless. Here are some examples:
Create Your Own Content: You can create anything you want and share it with others. No one owns the content; instead, everyone shares it equally.
Access Information Anytime, Anywhere: You can access information whenever you want, wherever you want. Because there is no central authority, you won’t have to wait hours or days for someone to process your request.
Stay Anonymous: With the decentralized web, you can remain anonymous while sharing information. No one knows who you are unless you choose to reveal yourself.
Be Independent: Because the decentralized web doesn’t depend on anyone organization, you are free from the influence of social networks companies like Facebook and Twitter.
Why are People Talking About Web3 All of a Sudden?
It is all about hype and fear of missing the next big thing. According to New York Times, Venture capitalists have put more than $27 billion into crypto-related projects in 2021 alone — more than the 10 previous years combined — and much of that capital has gone to web3 projects.
In addition, blockchain technology itself has been growing in popularity over the past couple of years. The number of transactions per day has increased exponentially, and now we’re at a point where the majority of them are happening through cryptocurrencies.
With all of this growth, it makes sense why people are talking about web 3.0. It’s an exciting new frontier that could change the way we do business forever.
To summarize, the decentralized web is a future version of the Internet that relies on decentralization rather than centralized control.
