It’s been almost 30 years since web was introduced. It began with static text and images. Next came web2, which gave rise to the modern internet. Web3 is now in its infancy. It envisions data seamlessly being transferred across a decentralized platform, where ownership and control can be distributed. It is built on the decentralized blockchain technology stack. Web3’s economy and business models are powered by cryptocurrencies and tokens.
Web3 is the marketplace of preference for all businesses, regardless of industry. It is expected that it will grow to become a major player in 2022. It was built around the concepts of edge computing and blockchain, cryptocurrencies, NFTs, virtual reality, and cryptocurrency. Web3 development has experienced a substantial increase in popularity, as more businesses attempt to integrate their products into the new space. Google’s recent search trends reveal that web3 interest is up by 33% in just the last few months. This indicates that businesses are more interested moving from web2 to web3. Additionally, web2 migration to web3 is a transition form application-centric design towards a user-centric philosophy of decentralization.
What is web2 exactly?
Web2 refers to the second generation Web. It is also known as “read/write web”. It is an attempt to bring interactive functionality and compatibility to the Web2 platform through the following features.
- User-generated content
- Transparency of data and integrations
- The web is a platform, not a network.
- Software as a Service via API implementation technology
What is web3 exactly?
Web3 allows users to “read-write own” the internet. It utilizes blockchains, NFTs or cryptocurrencies to empower them in the form of ownership.
Features of web3
Web3 is decentralized -Unlike web2, in which the internet is owned and controlled by centralized entities (web2), web3 allows ownership to be divided amongst users and builders.
Permissionless – Everybody has equal web3 access, and no one is exempt.
Native payments – Web3 uses crypto to send and pay money online rather than relying on the old infrastructure of banks, payment processors and credit card companies.
Trustless – It operates using economic incentives and economic mechanisms, rather than relying on trusted third party partners.
Read More: https://www.leewayhertz.com/how-to-migrate-a-web2-application-to-web3/
Development Services 