Web2 vs Web3: What's The Difference?

What’s Web3?

There is no centralized authority or governing body in charge of Web3 platforms or apps. To put it another way, companies aren’t collecting, holding, and monetizing a user’s data when they sign up for a Web3 service or app. Instead of exchanging data for access, users can participate and interact on Web3 platforms. Furthermore, the services are developed with total transparency and trust in mind, with all data and updates recorded on the blockchain.

Of course, this is only the tip of the iceberg when it comes to describing Web3. The easiest approach to comprehend this new era of the internet is to look at what came before Web3.

Web2 and Web1

Web2 introduced new functionality, resulting in the web we know today. Like, share, and comment buttons on Facebook, Instagram, Snapchat, WeChat, and other social media and websites are examples of web 2.0 features. Web2, as opposed to static web1, is dynamic. People can not only search for information, but they can also communicate and connect with one another. Algorithms skim through pages and recommend suitable pages based on the topic you’re looking for. You can spend hours watching films on YouTube, posting images and videos online, and making cross-border transactions from your computer.

It’s a centralized web, meaning that a large portion of online activity occurs on closed platforms run by these monopolistic corporations like Snapchat, Meta, Alphabet Inc., which the federal government regulates.

Of course, Web2 isn’t without its benefits (where would we be without TikTok and Tinder? ), but many people are wary of the data collecting carried out by these digital overlords, and there’s a rising movement of individuals trying to reclaim control of their online experience.

The Major Differences Between Web2 and Web3

Web3 Ecosystem

  • DApp — runs on a decentralized and immutable blockchain network. It is an automatic execution agreement that writes transaction terms into code through smart contracts. Both parties can do their transaction without trust.
  • DeFi (Decentralized Finance) — This is a new financial system with cryptography, decentralization, and blockchain.
  • NFT (Non-Fungible Token) — This is a digital asset that has value due to its uniqueness. Digital assets can be transferred, sold, mortgaged, lent, or kept for their own appreciation. It is also a new way to make money by selling their works without relying on intermediaries.
  • DAO (Decentralized Autonomous Organization) — is a new organization governance model built around transparency and inclusiveness. It is a community shared by participating members and managed by the consensus of members.

Web3 is ushering in an entirely new way people participate on the internet. There are many surface-level differences plus more nuanced distinctions compared to the previous versions of the internet.

Web3’s ecosystem will only grow and gain popularity among users. We believe in decentralization and a community that can work together to create projects based on DAO principles. We believe that the DF Platform has the potential to be self-regulating and beneficial to investors and project creators. Investing becomes easier and more accessible when everything is transparent and visible.

Where will Web3 take us?



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