In my extensive research on the Web3 phenomenon over the past few weeks, I’ve discovered a lot of misunderstandings regarding the distinction between Web3.0, which is Tim Berners-vision Lee’s of a linked or semantic web, and Web3.0, which is the decentralized, blockchain-based web.
Even Wikipedia contributes to the confusion by claiming that Web3 is distinct from “the concept based around machine-readability, also known as Web 3.0, see Semantic Web” in the same entry before adding that Web3 is “also known as Web 3.0.” I’ll show you a screenshot of that to further confuse you:
So, on the one hand, there is only a semantic difference between Web 3.0 and Web3 (Ahahaha! Chaos! Get it! Get it?) However, the term “Web 3.0” is NOT synonymous with the blockchain-based Web3 concept when it is used to discuss the semantic web.
Here is how they differ and how they are similar in some other aspects—in the shortest and clearest terms possible—to bring about some clarity:
How Do Web 3.0 and Web 3.0 Differ From One Another?
In my extensive research on the Web3 phenomenon over the past few weeks, I’ve discovered a lot of misunderstandings regarding the distinction between Web3.0, which is Tim Berners-vision Lee’s of a linked or semantic web, and Web3.0, which is the decentralized, blockchain-based web.
Even Wikipedia contributes to the confusion by claiming that Web3 is distinct from “the concept based around machine-readability, also known as Web 3.0, see Semantic Web” in the same entry before adding that Web3 is “also known as Web 3.0.” I’ll show you a screenshot of that to further confuse you:
So, on the one hand, there is only a semantic difference between Web 3.0 and Web 3.0 (Ahahaha! Chaos! Get it! Get it?) However, the term “Web 3.0” is NOT synonymous with the blockchain-based Web3 concept when it is used to discuss the semantic web.
Here is how they differ and how they are similar in some other aspects—in the shortest and clearest terms possible—in order to bring about some clarity:
Evolution of Web
Confusion is a result of how the web has developed, specifically. Web 1.0, the web of static pages, is followed by Web 2.0, the web of connection and collaboration, and Web 3.0, or the Semantic Web.
According to Decentology CEO and founder Nik Kalyani, if you follow the numbering progression from Web 1.0 to Web 2.0, it makes sense that Web 3.0 would be the following on the list. But he added that aside from a small group of ardent supporters, the idea “never attained mainstream popularity.”
Therefore, Web 3.0 is now essentially meaningless. Web3 has recently gained popularity and is now unmistakably linked to decentralized technology. Web3 is specifically a fusion of three things:
Decentralization
Driven by technologies like identity, blockchain, and decentralized storage.
Community
This is a crucial component of Web3. It involves people working together on a project, a cause, or a vision, primarily through the use of Discord, Twitter, and, more recently, Decentralized Autonomous Organizations (DAOs).
Culture
The vocabulary used (e.g., “gm” for “Good morning,” “wagmi” for “We are going to make it,” and “ngmi” for “Not going to make it”), the way people work and collaborate (i.e., very casually), and attitude are all examples of what is meant by the term “Web3 culture” (read: overly optimistic, positive and willing to help others, especially newcomers).
Web3: What is it?
Web3 is a blockchain-based, decentralized, and open internet. The term “web3,” first used by Ethereum co-founder Gavin Wood in 2014, refers to a decentralized version of the Internet that would be created by taking away users’ control from web 2.0 behemoths like Amazon and Facebook.
With the help of blockchain technology, decentralized storage, and self-sovereign identity in a community-driven setting, Web3 aims to reclaim data ownership from web2 giants and give it back to users. Users will ultimately decide who has access to what data.
Cryptocurrency wallets like MetaMask, Venly, or TrustWallet, where users store the keys to all of their data and identities, have made this possible. In this way, they can interact with other blockchain apps and manage who has access to their data. Similar to using a Facebook account, logging into other apps with a cryptocurrency wallet is secure, and all your data is yours to keep and manage.
Similarities Between Web 3.0 and Web3
Although the names web3 and web 3.0 differ significantly, they share a common objective. By preserving users’ control over their data, web3.0 and web3.0 seek to improve the Internet. Web3 uses decentralized technologies, whereas the semantic web stores data in a solid pod.
It is important to remember that web3 and web 3.0 are still being developed (in their nascent stage). Although numerous web 3.0 and web3 experiments are underway, they have not yet been fully implemented.
Conclusion
Many individuals worldwide, such as Lemuel Park, the co-founder and CTO of Foster City, view web3 as equivalent to 3.0. They think that key web 3.0 components like machine readability and web3 components like blockchain or the metaverse will be integrated into the web in the coming years.
Despite the semantic web concept’s apparent logic, it never became widely accepted. As a result of its advantages, decentralization, digital assets, smart contracts, open-source platforms, etc., Web3 is in demand. If you are considering a project on web3 development, better talk to a web3 development company. This will save you time and money.
