Internet Era#
Since the birth of the Internet, it has been continuously developing and has gone through many eras.
- Web1: Began in the 1990s when people started connecting to the Internet and reading its content, but did not publish or contribute their own.
- Web2: Emerged in the early 21st century with the rise of social media, faster internet speeds, and mobile devices. This era is characterized by user-generated content, targeted advertising, and companies owning data.
- Web3: Is a new era of the Internet that is currently emerging, thanks to the power of blockchain technology. Web3 is characterized by user-owned data, open-source software, decentralized platforms, property rights, collective action, digital currency (cryptocurrency), and interoperability.
Web2 vs Web3#
Web3 attempts to address many of the problems that arose during the Web1 and Web2 periods, hoping to be another step towards a better functioning digital world. Currently, the Internet is in a transitional period from Web2 to Web3, with most people still using Web2 applications. So what are the differences between Web2 and Web3 applications? What advantages does Web3 have? The table below answers these two questions.
| Web2 | Web3 |
|---|---|
| Each website is a separate account and not interoperable | Use one wallet/identity to log in to any website |
| Accounts are set up by users with usernames and passwords | Wallets have public addresses and private keys, which are deterministic and not set by users |
| User data is held and controlled by website owners | Users have control over most personal data on websites |
| No digital ownership or property rights | Users have digital ownership and property rights |
| Data between websites is independent and not interoperable | High interoperability between websites, allowing for the exchange of user data |
| Websites are relatively closed, making it difficult to transfer data from one platform to another if a user chooses to record data on one platform | Platforms are more open, allowing users to switch platforms and transfer personal data to another platform |
One of the most significant differences between Web3 and Web2 is the importance of wallets. Instead of creating separate online accounts for each website visited, you will connect your wallet.
Personal Understanding#
I personally think that Web3 still has some issues, or maybe these are not considered issues since I have just learned about Web3.
Wallet Mnemonic Leakage#
How can one change wallet mnemonics or private keys? If they are leaked, it would be a significant undertaking to transfer the assets of that wallet to another one, consuming both time and financial resources (gas fees).
Multiple Chains#
There are now nearly 100 mainstream public chains. If a user chooses to transfer assets across chains, the cost would be high. This would lead to a problem similar to Web2, where if a user chooses to primarily store assets on Chain A, interacting with applications on Chain B would become time-consuming and laborious.
Conclusion#
Web3 is the development trend of the Internet, but it still needs time for construction, accumulation, and iteration. It will also take time for the general public to accept Web3, as most people currently do not understand concepts such as cryptocurrency, decentralization, DApps, and DeFi.
The true arrival of Web3 will be when 90% of countries or regions recognize and support cryptocurrency and the development of Web3.
Looking forward to that day.