Internet Era#
Since the birth of the Internet, it has been continuously evolving and has gone through many eras.
- Web1: Started in the 1990s, when people began connecting to the Internet and consuming content, but did not publish or contribute themselves.
- Web2: Emerged in the early 21st century with the rise of social media, faster Internet speeds, and mobile devices. This period 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 users owning data, open-source software, decentralized platforms, property rights, collective action, digital currency (cryptocurrency), and interoperability.
Web2 vs. Web3#
Web3 aims 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 are the advantages of Web3 applications? The table below answers these two questions.
| Web2 | Web3 |
|---|---|
| Each website is a separate account, not interconnected | Use a single 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 | Most personal data on websites is controlled by users themselves |
| No digital ownership or property rights | Users have digital ownership and property rights |
| Data between websites is independent and cannot interact | Websites have high interoperability and can exchange and operate on user personal data |
| Websites are relatively closed, making it difficult to transfer data to another platform if a user chooses to record data on one platform | Platforms are more open, allowing users to switch platforms at any time and transfer personal data to another platform |
One of the most significant differences between Web3 and Web2 is the importance of wallets. You will connect your wallet instead of creating separate network accounts for each site you visit.
Personal Understanding#
I personally think that Web3 still has some issues, or maybe these are not considered issues because I am just getting to know Web3.
Wallet Mnemonic Leakage#
How to change wallet mnemonics or private keys? If leaked, transferring the assets of this wallet to another wallet will be a significant undertaking, consuming both time and financial resources (gas fees).
Chain Complexity#
There are now nearly 100 mainstream public chains. If a user chooses to transfer assets across chains, the cost is not low. Therefore, a problem similar to Web2 may arise, where if a user chooses to primarily store assets on Chain A, interacting with applications on Chain B will become time-consuming and laborious.
Conclusion#
Web3 is the major trend in the development of the Internet, but it still needs time for construction, accumulation, and iteration. The public's acceptance of Web3 also takes time, as most people currently do not understand concepts such as cryptocurrency, decentralization, DApps, and DeFi.
When 90% of countries or regions recognize and support cryptocurrency and the development of Web3, that will be the true arrival of Web3.
Looking forward to that day.