I am pretty sure that if you already are in the crypto universe you heard about Web 3.0. If not, don’t worry you didn’t lose anything big, yet. So today I want to tell you a few things about Web3, like what it is, what it does, and how it can help us. 

Let’s start with the beginning. What is Web3? Well, it is not so hard to understand. In the beginning, there was Web1 where all the websites were static, just some HTML code that presented information without being able to interact with it. Here you were not able to log in, press the like button, or comment. After that, Web2 came, and everything changed. At this point, we were able to interact with the websites. Here the social platforms appeared and it looks like everyone is able to “touch” the Web. Think about how you are able to like your friend’s post on Instagram, or Twitter, or comment on a youtube video. What we are living now is Web2. But what is coming next it’s called Web3. This new type of web is using the blockchain to eliminate the middleman between two users. Because now, in Web2 there are companies that are connecting you with your friend by a platform, and those companies are using your data to make money. So Web3 wants to resolve this by eliminating those companies behind the platforms. And this can be solved only with the help of the blockchain, because, as you know in the blockchain there are no middlemen, and each user is connected with another user by a peer-to-peer connection. So, in simple words, Web3 is the internet on the blockchain. 

We saw what Web3 is but what it does right now? Well, it does almost nothing, yet. Ok, maybe not really but it is not so far from the truth. The biggest part of the projects in Web3 is on Defi, and many of them are just exchanges. But there it starts to appear also social media platforms based on web3, crowdfunding platforms, browsers, and other kinds. This is only the beginning so don’t be too hard on it. So, as we can see there is something. The things are moving, slow but still moving. But in which way can web3 help us? Well, there are two things that come to my mind when I’m thinking about web3 and blockchain. The first thing is that our data will be ours. It means that nobody will be able to use our data to sell it to make profits. This will happen because there will be no middlemen. We will interact with each other directly through blockchain. The second thing is that we can earn money just by using those dapps (Decentralized Apps). How is that happening? Well if you use a web3 browser you will be paid for the ads you are watching. I know that is not so fun but still, you will make some money just by using that browser. Another method is to be paid for your content by other users. In this way, your work is rewarded. We don’t know yet all the opportunities that can come from using web3 but I am pretty sure that we will find out. 

In the end, I just want to make you aware of web3. Take a look at the projects that are developed there, maybe you will find something interesting to invest in and at some point, it will give you back some nice profits. Or just start to use this new face of the internet and make some money while your identity is still yours. 

 

#ThinkSMART

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Written by : Betuel Saracut

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