The Internet had only static content in the days of Web 1.0, and it was read-only. Web 2.0 allowed users to interact with the existing data and create custom ones. Finally, we are now approaching a new stage — Web 3.0.
What is it and what does blockchain technology have to do with it? Let’s find out.
Decentralization is the key trend in the transition from the 2nd generation Internet to the 3rd generation Internet, and blockchain technology serves as the technical foundation for this transition.
The power of tech giants like Facebook and Google has become noticeable now, as they can easily block any user, significantly restrict people’s access to content, or on the contrary, offer huge preferences at their discretion.
In addition, they do not hesitate to use any collected personal data to target ads, enjoying huge profits. As a result, they act against the user’s interests.
Therefore, the trends that will determine the transition to Web3 include the transition to digital money, DeFi, strongest protection of user data, shifting away from a centralized structure, and elimination of any censorship.