1. web1.0 and web2.0
Web 1.0 and Web 2.0 refer to eras in the history of the World Wide Web as it evolved through various technologies and formats. Web 1.0 loosely refers to the period from 1991 to 2004 when most websites consisted of static pages and the vast majority of users were consumers of content rather than producers. Web 2.0 is based on the idea of "the web as a platform" and centers around user-created content uploaded to forums, social media and web services, blogs, and other services. Web 2.0 is generally considered to have started around 2004 and continues today.
Two, web3
"Web3" refers to "a blockchain-based decentralized online ecosystem." In 2021, the idea of Web3 starts to catch on. The end of 2021 saw a surge in particular interest, mainly due to interest from cryptocurrency enthusiasts and investments from prominent technologists and companies.
3. The disruptive potential of Web3
The core distinguishing feature of Web3 is the decentralization of business models. In this sense, it marks the third phase of the Internet (hence the name "Web3") and a reversal of the current status quo for users.
Web3 is the next iteration that could upend this power structure, shifting it back to the user. Open standards and protocols can return. The aim is that control is no longer centralized in large platforms and aggregators, but widely distributed through a “permissionless” decentralized blockchain and smart contracts.
What does this mean in practice? Essentially, it could mark a paradigm shift in the business model of digital applications by making disintermediation a central element. There may be no need for intermediaries when it comes to data, functionality, and value. Users and creators can have the upper hand, and with open source rather than proprietary applications, there will be an incentive to innovate, test, build and expand.
4. Risks and challenges that still need to be resolved in Web3
Web3 is now expanding into many other areas, including the social sphere and carbon markets, art, real estate, gaming, and more. It is also the cornerstone of the Interoperable Metaverse, a fully virtual parallel universe under construction that is attracting significant investment from consumer companies and venture capitalists alike. As with any new technology billed as disruptive, it remains to be seen how revolutionary blockchain, smart contracts and digital assets will be.
epilogue
Web3 is still a world in creative throes. Many issues need to be resolved, including those around regulation, before convincingly scaling to mass adoption. However, a consumer-centric value proposition—unifying data, functionality, and value, and thereby creating opportunities for new, more efficient applications and forms of asset ownership—is a powerful one.