Web 3 is a new, rapidly growing extension and modernization of the internet. A good way to understand Web 3 is by comparing it to preceding versions. Web 1 was the earliest popular form of the internet, consisting mainly of simple pages with static text, and relatively little user input, other than sending email.  Web 2 is the current version of internet, providing a wide range of opportunities for user input and participation, together with features we now take for granted, such as online movies, video calls and social media. The downside of Web 2 is that it’s a highly centralized system, in which the majority of network infrastructure is controlled by a small number of businesses and organizations. With Web 2, giant platforms tend not to give direct financial rewards to their users and content creators. Furthermore, recent history has shown that information on these platforms is vulnerable to censorship.

With Web 2, the platform owns the user. With Web3, the user owns the platform. This is because Web 3 is a decentralized version of the internet, allowing users to interact directly with each other, rather than depending upon the centralized intermediaries of Web 2.

Properly implemented, Web 3 creates a fairer online experience to the vast majority of users, and besides that, it’s great fun to use! So get ready for the adventure!

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