Web3

Web3 is the new generation of the internet where users can read, write, and own their data without a central authority.

Before that, we need to understand the evolution of the internet from Web1 to this stage.

Web1 was the early stage of the internet. Users could not own their data and had little or no interaction. They could only read information.

As the internet evolved, Web2 was introduced with better improvements over Web1. Users could interact with data and also create content, comment, like, and share, just like on social media platforms. However, the power still remained with central authorities because users do not truly own their data (e.g., Facebook and X).

Web3 introduces decentralization through blockchain technology. It allows users to own their data without any central authority.

Therefore, Web3 is the new generation of the internet built on blockchain, where users can read, write, and own their data.

Based on this, we can understand that Web3 solves the limitations of Web2, while Web2 improved interaction and content creation that Web1 did not have.