Web 3.0 is the next generation of the internet which people envision will be more decentralized and permissionless. One that's built on decentralized protocols, where users help with content creation and the governance of the web itself. They also have the ability to own a part of the network, so you can think of it as a read - write - own Internet. Thousands of dApps (decentralized applications) are already being built in the Web 3 environment. These often include native tokens to add value to the application to those who hold the tokens. These native crypto assets allow those who participate in the network to share in the value generated from it. Web 3.0 promises a decentralized alternative where we are all users and machines are able to interact with data, value, and other counterparties via a substrate of peer-to-peer counterparties via a substrate of peer-to-peer networks without the need for third parties-the result; a composable human-centric and preserving computing fabric for the next wave of the Web. WEB 2 versus Web 3 - The main difference between Web 3 and the Web 2 era is that in Web 3, there are no centralized databases where you store the application state. In the case of blockchains, it's stored on a decentralized ledger where distributed nodes all agree on the state of the network. The takeaway from Web 3 architecture is that the backend infrastructure is inherently decentralized across nodes with the singular purpose of maintaining the network. If one of these nodes is hacked, it doesn't affect the state of security of the broadernetwork. Moreover,
a distributed network is cryptographically secure. There is no way someone can underhandedly alter a smart contract code unless they have the keys. Any updates to the Smart Contract are Time Stamped and immutably stored on the blockchain forever. The cryptographically secure nature of a decentralized blockchain means that you don't have to trust anyone with your data. You don't have to trust that they keep their service safe and that their apps won't have malicious components, the code is fully open source and auditable for everyone to see. Furthermore, there is the ability to build on top and evolve to something better, with no need for third-party developer API access. What gets people so passionate about Web 3 is that you can shape the direction of these applications, and you can share in their success. Economically, Web 3 allows a system to flurish where participants can work together towards a common goal-network growth and token appreciation. There are pro's and con's to a centralized internet. The pros are what it has allowed the internet to expand due to the services provided by the ISP's and also the popularity of social media platforms, convenience, and usability. Web 2 has transformed the way we view the world, but the cons are that it's also enslaved us to a system that enriches a chosen few. Since it has been centralized, there is not much choice for users. A user's access to the internet is at the mercy of their provider and the platform. This is a point of failure, not something the original internet was designed for. The beauty is that everyone can share in the incentives, not just venture capitalists or share holders. Decentralized technologies will trump the centralized status quo, weather in the case of finance with crypto or the entire internet with Web 3, including social media and market networks. When a community comes together to build something that they all benefit from, it's destined to succeed. Markethive.com is God's plan.
