Web 3.0 and Metaverse

With time, the Internet has accumulated a vast amount of knowledge. Prior to monetization, knowledge was accumulated only as read-only content. The internet has had three main epochs of growth in which knowledge and consumption have evolved. Now it is monetized, many businesses and individuals use it for income.

Web 1.0

In this era, individuals and businesses were displaying their information on the internet for the first time. The content of these sites mainly consisted of read-only content and was used for research purposes. Web 1.0 consisted of hardcore HTML code sites with no interactions and monetizations. Think of it as one big Wikipedia. This trend lasted from 1991 to 2004 and users of the internet were consumers rather than profiteers   

Web 2.0

The new era refers to the post-dotcom era and focuses on social media. The internet consumes information from the general public and focuses on content creators. Web 2.0 is considered the age of advertisement and unrestricted access to private information. It also includes social networking and cloud computing, which hadn't been around before. It was coined by Darcy DiNucci in 2004 and popularized by Tim O'Reilly and Dale Doughtery at a conference in 2005. A Web 2.0 site encourages and invites users to contribute content instead of reading what's already available online. It provides storage, creation, and dissemination of information that was not available in web 1.0.

 

Web 3.0

Web 3.0 revolves around the idea of decentralized networks and open website experience. A data-driven and semantic web will be built using a machine-based understanding of data to provide a data-driven experience.

Internet 2.0, or the worldwide web as it is commonly known, is characterized by social media platforms, which allow more user-generated content to be shared. It has been touted as the movement that will restore control of the internet back to the five big tech companies with its use cases involving crypto, blockchain, and the metaverse. As Web 3.0 becomes a reality, users will be able to own their own blockchain networks instead of being controlled by centralized companies. Contrary to Web 2.0, Web 3.0 focuses primarily on specific problems and offers reliable solutions. It is a reaction to the walled-garden ecosystems created by platforms like Facebook and YouTube, which resulted in data being taken, privacy being violated, and the right to control the content being suppressed. In contrast, Web 3 focuses directly on issues of ownership and control.