While web2 regales for the current generation and has been doing so for the past two decades, the discourse surrounding web3 seems to get folks electrified. Web3 is touted as the future of the internet. But what is the difference between web2 and web3? We explain the core differences and similarities AND asked 20 experts to share their knowledge on the matter!
Firstly, we need to understand that web2 does not refer to any technical upgrades on the web. It simply refers to the switch from a read-only, content delivery network in web1 to an interactive form of the internet. Web2 is the shift from an era of static web pages to a dynamic one, it is the transference in thinking and focus on web design. In the earlier version of the web, only people who could code/program could generate content. Presently, anyone can generate a vast variety of content on an extensive array of platforms. The emergence of web2 brought about the likes of Facebook, Twitter, Instagram, WhatsApp, YouTube, Reddit, and TikTok, among many others. On these applications, users can create content of different forms without the knowledge of programming.
Web3 is a decentralized online ecosystem built on the blockchain. It advocates emphasizing user privacy and ownership of data. In web3, the control lies with the users, rather than with central authorities. We become the owners, whereas we were the product in web2 and consumers in web1. It postulates a world where companies don’t have CEOs but rather, are run by the people. Key decisions aren’t made by one person or a small group of executives, but rather, by a multitude of individuals.
Web3 hasn’t been implemented on a global scale yet, as it is still relatively premature. Finance is an ecosystem where snippets of web3.0 have been implemented. Decentralized finance (DeFi), is a system where financial services are carried out on a decentralized platform. Lending platforms, exchanges, and wallets are among those services that have adopted DeFi.
| WEB2 | WEB3 |
| Services focus on interaction | Services focus more on decentralization and semantic learning |
| Payments are usually made via fiat money, I.e Government issued money. | Payments are made through cryptocurrencies like Bitcoin and Ethereum. |
| With web2, central servers assume control of information storage and access. | Web3 lets data be exchanged in several locations simultaneously. |
| The focus is primarily on community development | Focuses on empowering individual users. |
| Web2 transfers are quicker as they scan for information in a fixed place that is on a single server. | Web3 assigns ownership to numerous others, thus a multitude of individuals need to validate such operations. |
| Information can be censored | Information cannot be censored |
| Most common web2 technology makes use of AJAX, JavaScript, HTML5, and CSS3. | Web3 technology makes use of deep learning, decentralized technologies, the semantic web, and artificial intelligence. |
We have asked experts to share the differences between web2 vs web3 with us. Preferably in a very easy-to-explain way.
“Web 2: centralized, identity and information about identity is exploited to serve targeted content and ads, companies like PayPal and stripe own payments and control who gets paid when, Web 3: decentralized, identity is preserved, payments are not tied to identities, therefore, cannot be prevented
Web1 is the “read-only Web,” Web 2.0 is the “participative social Web,” and Web 3.0 is the “read, write, execute Web
Web3 leverages encryption and distributed ledger technology for resolving the concerns of trust, which were evident in Web
Privacy and security problems in web2 are solved in web3. For example, I no longer have to worry about Facebook knowing what my interests are in the internet to serve targeted ads to me.”
“Web3 is rooted in the concept of decentralized control. The major difference between web2 and web3 lies in permissions. Whereas your bank has the ability to restrict your account at their discretion, nobody can restrict your Bitcoin wallet. Decentralized applications built on platforms like Ethereum can offer similar services to websites like Facebook and Twitter, but instead of using a corporation to manage the service, publicly accessible code is responsible for defining limitations/restrictions.
The average internet user will likely see no significant changes in their daily internet activities for the foreseeable future. While web3 platforms are already accessible, there is a level of technical skill necessary to interact with these services. Web3 will not see widespread adoption until the average (not technically skilled) internet user can interact with a web3 service as easily as they can interact with a web2 site. Read this article on how to get a job in web3.
Web3 is important because of the problematic long-term implications of central authorities restricting access to information. However, this is not why the buzzword has seen so much use over the last few years. Web3 is a hot topic because cryptocurrencies have received an unprecedented level of interest in the ’20s. Marketing relies on buzzwords, and most cryptocurrencies are based on marketing and greed instead of implementing a potentially revolutionary set of technological breakthroughs.”
“The key difference between Web 2 vs Web3 is ownership of your content. Instead of big tech companies owning, and censoring content, you own it and control what is consumable and where.
For the average consumer, you may not notice a difference. You will be required to pay for content more and more and can even earn revenue from your own content. Right now large tech companies on ‘content’, not the producers, Web 3.0 puts producers in charge of their content, something we desperately need in light of recent censorship actions by big tech as well as them profiting from user generated content.”
“Web2 is focused on building technologies that enable users to interact with each other and exchange information, while web3 emphasizes decentralization and security. Additionally, while web2 relies on centrally-located servers to store data, web3 makes use of distributed ledger technologies such as blockchain to store data in a decentralized way. This makes web3 much more resistant to hacking and data breaches. Finally, whereas web2 applications are typically accessed through a traditional browser, many web3 applications are accessed through special browsers or portals known as “wallets”.
Web3 is essentially the next generation of the internet, and it’s all about giving users more control over their data. With Web3, you’ll be able to own your own data, instead of big corporations or governments. You’ll also be able to interact with decentralized apps (dapps) directly, without having to go through a middleman. And because everything will be running on the blockchain, it will all be highly secure and transparent. Web3 is still in its early stages, but there’s already a lot of excitement around it because it has the potential to radically change how we use the internet.”
“The internet age is, in my opinion, the most well-known and pervasive period in human history. Web2 was created about 1999 and became popular around 2006. Thanks to technologies like WordPress, user-generated material became more accessible, and browsers improved their user interfaces to make it simpler to locate information. Web3 is a decentralized version of the internet in which individuals build and own platforms and applications. In Web2, users have control over what they consume and produce but have no control over the platforms on which they consume and create. In Web3, users have complete control over the platforms on which they consume and create.”
“Web2 is the older, more traditional model of the internet which is centralized and controlled by a few large organizations. Web3 is the newer, decentralized model of the internet which is powered by blockchain technology.
There will be a big difference for the average internet user if they are using decentralized applications (dapps) that are built on top of a blockchain. With dapps, users can interact directly with each other without going through a central authority. This could potentially revolutionize many industries such as banking, social media, and e-commerce.
What is web3 solving that web2 can’t? Web2 is centralized and controlled by a few large organizations. This can lead to problems such as censorship, data breaches, and high fees. Web3 is decentralized and powered by blockchain technology. This means that it is more secure and efficient.
Web3 is so important because it has the potential to change the way we use the internet. With its decentralized nature, it is more secure and efficient. It also allows for direct interaction between users without going through a central authority. Now is the perfect time for web3 because blockchain technology is becoming more mainstream and people are beginning to see its potential. Additionally, more and more industries are starting to explore how they can use blockchain technology to disrupt their industry.”
“Web2 is completely centralized in a company. For example, youtube.com is a media service provider that allows users to upload their own videos. If YouTube decided to shut down its site, users couldn’t do anything about it. Or if YouTube decided to remove, hide, or change a user’s video, there’s not much a user can do to stop them.
In Web3, platforms are decentralized systems, so there is no way for a company to edit or change a user’s content. The user owns the rights to it, not the media service provider. That shifts the balance of power away from large companies. The average user may not notice any difference between web2 and web3. The difference will show up most for internet creators and influencers producing content. In web3, these creators will make more money and have more power over their content.”
“Web2 is all about user-generated content and interactive web pages. Social media platforms are the heart and soul of Web2. Unfortunately, in most use cases, users of Web2 platforms can’t monetize their own content, and in many cases don’t even own it. The platforms gather data on users and sell that data to third parties while under the threat of security breaches constantly. Users are vulnerable to platforms, hackers, and unknown third parties who could buy their data and use it for purposes users may not approve of or appreciate.
Web3 promises to put control over content monetization, intellectual property, data, and identity into the hands of users.
Users will notice the difference because they’ll be in control. What that means on a practical level is they’ll access platforms and services through protocols that Web2 doesn’t provide. For instance, MetaMask is a browser wallet that provides users with a way to collect payments directly from other wallet holders. No mediary is necessary. So, an artist who sells a music video, book, or painting on their website can take payment directly from their customer and deliver the product directly to the customer using the Web3 protocol without paying a percentage to a service such as PayPal or a bank for collecting the money. It’s direct, wallet-to-wallet.
This system allows the customer to remain anonymous since the artist doesn’t need to collect an email address or other identifying information. The artist gets to monetize her content while the fan can enjoy the content with neither party exposing critical private information that could lead to identity loss.
Keep in mind that we’re still in the early stages of Web3, so not all the tools are built yet. Some of them are. The basic building blocks are there, but I’d expect them to get better over time and newer tools with improved functionality will arise to meet the needs of Web3 users as it evolves into a more robust internet. At the center of Web3 philosophy is decentralization. Web2 is inherently centralized. That is the platforms that users spend most of their time on are owned and managed by a corporation that doesn’t give the user any voice in the operation of the entity or ownership of the asset. Web3 is promising to change that by exchanging platforms with protocols, which are not owned or controlled by anyone and which allow anyone to build on top of them because they are open source and permissionless. As such, creators have more power and control over how they reach their audiences using tools that they own and control.”
“Here is a quick rundown of the web’s evolution:
All worldwide coordination via the internet in Web 2.0 must go through centralized platforms such as Facebook, Google, eBay, Paypal, or Twitter. Unfortunately, we have become overly reliant on these platforms, which have complete control over our data and have the power to destroy any business that runs on it.
Web 3.0 takes the power back to the user via decentralization, privacy, and trust. Users in Web 3.0 can not only read and create content, but they can also own digital assets and the networks that support them.”
How is the average internet user going to notice the difference?
“When internet users can’t tell the difference, Web 3.0 will be widely adopted. Web 3.0 is decentralized and open, with enhanced privacy and trust. However, with more freedom comes more responsibility.
Users in Web 3.0 are not dependent on third parties, therefore they are ultimately responsible, which may be a disadvantage for some. The risk and consequences of user error are greater than in web 2.0 and traditional finance.”
What is web3 solving that web2 can’t?
“Web 3.0 primarily focuses on the problem of centralization. Centralization has a few problems: corruption, mismanagement, censorship, and fragility (target for both hackers and government litigations).
By decentralizing the web, Web 3.0 returns the power back to the users, returns content rights to authors, provides more secure online tools, decentralizes monopolies, and builds more robust services and products without a single point of failure.”
Why is web3 so important and why now?
“Web 2.0 has become unduly reliant on a few companies that act as the internet’s gatekeepers, with complete power over our data and the internet’s future. They have also accrued nearly all of the benefits of the internet (Winner-Takes-All effect).
Web 3.0 takes the power back to the user by enabling women, men, machines, and enterprises to trade value, information & work without the need for an intermediary. Web 3.0 reduces the trust necessary for global coordination as well as allows users to “own” and shape the future of the internet. By having a “share” and a “say” in the networks in which they have invested, users benefit directly from the next evolution of the internet.”
“Web2 vs Web3? Web2 refers to the second generation of the internet– primarily the mass adoption of image and video-rich interactive social media platforms, a few of which now hold an incredible amount of power over our society. Web3 refers to a new form of the internet, focused on blockchain-based decentralization, the metaverse, and the adoption of cryptocurrency as an alternate payment method.
Web3 may not, at first, be noticed by the average user. However, more and more users will likely intentionally begin to adopt Web3 platforms for social media, investment, gaming, payment and banking purposes.
Web3 is important because it makes things more efficient, and puts a lot more power back into the hands of the individual user.
For example, in the next few years, almost all online games will be hosted on Web3 platforms and contain collectible NFTs, which users may be able to sell for profit. This may be able to make gaming a real career for a wider variety of people.
Many legal agreements, such as titles and deeds to property, will also come in the form of NFTs, and will require Web3 platforms as well. This means that property will be able to be transferred from one person to another with a single click, without the need for expensive lawyers, middlemen, and paperwork.
With concerns about censorship mounting in many areas of the world, blockchain-hosted Web3 websites, which cannot be censored, may also become increasingly popular.
In the developing world, more than 1 billion people are currently unbanked, meaning that they don’t have access to any kind of banking services, however, decentralized crypto applications are beginning to change this. These Web3 applications also reduce the need for expensive remittance services, which can charge workers fees of more than 7% simply to send money back to their families.
Another problem that the Web3 industry would like to address is the issue of inflation. While the Web3 industry has not yet succeeded in creating an inflation-resistance cryptocurrency, the tools that Web3 provides make this a real possibility, and several projects, like Volt and FPI, are currently underway.
Finally, Web3 may bring a rapid transformation in how social media works. Instead of huge companies gathering and selling our data, Web3 may allow us to control where, when, and how our data is used. Instead of being the product of social media, we could once again become the customer, reducing the power of big tech and helping to eliminate the psychological dangers of ultra-targeted advertising. One day, Web3 could even allow us to take our followers from one platform to another.
Less control from big tech, banking for the developing world, and a better financial system can’t wait. Neither can Web3.”
