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<h2 id="header-0">Where We’ve Come From</h2>It’s undeniable that Web 2.0, the internet’s current phase, has brought about a massive transformation of the way we use technology. The static, non-interactive web pages of the 1990s are a far cry from how we use the internet today. Starting in 2004, sites like Facebook, Youtube and Google ushered in the so-called ‘Social Web,’ where users generate their own content and participate in virtual communities via social media.<h2 id="header-1">Where We Are Now</h2>Years later, the cracks in the foundations of Web 2.0 are beginning to show. Yes, Big Tech’s emphasis on user-generated content revolutionized the way the majority of society communicates. But now, after years of enormous growth, it is precisely this content – and users’ data – that Big Tech relies on to continue to turn a profit.While the Internet appears to be free of cost, there is a more pernicious price to be paid by its users. As the centralized mega-platforms of Big Tech amass more and more power, users cede control of their data security and privacy to continue using their services.<h2 id="header-2">Where We’re Going</h2>Web3 proposes a radical decentralization of the internet as we know it. Built on blockchain technology, users have full ownership, and therefore control, over their data. By owning and eventually governing small pieces of the internet, users eliminate the need for Big Tech companies to act as gatekeepers.The blockchain technology that Web3 is based on also facilitates the incorporation of decentralized finance and cryptocurrencies into our daily lives. Financial transactions can be carried out without central authorities like banks or payment processors. Not only does this give users more privacy and transparency, but it reduces fees and wait times.Groups known as Decentralized Autonomous Organizations (DAOs) will be formed. DAOs are communities collectively owned and operated by its members, removing all third-party involvement. Voting is decentralized, meaning that DAOs are completely self-sustainable.The wide-ranging applications of blockchain technology will transform Web3 into an integrated, online ecosystem that is completely decentralized.With Web3, NFTs, cryptocurrencies and decentralized finance are also incorporated. Financial transactions can be carried out on the blockchains, without the government or banks as intermediaries. In this sense, Web3 will form an interoperable, online ecosystem that integrates the social, financial and political aspects of society.

What is Web3? | Getting Started in Crypto | KubeCoin

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