We'll look at different aspects of web 3 technology in this article.

I have to admit that trying to take in all of the information about it is a little overwhelming.

So, after hearing from readers who said they were even more confused after reading a previous article I did on describing Web 3.0 to a beginner, I have decided to break it down into smaller chunks this time to make it easier to swallow.

So I'll try to explain it as simply as possible in the most basic English terms I can think of. Hopefully, this will help in my effort to simplify things.

Let’s dive into it.

Who came up with the name for Web 3?

We’ve got to start from the roots if we are to understand anything, right?

So, where did the term "web3" originate?

Gavin Wood is the man behind the moniker "web3."

In 2014, he coined the phrase and everyone has been using it ever since.

However, as the years have passed and blockchain technology has expanded beyond only cryptocurrencies, the phrase has gained in prominence.

What is Web 3.0, exactly?

This is, without a doubt, the first query on the subject. I'll use an example of what we've all done. Eat.

I believe I am not the only one who loves food. Am I?

So, if I give you crisps to smell but not taste, or munch on them and feel the tastes in your mouth before swallowing them, you're basically consuming a phantom of something you think you're eating.

That was a static web back then, or what we refer to as web 1.

Remember, all you had to do is open your browser and start reading.

You consumed whatever information was contained within. No feedback option or opportunity to express your opinion. tasting to see if it is as good or bad as it looks, was not on the service.

Then Web2 came and opened doors to an internet that fascinated us. Don't we all love it?

You now can do lots of things on the web.

Upload your images to Instagram and share them with the rest of the world. Groups and pages were introduced by Facebook.

Interaction with the rest of the world has never been easier.

What could be better than that, right? Isn't it nice to get a taste of the internet?

Thanks to Google, you can advertise your brand to anybody, anywhere, at any time.

There is, however, something that can surpass tasting.

What good is it to market your products all over the world but only sell to a select few due to limitations?

Web2 didn't have any restrictions, yet it did have some. Do you get it?

Don't worry if you haven't yet. Continue reading to learn how web3, fueled by blockchain technology, is changing things.

When you only get a whiff of what it smells like and don't consume or feel the fullness of the actual food, you could be fooled into thinking it's good or horrible, depending on how you feel about it.

This leads to contentment with the outcomes. Are you, however, truly satisfied?

So, what if I told you that you can smell and taste the meal as well?

It's okay for you to eat it. And here's the best part: if you don't like it after chewing it, you can spit it out and remove it from your menu, meaning you'll never have to deal with it again.

You also know how you acquire a sense of smell and taste yet can't get what's on the menu because there are boundaries?

That is what Web 3, which is based on blockchain technology, is all about changing.

Limits are being removed.

We smelt the crisps and enjoyed them on web 1, but when web 2 arrived, we were able to taste them and felt even better.

We created social accounts, interacted with individuals globally, and saw diverse perspectives and facets of people's lives.

We also sold our merchandises to people outside of our social circles, and we were a part of the process of creating some of the internet's most popular material.

Web 3 is now providing you the opportunity to crunch on this snack.

Yes, and the best part you keep it if it tastes as nice as it looks and smells. If you don't, you'll spit it out. If you have read how blockchain technology works here.

You don't have to smell what you don't want to eat or taste what you don't want to eat any longer. You can customize your menu to your preferences.

Do you recall the Facebook data privacy lawsuit? Or the way you Google "10 ways to make your eyes big!" and the first video on your YouTube feed is "10 ways to make your eyes pop!"

Web 3.0 blockchain technology empowers you to keep your information private. Control how much information can be accessed and used with or without your permission.

As a result, you have the opportunity to see, taste, and eat. With web3, we get to have the no limits that we thought we had with web2.

You may advertise your things on the internet, but not everyone can buy them since your bank doesn't accept transactions from other countries, some country you or your customers may be in have restrictions, and so on. When I say 'no limits, had limits,' I'm referring to this.

Is Web 3.0 already in use?

Yes, Web 3.0 has already been developed. It isn't fully functional in all of the technical tools we use, but it is obviously being used in some portions of the internet.

Blockchain technology underpins Web 3.0. As a result, web 3 encompasses cryptocurrency, NFTs, and web 3.

Web 3 technology will improve AI and augmented reality. I’m stating improve because we already have an experience of this technologies if you are a gamer or have played the likes AlphaGo, StarCraft II,etc.

We will be able to live in virtual reality thanks to Web 3 technology. And, with the tech industry getting even more creative with augmented reality glasses right now, we're looking at a future where technology has no imagination.

Imagine sitting at home on your couch while your virtual self is in a business meeting or scuba diving in the Caribbean.

Right now, it's only a pipe dream, but thanks to web3 blockchain technology, it will become a reality in the not-too-distant future.

What is Web 3 also known as?

The semantic web.

Rather than running on a single computer as in a centralized system, the software will bounce off multiple blocks of machines, giving you privacy and removing data collecting from a single source.

Is Web 3.0 the future?

This isn't a yes-or-no question.

As much as Web 3 is referred to as the future, it is also currently in the present.

As I previously stated, it already exists because certain technologies like Apple’s Siri, have used it.

For these reasons, I will state, Web 3.0 is both the present and the future.

Is Web 3.0 blockchain?

When you hear the term Web3, the term blockchain is just behind it.

Because Web 3.0 is based on blockchain technology, this is the case.

Blockchain technology is what is used to build Web 3 applications.

Dapps is the abbreviation for "decentralized applications."

“D” stands for "Decentralized"

When learning about web3, you'll also come across the word "DeFi."

This is because the web3 is set up in such a way that everything is purchased using cryptocurrencies rather than commodity-based money.

“Fi” stands for finance.

"DeFi" stands for "Decentralized Finance."

Dapps are not controlled or run by a single machine.

They rely on blockchain technology to function.

They don't need a central governing authority to approve or maintain.

What is the significance of Web 3?

If you want to understand why Web 3 is significant, you must first look at how currently use the internet.

What websites can offer you and what websites can take away from you, with or without your consent.

Right now, there's no way to say no to obnoxious advertisements unless you install an ad blocker, which may cause you to miss out on some content.

No, there isn't anything wrong with commercials. However, I don't want to see a tooth-whitening commercial if my teeth are already white or I don't have any teeth to begin with.

Same with taking users' data and using it against them. Just because you were googling the meaning of blue, now you drown in the different shades of blue recommended on every site you visit.

Just because you were looking up the definition of blue on Google, you're suddenly drowning in the various hues of blue advised on every website you visit.

So now that you have a better understanding of your present web scenario, you can see why web3 is so vital.

It gives you the ability to keep your personal maneuvering on the internet private.

If they can’t take your data, they won’t be able to use it. Simple.

These are some of the things you'll have a say in once it's properly optimized for consumer usage.

Why is Web 3.0 important?

Because it allows and encourages users to be creative and earn from it. You can click here to read more about this.

It eliminates monopoly dominance.

Everyone has the opportunity to not only create but also contribute to the content that is made available for consumption.

Your piece is yours alone, and no one else can claim it.

It really makes copyright enforcement a little easier than it is currently.

Blockchain blocks are one-of-a-kind.

They are unique and cannot be reproduced.

It will be marked as void if I have one bitcoin and another bitcoin is created with identical figures.

As a result, it can't be bought, traded, or exchanged in the crypto market.

The same can be said about NFTs. When you develop an NFT and offer it on the market, and someone else creates an exact copy and lists it as well, the second one will fail.

It makes stealing someone's work a little more difficult.

As a result, both dorks and celebrities benefit from Web 3.0 technologies.

I'd want to present you with a real-life scenario.

Right now, if I upload a music to YouTube and a famous figure uses it, it can easily pass as their property, and proving ownership will be difficult if they don't give you credit.

Creating on web3 which is based on blockchain technology, no one can own your art unless you give consent. Like we see with blockchain technology, hacking is almost impossible.

Why is the Web3 significant?

It’s technology instills and implements ownership 100 percent.

The blockchain software will always recognize you as the original owner, whether someone right-clicks and saves your work as their own or attempts to sell it.

How will Web3 benefit our lives?

The first advantage will be fewer unwanted advertisements. We all despise those annoying commercials. That is why there are so many ad filters on the market.

So having this gone from our internet experience will be wonderful.

Second, each of us will have the opportunity to be creators. No more being kicked off a platform or muted unnecessarily.

There's nothing wrong with a little healthy rivalry, and web3 understands this.

Third, there will be no more monotony. We'll have a lot of content alternatives. Monopoly might cause you to miss out on wonderful opportunities or feed into the bad ones.

This is the advantage that I believe is the most important when it comes to web3 technology. Businesses may operate from anywhere in the globe with anyone with DeFi and Dapps. There will no longer be a problem with me being unable to access a specific bank, preventing me from transacting business with you since your bank does not take currency from this country.

How can you become a web3 developer?

Learn about smart contracts.

Join communities that interest you

Become a part of open source communities.

Solidity

Learn the basics of blockchain technology.

Make a wallet for Ethereum

Learn about web3.js and ethers.js frameworks.

Create projects

What are some of the examples of web3?

Apple’s Siri

Amazon’s Alexa

Wolfram Alpha

NFT's music and art

What is the best way to invest in Web3?

You can get engaged with a new startup as an investor, advisor, creator, advertiser, developer, marketing, or writer.

Why should you invest in Web3?

Do you need more convincing than the reasons I’ve given above? Honestly, though, if you haven’t heard already, investing is all about taking risks.

Also, the people that benefit most are usually the ones that come first. Microsoft, Facebook, Amazon, Netflix, and Google are good examples.

Microsoft took it and ran with it. It was all about Internet Explorer and Windows until Facebook came along and changed everything.

There are other search engines available, but we all use Google since we are so accustomed to it.

Not to mention any other streaming service that followed Netflix.

Any more software applications that came after these either gets purchased by them or is lost in cyberspace.

So, Web3 is still in its early stages of development. People, including myself, are learning about it. If there was ever a time to jump in, it’s now.

The big fish are already dipping their toes into it. Take a look at Metaververse, which was formerly known as Facebook.

Apple's coming up with some cool stuff for the consumers like the awaited AI/AR glasses later on this year or early next year.

There’s a demand for web3 developers, which there aren't many of. So, as a developer, now is the moment to enter this market before it becomes inundated.

As an investor, you may look at startups and identify which ones have the most potential, then back them up from their start.

You never know, you might turn out to be a shareholder of the next Metaverse.

To be clear, Web3 does not imply that we will all have our own Google, Microsoft, or other major company that you know of.

That the big tech corporations will collapse and that everyone will be out on the internet streets creating their own content to utilize. That’s a circus!

Not in the least. That isn't even possible. We can't all be creators or owners. What web3 promises is a foundation for internet freedom.

As you can see, despite the fact that web2 absorbed web1, Microsoft did not vanish. It lost its balance for a brief minute.

However, it caught up with the times and now we have Microsoft Edge.

Excell is still good at what it does, and they've modernized to keep up with the competition.

I don't want to lose Google, after all. Do you?

Don't be fooled into thinking that owning anything entails creating your own Google to personalize your searches. or your own Facebook. It can't be fun, can it?

Simply put, ownership means they can't use your information without your permission.

Continue reading to learn how businesses are already using this web3 technology into their business.

Everything will be decentralized, from currency to programs and creations, so there will be no limit to what you can buy, access, or produce.

You can transact, travel, party, play games with friends, or do pretty much anything you want online with the help of innovative technology like augmented reality.

How are businesses embracing Web3?

You may have recently noticed requests to personalize your ad preferences from your commonly used apps.

The implementation of not bombarding you with adverts that aren’t to your interest is in the making.

You are having control of what you see.

You might not be getting the full experience yet because it’s in development but you get the idea, right?

You can use this technology to It's possible that you're still not getting fully personalized advertising to your liking.

Because apps are still evolving into web3 technology, this is the case.

The big five, or FAANG as tech world like to call them, aren't going anywhere, and I don't want them to. I believe you share the same sentiments as well. Right?

Now with the current iOS 15, you can choose whether or not to enable an app to monitor you when you download it from the AppStore.

Another Web 3 feature that we are walking into.Owning your data, how and when it is collected.

It’s clear that businesses have begun to embrace the new technology.

So, if you thought you'd never heard of web 3 technology or that it wasn't in use, think again. You've seen it in action. In fact, you've already used it.

It is gradually gaining traction among a wide range of users. And it’s no longer just about cryptocurrencies.

We are transitioning from an era in which data is generated from users without their agreement and utilized for the benefit of a single firm to one in which people consent to their data being used and benefit from it as well.

We are all gonna make it in Web3 #WAGMI

Let’s continue the conversation in the comments section. Are you absorbed in Web3 yet?