What is Web3? Why it's important.

Sam Marksun
December 7, 2022

Web 2.0 was mostly about having one centralized source where users could go to interact and share information with each other. However, we are now seeing a shift towards decentralization, with new technologies that allow users to take back control of their data. This new era of the internet is what we know as Web 3.0. Web 3.0 is the third generation of the World Wide Web, and it is characterized by increased semantic understanding and web user interfaces that are more natural and efficient. Instead of relying on a centralized authority, users can now access information directly from the source.

This decentralized approach has many advantages, including greater security and privacy, as well as more democratic decision-making. In the coming years, we are likely to see more and more platforms moving to a Web 3.0 model. Web 3.0 is characterized by increased interoperability, personalization, and data integration. Web 3.0 applications are designed to be more user-friendly and allow for greater collaboration between users.

The goal of Web 3.0 is to make the web more intelligent and efficient to meet the needs of the growing number of internet users. While the term is still in its early stages, it has the potential to revolutionize how we use the internet and how we interact with each other online. Web 3.0 eliminates the need for centralized servers by storing data on a decentralized network. This allows users to access their data from any location globally, without being reliant on a single point of failure. In addition, Web 3.0 is more secure than its predecessors, as data is encrypted and stored on a blockchain.

Web 3.0 is designed to be more secure than previous versions of the internet by making it difficult for hackers to access or tamper with data. In addition, Web 3.0 is designed to be more user-friendly and efficient, giving users more control over their data.

Web 3.0 enables two key changes to the internet:

Digital Ownership:  The ability to directly hold digital assets without the need for a third party custodian. This can be done with almost anything that exists on or off the blockchain, such as equity or certificates, by using smart contracts.

Interoperability: Interoperability is the ability of you and your digital goods to work together across the internet. This means that you can use different services and software to access and use your digital goods, without having to worry about compatibility issues. 

Web3's interoperability allows your cryptocurrency and Web3 wallet to serve as your secure account and profile on the internet. This means that, along with the data it carries, it can be transferred into and out of other applications easily. When you move from one platform to another, you won't need to worry about remembering multiple logins and passwords. Furthermore, Web 3.0  provides a whole new level of functionality and flexibility for developers. With Web 3.0, you can develop programs based on the assets and activities in a user's wallet. This means that you can easily develop a wide range of applications, authorize access, provide content, and more.

Sam Marksun

Sam is a creative director for the Opus team and helps bring ideas to reality. Sam drives our online success with both beautiful design and production quality development.

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