Web 3 & Why You should Care By Megan

Web 3.0 is the third iteration of the internet, and it is the read-write-own version of the web. Most people assume that the internet was invented and has existed continuously since then, but this is not the case. The internet is an ever-evolving pillar of life as we know it, and Web 1.0 was created around 1990 and existed until 2004. This was the read-only version of the internet. In 2004, web 2.0 came along, which is the read-write version of the internet. Web 2.0 is the internet as we know it, which allows us to interact with each other online and has given birth to social media.

Web 3.0 is still being adapted by the masses, even though it was invented in 2014. It is the future of the internet, and it is decentralized and trustless. This means that web 3.0 platforms are hosted on multiple servers across the world, rather than on a central server that is owned by a corporation or individual. In simpler terms, it takes the power out of the hands of companies like FAANG and individuals like Elon Musk, Mark Zuckerberg, and Jeff Bezos, and puts it back into the hands of the users.

Data in Web 3.0 is stored on the blockchain, which may seem complicated but is quite simple. Blockchains are the foundation of web 3.0 technologies, and data is stored on immutable blocks that are chained together and governed by multiple people across the world, instead of by a single source. This is what makes Web 3.0 so amazing.

But why should you care about this, and how will it benefit you? Web 3.0 gives you ownership of your digital assets, which means that if you own assets on any virtual platform, the owners of the platform cannot take them away from you, even if you no longer want to use the platform. You have the power to sell or trade your digital assets on marketplaces, and thus can gain a continuous income from any digital assets you have, even if you no longer want to participate on a specific platform.

You cannot have a conversation about Web 3.0 without mentioning cryptocurrencies. Cryptocurrencies are the digital currencies that are the backbone of transactions in web 3.0, and with the fluctuations in their prices, there is a great opportunity to make money if you invest at the right time. However, there is also a risk of losing money if you invest at the wrong time.

In conclusion, in the current bear market, there is no better time to purchase cryptocurrencies and potentially see a major return on your investment. Web 3.0 is the future of the internet, and it gives you ownership of your digital assets, so it is worth considering.