What makes Web3 different?

What makes Web3 different?

Innovation on the web is the needed oil to transform the internet.

The early development of the internet came as a result of the need to communicate with each other. This also transformed the gathering of information on a global scale as exhibited by various websites and platforms for communication, commerce, education, government, and individual purposes.

Transformation on the web

The development of the internet also created more dynamic websites that could be interacted with by users, which has led to the development of data mining platforms that used the data gathered from these websites to create tools for monetizing user data. 

Subsequently, this can be referred to as what we call web2.0 of the internet that we know as of today, which has been associated with the collection of data without users’ consent for a very long time.

It involves a centralized group of companies responsible for the collation and mining of the user data and is sometimes referred to as “Big Tech”.

Based on analysis and research, it is forecasted that Web 3.0 will be the next phase of growth for web businesses, by developing the interactive and socially connected websites of Web 2.0 

What is Web3?

Web3 or Web3.0 is a literal iteration of the next generation of the world wide web-based on the integration of blockchain technology and associated web services to achieve a decentralized method of access to the internet.

This would create an opportunity for tokenized internet services and economics whereby users can simply connect to the internet from a decentralized platform.

What are the benefits of Web3?

  1. The benefits of blockchain technology include some level of anonymity, transparency, security, and tamper-proof, as it enables users to connect to the internet without giving out their personal data to the web services.
  1. The web3 service enables the users to access the internet by interacting with their blockchain wallet, which is more encrypted and secured than the traditional data entry system associated with web2 which would require that the users enter their personal data for access. 
  1. Users can carry out transactions in a seamless manner using the blockchain wallet by validating the transactions in a smart contract.

Is it possible to integrate blockchain into the internet?

However, there is so much more associated with web3 and its other developments. This can be in the form of monetized gaming otherwise known as play-to-earn game platforms. 

There is also the possibility of interacting in the metaverse which is a virtual world for potential users who would be collaborating with each other from the comfort of their devices while appearing in a perceived virtual location. 

All these are some of the possibilities associated with the integration of blockchain technology on the next level of internet connectivity called web3.

Gavin Wood, the founder of Polkadot in 2014, referred to web3 as a decentralized online ecosystem based on blockchain technology. Coincidentally this created a high level of perception of what the future would look like with blockchain technology.

Fast forward, in early 2021 more projects were developed on a decentralized basis with more emphasis on blockchain technology, metaverse, Web3, and token economy.

It has been noted that the next level of web users would be entirely based on blockchain and its use cases with the essential use of Non-fungible tokens making user transactions unique in all forms.

In fact, in recent years, we have seen the proliferation of NFTs of all sorts being sold on the blockchain and cryptocurrency market space,  which has caused a frenzy of the elites in all works of life to be attracted to the new economy of the blockchain.

The new transitions in Web3.0

Blockchain web application developers, Unstoppable Domains have been at the forefront of the Web3 transformation with the creation of web Domains for users to integrate into their web wallets and other devices.

It would then be an erroneous step to ignore a quality project like the Klever wallet, which has partnered with the Unstoppable Domains team to integrate its services to one of the safest cryptocurrency wallets in the world at the moment.

Needless to say, the Klever wallet has several tools at the user’s disposal to ensure people understand the need to go decentralized and transit to the next level of web3 by the use of our new improved wallet  Klever 5.

This is currently one of the best forms of interacting on the internet by the use of a decentralized wallet system that can boast of user security on the Web.

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Disclaimer: This article is for informational purposes only. The information does not constitute an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Klever.Finance does not provide financial, tax, legal, or accounting advice. There is no responsibility on the part of the company or the author for any loss or damage arising from or related to the use of or reliance on any content, goods or services mentioned in this article.

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