WEB 3.0
THE WEB 3 Web3 (aka Web 3.0) Web3 (aka Web 3.0) is the idea of a new iteration of the World Wide Web that incorporates concepts such as decentralization, blockchain technology, and token-based economics. Some techies and journalists have compared this to Web 2.0. In Web 2.0, data and content are centralized in a small group of companies sometimes called "Big Tech". The term "Web3" was coined by Ethereum co-founder Gavin Wood in 2014, and in 2021 the idea sparked interest among cryptocurrency enthusiasts, tech giants and venture capital firms. However, it was in his 2013 that the concept of Web3 was first presented. Some have expressed concern about the concentration of wealth in the hands of a few investors and individuals, and the loss of privacy due to increased data collection. People like Elon Musk and Jack Dorsey argue that Web3 only works as a buzzword or marketing term. Background History of the World Wide Web and Web 2.0 Web 1.0 and Web 2.0 refer to histo...