The shift from Web2 to Web3 can be a bit tricky. Navigating the learning curve can be steep, especially in comprehending the fundamentals of the underlying technology.
To divert seamlessly, you should be mindful of the evolution. Thus, it is imperative to examine the phases that the web has gone through up until this point.
In maximizing productivity in an interconnected technological world, it is vital to think about what your business stands to gain from all of these outcomes. From an epoch of “Read-Only,” to “Read and Write,” and now “Read, Write, and Own,” the metamorphosis of the web is pretty interesting.
Web 1.0: Read-Only
Web1, also known as Web 1.0, existed between 1990- 2004, and it was characterized by non-interactive websites controlled by corporations and establishments. Users were passive information consumers with limited ability to create content or engage with others.
It was the “read-only web,” as it lacked reciprocal actions and user-generated content. Despite its limitations, Web1 persisted for 14 years as a one-sided, inert system resembling paper.
Web 2.0: Read-Write
Web2, which emerged in 2004 with social media, allowed users to consume and create content. Web2 also introduced an advertising-driven model where companies controlled internet value and traffic. Very seldom did content creators benefit from monetization. Alternatively, tech conglomerates like Facebook and Twitter profited by collecting user data, and advertising to businesses without sharing revenue.
This centralized function resulted in data breaches and privacy infringements as user data was collected and sold to other businesses. Web2 shifted towards user-generated content, but also highlighted the disparity between content creators and platforms, which led to concerns about data ownership and privacy in the digital age.
Web 3.0: Read, Write, And Own
Web3, proposed by Ethereum co-founder Gavin Wood in 2014, offers a solution to the issues of Web2 by not only putting users in control of their data, but also allowing them to benefit from it. Utilizing Blockchain technologies, Web3 embraces decentralization and distributed ownership by users and builders, instead of relying on a few private firms.
Unlike Web2 platforms that require users to trust them with private data, Web3 is permissionless, allowing everyone to access the web without hindrance; while safeguarding identity with Crypto addresses or Ethereum Name Services (ENS). Web3 introduces a new paradigm of ownership, where users are not just consumers but also owners.
It operates through digital currencies for expenses, rewards, and remittances, with economic incentives characterized by peer-to-peer (p2p) interactions without third parties. The rewards and incentives drive users to be a part of Web3, where they have more control over their data and digital assets.
Transitioning To Web3
When considering a conversion from Web2 to Web3, It is necessary to have some insight into the new frontier. To succeed and flourish, don’t overlook examing the drawbacks of what you are adopting, and how to take advantage of that.
Meanwhile, at the core of such a move should be ease of use, and emphasis on users and their needs. That is the essence of Web3, and if you disregard it, the likelihood of a fiasco is eminent.
The process demands a reassessment of the basic physical and organizational structures and installations. What are the infrastructure needs, and how to deploy them?
These are crucial factors everyone must consider critically in this perspective. In the grand scheme of things, don’t discard Web2 completely, but build new structures on top of it.
Tools For Web3 Journey
There is no one-size-fits-all when dealing with the tools required in the Web3 space. However, some accouterments cut across in this endeavor that you will need at all costs.
Learn About Blockchain: Since the underlying technology of Web3 is Blockchain, it is imperative to learn about it. Understanding the technology and its basics can ensure a smooth shift without blemishes. The MoveMint newsletter can be a terrific guide as it is dedicated to assisting African, Black, and Diaspora people to understand Web3 with ease.
Wallets: Whatever it is, one will need a Crypto wallet to be in Web3. There are several of them out there, but again, you need to look into what suits your needs. Crypto wallets are freely downloadable on Google Play Store and App Store.
Use Decentralized Applications (dApp): Decentralized application (dApp) is a sort of distributed open source app that operates on a peer-to-peer (p2p) Blockchain network. To comprehend Web3, you should often utilize dApps. There are over 4000 dApps ranging from games to social media platforms to decentralized financial services.
Experiment with Web3 Tools: There are a lot of Web3 tools out there that you can experiment with in order to gain insight into this frontier. Constant engagement can help you in your journey and transition from Web2.
Keep Learning About New Developments: The Web3 industry constantly changes with new products and services. To stay afloat by, you must keep learning about new developments all the time. Once again, the MoveMint Newsletter is your best companion to keep updated with the trends.
Join A Decentralized Community: Community is one of the most cardinal tools in this industry, and it can never be underestimated. It is a means to learn, share lessons, and build. Joining one is in your best interest.
Be Part Of A DAO: Aside from data ownership, Web3 platforms belong to users like cooperatives using digital tokens that function as stakes or shares in a firm. This technique is a Decentralized Autonomous Organisation (DAO), which allows every member to be part of the decision-making process. Joining a DAO can make your transition adjustable.
Constraints And Overcoming Them
Though Web3 brings countless advantages, it has its shortcomings. The current scalability issues that make transaction fees expensive, especially with Ethereum, are pretty debilitating even though solutions are coming up in Layer 2 Blockchains.
Again, user experience can be terrible by dissuading users, particularly technical impediments to accessibility. Users must realize safety issues, grasp complicated technological materials, and steer not easily graspable user interfaces.
Most people are still in Web3, and education is the key to bringing them into the new era of Web3. Therefore more education is necessary to push mass adoption and fix the broken internet.