Updated: Jan 10
Much of the internet as we know it has been built on a centralized model that hasn’t changed much in decades.
These systems are inherently vulnerable to manipulation, censorship, and abuse. And they’re reaching their limit as more people, and more things join the network.
The Web 3 stack will combine different technologies, such as peer-to-peer protocols and identity systems,
But Web 3 is coming. It will be a decentralized network offering greater privacy, security, and economic opportunities for billions worldwide without access to reliable banking or financial services. Web 3 is still in digitalization now, but when it’s up and running, basic life necessities like money management will open up for billions locked out of digital commerce today.
In the meantime, we can make small steps towards uniting the world using the decentralized blockchain ledger system.
Current online systems are vulnerable to manipulation and abuse. A decentralized web would be more secure.
A decentralized web would be more censorship-resistant and abuse-resistant since it doesn’t rely on anyone central organization, such as Facebook or Google. For example, when a blockchain manages a medical records database, it would be much harder for a government or other malicious actor to censor or alter those records. A decentralized web would be a fairer system more resilient to malicious attacks or accidental failures.
The innovation will make the internet faster, more efficient, and better organized by eliminating intermediaries and unnecessary costs such as powerful search engines, user-facing ads, etc. It could be better on many fronts and create a much more robust network where users have more control over their data.
The Web 3 stack will combine different technologies, such as peer-to-peer protocols and identity systems, that are already being used today but may not be combined into one cohesive design that could completely change how people use the internet.
Ways Web3 will change the internet
A decentralized web doesn’t exist yet, but it’s coming. The technology is in the early stages now. Still, a primary example is that you could use a blockchain to register your property on the new network and then market it to other users through a data marketplace built using the modern blockchain.
The decentralized web will create more equality and opportunity on the internet. Decentralizing data markets and letting individuals sell their personal information provides a fantastic chance to level the playing field for people to share their own unique lives while connecting with others worldwide.