Web3 - The Future of the Internet

Abstract

Web3 is introduced in 2014 to undo all the problems that came about in Web 2.0. This next generation of the internet is focused on shifting power away from big technology companies and towards individual users by Decentralization – instead of relying on a single centralized server, Web3 is built on top of blockchain-powered crypto networks that enable data to be stored across distributed devices worldwide. Ultimately, these distributed nodes can be anything, such as computers, laptops, or even bigger servers. They assist as the framework of the blockchain, collaborating with each other to enable the storage, spread, and safeguarding of data without the need for a trusted third party.