Link to reprint the original text: Web1, Web2, Web3: What's the difference between them- Bitcoin blockchain era
Web1, Web2, Web3: What's the difference between them? The next stage is known for the financial value, security and transparency of digital media.
Encrypted assets
Web1, Web2, Web3: What's the difference between them? The term "Web 3.0" was originally created by Dr. Gavin Woud in a blog post, describing the breakthrough of decentralized Internet. In view of the fact that the government and technology giants continue to exceed the boundaries of privacy and trust, developers try to replicate the cloud based centralized model to reduce privacy risks and better defend against DDOS network attacks.
Web3 is a set of protocols that provide building blocks for decentralized application manufacturers. These building blocks replace the existing traditional network technologies, such as HTTP and MySQL, and provide a new way to create network applications. Web3 provides users with secure and verifiable information, as well as personal sovereignty over the information they provide and economic transactions. By giving users more online autonomy, data related SPOFs, censorship, and trust violations can be minimized.
Readers may ask why the previous online version may be defined, so we need to briefly introduce the history. As we know today, Web1 is the first generation of the Internet, essentially a group of static HTML pages, and there is not much to praise in the user experience.
In addition, web1 cannot pay because the infrastructure has not yet been developed. In fact, it is very common to talk to the operator and read the credit card information by phone. With the rise of mobile phones and applications, the first era of the Internet could be said to have ended in the mid-2000s.
Therefore, social media, search engines, financial transactions, music and video sharing and mobile applications are all representatives of web2. Fundamentally, web2 is about interaction, file sharing and financial connection. In addition, over time, the continuous improvement of hardware and software has become faster, smaller, clearer and more intuitive.
However, these experiences are third-party platforms filtered by Internet service providers, which guide users to collect and store personal data, and usually sell data without users' permission or knowledge. Therefore, in order to stimulate developers to solve these problems, there is a lack of privacy, data centralization, management or thorough review of risk and digital ownership infrastructure. With the release of the Bitcoin white paper, web3 was born.
Encrypted assets
Web3 is unique in that digital wallet is the only sign for users to interact with dapp through digital wallet, and access digital assets on the blockchain network.
Web3 does not rely on trusted third parties to protect our personal data and financial assets, but protects financial scarcity through passwords, personal data sovereignty, and decentralized and distributed networks.
Since the scarcity of digital on the blockchain has been preserved and verified, powerful and complex financial interactions can be conducted online, thus increasing global liquidity and opening up possibilities for new forms of economic activities and cooperation. Finally, Web3 makes the Internet more like a real world, because users will not fall into the risk of data island or audience behavior review.
Web3 stack: blockchain, encrypted assets, dapp and predictor.
First, the blockchain is secure. Decentralized networks and shared financial ledger accounts allow people to store and exchange value without third-party hosts. The blockchain network is the foundation of the three heap network, because they provide a secure settlement layer for encrypted assets and decentralized applications.
As an economic incentive blockchain for blockchain management, cryptocurrency provides accountability among its stakeholders. These assets and their ownership are encrypted, secure and verifiable on transparent classified accounts shared by network participants, and tamper proof exchange media and digital value preservation are provided. Other cryptographic assets can be programmed, even when using protocol functions (for example, indexes).
The stable currency is also very useful as an encrypted asset, because it allows users to exchange more unstable encrypted assets without the web3 ecosystem. Non homogenous pass (NFT) is also a wonderful invention of web3. Because of blockchain, the combination of digital assets and intelligence is immutable and transparent. They protect digital property in this way. The Internet can be said to protect and deliver value better than anything we have ever experienced before.
Decentralized applications are different from mobile and desktop applications (applications) that most people are familiar with. A single entity no longer uses data alone, but is supported by the decentralized infrastructure of network participants. Each participant has its own copy of the blockchain ledger and activity history.
Although seemingly harmless, the decentralization trend of Web3 is promoting the spread of automated P2P financial services such as decentralized exchanges, NFT, smart contracts, blockchain games, metauniverse, asset authentication, and finance.
Despite the optimistic outlook, the full potential of using Web3 still needs to overcome challenges. In order to use its full potential, blockchain and its applications need accurate data from outside the blockchain network, so that blockchain is not limited to data stored in its ledger history. Therefore, the predictor needs to connect the blockchain to the external data, so that its security is crucial to the establishment of a strong and operable Web3 network.
The decentralized predictor is still the key to Web3 interoperability and digital asset security on the blockchain network.
Therefore, predictors obtain and verify financial data for blockchain and DeFi applications, but they can also provide secure off chain computing, such as verifiable randomness, to start dynamic NFT and automatic DAPP or DAO. In addition, Supraoracles is basically interoperable, which means that our prediction network will help ensure the compatibility and secure transactions of various blockchain and secondary expansion solutions, and increase their network effects through cooperation.
Oracle will act as a combined backend for web2 and web3. When data flows back and forth from the blockchain and its dapp, it will act as the guardian of the interoperability layer and data security. In essence, the predictor can extend encryption assurance to financial arrangements not limited to blockchain, dapp and encrypted assets, doubling the combination and economic potential of web3.
Web3 Bank, Cryptocurrency Exchange and Money Market.
With the help of the Web3 decentralized model and unauthorized P2P infrastructure, the advocates aim to create a fairer and more transparent Internet. Fundamentally, this technology allows individuals to gain unprecedented security, transparency and fairness, and participate in complex global financial arrangements. Web3d using the above technology stack has set up subversive use cases in finance, games, real estate, insurance, education, medical care and other fields.
In contrast to centralized and trusted entities in traditional finance, the Defi protocol based on Web3 uses distributed networks and data sovereignty to disrupt bank and asset transactions through past trust and decentralized algorithms. Metamask and Uniswap allow users to hold encrypted assets and trade in the pure P2P market. In addition, some companies basically provide high interest savings accounts and loan services for crypto assets, even offering more attractive interest rates than the most generous statutory financial institutions.
In addition to Defi Exchange and Wallet, loan markets such as Aave also allow users to access unmanaged loan products. Users deposit crypto collateral at different interest rates according to the loan to value ratio of borrowers' collateral, and borrow crypto assets such as legal stable currency. Web3 loan products usually require users to over mortgage before lending, rather than banks holding only a small amount of loan funds.
Cryptographic loans may not look like technologies that serve the people, but a healthy and mortgage-backed money market encourages investment and appropriate resource allocation, because money must be repaid to avoid huge losses, rather than hit personal credit ratings. P2P money markets like Aave encourage the flow of dormant assets and provide more equitable access to capital, especially outside the traditional loan underwriting standards.
Web3 games and different qualitative tokens.
Although financial technology products and services are the most obvious use cases, Web3 has exceeded Defi and loan agreements. Web3 has almost entered all aspects of online experience and interaction, from games to private Internet browsers, to NFT casting and trading.
First, moneymaking games like Axieinfinity are changing the game community's view of encrypted assets. Players cast their characters into NFT and train them to improve their ability in the whole game.
Then, these NFT characters can be sold to new players who want to spend time training their game characters in the secondary market to experience advanced games. Therefore, the whole economy was born in the game community, and some players gained enough income to maintain their economy, especially in low-income areas.
NFT is essentially a unique project that can be verified on the blockchain. They can be as simple as the unique digital art, such as boredapeyachtclubnft, but they can also give the owner interesting privileges, such as access to on-site activities. Their immutability and ownership on the blockchain make them more rare than in the real world.
Encrypted assets
The Boredapeyachtclub series is the favorite of the rich and famous, and participants need to spend a lot of Ethereum.
By casting unique certificates on the blockchain, one kind of encrypted asset can be distinguished from another, just as the real Apple can be distinguished from the manufacturer's cheap counterfeit products. With NFT, even if ownership is transferred thousands of times, it is easy to record and maintain verification. The purpose and application of this certification should be obvious to counterfeit brands.
It has a greater impact on the types of artists and creativity. In fact, the innovation of heterogeneous certificates may lead to some renaissance, because they can now effectively monetize their content. Major players in the video game industry also plan to use NFT and other encrypted assets. Microsoft announced its plan to acquire the game giant Activision Blizzard. There is no doubt that NFT and the metauniverse will rise in the foreseeable future.
Is this the era of Web3FOMO?
Web3 is changing the way users interact online, from our investment and value exchange to the games we play, to our artistic and creative expression on social media, or anything that happens next. We witnessed encryption to ensure the implementation of mainstream awareness and industrial operations, which provides responsibility for the Internet.
More and more users and institutions in the world are seeking the trust of Web3, unable to change and verify financial protocols; However, most people still do not know what blockchain is. Because we know that we are still in Web3, this should be encouraging, but on the other hand, most people do not need to fully understand it, and we do not need it.
Just like the basic technology of Web1 and Web2, the next generation of digital field will hide most of the complexity under the amazing and intuitive interface. Although Web3 is still in its initial stage, history may only review this period, because mankind has reached the important threshold of globalization and discovered a fair and transparent financial market for the first time.
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