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What is Web 3.0?

2023.08.18 MEXC

In 2014, Dr. Gavin Wood introduced a revolutionary concept: Web 3.0. His vision was that Web 3.0 should represent a movement and set of protocols aimed at making the internet more decentralized, verifiable, and secure. The Web 3.0 concept involves realizing a serverless, decentralized internet, where users have control over their own identity, data, and destiny. Web 3.0 is poised to initiate a new global digital economy, create new business models and markets, break platform monopolies, and drive widespread, bottom-up innovation.

1. From Web 1.0 to Web 3.0

We won't delve into the detailed origins and developmental history of the internet, as the results of its emergence are palpable in the era we are currently experiencing.

The era of Web 1.0 can be understood as the electronic version of traditional media. Websites provided information, and users passively received information. This period was characterized by portal websites, such as Yahoo and Sina. Due to limitations in internet speed, live streaming mostly relied on text-based broadcasting.

During the Web 2.0 era, advancements in technology and hardware transformed information dissemination from a previously limited audience to a universal one. The channels of communication evolved from mere web pages to various content platforms, offering a diverse array of formats including images, text, videos, and live streaming. Users gained the ability to contribute to content creation themselves. The relationship between users and the internet shifted from passive reception to interactive engagement, allowing for two-way interactions.

We are currently in the era of Web 2.0, where the internet has brought immense convenience but also challenges. We experience issues like information overload, channel saturation, short attention spans, and an inability to meet our value needs. Additionally, as personal information becomes increasingly controlled by major internet companies, new problems such as data misuse and the lack of ownership of personal data have emerged, demanding urgent solutions.

The emergence of Web 3.0 aims to address these issues and lead us to a more efficient, fair, trustworthy, and value-driven internet world. In this context, digital identities, assets, and data return to individuals and become more decentralized. The model revolves around user creation, user ownership, user control, and distribution. Web 3.0 is also referred to as the Decentralized Value Internet.

2. Characteristics of Web 3.0

2.1 Trustless: Built on blockchain technology, decentralization forms the technical foundation for achieving trustlessness. Users only need to trust what they can independently verify, rather than relying on centralized third-party institutions.

2.2 Data Ownership: With blockchain-based data ownership and control mechanisms, it will revolutionize the current situation where personal data is collected and potentially misused by dominant internet companies. Users will have ownership and usage rights over their own data, leading to effective protection of personal privacy.

2.3 Unified Identity, breaking down data islands: With each new platform you use, you're required to create new accounts and passwords. Apart from remembering these credentials, data between platforms doesn't interoperate. In the Web 3.0 era, you'll possess a unified identity that can be used across various decentralized applications (DApps). All the data you generate will be tied to your unified identity, providing seamless access across platforms.

2.4 Monopoly Disruption: In the Web 2.0 era, internet giants formed their own ecosystems, with core internet companies "ruling" these ecosystems and monopolizing data, value, and network effects. In the Web 3.0 ecosystem, prosperity is built collectively by all applications within it. The more diverse the range of applications available for users, the higher the level of prosperity within this ecosystem.

3. Advantages and Disadvantages of Web 3.0


Web 3.0 will bring about a transparent and trustworthy internet economic model.

In the world of Web 3.0, the data generated belongs to the users. Consumers do not have the right to use the data without authorization and confirmation from the producers. At the same time, content owners can also benefit from the high-quality content they create. To some extent, users are both consumers and maintainers of the ecosystem.

In Web 3.0, users have full ownership of all the content they create.

In the traditional internet landscape, users as content creators often do not enjoy corresponding benefits. For example, an article posted by a user on Twitter might be deleted due to a decision by Twitter itself. In the world of Web 3.0, these issues are addressed. Changes to products and games would require community voting, and developers would no longer have unilateral decision-making power.


Currently, Web 3.0 still faces challenges such as congestion on blockchain networks leading to inefficiencies, high network fees passed on to regular users, and vulnerabilities in smart contracts being exploited by hackers for attacks. Due to its inherent complexity, Web 3.0 presents a learning curve, and new users require time to become proficient, making its adoption more difficult.

4. Conclusion

The emergence of Web 3.0 provides us with a more secure, efficient, and liberated internet model, offering the potential to protect user privacy and security. Although achieving the full realization of Web 3.0 requires significant progress, with the continued advancement of blockchain technology, we can anticipate a safer and more engaging internet environment in the future.

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