{"id":24305,"date":"2022-02-28T13:37:40","date_gmt":"2022-02-28T21:37:40","guid":{"rendered":"https:\/\/presskitchen.com\/?p=24305"},"modified":"2026-01-30T13:14:07","modified_gmt":"2026-01-30T13:14:07","slug":"what-is-web3","status":"publish","type":"post","link":"https:\/\/demo.techsystintel.com\/press_kitchen_dev\/what-is-web3\/","title":{"rendered":"Tackling the Question: What Is \u201cweb3\u201d?"},"content":{"rendered":"

Photo by<\/span> Shubham Dhage<\/span><\/a> on<\/span> Unsplash<\/span><\/a><\/p>\n

By Amanda Drum<\/span><\/p>\n

If you\u2019re still wondering what an NFT is, or how Blockchain is defined, this discussion will either help or hurt your research progress. But to grasp where each fits in a broader ecosystem of new tech, we have to talk about web3. Or Web3. (The jury\u2019s out on many aspects of the term, even whether the \u201cw\u201d is capitalized.)<\/span><\/p>\n

 <\/p>\n

What do you mean there\u2019s a \u201cweb2\u201d?<\/b><\/p>\n

When you google \u201cWhat is web3?\u201d, even the simplest explainers start with jargon that assumes you know what \u201cdecentralized\u201d means. So let\u2019s back up and start with: <\/span>what is<\/span> web2<\/span>?\u00a0<\/span><\/p>\n

Web2 is the Internet as we know it. Web2 describes the modern-day dot-com, where corporations and entities large and small own websites and services and the users of those websites\u2026do a number of things. Including just scrolling them for a distraction.\u00a0<\/span><\/p>\n

This is called <\/span>centralized:<\/b> controlled by one group\/person, in one place. I.e. it has a \u201ccenter\u201d<\/b>. Twitter.com is owned by Twitter the company, not by its 330 million active users. Twitter\u2019s website and web history are stored on its own servers. Twitter is, therefore, \u2018centralized.\u2019<\/span><\/p>\n

 <\/p>\n

\"\"\u201cDecentralized\u201d–i.e., no \u201ccenter\u201d<\/span><\/i>
\n<\/span>Photo by<\/span> Shubham Dhage<\/span><\/a> on<\/span> Unsplash<\/span><\/a><\/p>\n

Web: the trilogy<\/b><\/p>\n

Hypothetically, imagine Twitter.com doesn\u2019t live on servers controlled by Twitter. Picture that, when you log onto Twitter.com, your computer gets a record of the website and its code as it exists now. You, and every other user. All users are now \u201cowners\u201d of Twitter.com, in this sense. These records, called <\/span>ledgers<\/b>, preserve Twitter\u2019s code at any given moment. When someone tweets, everyone\u2019s ledger gets an update.\u00a0<\/span><\/p>\n

This, at least in part, is called <\/span>decentralized<\/b>: <\/span>controlled and shared by all users, with no central figurehead.<\/b> Web3, in theory, would consist entirely of decentralized apps (what webpages would ultimately become).\u00a0\u00a0<\/span><\/p>\n

How does this relate to Blockchain?<\/b><\/p>\n

\u201cWeb3\u201d was coined by Ethereum co-founder Gavin Wood way back in 2014, to describe a “decentralized online ecosystem based on blockchain\u201d.\u00a0<\/span><\/p>\n

Hang on–blockchain? That accursed ephemeral concept few can grasp? It\u2019s not that deep: when we\u2019re talking about web3, your computer, thereby you as a user, is the \u201cblock\u201d. The connection between each computer is the \u201cchain\u201d. <\/span>Ethereum, who is responsible for this concept, breaks down both more thoroughly<\/span><\/a>.<\/span><\/p>\n

Remember when I said every user of the web3 version of Twitter would share a copy of Twitter.com, and thus be one of 330M owners? That can only happen thanks to \u201cblockchain\u201d. Twitter.com now lives on 330M individuals\u2019 computers and counting, and updates to Twitter.com get to every computer via this chain.\u00a0<\/span><\/p>\n

Quick question: why would anyone want to take part in Web3? Do we sign up for this? Are we automatically ledger-owners the second we log into an app? Does this mean extra work for us? Let’s break it down:<\/span><\/p>\n

Pros and Cons<\/b><\/p>\n

Web3 has its pros and cons. As it was theorized as a way to solve security and privacy issues, the biggest pro would be <\/span>security<\/b>. Should someone want to shut down Twitter.com, they can no longer just \u201chack a server\u201d; they would have to hack 330M plus users and ensure <\/span>all<\/span> of their copies of Twitter.com also go down. That\u2019s nigh impossible. Another would be <\/span>anti-censorship<\/b>. No one user could suspend another without that change reflecting in, you guessed it, 330M plus users\u2019 ledgers. While a pro in some cases, this would also work to the benefit of bad actors on Twitter.com. Therein begin the cons. In a truly neutral atmosphere, positive and negative voices both get their internet real-estate, a divisive part of web3 conversations currently.<\/span><\/p>\n

Web3 has additional hurdles as well. Need I say, adoption? I can barely summarize web3 in a blog post. Imagine a blockchain provider like Ethereum trying to get the whole world on board. As well, if every \u201cledger\u201d needs updating for apps to stay current, transactions and changes will be <\/span>slow<\/span>. Web3 can\u2019t exist without blockchain, which has its own contentions: costs, scaling, and its dependency on huge amounts of electricity–a traceable environmental impact–make adoption of either slow-going.<\/span><\/p>\n

Did you get anywhere with this explainer? Rather than focusing on definitively understanding a new and developing technology–much of which is still hypothetical–I suggest you focus on painting the best mental picture that makes sense to you<\/span>. Keep reading up on it. And, for the record, we\u2019re all fans of Twitter.com here.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

  Photo by Shubham Dhage on Unsplash   By Amanda Drum If you\u2019re still wondering what an NFT is, or how Blockchain is defined, this discussion will either help or hurt your research progress. 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