We just penetrated the epoch of web3. And that evolved from various versions of the web. It started with web1, led by web2. That is not it; web3, again, is also led by web4. Hopefully, we can also see more in the future. Now, these aren’t the nomenclature of the web. These differ in certain ways. So here, we will break down these terms and go through web2 vs web3 to understand the evolution of the web and its practical implementations that we are overcoming every day.
Although with web3, there are many trial-and-error methods applied by the business sector. It is seen that there are a lot of possibilities for its utilization. The worldwide web 3.0 industry is forecasted to surpass USD 81.5 billion USD in 2030 and report a remuneration CAGR of 43.7% during the projection period.
Some of the key factors why web3 is preferred are its clarity and data protection, improving translation with the non-fungible token payments, and many more such compelling reasons. Yet a lot to explore on that, too, considering its best features and disadvantages and businesses which can prioritize factors that advantages the business.
So, how do we get there?
History of Web
Let’s start from the start.
Web 1 – read-only web
The foremost version of the internet is web1, which has a straightforward purpose for firms instead of operating individual persons. Some of the samples of Web 1 are MySpace, Google, and Yahoo. Web 1.0 was a content delivery network (CDN) that facilitated the audience to regard static information on websites.
Web 2 – read-write web
Then comes the new edition of the web that authorizes users to also deal with the web page. Users can now interact with the web page. It can accumulate, forge and disperse huge portions of data with just a click. And that also brings an abundant website and apps from various industries. Web2 was then started utilized by patrons to assemble and transmit content anywhere in any corner of the globe.
Web 3 – read- write-execute web
Then comes the epoch that we are yet presently exploring – the web3 age. This is a more advanced rendition of the web, obviously, continuing to implement the characteristics of the web2. The major transition of web3 is that participants will now own their data and have comprehensive sovereignty over operating the internet. It has been utilized in the fields like Artificial Intelligence, Blockchain, and Semantic web.
Probing Web2 Vs Web3: Fundamental and Practical Distinctions to Comprehend
Web 2.0 and Web 3.0 are affiliated technology stacks with comparable sources, but they handle tribulations distinctly. Breaking down the discrepancies of web2 vs web3.
Ownership of the content
Web3 transfers the data to various nodes so as to maintain the anonymity and protection of data on the web. Whereas in web2, there is actually a struggle to take over the data storage, a challenge to access it and maintain the privacy of the identity.
Currency Difference
Payments in web2 are done with fiat money. However, in web3, cryptocurrencies are responsible to fund the payments, which entirely works differently than the conventional methods. It also does not have much regulation of its values.
Transparency
Web3, a major purpose of its existence, is to giveaway transparency to the patrons by disseminating ward of information to them. For example, in blockchain, the entries created for the payments are immutable.
Operations
In web2, the operations demand time and dedicated efforts to streamline business operations. Whereas in web3, a smart contract is utilized that allows the transaction ledger availability to everyone involved giving real-time updates.
Speed
Since web3 disperses the privilege amongst the various contributors of the blockchain, it takes more processing time than web2, where HTTP uses only one web address to search for the queries.
Summing up the web2 vs web3 comparison in tabular form.
| Factors | Web2 | Web3 |
|---|---|---|
| Image |  |
 |
| Content Ownership | Information generation, forging access, anonymity, and security. | Moving info to various spots simultaneously. |
| Pace | Swift | Slower |
| Software | JavaScript, HTML, CSS, Ajax | Semantic Web, Blockchain, Deep learning, machine learning, |
| Currency | Fiat Money | Cryptocurrency |
| Application | Blogging, social bookmarking, Podcasts | Virtual World, decentralized applications, 3D portal, |
| About Server | Servers for gig-economy apps crash and harm worker earnings | Web3 servers can’t crash- they operate on Ethereum, a decentralized network of 1000s of computers, as their backend |
| Social Media Usage | Social media can censor accounts. | There can be no form of censoring due to decentralization. |
| Control Over Web | The Network has authority over data. | Users have authority over data. |
| Transparency | Enhanced | Fragile |
| Volatility | Steady | Volatile |
| Innovation | Determinate Innovation | Potential For Innovation |
Web2 Vs Web3: Which One is Better for Business
Well, it is not about exactly which one is better; it is more about the preferences a business has over another, considering the factors. It gives the primary advantage of utilizing a decentralized structure. Its influence on the company is susceptibility and transparency in the customer’s orientation. So that will allow the firms to modify the customer’s data. It also refines government operations. However, due to the scale of the shift, it will almost unquestionably be criticized.
We already see what web2 is offering to businesses. As we see websites, apps, and web apps. Some of the major concessions a business can seek from Web3 are:
- Elimination of third parties
- Improved restrictions
- More responsibility
- Enhanced relations with customers
- Enhanced supply chain management
Limitations of Web3
For the business, knowing about the concessions of web3 is as necessary as it is important to know the limitations. That way making the decision about their adoption of the web3 becomes more precise and sets the priority.
- As in the comparison table mentioned above, it causes a slower speed for transactions, and that is due to it being decentralized. Payment needs to be processed by a node and multiplied all over the web.
- The user interface in web3 might increase the tasks of learning about it, its software, and its implementation.
- Yet, this is not integrated into the browsers that users currently use, so there comes inaccessibility.
- Yet, tech associated with web3, like blockchain, is not yet widespread and adopted as it is expensive.
A Glimpse of the Future: Upcoming Era of Web4
When we already have many things to know regarding web3, there is already murmuring regarding web4. The promises are yielded of web4 being more user-friendly and interactive in comparison with its ancestors. It is here to uncomplicate the web pages to navigate and comprehend integrating attributes to authorize users to deal with each other and with the data on the page.
Most of it we already have, but this time it will be accessible to everyone equally. That includes individuals who normally cannot use the web for information, like the ones who have some sort of disability. Some of the models of web4 are Brain-Computer Interfaces, Metaverse, Artificial Intelligence, etc.
Key Takeaways
As we have explored the evolution of the web, uncovering web2 vs web3, we get to know there is yet huge potential in web3 that a business can leverage for its next big project, enhancing its user’s experiences and improving operation within the firm. Moreover, with this innovation, we are all set for the big leap in the new future that would be effective and effective utilization of the web3. Also, not forgetting the emergence of web4 and the wonders it can lead a business and its users.
If you are looking to take a step towards the web3 version of your business idea, here we, Elluminati Inc, have a brilliant team to hire web3 developers who can help you get the solution to propel you in the emerging industry.
