Author: David Phineas
You may have heard the terms “Web2” and “Web3” used in conversations on the internet, but what do they mean?
From Web1, the first edition of the Internet, which had static texts and images, through Web2, the most recent iteration, technology has advanced quickly.
As the Web3 age begins, value and data will readily migrate across decentralized platforms with dispersed control and ownership.
The difference between these two models is significant, and it is important to understand which one your business is using. If you’re still using Web2, it may be time to switch to Web3.
What are the Differences Between Web2 and Web3?
Despite having comparable technologies and histories, Web2 and Web3 take different approaches to problems. The key difference is that Web2 focuses on reading and creating content, while Web3 focuses on creating content.
The latter is significantly better because it makes use of technology to improve cybersecurity while facilitating information exchange between online users.
Here are some key differences you should know:
- Currency: web2 accepts fiat currency for payments. Transactions involve government-issued currency such as the US dollar. As opposed to Web3, which employs unencrypted digital currencies like Bitcoin or Ethereum – Web3 uses cryptocurrencies.
- Content ownership: With Web 2.0, the network takes over control of data storage, posing access challenges and raising questions about the privacy and security of users. Web 3.0 addresses this issue by enabling simultaneous data interchange across several places.
- Speed: Transfers via Web 2 are more rapid than those over Web 3. With the use of HTTP in distinct web addresses, Web 2 searches for data that is held in a fixed location, typically on a single server. On the other hand, Web3 transfers ownership to countless additional parties (decentralization).
- Technology: the most popular Web2 technologies include JavaScript and AJAX, HTML5, and CSS3. Web3 is powered by machine learning, the semantic web, and decentralized solutions.
The promise and the problem of converting to Web3
The existing internet is severely patchy. It was originally intended to connect people and ideas. However, the information superhighway has turned into a segmented network of walled gardens where access and speech are monitored.
Web3 has the promise to solve or lessen these issues. Distributed storage can offer redundancy, resilience to censorship, and hacker mitigation.
Secure login can be supported by digital IDs. Blockchain can move assets, currencies, and micropayments.
Only two issues remain. Although the case for Web3 may be strong among techies, it is not at all so among mass market consumers. Furthermore, the quirks of Web3 may be too much for an average user to handle, such as the requirement to securely store a 24-word seed phrase in a fashion that is usable by them but impractical for everyone else.
Onboarding the web3 is still a challenging bottleneck because no one has yet figured out how to get this modern Internet standard accepted by the general public.
How to Get Started with Converting to Web3
The first step is to identify the areas of your site that are most in need of an upgrade. This might be the checkout process, or it could be the product pages.
Once you’ve identified these areas, it’s time to start looking for solutions. There are a lot of great options out there, and it’s important to choose a platform that’s going to be scalable and able to grow with your business.
When you’re making your decision, be sure to consider things like your budget, your timeline, and your staff’s technical skill.
There’s no one-size-fits-all answer, so take the time to explore your options and the platform that is right for you.
Conclusion
If you’ve decided that you need to convert your business to Web3, Congratulations! However, making the switch can be daunting, but it’s important to do so if you want to stay competitive in the current market.