# Web3- The Future Still In Progress

It is quite understandable that most individuals haven’t been able to grasp the services and benefits web3 renders. There have been many debates on the possibility of decentralized internet making it or not, and establishing it’s stay just as when the internet first came into the scene in the early 80’s through to the 90’s. obviously it’s going to take a while and more innovation to earn the trust of the general public.

Web3, in the context of Ethereum, refers to decentralized internet/apps that run on the blockchain, and also with the help of decentralized finance (DeFi) and decentralized apps (Dapp) we are able to make digital transactions between multiple parties. These are apps that allow anyone to participate without monetizing their personal data, it is an idea for a new iteration of the World Wide Web based on blockchain technology and decentralized autonomous organizations (DAO), which incorporates concepts such as decentralization and token-based economics. Now, to most people that do not really know how the blockchain works, ‘blockchain’ is a distributed digital ledger that’s used to record transactions. It’s an immutable database, which means that information can’t be tampered with or altered once it’s been recorded. (If there’s an error in an entry, then a new revised entry must be made, and both entries will subsequently be visible on the ledger.) so a blockchain becomes longer as more information is added to it. Each new piece of information is also assigned a timestamp, which makes it easy for users to find out exactly when it was linked to the database.

The transparency and immutability of the blockchain makes it a very reliable and trustworthy business resource both for individuals and for companies.

It would be wise to say Web3 is made to be able to resolve a lot of problems we have currently on the present internet(web2) by changing our data structures and bringing much more control over our private data, providing a governance layer for the internet we are currently lacking, enabling us to have peer-to-peer transactions without a middle man, in addition it could revolutionize money and value creation. Web2 processes data moved from a computer to another using a server, and with this each time we use the internet based services every individual loses ownership and control of their private data day by day to servers as it makes a copy of every transaction.

Please note that the context “web2” simply refers to the version of the internet most of us know today. An internet dominated by companies that provides services in exchange for your personal data and they include; hosted services (Google Maps), Web applications (Google Docs, Flickr), Video sharing sites (YouTube), wikis (Mediawiki), Blogs (WordPress), Social Networking(Facebook), folksonomies (Delicious), Microblogging (Twitter), Podcasting (Podcast Alley) and content hosting services and many more. Although exactly what defines a web3 site services or application is still a subject some debate, it’s generally agreed that it will be decentralized, with infrastructure that is owned by the users and creators. It will also be deeply linked to the real world due to being built on the Internet of Things (IoT) technology and to the concept of immersive, connected environments (aka the “metaverse”)

Metaverse is a term that’s commonly used to describe the next evolutionary stage of the internet. ‘Web3’ is inclusive of blockchain, cryptocurrency, the metaverse and other emergent technologies. Now there are some concept that require clarification, there has been a lot of debates on the similarities between web3 and metaverse, trying to figure out if metaverse is web3 or they’re just intertwined, let’s look at the reasons why it seems so; knowing that metaverse is a digital landscape that participants can use to build their own virtual environment, which is a combination of AR & VR.

However, this digital landscape where normal human activites would take place requires a means of exchanging goods and services, obviously the physical cash wouldn’t be able to play that role, so here comes in the decentralized digital currency (which is a web3). So of course, we can’t generally categorize the metaverse as web3 because it can be owned by a private enterprise or even the government, as we all know “Meta” (formally known as Facebook) plans to use a whopping $10 Billion on its metaverse and it is clear that the sole aim of web3 is achieving decentralization. Although, both the metaverse and web3 are still been built, people are yet to know exactly how they’re going to look like.

Web2 has been a wonder to generations and will still remain relevant for years to come but it’s also now time for users to have the power to make their own decisions and transactions in their own ways without an organization having all the tools and information. This is what web3 offers, a means to which users can fully harness the power of the internet without fear of losing their private data in exchange for services.