What are the Differences Between Web2 and Web3?

The Never-ending Debate on Which is Better: Web2 or Web3?

The ongoing Web2 vs. Web3 debate is at the peak of interest amongst technology experts, web users and developers. Web2 is the current version of the internet that we all use daily, while Web3 is the upgraded version that is currently being developed and brings drastic changes.

Over the past 20 years, Web2 has grown rapidly because of its experience, ease of use and life-changing opportunities. However, people become more and more aware of its centralized nature where central authorities control the internet and use our personal data for moneymaking purposes. On the other hand, Web3 aims to move toward a culture in which people own their digital assets and power is distributed between them. The core of Web3 is blockchain technology which offers decentralization, a new level of ownership rights, transparency, security and privacy above all else, even though new technologies like artificial intelligence have a big impact on its features and performance.

In this article we will examine the key differences between Web2 and Web3, beginning with an overview of the internet's history, comparing the two most recent versions, and concluding with thoughts on how Web3 can enhance our online interactions. 

Web1 is Where it All Started

When the internet first started, it was called Web 1.0 which was a decentralized, static, and one-way communication platform. During the time of the earliest HTML websites, users were just viewers who passively absorbed information. It was similar to exploring books in a library while unable to interact with people in real-time or create something digital of your own.

What is Web2?

The current version of the World Wide Web (WWW), commonly referred to as the “web,” is Web2, the second Internet generation that came after Web1. It added more dynamic elements and interactivity made everything "clickable" by enabling users to create, share, and communicate online on numerous dynamic websites, search engines, social media platforms and online stores.

Web2's rich, interactive content completely changed the Internet. The user-generated content that people upload to social media sites like Facebook, YouTube, Instagram, and others is another characteristic of Web2 in addition to increased user interaction. Even though these social media platforms have drastically transformed our lives in ways that were unthinkable just 20 years ago, Web2 clearly has privacy and security issues. Large tech firms, such as Google and Meta, literally own all the rights to internet data.

With Meta, Google, and a few other large tech companies serving as central authorities, many people find this uncomfortable and it led to lawful requests from both governments and citizens and it has sparked a movement toward a decentralized web. 

Advantages of Web2

Dynamic Content & Interactiveness: Web2 consists of webpages with clickable forms, buttons, and links that let users choose what to do and act on it with a single click. Additionally, you can develop apps with interactive features.

Communication: It brought social media comment sections, live chats, online forums, like and react buttons, and other features that made it possible to interact with people anywhere in the world via the internet.

User-generated content: On Web2, users can use web browsers to search for content as well as create and share content on video, blog, and vlog websites.

Information Sharing: Knowledge and information can be easily shared through social media and self-publishing platforms.

Easy to Use: Without technical knowledge, you can exchange and update data, make purchases, and book services with a few clicks.

Disadvantages of Web2

Security: Because Web2 depends on centralized servers and systems for data storage, a high user demand may cause servers to overload. Large volumes of user data can be accessed by hackers with just one system breach, which makes centralized servers a security risk. Governments and businesses can also more easily keep an eye on user behavior thanks to centralization.

Data Ownership: It is controlled by a few large corporations that gather user data and use it for financial gain. You must create a user profile and provide login credentials through email registration in order to use an online platform. Your entire data set is stored on the website owner's servers. Together with the fact that cookies and tracking pixels are used to track user activity online, it means that user data is in the hands of the companies, raising privacy concerns.

Censorship: Governments and corporations restrict, censor, or block specific information for their own gain or to control harmful and dangerous content. They can monitor user behavior, impose policies, and block particular websites or users within them. We should really question ourselves - do we have the right to free speech?

What is Web3?

Web3, sometimes referred to as the semantic web or the decentralized web, is a potential evolution of the World Wide Web built on decentralized networks. Web3 promises to bring not only decentralization and privacy but also a data-driven user interface that offers each user a personalized experience.

Since Web3 is centered on blockchain, many users find it very appealing because decentralized applications remove the need for a central authority and grant users total control and ownership over their data. In contrast to Web2, it does not process and store data on centralized servers. To provide a more private, transparent, and safe internet, it makes use of the distributed ledgers of blockchain via a decentralized network. 

It's like walking into a thriving, self-governing community where everyone can participate in group decision-making and have their voice heard. Additionally, Web3 places a strong emphasis on ownership and identity, giving users access to an environment where they can purchase, sell, and own both digital and physical assets. They also have the freedom to decide who they disclose personal information to and how. It is already being rapidly adopted and is drastically changing our ability to access data, carry out transactions, own assets and have more control over how the Internet functions. Web2 and Web3 differ greatly as one fosters a decentralized nature while the other has centralized entities with almost complete control.

Advantages of Web3

Decentralized: Users have more control over their data on Web3, and businesses need to pay to access it since no big entity can control data and applications.

Transparency & Security: Web3's decentralization concept eliminates the middleman, increasing internet transparency. Additionally, decentralized blockhain data storage offers higher security.

User Empowerment: Web3 gives control of data ownership to the users. There are no limitations on inter-platform communication in the absence of a single authority.

New Forms of Transactions: Smart contracts are used for decentralized applications, platforms, and cryptocurrency exchanges that don't require an intermediary.

Disadvantages of Web3

Complexity: Web3 presents a complex user experience as well as technical challenges. As such, widespread adoption is not yet possible. Web3 is difficult for beginners to understand because it requires a higher level of tech skills and some financial knowledge.

Computational Resources: More computer power is needed for Web3 to operate and it does not work on some older devices.

Scalability: Large transaction volumes are difficult for decentralized networks to handle, which causes network capacity issues and slowdowns.

Regulatory and Legal Issues: Enforcing legal and regulatory frameworks on blockchain networks is difficult, which could encourage money laundering, fraud, and other illegal conduct.

The Future of the Internet

Web3 may be the future of the internet, based on the direction it is currently taking. It has a great deal of potential to support decentralization and provide a more user-focused experience. But before we begin using Web3 widely, there are still several issues that need to be resolved, including operational complexity, user experience, security, and regulation.