Web3

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 Web3

Web3, as it is most widely used today, refers to another idea for the "next level" evolution of the internet, but one which is tied to concepts involving decentralization, blockchain technology, and cryptocurrencies. This is confusing because another group of ideas exists, which is labeled "web 3.0", proposed by Tim Berners-Lee – the man often referred to as the father of the World Wide Web. As with the term "metaverse," both web3 and web 3.0 refer to what the internet may evolve into. And although the ideas are somewhat related and not necessarily mutually exclusive, they each describe different things! Confused? Don’t worry, so is everyone else!

Specifically, though, web3 looks forward to an internet where power and ownership aren't centralized in large corporations that ultimately own the servers where data is stored, and software programs are executed. For example, many believe that large social network companies like Facebook and Twitter hold too much sway over public debate as, ultimately, they get to control who does or doesn’t have a voice. A decentralized web3 social network would, in theory, be controlled by its users and operate as a true democracy, with no Mark Zuckerberg or Elon Musk figure with the capability to cut off anyone who they didn’t think should have a platform.

A metaverse-oriented internet could be run on web3 principles – decentralized - but wouldn’t necessarily have to be. Likewise, a web3 internet could be organized as a metaverse (with immersion and avatars as key features) but, again, wouldn't have to be. Hence the ideas are compatible visions for what the internet could become but are not necessarily related.

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