- Web3 is the next generation of the internet and will exist on the blockchain.
- It will be decentralized, meaning it won’t be controlled entities like Facebook or Google.
- Twitter, GameStop, Reddit, and VC firm a16z are all putting resources into building Web3.
In the next era of the internet, you won’t have a social account for each platform.
Instead, you’ll have a single social account, able to move with it from Facebook and Twitter, to Google, shopping websites, and more.
Your moves may be cataloged on the same digital backbone that supports cryptocurrencies like bitcoin — blockchain — instead of massive corporate servers like Amazon Web Services. And this new iteration of the internet won’t be controlled by a central power, meaning no single entity will govern it as Facebook, Google, and others govern their own empires.
Welcome to Web3, the successor to Web2 — which is what we’re in now, where tech giants hold the majority control of the market. Web1 spawned Web2 when we went from merely reading information on web pages to a more social internet.
Like so many other ponderings about the internet’s evolution, Web3 is still merely a thought, or perhaps even vaporware, a name for…
