Why Web3?

As far as I remember, I've always been interested in new technology; even if short lived, I still get that sudden burst of curiosity and delving deeper into the topic. Been interested in the cryptocurrency space for years as far back as 2018, which is how I got introduced to Solidity and at the time there were very few tutorials about them compared to now. And like most of my interests, the curiosity was very short lived and was never revisited.

Fast forward to last year, at the time where NFTs and Web3 gained a new buzz and was constantly talked about, I had my curiosity Rekindled so I decided to hop back on it. Started off with Solidity and understood a few concepts, but that was my first mistake. While its okay to start off with Solidity, I would not recommend it especially for a beginner. Starting off with Basic programming languages like JavaScript, ReactJs and NextJs and knowledge of the Blockchain makes it easier to implement the Smart Contract to the Frontend.

Solidity is a high level object oriented programming language, with syntax similar to C++, Python and JavaScript. Invented in 2014 by Gavin Wood, it is a language for implementing Smart Contracts, commonly associated with Ethereum and other Layer 2 Blockchains (will be explained in later articles).

Use Cases for Solidity are Decentralized Applications (DApps), Decentralized Finance (DeFi), Trading Digital Assets like NFTs and Tokens.

Progression Of The Web

Web 1.0

This was the first instance of the web, which started off at the early 90s to the early '00s. This version of the web can be regarded as Read-Only, as clients and end users can only read information and content from a static HTML page with no form of interactivity.

Examples of Web 1.0 include Yahoo, Internet Explorer, Myspace and so on

Web 2.0

This was a big upgrade from the static HTML pages without a database, as it addresses the issue of interactivity. Web 2.0 includes Reading, Writing and Interactions between other end users.

This is the version of the web we all know and consume on a daily basis which started off the era of smartphones and this allows the consumer to become creators of a wide variety of content.

The issue with Web 2.0 is the lack of security and data privacy which has been a constant issue for the past years, especially regarding the big names in the space. In Web 2, you are the product and these companies profit off selling your data for ads. You also do not have full control of your data or how it is stored.

These security breaches can have a lot of negative impact in cases like identity theft, Doxing, personal attacks, etc.

These centralized systems, Banks inclusive are susceptible to Government control and intervention, especially at targeted individuals or a whole country.

Web 3 looks to solve these shortcomings and setbacks by reforming how we interact with these applications and provides better solutions.

Web 3.0 (Third time's the charm, I hope)

At the core of Web3, the word "Decentralization" remains constant, which is mainly what we aim to achieve. Restructuring the internet with characteristics, such as:

• 'Open'
• 'Trustless'
• 'Permissionless'
• 'Self- Governing'
• 'Robust'

Web3 applications being built either run on blockchains, decentralized networks of many peer to peer nodes (servers), leaves little to no opening for complete control by a central governing body. These applications are usually referred to as Decentralized Applications, DApps. In Web 3.0 you own and control your own content

Cryptocurrencies play a very important role in this version of the web by providing financial incentives; also known as Tokens, for anyone who wishes to participate in the governing, contribution or improving on projects.

Identity in Web 3.0

The issue of privacy and identity theft in Web 2.0 in Web3.0 is addressed by use of digital wallets such as Metamask, which will be used in interacting and logging into these DApps. Users can use the same wallet across multiple DApps and even customize their Wallets and Public Key using customizable sites like ENS Domains. This is why you see a rise in name trends ending with .eth or .tez, this allows users customize their wallets making it easier to build reputation on the blockchain. Its is always important to never disclose your private key and Secret Phrase as it could lead to a complete loss of funds

Possible Drawbacks

Like every new technology, there will always be issues that need addressing and fixing. There has been a rise in crypto scams of different scales and severity. Early adoption will run into a lot of issues like difficulty in development and implementation especially with end users and consumers.

Most consumers curious about this technology and hearing words like NFTs, Tokens and Blockchain ad nauseam tend to give up after getting hit with unfamiliar words and technology, so they tend to withdraw from learning even further. Furthermore, whilst still in its incubation stage, Web 3.0 is still very chaotic for those trying to lean into it; even developers, especially with so much going on in this space.

With the aim of being decentralized, most part of this technology is still being controlled by silicon valley insiders and capitalists, which means these applications can be closed down at any point.

Conclusion

There are still a lot of issues and possible improvements to be made on this technology in order to make it consumer-friendly and adaptable for those with zero knowledge. These drawbacks are good in order to identify issues with this technology and how to improve on them

Thank you for reading thus far.

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