Web3 basics

Hey, Puff fam, I do not want to bore you like most professors - except Arch Dragón Jordi and Dragon Prime Goo Goo Ga Ga, of course. Let me quickly walk you through the basics of Web 3.0:

Web3 is the next generation of the internet, i.e., the extended version of Web2. Web2 refers to the internet we use daily, including applications like Instagram, Google, and Pinterest. While Web2 theoretically “works” and helps us communicate across borders and language barriers, there’s a trade-off.

Basics of Web3

Web2 is driven by large corporations, and their servers store and process your data. These corporations can edit, censor, or even sell your data to the highest bidder. Additionally, centralized servers are commonly a central point of failure, which often causes hacks and downtime. Web3 decentralizes this access through Blockchain technology. At its core, it’s a network of computers that stores and verifies data and transactions on the network. No single entity can control or manipulate your data so long as decentralization is a core factor, which means you’re in control.

Now, let’s understand some quick basics before I discuss how you can benefit from these technologies.