DZone Posted August 17, 2022 Share Posted August 17, 2022 Web3 is a hypothetical version of the next generation of the internet, evolving from the read-only web (Web1: 1993-2004) and the centralized web (Web2: 2004-2022) to the recent decentralized web (Web3: 2022). This transformation has significantly altered the way the internet functions and the web services we use. The traditional internet followed a client-server architecture where a central server served the requests of one or more clients, holding all the data with minimal control given to the client. However, Web3 emphasizes a move towards a decentralized ecosystem, utilizing technologies like Blockchain to create a more secure and transparent web. Blockchain technology, with its transparent tracking and immutable security of data over transactions, plays a crucial role in Web3. It utilizes a digital ledger that stores transactions across distributed computers in a peer-to-peer network, forming tamper-proof and secure chains of blocks. For instance, in a decentralized financial system, Blockchain enables financial transactions over a peer-to-peer network without relying on a traditional bank, ensuring security and transparency.View the full article Quote Link to comment Share on other sites More sharing options...
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