Will Web3 Replace Web2? Answers From IT Masterminds

The Internet is undergoing a transition from Web2 to Web3, but what does that mean? Will Web3 replace Web2? Here is your critical answer.

Web3 is not merely on the horizon; it is already here and poised to influence the digital landscape over the next two decades and beyond. But what’s a great deal, and what’s so wrong with Web 2.0 as it has always existed?

Well, nothing in particular, and the transition to Web3 is more of an evolution than a revolution. It’s because technology providers and corporations determine the most effective means of maximizing its potential. So, the question is, will Web3 replace Web2?

I. What is Web2?

Web2 is the current iteration of the world wide web, commonly referred to as the “web”. It emphasizes static websites, search engines, social media platforms, and eCommerce websites. 

Web2 is the second iteration of the internet, succeeding Web1’s non-interactive, read-only web. Web2 introduced a greater degree of interactivity and dynamic elements, making everything “clickable.”. It facilitated online content creation, sharing, and communication.

II. Problems of Web2: 4 aspects 

1. Monopoly 

Recently, any kind of service we are using on the internet or on the web are owned and controlled by big corporations and organizations. It can be emails, your favorite streaming site, social apps, or new channels. It can be seen that monopolies are bad  since they prevent diversities and even force people to follow the rules. The monopoly feature of the web means that companies and states, not individuals control the web. 

2. Censorship 

Any kind of content we write on the websites technically under the control of those companies. They can be videos on Youtube, images on Instagram, and your tweet on Twitter, and content on platforms you use. 

Besides, your personal information and data can also be commercialized. Companies or large corporations store information based on your name, age, location and devices, and more. Content you create is considered as advertisement tailored to the shopping behaviors, and sway opinions. 

Additionally, you can only utilize services that you are allowed to. Instead of search engine results, you can only use what advertisers pay for or what content is paid to show you. 

3. Security 

Firms store personal information or data. This is a big data security threat since criminals need to hack a company to access lots of personal information. 

Besides, centralized data storage is also costly. Gartner found that companies spent $172 billion on cyber security in 2022. Data is valuable so it requires attempts to steal them. In recent years, there have been lots of situations where companies get hacked successfully, accessing thousands of customers to define theft. 

4. Misinformation 

The website hosts many sources of misinformation. The information is manipulated by companies, users, and organizations to impact on users, so the web makes misleading information. Recently, this is the rise of unsubstantiated things on the website related to all kinds of public issues like Covid-19, climate changes, immigration and more. Thus, now there is a fact-checking department to confirm the correctness of information. 

III. What is Web3?

Web3 is the next iteration of the internet, an enhanced version of the world wide web. It is known as the “semantic Web” or “decentralized Web” due to its reliance on decentralized technologies such as blockchain and peer-to-peer networks. A decentralized architecture enables participants to directly access and share resources without the need for a central authority.

Also read: Advantages and Disadvantages of Web 3.0: Detailed Explanation

IV. Differences between Web3 vs Web2

1. Security and Privacy

Web2 and Web3 both offer security features, but their implementations vary.

Web2 stores data on centralized servers that are susceptible to cyberattacks and other malicious actions.

On the other hand, Web3 uses distributed ledger technology (DLT), such as blockchain, to store data across a decentralized network of computers in a secure manner.

Web3’s distributed ledger technology (DLT) makes it more difficult for intruders to access sensitive data. It’s because all transactions must be confirmed by multiple nodes before being added to the register.

In addition, Web3’s privacy-focused protocols, such as zero-knowledge proofs, give users greater control over their personal data, allowing them to remain anonymous while interacting with others online.

2. Data Storage

How these two web technologies store data is another essential distinction.

In Web2, most user information is kept on centralized computers that are owned by companies like Google or Amazon. These companies have full control over this information and can use it for marketing without the user’s permission.

Web3 gives a safer and more independent way to store data through DLT. Instead of relying on third-party storage solutions, users can control their digital assets by using cryptographic keys.

This gives users greater control over their digital property and ensures that no one else can access it unless granted permission by the owner.

3. Integration

Web3 offers superior interoperability capabilities through open-source protocols such as Ethereum, enabling developers to create apps that can function on any device.

By utilizing these protocols, users can easily exchange resources and data across platforms, regardless of language barriers or differences in software architecture/protocols utilized by each system.

Web3 is the future because of its enhanced security, data storage solutions, interoperability capabilities, and user experiences in comparison to Web2.

Due to these advantages over web2 technologies, it is essential to comprehend why we should transition to using web3 in our daily lives.

V. 5 reasons proved Web3 development surpasses Web2

1. More democratic possession of content

People are so accustomed to service providers and platforms governing how content is created and distributed (or not) that rarely consider how creatively and monetarily restrictive such an environment is. Web3 eliminates these barriers by enabling secure and transparent content and data sharing across services, people, and locations.

2. Security through transparency

If you observe or read the news, you are aware that user data breaches within large corporations and well-known brands are practically endemic. There seems to be a new hacking scandal every week, requiring us to change our credentials for the tenth time in as many months. 

Web3 and the blockchains that power it are inherently more secure and significantly less vulnerable to hacking. Even if someone does succeed in doing something they shouldn’t, the incident will be recorded for all to see. Web3 provides nearly total transparency.

3. Ubiquity and connectivity

Web3 is everywhere. Because multiple devices and apps can access data, end-users should be able to view their content from anywhere. Enhanced connectivity provides consumers with an exponentially superior user experience.

4. New levels of privacy

In the Web3 world, users have complete control over their data and how they grant access to it to the services they use, as opposed to having it discreetly mined for targeted advertising and profiling. As part of a healthy digital relationship, this actually benefits brands by eliminating any ambiguity over whether a user has “opted in” or not, and it encourages greater engagement from both parties.

5. Currency

Web2 is fueled by transactions in so-called fiat currency, such as dollars, pounds, euros, and yen. What do all of these currencies share? All of them are governed centrally by nation-states or supranational organizations such as the EU. In Web3, cryptocurrencies such as Bitcoin and Ethereum reign supreme, creating thrilling commercial opportunities for brands and consumers alike.

VI. What future holds for Web3 technologies?

The future holds promise.

Currently, the greatest Web3 applications have fewer than 500,000 daily active users.

This is negligible in comparison to Web2 platforms.

There will be many years or decades of widespread adoption and utilization of cryptocurrencies.

For the time being, most Web2 initiatives will adopt some Web3 philosophies, resulting in many Web2 iterations and not necessarily a leap to Web3.

VII. FAQs

1. Why is Web3 superior to Web2?

Through its decentralized architecture, which enables more efficient data processing and smart contracts and provides a secure platform without the need for third-party intermediaries, Web3 provides its users with enhanced security, privacy, and scalability to facilitate faster transactions.

The decentralized nature of cryptocurrencies allows for quicker transactions and more efficient data processing.

Smart contracts offer a trustworthy system for digital agreements between parties without the need for third-party mediators.

In addition, the use of blockchain technology ensures that all transactions are immutable and can be audited, providing transparency and trust across systems.

All of these features make Web3 considerably more efficient and user-friendly than Web2.

2. What key distinction exists between Web2 and Web3?

Web2 is the conventional web platform, which is primarily centralized and controlled by a small number of large technology corporations. Web3 is an emerging decentralized web platform that employs blockchain technology to construct trustless data storage and peer-to-peer communication systems.

Web3 facilitates direct user interaction without the need for intermediaries by leveraging blockchain technology, thereby augmenting data security, privacy, and autonomy.

In addition, it enables developers to create apps that are more resistant to malicious assault than those created with Web2 technologies.

3. Can Web3 replace Web2 fully?

No, Web3 cannot replace Web2 entirely. Web3 offers various advantages, including blockchain and other features, but it is still in its infancy and has not been fully developed or implemented. 

Moreover, certain aspects of Web2, such as search engine optimization, will continue to be essential for websites seeking to maximize their internet visibility.

Thus, it is unlikely that Web2 will ever be completely supplanted by Web3 technology, despite the possibility that some aspects of Web2 will be replaced over time.

Final thought

As a premier software development company in Vietnam, Adamo Software always updates the most modern technology to never be outdated in today’s ever-changing digital world. Adamo Software’s team of seasoned experts will assist your business in gaining access to the newest concepts in decentralization, blockchain technologies, and token-based economics.