Evolution of Internet: From Web1 to Web3

The evolution of the internet can be segmented into three distinct phases: Web1, Web2, and Web3. Each phase represents a seismic shift in how the internet is used and the types of services it offers.

Web1: Known as the 'readable' phase of the internet, Web1 marked the beginning of the digital revolution. This period from the 1990s to the early 2000s was characterized by static websites containing text and images. Interaction and content creation were limited – the web was more like a digital library with information flowing in one direction from creators to users.

Web2: The advent of Web2 ushered in an era of social interactivity and user-generated content. Platforms like Facebook, Twitter, YouTube, and many others facilitated peer-to-peer interaction, creating a participatory layer of the internet. However, these platforms, acting as intermediaries, exerted control over user data, leading to the rise of the 'data economy'.

Web3: We now stand at the cusp of a new era - Web3, often called the 'semantic web' or the 'decentralized web'. Powered by blockchain technology and cryptographic principles, Web3 aims to create a peer-to-peer internet, where users own and control their data. This phase is characterized by decentralized applications (dApps), which function without a central authority, and technologies like NFTs and DeFi. Web3 represents a shift towards an open, trustless, and permissionless internet, marking the dawn of internet decentralization.