Web2 and Web3 are two different versions of the internet, with significant differences in their characteristics and functionalities.
Web2:
1. Centralized: Web2 is a centralized internet, controlled by a few dominant players like Google, Facebook, Amazon, and so on.
1. User-driven content: The users of Web2 platforms are consumers and creators. The platforms are built to allow users to create and share content with one another.
1. Profit-oriented: Web2 platforms have primarily commercial undertones and operate with the motive of generating profits.
1. Privacy challenges: Web2 platforms are prone to data breaches and privacy scandals, compromising the privacy and security of their users.
1. Limited Interoperability: Web2 applications are largely siloed, which means users are restricted to the resources within the particular application.
Web3:
1. Decentralized: Web3 is a decentralized internet that operates on a peer-to-peer network, distributing control among its users.
1. User-driven ownership: Web3 allows users to own and control their data, thereby, promoting privacy, security, and data autonomy.
1. Value-focused: Web3 platforms are incentivized to serve the needs of their users, which includes offering quality content and creating communities within the platform.
1. Transparency: Because of the decentralized nature of Web3, data are available for anyone to audit, making transparency a fundamental part of the platform.
1. Interoperability: Web3 allows data and applications to be shared across a variety of applications and platforms, promoting synergy and collaboration.
