Understanding the Key Differences Between Web2 and Web3

The internet, like any living entity, constantly evolves. We've witnessed this evolution in two major phases: Web1 and Web2. Today, we stand at the cusp of a potentially revolutionary shift with the emergence of Web3 development . But what are the key differences between these iterations of the web, and why is understanding them so important? Defining Web2 and Web3 Web2 , also known as the social web, is the current iteration of the internet. It's characterized by centralized platforms like Facebook, Google, and Amazon that dominate online experiences. These platforms facilitate user-generated content, social interaction, and information sharing, but with a crucial caveat: they control the data . Web3 , often referred to as the decentralized web , seeks to fundamentally change this dynamic. By leveraging blockchain technology and distributed ledger systems , Web3 aims to create a more user-centric internet where individuals own and control their data. Importance of Underst...