October 21, 20212 min read

Explain Like I'm 5 - Web3

Ship 30

Where it all began

The fundamentals of the original web were established decades ago.

Machines across the world serve pages of information that are rendered on your phone or laptop through a browser. This was novel technology for governments, schools, hospitals. Gone were the days of fragile, physical documents.

With an internet-connected device, you have access to a global information network.

Companies built walled gardens

Web2 burst onto the scene in the late 90s.

Companies like Facebook recognized the ability to reach a global user base and built social media platforms. These platforms gave us access to read/write information on the web, with one caveat - your data is locked up and owned by them. Their services are all free to use because they track and sell your data behind the scenes for profit.

These platforms act as a single source of truth - if they go down, so does your data.

Bringing back the decentralized web

The invention of blockchain technology, made popular by Bitcoin, provides modern infrastructure to bring the web back to its roots.

Interacting with a blockchain involves one fundamental principle - each person uses a unique private key to sign & prove ownership of their holdings. Thousands of machines work 24/7 to validate transactions, making this technology hyper-secure. The code behind blockchains is open-sourced, meaning it's verifiable & accessible to anyone.

With Web3 all of this information is completely decentralized and data is owned & controlled by individuals.

The Metaverse is here

Web3, in its primitive form, is being used right now across the web.

Individuals transact on sites through the use of cryptocurrencies instead of government tendered money.

NFTs are a form of data ownership. Holding one grants access to communities and allows for information to be completely portable across social sites, owned entirely by you.

This new infrastructure is still being built and isn't easily accessible to the average internet user, but the future of Web3 is brighter than ever.