Since the rise of the web in the 1990s, the internet has continuously evolved. From a simple repository of information to a platform for connection and shared experiences, the internet has undergone significant changes. The latest development in this evolution is Web3 or Web3.0. As this field gains traction, understanding its workings can help determine if it’s an area worth exploring. So, let’s dive into the world of Web3 together.
What is Web3?
Web3 is a term used to describe the next stage of internet development. Coined in 2014 by Gavin Wood, a co-founder of Ethereum, a blockchain-based software platform, Web3 envisions a decentralized future version of the internet that reduces the influence of current Web 2.0 corporations like Meta, Amazon, and Google.
In Web3, users are intended to have greater control over their data, as opposed to it being monetized by companies. The goal is to create an interactive internet experience that prioritizes personal data ownership and privacy.
How do companies monetize our data in Web 2.0?
Web 2.0 allows companies to collect data about users’ online activities, enabling them to serve personalized ads based on their interests. This monetization strategy relies on selling ads to companies that offer products and services aligned with users’ browsing behavior.
History of the web so far
To understand how Web3 works and why it has the potential to revolutionize online interactions, it’s essential to explore the history of the web. The internet can be divided into two distinct periods: Web 1.0 and Web 2.0.
Web 1.0
Web 1.0 emerged in the early 1990s, characterized by static web pages written in HTML. During this era, the internet functioned as an open and decentralized platform where users could search for information using browsers such as Netscape and Internet Explorer. Web 1.0 introduced platforms like WebMD, which provided medical information, and GeoCities, where users could create web pages within online neighborhoods.
Web 2.0
By the late 1990s and early 2000s, people started seeing the internet as more than a vast encyclopedia. The rise of blogging sites, forums, and wikis provided spaces for sharing information and connecting with others. This marked the emergence of Web 2.0, which gained prominence with the advent of social media platforms. Technology companies leveraged the power of social media, leading to a concentration of power among a small number of companies, such as Meta, Twitter, Google, and Amazon.
Advantages of Web3
Web3 presents several advantages stemming from its decentralized structure, which shifts control from big tech companies to the users. Here are some benefits of a decentralized internet:
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Interaction: Web3 offers users more opportunities to interact with content and other users, resulting in higher engagement compared to Web 2.0 and 1.0 websites and platforms.
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Ownership: In Web3, users are not merely content consumers but also owners of the community. They receive incentives for participation rather than being asked to trade their personal data to access platforms.
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Permissions: All network users have access to the network’s data and permission to use the service.
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Privacy: In Web3, users’ identities are tied to their digital wallets. While their actions are public, they can maintain their identity’s confidentiality.
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Speed: The use of artificial intelligence, machine learning, and smart contracts via blockchain enables the delivery of more relevant data to users in less time.
Disadvantages of Web3
Web3 also presents some challenges that should be considered:
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Cost: Blockchain technology, on which Web3 operates, is expensive and requires significant amounts of energy. This cost is borne by Web3 platforms and applications.
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Hardware: Users may need to invest in newer equipment to fully harness the benefits of Web3 platforms. Older devices may not have sufficient memory or capability.
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Regulation: Decentralization transfers the responsibility of regulating content and user actions to the public. This can create spaces for questionable content and challenges the governance of autonomous organizations.
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Scalability: Blockchain-based peer-to-peer networks require significant computing power for processing transactions. Enhancing scalability is crucial to reducing costs and expanding participation, as the lack of scalability currently leads to centralization by default.
How to get into Web3
To get involved in Web3, you can work for or use applications that operate under Web3 principles. These organizations typically operate in the technology sector and offer services such as networking, facilitating cryptocurrency transactions, and developing software and infrastructure solutions. Examples of Web3 organizations include Helium Systems, Coinbase Global, and Huddle.
1. Research different Web3 careers
Web3 offers a range of job opportunities, covering roles from administrative assistants and community managers to Web3 developers and C-suite positions. Here are some Web3 jobs to consider:
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Beta tester: Providing feedback on new platforms or applications to help identify and address issues before public release.
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Community manager or moderator: Ensuring the smooth functioning of online communities, onboarding new members, monitoring interactions, and resolving issues.
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Cryptocurrency exchange/NFT researcher or analyst: Conducting research on market performance, pricing, and trends in cryptocurrency or non-fungible tokens (NFTs).
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Marketer: Shaping the future of online marketing, focusing on building communities, relationships, and engagement rather than relying on customer data.
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Technical writer: Simplifying complex technical details and helping the public understand Web3 concepts and benefits.
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Web3 developer: Developing various aspects of Web3 platforms, including front-end, back-end, and full-stack development.
2. Consider earning a degree
The education requirements for Web3 jobs vary depending on the role. Some roles may require a specific degree, such as marketing for a Web3 marketer or computer science for a software developer. However, gaining hands-on experience and developing relevant skills can often outweigh the importance of a degree. Researching job descriptions can help you identify the type of education and skills you need.
Consider taking online courses, coding bootcamps, or university classes to learn more about blockchain, cryptocurrency, programming languages, and related topics. A solid understanding of blockchain technology will be beneficial as Web3 is built upon it.
3. Learn the necessary skills
The skills required for Web3 jobs vary based on the specific role. For example, a front-end Web3 developer may need UX experience and proficiency in programming languages, while a Web3 marketer may rely on effective communication and data analysis. Here are some technical skills that may be relevant:
- Blockchain technology
- Data structures
- Ethereum Virtual Machine
- Front-end web development
- Non-fungible token (NFT) creation
- Programming languages: Solidity, JavaScript, C++, Golang
- Smart contracts
- UX design
In addition to technical skills, possessing workplace skills such as communication, flexibility, problem-solving, storytelling, and teamwork can enhance your value as a Web3 professional.
Build your Web3 expertise with Coursera
If you’re looking to gain expertise in Web3 technologies, you can explore online programs like “Web3 and Blockchain Fundamentals” on Coursera. This program offers insights into smart contracts, digital assets, and business strategies within the Web3 ecosystem, allowing you to earn a shareable certificate.
With the rise of Web3, the internet is entering a new era of decentralization that empowers users and enhances their online experiences. By staying informed, acquiring the necessary skills, and exploring career opportunities in this field, you can become part of the Web3 revolution.
FAQs
Q: What is Web3?
A: Web3 refers to the next stage of internet development, aiming to decentralize the internet and grant users more control over their data.
Q: How do companies monetize our data in Web 2.0?
A: In Web 2.0, companies collect user data and use it to serve personalized ads based on users’ online activities.
Q: What are the advantages of Web3?
A: Some advantages of Web3 include increased user interaction, ownership of personal data, permission for all network users, enhanced privacy, and improved data delivery speed.
Q: What are the disadvantages of Web3?
A: Disadvantages of Web3 include the cost and energy requirements of blockchain technology, the need for updated hardware, the challenge of content regulation, and the scalability limitations of current blockchain systems.
Q: How can I get into Web3?
A: You can get involved in Web3 by researching different Web3 careers, considering earning a relevant degree or gaining hands-on experience, and developing the necessary skills. Online learning platforms like Coursera offer courses to help you build expertise in Web3 technologies.