WHAT IS WEB3? By: The Tío Crypto

Web3 is an evolution of the current web (Web2) that focuses on decentralization and user autonomy on the internet. Web3 uses technologies like blockchain to create a more secure and transparent network that allows users to control their own data and online interactions. The term blockchain may sound mysterious or even frightening to anyone who doesn't have at least a basic understanding of it.

Its meaning is literal: a chain of blocks of information. It's perhaps the simplest way to explain blockchain. But what is it for? Why would anyone need something called blockchain? To find the answer, we need to look back to a not-so-distant time, closer to the beginning of the web. The internet is about storing and distributing information or data to large numbers of people.

Blockchain has a similar goal, building on previous experiments that sought ways to improve distribution. Before blockchain, the internet needed to exist reliably and be distributed in order to be used by many people. In its early days, in the 1960s, the internet was a simple, relatively small network, used primarily as a tool for university researchers and the US government to share information digitally.

Over time, the early pioneers of the internet created the most useful system. The greatest impacts came from the development of communication standards that enabled web browsing and the development of email as a means of digital communication. These protocols made the internet accessible not only to researchers but to everyone, and on a growing number of devices, including computers, tablets, and smartphones.

Even so, this relied on centralized servers from large companies like Google and AWS. Web3 is based on a decentralized network of computers and nodes, where each user has their own control and ownership over their data and transactions. This allows for greater online privacy and security, as well as greater autonomy and control for users.

Web3 is also seen as an opportunity to build more innovative and disruptive online applications and services, such as decentralized markets (DeFi) and peer-to-peer exchange platforms (SWAPs). Furthermore, with Web3, data transactions become faster and cheaper, which can have a positive impact on local and global economies.

In summary, Web3 is an evolution of the current web that focuses on decentralization and user autonomy online. It leverages blockchain technologies, enabling greater control and privacy for users, as well as the ability to build more innovative, disruptive, and autonomous applications through smart contracts.

Lucas R. Bulgalá Martínez

@eltiocryptologico