Web2 is quickly becoming a thing of the past. Believe it or not, we are gradually moving from the Internet of the previous generation to the new wave of the Web.
Finally, Web3 has added technologies such as artificial intelligence and machine learning, which have further advanced the interactive nature of the web. The Internet has evolved significantly since Web3, with the introduction of new technologies such as blockchain and decentralized applications, as well as an improved user experience. This new generation of the Internet is built on distributed, trustless networks and protocols, making it more secure and resilient than ever before. Web3 also enables developers to create powerful, highly interactive applications, allowing them to integrate data from any source, including the Web, devices in the Internet of Things, and legacy systems. Let’s refresh our memory and remember the main traits of Web3.
Web3 leverages blockchain technology to enable a secure, distributed, and decentralized network for data transmission.
Smart contracts are self-executing digital agreements stored on a blockchain, enabling automated enforcement when certain conditions are met. They can facilitate, verify, and enforce agreements for financial transactions, real estate, or trade agreements. Smart contracts are a new way to create, store, and manage legally binding agreements.
dApps are open-source, decentralized apps powered by smart contracts, providing users enhanced privacy and no reliance on third parties. Examples include games, prediction markets, and exchanges.
Web3 provides added layers of security and privacy for data, allowing users to control how and when their data is accessed.
Web3 enables the tokenization of digital assets, allowing users to gain access to previously hard-to-reach asset classes.
Open Data Protocols in Web3 are protocols that enable access to data stored on blockchain networks. They provide uniform data access while leveraging decentralization, allowing multiple apps and services to share data. Examples include IPFS, BigchainDB, Libp2p, and ENS.
Machine Learning in Web3 is the process of leveraging technologies to enable autonomous agents - running on decentralized computer networks - to learn from data, make decisions, and take action. This can be used to build intelligent applications, such as automated financial services, prediction markets, automated insurance, and more. By utilizing machine learning, developers can create applications that can autonomously adapt to changes in user behavior and trends in the market.
Web3 enables data and applications to seamlessly interact across different networks and protocols.
One of the main proofs that Web3 is already here is the appearance of new products related to the Internet of the new generation. The development of spatial computing, the popularization of VR/AR, the evolving concept of the metaverse, the transformation of social media, and many others. Also, many web products that were widespread in Web2 are gradually getting outdated and likely be replaced with the new updated Web3 alternatives. These are the examples:
Audius is an innovative, decentralized music streaming platform that allows anyone to publish and access music without having to pay for a subscription. Artists can generate immutable and time-stamped records for their works with an incentive-aligned decentralized network of node operators, enabling them to create gated content, artist tokens, and remix contests.
Plus, with the native platform token $AUDIO, users get premium access to engage with exclusive fan experiences. On Audius, the future is decided by its users, with the voting weight directly correlated to $AUDIO staked to benefit the platform. It provides an open alternative to subscription-based music streaming services like Spotify.
Presearch is a decentralized search engine, powered by blockchain technology and the PRE token, that allows users to search privately and receive more accurate results.
Its comprehensive ecosystem includes tokens, a decentralized search engine, nodes, keyword staking, a marketplace, and the Ethereum blockchain. The Presearch Engine provides results that are equal to or better than those provided by conventional search engines, with the added benefit of an additional layer of data through community packages. It also ensures privacy, as it does not track or store searches.
Users can get rewarded for searching, operating a node, and referring others to Presearch.
What will happen if we combine ChatGPT and a search engine? Founded by Richard Socher, an esteemed natural language processing (NLP) researcher and former chief scientist of Salesforce, You.com is a revolutionary AI-powered search engine.
Furthermore, You.com also offers two special AI-powered features: YouCode, a coding assistant, and YouWrite, a writing assistant.
This open search platform also encourages developers to create apps and help build a more collaborative and open internet.
Your “secure messenger” is getting less and less secure. Status is an open-source, peer-to-peer platform with end-to-end encryption and a secure messaging app that keeps conversations and funds private.
Plus, their state-of-the-art crypto wallet ensures that funds remain safe from attack. With Status' intuitive design, users can explore the growing DApp ecosystem, including marketplaces, exchanges, games, and social networks, with the confidence that their Web3 browsing experience is kept private.
Want to start with crypto wallets but don’t know where to start?
MetaMask is a software wallet used to securely interact with the Ethereum blockchain. With its browser extension or mobile app, users can store and manage their cryptocurrency wallet, send and receive Ethereum-based cryptocurrencies and tokens, broadcast transactions, and access decentralized applications.
Dimo is an innovative new service that helps drivers gain and monetize their car data. The platform uses blockchain technology to allow users to securely store and share the data they gather while driving.
This data can be used to create more efficient driving routes, improve fuel efficiency, and gain a better understanding of the driving experience. Drivers can then monetize this data through the platform. Dimo offers an easy-to-use, secure, and transparent system that can help drivers get the most out of their car data.
Livepeer is a decentralized network for video streaming that uses Ethereum-based technology to distribute video transcoding work. It provides cost-efficient, secure, and reliable streaming infrastructure, bypassing the need to host, store, or distribute video.
The Livepeer Token (LPT) is used to secure the network and coordinate the work responsibilities of those supporting the video encoding process. Orchestrators use their computing resources to transcode video, while delegators stake LPT to ensure quality work. Both earn fees in ether or a stablecoin proportional to the amount of LPT they have staked. Every 5,760 Ethereum blocks, new tokens are minted and shared between delegators and orchestrators.
Experience a revolutionary way of mapping the world with Hivemapper. Their decentralized and ever-updating map is built by people using Dashcam to mine the cryptocurrency, HONEY. This new mapping economy allows users to share the economic benefits of a global map with those who are creating it.
Users simply need to install the Hivemapper Dashcam and start driving. As they drive, they're not only collecting HONEY for themselves but also contributing to a better map for everyone.
This map can then be used by businesses and developers to power their applications and operations.
Brave is a free and open-source web browser that focuses on user privacy. It automatically blocks online advertisements and website trackers and provides users with the option to enable optional ads that pay users in Basic Attention Tokens (BAT), a cryptocurrency.
Brave also includes Brave Wallet, a native crypto wallet that supports EVM-compatible chains (Polygon, xDai, Avalanche, etc.) and L2 chains, as well as non-fungible tokens. All user data is kept private on the user's device and is not accessible by any third party.
Braintrust is a revolutionary Web3 talent network that links skilled, verified knowledge workers with top enterprises around the world. As Braintrust is built and owned by its users, it is designed to always satisfy the needs of the community rather than a centralized company. Braintrust is a network that allows its knowledge worker and contributor communities to acquire ownership and control of the network and its assets through the BTRST token, resulting in an increase in Talent and job postings.
We are now seeing the emergence of Web3 tools into the mainstream – with both new and established companies implementing Web3 elements into their products. It's time to take advantage of this unique opportunity and join the Web3 revolution! With a wide variety of companies joining the fray, the future looks even brighter!