Crypto gives us the option to truly own our money. But what is this magic internet money, if not encrypted data? Indeed. And so, the crypto revolution not only holds the promise of owning our money - but owning all our data and sharing them with who we please. The umbrella term for this new iteration of the web is Web 3. Let's see how it differs from the not-so-good-old Web 2.
What is the difference between Web 2 and Web 3? Web 3 is a reaction to Web 2: the internet that coalesced towards a handful of giant companies reigning over user content and data. With Web3, it becomes possible to control and financially benefit from our own content, money, and data.
An Example of a Web 3 Application: Brave Browser
Before going into the comparison of subsequent iterations of the internet, let's dive in with an example of a Web 3 application that has been gaining traction in the last few years: Brave browser. This will instantly make some differences clear.
It all starts with logging in. To log in on Web 2 platforms like Google or Twitter, your username and password are paired and stored on the server of the platform. The problem with this is that it makes you as a user vulnerable to each website you have an account with to keep your credentials safe.
Related Articles
Staking vs yield farming: These two things look similar on the surface but are anatomically different beasts.
Crypto developers have already been trying to monetize this emerging domain. What projects should we pay close attention to? In other words, what are AI coins?
Let’s dive into the difference between a bull trap versus a bear trap.
How to invest in Web 3? It turns out there are three important angles to do this. Buy coins, find a job, or buy stocks.
What are the benefits and drawdowns of centralized and decentralized exchanges? What should you consider when deciding which type of exchange(s) to use?
Everyone likes stablecoins as a fast and cheap way to get access to (mostly) on-chain dollars. But who is on the ‘other side of the trade’? In other words, How do stablecoins make money?
– I share my thoughts on the state of the market, Genesis owes 900 million to customers, Arbitrum domination, Twitter crypto payments, market downturn & Litecoin.
– Rekt Capital has the latest technical analysis for you on the market.
– Erik has a report for you on the upcoming Ethereum Shanghai upgrade.
– Defi Dad has a tutorial for you on how to earn 4.75% staking LINK with Chainlink Economics 2.0.
– Jesse has a ton of hot new airdrops for you.
– Hot new token sales.
– Rebecca has all of the latest news for you.
The Ethereum Shanghai upgrade will include a few large improvements. The most noticeable one: people who currently stake their ETH will be finally able to withdraw.
The Cardano Midnight sidechain is to smart contract blockchains, what privacy coins are to Bitcoin.
Ever since that fateful FTX week in November 2022, crypto exchanges and brokers have been bombarded with demands from their clients: Show us proof of reserves.