Social media is big on understanding Web2, but it’s also big on understanding a lot of Web3’s promise.
At this point, we all know that there are some issues associated with social media for Web2. Data leaks, such as those suffered by 533 million Facebook users across 106 countries, have exposed massive amounts of personal information. Then, control over content – or lack thereof – is another drawback. Creators who open an Instagram account must allow “to use, distribute, modify, play, copy, perform, display, display, translate and create derivative works” of their content. Feeds coordinated by the platform’s algorithms increase bias and polarization. But now Web3 is set to change all the problems people have with Web2 social networks. Social media is big on understanding Web2, but it’s also big on understanding a lot of Web3’s promise. The backbone of social media is the idea of logging into a site to see user-generated content, with the user getting no reward. Instead, the reward goes to the website that made that content discoverable. Web 3.0 is currently gaining traction in the online space. Its growing popularity matches the popularity of blockchain and the widespread acceptance and adoption of security technology.
Now we must move on to the next generation of the Internet, which is currently used all over the world. Web 2.0 revolutionized the web and its related industries. This web version has made it very easy for users to collect, create and distribute huge amounts of data with just one click. Hundreds of new apps are submitted to the mobile app store every day. Also, the phones have a built-in camera that produces images that are the most original cameras on the web1 couldn’t even have imagined a few years ago. The best feature of Web 2.0 is that it allows users to create and distribute content on global networks. Social media channels like Instagram, Facebook, and other video streaming apps, blogging, podcasts, and social bookmarking are all examples of Web 2.0 platforms. This period is also known for the ease with which music and video snippets are shared.
Web3 (approaching fast)
Centralization has helped move billions of people onto the World Wide Web and create a stable and robust infrastructure on which to live. At the same time, a handful of centralized entities hold a fortress over the vast expanses of the World Wide Web, unilaterally deciding what should and should not be allowed. Web3 is the solution to this dilemma. Instead of the Web being monopolized by big tech companies, Web3 is decentralized and built, operated and owned by its users. Web3 puts the power in the hands of individuals rather than companies.
Top 5 Emerging Trends in Web3
BAAS: BAAS, which stands for Brands as a Service, is a completely new trend in blockchain technology. It is a cloud-based service that enables customers to work with the blockchain to create digital products. It is a regulated industry and for businesses and consumers to interact with these financial services they need to access the banks.
Flux: Flux is Web’s unreliable data layer 3. Flux is a cross-chain oracle that provides smart contracts with access to an economically secure data feed on anything. With the help of Flux, one can develop Web 3.0 applications and decentralized projects.
Semantic Web: The term “Semantic Web” refers to the W3C’s vision of the Connected Data Network. The Semantic Web includes the principles of the Web, which extend from documents to data, such as the data network.
NFT will boost Web 3.0 traffic: A key element to boosting Web3 traffic are non-fungible tokens, which are digital holdings that are transacted with cryptocurrency. It will also lay the foundation for creators to relate to their users like never before.
Low Code Application Building Software Low code development is a visual drag-and-drop approach to development that enables organizations to build applications much faster and with less manual coding. With the advancement of Web 3.0, the trend of eliminating low-code or no-code application builds has emerged.
Web2 social media has created an indescribable pain dimension! Could Web3 be an antidote? first appeared.
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