What are the key differences between Web2 and Web3?
The question is about Web 3.0
The key difference between Web2 and Web3 lies in how data is managed and controlled. The current internet, web2, is centralized, and the large companies are able to control your data from the centralized servers. The consumers interact with the internet through platforms along the lines of social media, e-commerce sites, and apps. They have little control over their data, which third parties often monetize.
Decentralized, blockchain-based, Web3 enables peer-to-peer interaction directly by the user in control of his data, assets, and digital identity. Applications, now called dApps in Web3, utilize smart contracts to run transactions or implement rules sans any interference from third-party agents. This gives a lot more privacy, more transparency, and actual ownership to the user. While convenience and scalability are the priorities on Web2, on Web3, the priorities are decentralization, security, and user empowerment.
