In recent years, the term 'Web3' has become popular worldwide as people wish to move towards "Decentralization". This has become a transparent way for users to participate in developing the next generation of platforms and applications that will shape how we live, interact with each other, and work. So, nowadays evidently there is a migration from Web2 - which forms the modern Internet to Web3 - which allows peer-to-peer transactions without centralized platforms and intermediaries. If you want to know more about Web2, and Web3, the major differences between them, and the factors involved in the migration from Web2 to Web3, then this blog is totally for you.
Let's delve into the topics without any delay
What is Web2?
Web2 refers to the version of the Internet that we know today and it opened doors to user-generated content and brought big attention to interoperability and usability. With this Internet version, users can communicate with servers in real time, communicate with other users, edit web pages and post comments. However, Web2 has certain restrictions such as failure to remove outdated details, lack of intelligence, a large number of frauds, and so on.
What is exactly Web3?
It is the evolution of the world wide web that has been defined as read, write and own. It aims to allow users to have ownership over the projects they build and the content they create. Here there will be no single entity control over the Internet and each and everyone can participate in an unreliable environment that is controlled by consensus protocols.
To make you understand better here I will list down some main differences between Web2 and Web3.
|Internet is managed and owned by centralized entities||Enables the ownership to be distributed among builders and users. Creates a decentralized ecosystem to conduct transactions in a peer-to-peer setup
|Focuses on writing and reading content
||Focuses on creating content (Semantic web)|
|No equal access is given||Everyone has equal access to Web3|
|Relies upon old infrastructure of payment processors and banks (fiat money is used in transactions)||Utilizes cryptocurrencies such as Bitcoin or Ethereum for sending and spending money online|
|Relies upon trusted third parties||Utilizes economic mechanisms and incentives to operate|
|Web2 apps include social bookmarking, podcasts, RSS feeds, blogs, and video sites||Incorporates AI and machine learning-powered dApps, 3D portals, and virtual worlds|
To say in a nutshell, Web3 with its decentralized structure and transparent transactions is undoubtedly the next reality of the Internet. I hope you are now clear with Web2, and Web3 and their major differences. Now let us see some key aspects that need to be considered while moving from Web2 to Web3
Aspects To Be Considered While Moving From Web2 to Web3
As mentioned in the previous section, Web3 uses decentralized currency and so users should move from a simple payment gateway to a crypto wallet. Metamask is the best choice and users can also make use of third-party wallet libraries or APIs as per their needs. Web3 wallets will provide a gateway to innumerable gaming and nonfungible tokens, Decentralized finance (DeFi), and blockchain-based crypto apps.
Web3 apps differ from Web2 apps as they have distinct data architectures. Web2 apps are application-centric and store information related to an app on a single server. Whereas Web3 apps use a user-centric data storage model that stores app data on a distributed network and enables users to access it.
Also, unlike centralized data storage where user data is utilized for personal gain, storage data ownership belongs to the user in Web3. So, in web2 to web3 data migration, the shift from a simple storage method to a decentralized data storage method is required.
User Flow Changes
User interaction in Web3 will be higher compared to Web2 as users need to interact with Web3 through smart contracts whenever they wish to sell, buy, transfer and make purchases with tokens.
Transactions That Are Needed To Be Stored During Migration
- When a user creates a token, all details about that token's owner need to be stored in Web3. When a user sells or buys a token, that should be stored in Web3 with all the information of the current and previous owner.
- Apart from these factors, there are several challenges that you may face while migrating from Web2 to Web3, and let us see those now
- Web3 interfaces are normally not as accessible to non-technical users as Web2 and so UI/UX enhancement challenges may be faced during migration from web2 to web3
- Data privacy needs to be addressed. However, Web3 has already shown its ability to enhance data security as data stored on a public blockchain is difficult to be commoditized.
- Lack of scalability is another key challenge that needs to be handled effectively as most blockchains used today still can't reach the scalability level offered by Web2/fiat database technologies.
From the above sections, you may now understand Web2, Web3, the benefits of moving from Web2 to Web3, and some vital factors that need to be taken into account while migrating from Web2 to Web3. You may now have a question, How to build a stunning Web3 platform for my business? or How to move from Web2 to the Web3 platform successfully? You can approach a leading web 3 development company like Bitdeal that has rich expertise in delivering the best web 3 solutions for various business models. Reach this renowned blockchain developer and succeed in migrating from Web2 to Web3 for your business within your budget and in a short span of time.
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