What is Web3 and how does it differ to Web2?
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Web 1 – The internet was website creators and website readers with little interaction between the two. For example – the Space Jam website where you went and learned about Space Jam. That’s about it. Sort of like the book industry, a writer writes a book, readers read the book. But that doesn’t mean readers interact with each other or the author directly. **”The product is what the user buys”.** (Amazon exists to sell books)
Web 2 – The rise of social media – the internet is now a place where people interact with each other, message boards, Reddit, people leave comments and reviews on Amazon. The internet is now a place of conversation and discussion. **”The product is how the user interacts”.** (Amazon’s book sales are secondary to Amazon’s algorithms and advertising engine, watching you and funneling your eyes where it wants)
Web 3 – The decentralization of the internet. With the rise of smart watches, smart speakers, smart refrigerators, smart sensors everywhere, the idea of “going online” is gone, we are now fully online without even thinking about. **”The product is user itself”.** (You’ve every waking action is now tracked, hashed, and sold as a single data point in the unimaginable massive internet of things).
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