What Is Web3? | Web3 Tutorial For Beginners | Web 3.0 | Simplilearn

What Is Web3? | Web3 Tutorial For Beginners | Web 3.0 | Simplilearn

welcome to this video on what is web 3.0
so in this digital landscape we witness
a profound Evolution from the static
pages of web 1.0 to the interactive
platforms of Web 2.0 but what exactly
distinguishes web 3.0 from its
predecessors web 3.0 the next stage is
like a highway it’s built on
decentralization meaning users are in
control not big companies so in this
video on what is web 3.0 we will cover
what is web 1.0 and Web 2.0 how is web
3.0 different from them which all
Technologies use web 3.0 features and
web 3.0 use cases and applications and
much more craving a career upgrade
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before understanding web 3 Let’s
understand what are web 1 and web two so
imagine the internet as a big playground
web one was like the first version of
this playground it started in the 1990s
and went into on to early 2000s during
this time people mainly used the
Internet to read stuff on web pages and
talk to each other it was like reading a
book for chatting with friends but on a
computer web one was built on something
called open protocols which basically
means it was set up in a way that anyone
could join and share information it was
like having a big party where everyone
could come and chat as time went on
people started using the internet for
more things like buying and selling
stuff that’s e-commerce and doing
research but mostly it was kind of like
a oneway street with people mostly just
reading stuff then came web2 which was
like an upgrade to playground this
happened in the mid 2000s with web2
suddenly people could do more than just
read stuff they could create their own
content like posting pictures sharing
stories of writing on blogs companies
like Facebook Twitter and Wikipedia
popped up during this time they made
made it super easy for people to create
and share their own stuff but there was
a catch even though these platforms were
free to use users didn’t always realize
that they were giving away some of their
personal information in exchange so yeah
this was about web 1 and web2 now let’s
talk about how is web 3 different from
web 2 so in the web 2 era big tech
companies hold the Rance over
transactions content and data but with
the emergence of web 3 things could
change supporters of web3 believe that
users will gain control over their own
information without relying on middlemen
like we do now this shift could shake up
how information gets handled how money
flows on the internet and maybe even how
online companies operate another big
difference is how trust Works in web2
when you do something like send money or
share information you need to trust the
other person and often a middleman too
to handle your data safely but in three
trust Works differently here
transactions only happen if certain
conditions are met and the data is
confirmed no need for users to trust
each other directly web 3 operates on a
decentralized system meaning there’s no
Central Authority controlling everything
instead transactions are verified and
executed automatically by computer
programs called smart contracts the
concept of blockchain technology which
is essentially a secure and transparent
digital lead every transaction made on
the web3 network is recorded on the
blockchain creating a permanent and
temper proof record of activity all
right so this was about how is web 3
different from web 2 now let’s have a
look at the features of web 3.0 so web 3
the next evolution of Internet boast
several distinctive features that set it
apart from its predecessors so first is
cryptocurrency enabled one of the
defining features of web 3 is its
integration of cryptocurrency into its
framework cryptocurrencies such as
Bitcoin and ethereum serve as a native
digital currencies for transactions
within the web3 ecosystem these
decentralized digital currencies enable
peerto transactions without the need of
intermediators fostering a more
inclusive and efficient Financial system
the next is decentralized so in web 3
decentralization is a key unlike web 2
where power is concentrated in the hands
of few centralized entities web 3
operates on a decentralized network of
nodes this decentralized architecture
ensures that no single entity has
control over the entire network
promoting transparency resilience and
censorship resistance all right coming
to the third which is blockchain based
so web3 relies heavily on blockchain
technology to secure record transactions
blockchain a distributor Ledger
technology provides a temper resistant
and transparent mechanism for storing
transactional data each transaction on
the web3 network is cryptographically
linked and recorded in a chronological
order ensuring Ing immutability and
transparency all right then semantically
organized yes web 3 aims to organize
information in a semantically meaningful
way allowing for more efficient secure
and retrieval of data semantic
organization involves structuring data
in a way that enables computer to
understand and interpret its meaning by
leveraging semantic Technologies such as
link data and ontologies web 3 enhances
the interoperability and discoverability
of information across the dcent ized web
all right now coming to web 3.0 use
cases so web 3.0 the decentralized web
opens up the world of innovative use
cases and applications that
revolutionize how we interact and
transact online here’s a simple
breakdown of some Concepts first is NFD
that is non-fungible tokens nfds are
unique digital assets stored on a
blockchain representing ownership a
specific item or piece of content like
digital art Collectibles or virtual real
estate they enable creators to
authenticate and monetize their digital
Creations while buyers can own and trade
these assets securely then there is Da
apps that is decentralized applications
so da apps are applications built on
blockchain networks operating without a
central Authority these apps offer
various functionalities such as
decentralized Finance Dey gaming social
networking and more D apps provide users
with increased security transparency and
control over their data and transactions
then the next one is smart contracts
smart contracts are self-executing
contracts with predefined rules and
conditions written in code they
automatically execute and enforce
Arrangements when specific conditions
are met without the need for
intermediaries smart contracts Powers
various decentralized applications and
enable trustless transactions on
blockchain nwork next one is Dey so Dey
or decentralized Finance refers to
financial services and applications
built on blockchain networks aiming to
democratize and decentralize tradition
Financial systems Fe platforms offer
services like lending borrowing trading
and asset management without relying on
intermediaries like Banks or Brokers
providing users with greater Financial
autonomy and inclusivity all right the
next is Dows that is daos decentralized
autonomous organizations Dows are
organizations governed by smart
contracts and operated by the members
without centralized control members
collectively make decisions and manage
the organization’s resources using
transparent and decentralized voting
mechanisms Dows enables collaborative
decision making and resource allocation
in a trustless and transparent manner so
this was about the use cases of web 3.0
now let’s understand the advantages of
web 3.0 all right so here are the
advantages first one is enhanced privacy
and security so decentralized
architecture reduces Reliance on
centralized servers minimizing the risk
of data breaches and unauthorized access
next is financial inclusivity
decentralized Financial Dey allows
individuals worldwide to Access
Financial Services like Landing
borrowing and trading without
traditional intermediaries next is
innovation and creativity decentralized
application that is D apps and
non-fungible tokens enable creators to
monetize their work and users to own
unique digital assets foring Innovation
and creativity then there is
transparency and Trust smart contracts
and decentralized autonomous
organization that is Doos ensures
transparent and automated executions of
agreements fering trust with the
community and reducing the need of
intermediaries all right next one is
global accessibility so web 3.0 breaks
down geographical barriers providing
access to service and information to
individuals worldwide regardless of
their location or background so as we
conclude our exploration of web 3.0 we
have journeyed through the evolution of
web 1 to web 2 and now to decentralize
landscape of web 3.0 we have unraveled
the distinctions between Web 2.0 and
decentralization successor delving into
the technologies that underpin web 3.0
and its mered features from enhanced
privacy and financial inclusivity to
innovative applications like Dey and
non-fungible tokens web 3.0 offers a
transformative vision for the future of
the internet all right guys with that we
have come to the end of this video If
you like this video please give it a
thumbs up I hope it really helped you
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In this video on What Is Web3?, we delve into the evolution of the internet, exploring Web1 and Web2 before unveiling the transformative concept of Web3. Discover how Web3 diverges from its predecessors, revolutionizing online interactions through decentralized technologies like blockchain and smart contracts. Learn about the key technologies powering Web3, including Ethereum, IPFS, and decentralized finance (DeFi). Explore the remarkable features of Web3.0, such as decentralization, trustlessness, and enhanced privacy. Dive into real-world applications and use cases, from decentralized finance and NFTs to supply chain management and digital identity. Uncover the myriad advantages of Web3, from improved security and transparency to greater user control and empowerment.

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