Currently, the most accurate description is that Web 3 is about the decentralization of the internet. All of this goes hand in hand with the evolution of cryptocurrencies, NFTs, decentralized finance, and the famous blockchain. Speculation is that this decentralization would target large technology companies: Google, Facebook, Amazon, etc., which possess a wealth of user information and data.
But, why has it been defined as decentralized? The proposal aims to solve some problems, such as information distributed only on a few servers in the world. This update aims to connect a supercharged P2P network to unleash blockchain technology, which can be public, private, or hybrid. Currently, existing developments are carried out on the Ethereum network.
This latest technology aims to provide users with a more personal way of using it, without the need to provide personal information and private data in exchange for a product or service.
It should be noted that the evolution of this revolutionary internet stems from a timeline. It began with Web 1.0, which is the already known version where users could interact on the web, such as purchasing products and exchanging information between companies and clients through websites. Regarding the evolution to Web 2.0, we could say we're already on the right foot, as it relates to the applications we use on our mobile phones. Meanwhile, Web 3.0 would be built on these and become the entry point into the world where all this works with virtual money like Ethereum, Market, and Ocean.
Web 3 or Web 3.0 still has a long way to go before achieving mass or global implementation, as more companies need to be created, the user experience in new projects needs to be empirically tested, and they need to evolve to their ultimate scalability.