Unquestionably, we are experiencing a new revolution in the world of the Internet, where new concepts such as Web3 and the Metaverse are beginning to form part of our daily lives. But what do they mean? What similarities and differences do they have? And how are they changing the world? Here, we are going to tell you…

The concept of Web3 refers to a new version of the Internet and to understand it better we must know its two previous versions: Web1 and Web2. The first version of the Internet or Web1, focused on the publication of content that Users consumed passively, that is, content available only for reading, which did not allow generating any type of interaction with it.

These contents were mainly published in blogs developed with open protocols, which means that they did not belong to any company, they belong to the community.

Otherwise, we have the second version or Web2, which is the one currently in force and its main characteristic is the interaction of users through social networks. Users who in turn became content creators.

However, all this activity is centralized in these networks, which in turn control the distribution of information. This is the era of companies like: Facebook, Google, Apple, Amazon, among others.

Now that we better understand these two concepts, what is then the third revolution of the Internet or Web3? Well, Web3 is a new concept that seeks to combine the best of its two previous versions. Decentralize the network, returning to open protocols, without restricting user participation in content creation.

To achieve this, it will use blockchain technology, which consists of a set of parameters that allow keeping a secure, decentralized, synchronized and distributed record of digital operations, without the need for third-party intermediation. (Taken from: Solunion.cl)

This will allow each user to be the owner of their data and have the possibility to exchange digital assets or Tokens. Consequently, developers and users will own the internet and could monetize their work through these Tokens.

WEB3: A TRANSPARENT, DEMOCRATIC AND DECENTRALIZED NETWORK.

The third internet revolution comes with new promises and expectations. It is expected to be democratic, open and decentralized, allowing anyone to own it. Also, make it a more transparent network, thanks to the inclusion of blockchains.

In Web3, the identity will be linked to the user’s wallet or digital portfolio, protecting their identity and privacy. Keeping the information anonymous, unless the user decides to make it public.

Another objective of Web3 is to improve aspects of Internet security. In this way, eliminate “Phishing”, reduce the need to use too many passwords in each service, develop applications that work without internet or even avoid the fall of the internet due to a failure in a single infrastructure.

This last aspect is especially important if we take into account the high degree of dependence of many companies on certain infrastructures. An example would be the case of Google, when in 2020 many of its services suffered a drop of approximately 45 minutes. Or the case of Facebook, which recently suffered an interruption of more than six hours, which also affected WhatsApp and Instagram.

Although they normally occur for very short periods, the impact of these falls is still significant and generates ever-increasing losses for the industry.

Contrary to many of the positives, Web3 is projected as a model where you must own tokens or digital assets to participate. Many analysts such as Samuel Gil, investor and partner at JME Ventures, do not agree and point out that: “Many times, the user of certain services already rewards you, because one way to have without investing is to be a user”.

Gil also mentions that: “What is the brutal paradigm shift is the change from renting to owning. You enter Twitter, you invest a lot of hours to have your audience, and you are trusting the good faith of the service. Otherwise, in Web3 you own the assets and you could take your audience elsewhere if you wanted. It’s that mindset shift.” (Taken from: Newtral.es).

¿HOW ARE WEB3 AND THE METAVERSE RELATED?

As we have already mentioned in previous notes, the metaverse is a virtual world created digitally through a computer, while Web3 focuses more on the creation of decentralized infrastructure that allows users to create and manage their digital assets, even from the metaverse itself.

To connect to this new world (metaverse) and feel that we are really immersed there, the use of different devices such as glasses and headphones, mainly, is required.

These devices are intended to provide the user with a 100% immersive experience through the transmission of visual and auditory content, which, complemented with touch sensors and other olfactory factors, transport the user to a more realistic experience.

In order to meet expectations, the metaverse requires that more and more people or users begin to move some of their primary activities such as playing, working or studying to new digital environments. This will allow to improve the interaction between the participants, giving way to a new digital economy. And this is where Web3 becomes important.

Being a new system with open protocols, which seeks to decentralize the network, it will facilitate safer transactions such as NFTs or any other that is carried out between Internet users.

As you can see, there are many similarities between Web3 and the metaverse and that is why they are two key concepts in this new era of the internet and technology that seeks to improve the way we interact with the digital world, through safer and more immersive experiences that will pave the way to a new stage of humanity.