i did a quick google search what is web 3. 0 after a few comments on previous videos were asking me to cover it and someone in our free discord suggested it but i didn't really get an answer in fact i got a few answers that didn't really match up so if you're watching this video get ready to learn exactly what web 3. 0 is and what it means for cryptocurrencies welcome to whiteboard crypto the number one youtube channel for crypto education and here we explain topics of the cryptocurrency world using analogies stories and examples so that you can easily understand them in this video we are going to explain what web 3.
0 is how cryptocurrency ideas tie into the evolution of our current internet and what it means for you as a user before we officially start this video though i just want to say that there's not some internet encyclopedia that's verified by the institute of global technology that has a strict definition of what web 3. 0 is so instead i'm going to give you a rough definition of what the internet says web 1. 0 is what a lot of people are saying web 2.
0 is and then i'll explain this new phenomenon that a lot of people are calling web 3. 0 let's start with 1. 0 an initial overview of what the internet was between the years of 1991 and 2004 the internet was mostly a bunch of static pages meaning that whenever you loaded them they just showed some stuff and that was it some called it read only there wasn't any logging in or interacting with posts or viewing analytics most of the early internet wasn't even profitable by ads it was mostly just like one big wikipedia all hyperlinked together now of course with time we slowly made improvements and things like flash and javascript added many new different features however during this time the users of the internet were consumers they went to the internet to consume information next we have web 2.
0 from around 2004 until now during this time the web evolved a lot but one of the biggest changes was the interactivity of the internet this meant that not only did we get information from pages but the web pages started getting information from us as we viewed facebook and youtube and performed google searches these centralized companies started collecting data about us so that they could serve us better content which in turn would make us stay on their websites longer this meant more money for them but eventually they realized they could package up all the data they had collected on us and sell it to advertisers web 2. 0 is the age of targeted advertising and the lack of privacy for its users now to be fair we willingly gave up this privacy too for cool apps like facebook and twitter in web 2. 0 me and you could both view facebook.
com and see two very different news feeds because the page depended on who was viewing it which is an important note for a difference in web 3 that we'll talk about in a minute the content on your feed is the company sorting data by information that you know that you gave them like likes and how much you watched a video but if you look at the ads that they show you that is them sorting data by information you didn't know you give them when you went to go eat tacos last night they knew that when you dropped your kids off at school every day at 8 a. m except for fridays they knew that and there was even that one article that said machine learning started showing a guy some parenting ads because they knew he was going to be a father before he did if it wasn't machine learning it was probably because his girlfriend used their public ip address to do a search on her symptoms and the machine learning algorithm probably already knew when she was ovulating anyways whatever the case is how they predicted this one centralized company controlling all of this data whether we want to or not is scary if you've enjoyed this video so far and want to give the algorithm more data to crunch consider clicking that like button it helps our channel grow and makes our team feel all warm and fuzzy inside next up is web 3. 0 and this is what you came to learn about web 3.
0 is the next evolution of the internet probably utilizing blockchain technology and the tools of decentralization in web 2. 0 you were the product as you were browsing social networks but in web 3. 0 some believe that you will be the owner of your content the stuff that you post online now this is kind of true so if you want a post to stay up it'll stay up but if you want to take it down they say in web 3.
0 you can control that because as we all know usually when something is on the internet it's always on the internet here's one example that's already real odyssey is a blockchain alternative to youtube where videos can be posted and creators can earn library tokens which are basically a reward for enticing viewers to watch their videos the thing about odyssey though is that they can't really stop a video from being posted if someone uploads it and someone else in the network wants to share it they technically download that video and then let others watch that video and download it as well kind of like a big torrent network if you know what that is to expand on this your post couldn't get taken down because your post wouldn't just be on one of facebook servers it would theoretically be on thousands of computers around the world ensuring that the blockchain social network you're on is not attacked or censored theoretically this means there would be a lot of illegal and hateful things posted but it would be in the name of freedom of which the users of the networks could probably decide on a system to reduce that harmful content but that's for another video in web 3. 0 experts say that we will reach the point of the internet where every company is ran by a decentralized group called a dao which stands for decentralized autonomous organization and if you want to learn more about what those big words mean we have an entire video on that topic and what they are used for however taos mean that there are no ceos or presidents to impress those with the most tokens get to vote on how the company changes not limited by a government or some family tradition in web 3. 0 there will be no censorship of social networks like facebook or twitter one controlling authority cannot shut it down lastly one of the biggest things in web 3.
0 is that your digital identity is not 100 connected to your real world identity this means i can view pages download things make purchases and any other activity on the internet without being traced to the real me now there are many ways we can anonymize ourselves online but bingo i think that might be a future video idea so hit the subscribe button if you're not already subscribed wrapping it up these may be long-term ideas of those who think about web 3. 0 what web 3. 0 really means for us is that in the next decade you might be able to buy amazon gift cards using metamask and pay with ethereum or that you could anonymously leave a like on one of your friends posts using one of your hidden wallets it's not going to be a bunch of life-changing stuff all at once it'll likely be a series of ideas that grow together until centralized companies like facebook and google are disassembled by legislature while decentralized unregulated dows grow to replace them i also want to talk a bit about the web 3.
0 foundation now there is a company called the web3 foundation that supports projects for increasing decentralization on the internet their three big projects are the blockchain polka dot polka dots test chain and the web3 summit which isn't a good overview of what web 3. 0 actually is but they also offer some grants which a lot of them have to do with supporting and using the pokedot blockchain so it seems to me the polkadot team used the web3 name as a brand to push their own agenda but that's not what this channel is about to give you an understanding of what i mean by this this would be like the company facebook buying a foundation for web 2. 0 and saying they are the ones who initiated it facebook is a company while web 2.
0 is an idea the same way that polka dot is a blockchain and web 3. 0 is an idea one doesn't own the other i actually also watched another very interesting video called why web 3. 0 is a scam where trader university talks about how solana is also taking advantage of the novelty of web 3.
0 i just want you guys to understand that web 3. 0 is a big concept that is a bunch of little ideas not one idea ran by a foundation to get you hyped up for the next step of the internet or to buy their token as we end this video if you want to support the education of web 3. 0 consider subscribing to this channel and checking out our free decentralized finance for beginners guide you can check it out at whiteboardcrypto.
