Are you an EPFL student looking for a semester project?
Work with us on data science and visualisation projects, and deploy your project as an app on top of GraphSearch.
Concept
Web3
Summary
Web3 (also known as Web 3.0) is an idea for a new iteration of the World Wide Web which incorporates concepts such as decentralization, blockchain technologies, and token-based economics. Some technologists and journalists have contrasted it with Web 2.0, wherein they say data and content are centralized in a small group of companies sometimes referred to as "Big Tech". The term "Web3" was coined in 2014 by Ethereum co-founder Gavin Wood, and the idea gained interest in 2021 from cryptocurrency enthusiasts, large technology companies, and venture capital firms. The concepts of Web3 were first represented in 2013.
Critics have expressed concerns over the centralization of wealth to a small group of investors and individuals, or a loss of privacy due to more expansive data collection. Billionaires like Elon Musk and Jack Dorsey have argued that Web3 only serves as a buzzword or marketing term.
History of the World Wide Web and Web 2.0
Web 1.0 and Web 2.0 refer to eras in the history of the World Wide Web as it evolved through various technologies and formats. Web 1.0 refers roughly to the period from 1989 to 2004, where most sites consisted of static pages, and the vast majority of users were consumers, not producers of content. Web 2.0 is based around the idea of "the web as platform" and centers on user-created content uploaded to forums, social media and networking services, blogs, and wikis, among other services. Web 2.0 is generally considered to have begun around 2004 and continues to the current day.
Web3 is distinct from Tim Berners-Lee's 1999 concept for a Semantic Web. In 2006, Berners-Lee described the Semantic Web as a component of Web 3.0, which is different from the meaning of Web3 in blockchain contexts.
The term "Web3" was coined by Polkadot founder and Ethereum co-founder Gavin Wood in 2014, referring to a "decentralized online ecosystem based on blockchain." In 2021, the idea of Web3 gained popularity. Particular interest spiked toward the end of 2021, largely due to interest from cryptocurrency enthusiasts and investments from high-profile technologists and companies.
Official source
About this result
This page is automatically generated and may contain information that is not correct, complete, up-to-date, or relevant to your search query. The same applies to every other page on this website. Please make sure to verify the information with EPFL's official sources.