Web1

Web1, or the first version of the internet which existed in the 1090s and early 2000s was a far cry from what we are used to today. Web1 was completely decentralized and open source and consisted of entirely of content created by its individual users. Web1 mostly consisted of read-only pages which users were largely unable to interact with. In the web1 era, it was not uncommon for pages to exist for long periods of time without being regularly updated. The majority of these pages resembled modern day blogs.

Web2

Web2, or web 2.0 as it was commonly referred to during its creation, is the internet that we are most familiar with today. The web2 era was defined by the transition from the decentralized nature of the web1 era, to a new generation of the internet, in which most of the new content generated came from individuals using centralized platforms, like YouTube and Facebook. The creation of web2 came with an explosion of new tech companies, backed by copious amounts of new money used for development. The web2 era was the internet equivalent to the early stages of the space race.

Web3

The way web3 is being designed, it will share many similarities with web2 as far as functionality, however its fundamental design will lean further away from centralization. By contrast, web3 is being built to serve as a level playing field for users and developers alike. This is achieved through decentralized, community run development platforms such as Ethereum and Solana. For this reason, the coins and tokens used on smart contract enabled cryptocurrency platforms have some of the highest potential for investment returns. Holding these cryptocurrencies is paramount to investing in the TCP/IP protocol that is responsible for the internet boom of web1 and web2 combined.

Web3 and NFTs

Non-fungible tokens, or NFTs are a large cornerstone of the web3 foundation. Currently, only a small amount of the value of the NFT space has been tapped. Most of the NFTs which are floating around are used primarily for the trading of digital artwork. Non-fungible tokens however are evolving to take on a variety of purposes. NFTs can be adapted to serve as the ownership titles for any physical or intellectual property that you can think of. Furthermore, the transfer of ownership of an NFT from person to person is nearly instantaneous and requires far less human interaction, as they are governed by the rules of a smart contract computer program.

Some of the practical uses of NFTs include the transfer of medical records, tracking livestock, transferring property titles, and tracking intellectual properties which exist purely in digital form.

Conclusion

At the current rate of development, web3 will become a part of everyday life sooner than we know it. Much of the framework behind web3 has already been developed, and the web3 space is currently generating more jobs than any other field of tech. We are looking at a new frontier of how the internet interacts with the world around us and Killer Whale will be here to help you invest in this exciting new technology every step of the way!

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