What Is Web3? Is The Hype Warranted? | Web3 Hosting

August 2023

If you even remotely follow what’s going on in the tech world, you’ve probably heard the term “Web3” thrown around at least a few times by now. However, if you’re still not grasping what the concept means, you’re not alone. The idea of a Web3 world can feel very abstract – which makes sense because it hasn’t come to fruition yet.

Still, the concept of Web3 as it exists now has the potential to seriously shake up the way we use the internet, so having at least a basic understanding of it is a good idea.

What is Web3, Anyway?

Currently, most would agree that we’re living in the era of Web 2.0. Also known as the era of centralization, this phase of the internet is defined by the massive sharing of information and mass communication across the web. Likewise, in a Web 2.0 world, much of what we do on the internet is in some way controlled or overseen by large corporations, such as Facebook (now Meta), Amazon, and Google.

In simplest terms, Web3 proposes to be the next big era of the internet. The biggest differentiator between Web 2.0 and Web3 is the decentralization of the web’s current setup. Rather than apps and platforms being run by these large conglomerates, Web3 puts the users in power. Specifically, users will be able to earn and retain their stakes by pitching in to help maintain and develop each platform or app. All of this technology would be built on Web3 crypto coins and crypto technology.

In general, the idea of Web3 is for users to reclaim their power on the internet from tech giants that have ruled the sphere for so many years.

Is Web3 Really the Future of the Internet?

Only time will tell whether the ideas behind the Web3 movement will come to fruition. However, what’s clear right now is that the concept of Web3 is attracting a lot of attention in the crypto world and from tech companies like Meta, Twitter, Google, and others.

In some areas, Web3 concepts are already in the works. For example, Helium offers a decentralized wireless network that pays people Helium “tokens” to users who share their wireless hotspots. There are already more than 240,000 hotspots set up across 21,000 cities in this network – so you could say that Web3 is already in practice. However, it is yet to be seen if the reality of Web3 will live up to the hype.

The Final Word on Web3

It will be interesting to see how this idea of Web2 vs. Web3 plays out, especially over the next several years. No matter what happens, you can rest assured that ReliableSite will continue offering the quality hosting service our users need to optimize their web experience. Perhaps a day will come when we even offer Web3 dedicated servers and Web3 hosting! In the meantime, you can always reach out with questions or for help in setting up your own dedicated hosting account.