Direct investment in blockchain protocols, through crypto, is the right place to start participating in the growth of Web 3.0. Here at Binance, we offer fiat gateways into the crypto world, including projects that advance Web 3.0.
Without a doubt, the birth of the Internet has given rise to the most significant technological revolution ever known to mankind. The Internet has broken down geographical barriers, made information more accessible, and connected humans in ways that were previously unimaginable. Now, as we find ourselves at the beginning of what looks to be the “Roaring 20s,” we are again at the dawn of a new era. For the past decade, companies old and new have been laying the foundations for the next generation of the Internet. From blockchain to artificial intelligence, humanity is about to enter the next stage in the evolution of the World Wide Web.
But First – What is Web 3.0, and How Did We Get Here?
In the beginning, there was only Web 1.0. It was the initial iteration of the web when web pages were static and users were not able to actively interact with each other through the Internet. Restricted by what it could do, Web 1.0 users were limited to reading HTML webpages – mainly consisting of news articles or other non-interactive content.
In the late 1990s, a new iteration of the internet began to take shape, one which would allow individuals to participate in a more interactive web. The birth of this social web, which eventually gave rise to Web 2.0 corporate juggernauts like Facebook, Twitter, and YouTube, increased emphasis on user-generated content and interoperability between sites and applications. With this rise, new businesses and business models were born – from social networking to mobile apps, Web 2.0 had introduced new income streams that were not possible in the days of Web 1.0.
Now, after more than two decades of existence, an even more powerful version of the Internet looks to take over.
While a clear definition of Web 3.0 has yet to be written (it has, after all, not fully arrived), there are characteristics that the public typically agrees on. Generally speaking, Web 3 features include a semantic web, artificial intelligence, 3D graphics, and ubiquity. Web 3 will also be decentralized – eliminating middle parties everywhere and enabling the ability for trustless, secure P2P transactions across the globe. Such capabilities will be a boon for the increasingly growing Creator Economy, as participants around the world will be able to securely transact across the web without the need of an intermediary third party.
Web 3, the Blockchain, and the Decentralized Web
Artificial Intelligence and 3D graphics aside, blockchain and its underlying technologies are the driving force behind the next generation of the World Wide Web. For the first time in the history of the Internet, Web 3 provides a democratic and user-centric platform with no central point of control. While Web 2.0 allowed for the sharing of information across borders, this information was often managed by centralized third parties. In the world of Web 3.0, users will be able to interact with each other without interference from these middlemen, enabling information to be shared freely whilst reducing the risk of censorship from governments and corporations.
What Does Web 3.0 Mean For You?
Behind cryptocurrencies (e.g. Bitcoin, Ether), are fully decentralized networks that are governed by their respective, underlying protocols. As adoption of these blockchains grows, via greater network usage, rise in decentralized apps (dApps), growth in decentralized finance (DeFi), and acceptance of Non-Fungible Tokens (NFTs), so too will the adoption of Web 3.0 and its technologies.
Helping build these protocols and their solutions is one of the most direct ways that an individual can get involved with this next iteration of the Web. In addition to directly buying cryptocurrencies, you can check out DeFi projects like Pancake Swap or Bakery Swap, which are decentralized exchanges (DEXes) that facilitate the swapping of tokens. Additionally, through these DeFi projects, individuals can stake their crypto tokens in liquidity pools to earn even more tokens as a result of their contributed liquidity and active use of their funds.
Since last year, crypto and first-time crypto users alike have also been interested in the world of NFTs, also known as non-fungible tokens. In fact, we just launched our own Binance NFT Marketplace in the past year, giving our users an opportunity to purchase and invest in digital arts that are not possible to be acquired in the Web 2.0 world.
Web 3.0 Is Coming. Will You Be Ready?
Humanity is at the cusp of another technological revolution. The arrival of Web 3.0 will not only be a transformative event for mankind but can also be a transformative event for your future wealth. Investors and builders who embrace the possibilities that this next-generation Internet can offer will find themselves in an advantageous position once the world begins to adopt all of the advantages which Web 3.0 has to offer.
Direct investment in blockchain protocols, through crypto, are a good place to start – especially on Binance, where we offer a complete suite of financial products and a robust fiat gateway into the crypto world. Other Web 3.0 products, like those offered through DeFi, DApps, or NFTs, are also other key areas for individuals to focus on.
During the summer of 2013, 1 BTC traded for less than $100. Eight years later, 1 BTC is now valued at more than $30,000 USD. Bitcoin and the many other protocols that it has inspired have the potential to permanently alter the entire digital landscape as we know it. As the value proposition and the number of use cases for the blockchain and Web 3.0 rise, it has never been a more critical time to start learning, understanding, researching and investing in the evolution of the World Wide Web.
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Disclaimer: Cryptocurrency investment is subject to high market risk. Binance is not responsible for any of your trading losses. The opinions and statements made above should not be considered financial advice.
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