What the buzz is web3.0 Economy?

Web 3.0 is a Decentralized web and is powered by the Crypto Economy, hence the Fuel, Energy, or Native Currency for payment in the web3 economy are the Crypto-Currencies, and BlockChain Technology is the Hall Mark/Heart of All (Web3 and Crypto). Web 3.0 is a Shared Economy for both Creators and Users

To clearly understand web 3.0 Technology and the significant difference between web 3.0 and web 2.0 let's look at the Evolution of the Web Technology

Evolutions of the Web Technology

WEB 1.0 (Read-only Web, Information Age):
Web 1.0 is a Read-only web and brought about the information age. It's characterized by static websites. You don't chat, like, or comment it was basically for information, thus you can only access the information given to you but you can't Interact (write) with the information (It's just like a dumb platform and there was no opportunity for people to interact with those platforms). In the era of Web 1.0 (1991 to 2004) users on the internet were Consumers of content created by Content creators.

Web 1.0 experience is similar to the experience you have in a closed WhatsApp group, slack, or discord channels where only the admins are allowed to post updates.

WEB 2.0 (Read-write Web, Social Media platforms, Centralized Web):

Web 2.0 is a Centralized web powered by Users Data. Web 2.0 brought about the Interactivity of the web, thus we now have the opportunity to chat and interact with one another and give feedback. Your data are stored on social media networks. Web 2.0 gave us the opportunity to upload data, transfer data and retrieve it back when needed. Web 2.0 is more like a file storage system and a file transfer system, as It came with File storage (Users Data), file transfer, communication, live chats, and so on. Because of Users Data on web 2.0, Servers for data storage came on board. Your Conversation (Chats or comments) on web 2 is highly monitored and Censored by the owners of the platforms and they can delete your data or chats without your approval or ban you from using the platform without seeking your opinions (Just as in the case of Mr. President on Twitter)

But the major flaw in web2.0 is that all data is stored on a Centralized server, controlled by the companies, and in the event of a hack, your data will be lost or exposed. We can gladly say that what powers web 2 platforms like Facebook, Google, and Twitter and the rest are the User's data, if your data is not there, they are practically Powerless. With users' data in their servers, they are able to serve us better Content through Machine learning technology. This in turn would make us stay on their websites longer, therefore providing more ad revenue for these companies.

In web 2.0 "Users Are the Product". The problem of Centralized information on web 2.0 gave rise to web 3.0.

WEB 3.0 (Decentralized web): Web 3.0 is a Decentralized web powered by the crypto Economy and BlockChain Technology is the "Hall Mark". Web 3.0 is a Shared Economy for both Creators and Users. Since web 3.0 is powered by the Crypto Economy if people/s (Creators and Consumers/users) come to the web 3.0 Economy to Create/use values, they will be rewarded for the values they created/used in Crypto (ie you will be paid in crypto for the services you provide or used, instead of in dollars or naira). When you understand web 3, then you will understand that Crypto-Currency is a Powerful tool that will change the world...

The web 3.0 technology is made possible today by the innovative and revolutionary works of Satoshi Nakamotoon the Blockchain Network who gave us Bitcoin in 2009 and the works of Vitalik Buterin in 2015 that gave us Ethereum and made Smart Contract possible as an improvement to the previous work of Satoshi Nakamoto in Bitcoin.

Bitcoin is a digital currency that provides an alternative to fiat (Paper- Govt. issued currency) currencies. Bitcoin provides a permissionless currency that isn't regulated by any government or Central Bank. Yes, Bitcoin is the "Digital Gold"

Ethereum is a world Programmable computer that executes codes (Smart Contracts) in a decentralized manner. Yes, Ethereum was the first network that made Smart Contract possible for us. Ether is the digital native currency (Crypto) of the Ethereum Network.

Blockchain is a Global, Decentralized, and Distributed transactional database/ ledger that records the provenance of a digital asset. It is Highly Transparent, Secure, and Immutable.

Smart Contracts are the Building Blocks for Decentralized and Digital Free Markets and the Economy. Smart Contracts are coded transaction protocols that execute the terms of an agreement (contract) when the terms of the contract called Consensus are met. They run on the blockchain, are stored on Public database/s (Public Blockchain), and cannot be changed when deployed (Highly Immutable). They are self-enforceable, self-executing, legally binding (Code Law) digital representations of a traditional contract, designed to facilitate, transactions between parties

Major Difference between Web 3 and Web 2 Technology

I believe by now you have seen the major difference between web 3 and web 2 from their evolutions, however in Summary:

Web 2.0 is a Centralized web Powered by the Users Data, while Web 3.0 is a Decentralized web powered by the Blockchain and fuelled by Crypto.

Career Opportunities in the Web 3.0 Economy

These are some of the High demand and career opportunities in the Blockchain and web 3.0 Ecosystem.

• Blockchain Developers and Blockchain Software Developers
• Blockchain Technical writers
• Web Developer (Front-End Dev)
• Community Managers -Project Managers
• Graphics Designers
• UI/UX Designers
• Product Designers
• Content Creators/writers, Storytellers
• Marketers (Digital Marketers, Growth Markets)
• LawyerCrypto
• Researchers and Analysts
• 2D/3D Artist
• And More……