What Does Web 3 Really Mean? (Web 3 Explained)

The internet has gone through different stages of development over the years, and these stages are often grouped into four categories: Web 1.0, Web 2.0, Web 3.0, and Web 4.0. 

Each version represents a major change in how people use and interact with the internet. Lets break it down.

What is Web 1.0?

Web 1.0, often called the "Read-Only Web", was the earliest version of the internet. It existed mainly in the 1990s and early 2000s.

How It Worked:

Web 1.0 was a place where you could only read information. Websites were simple, like online noticeboards. They had text, images, and maybe some links, but there wasn’t much you could do except read or look at what was posted. You couldn’t leave comments, upload pictures, or interact with others.

What It Looked Like?

Web 1.0 sites were static, meaning they didn’t change often. If someone wanted to update a page, they had to manually write new code for it. Websites weren’t very user-friendly, and there were no search engines as we know them today.

PHOTO BY EDELCOIN

Examples

• Early news websites.
• Online encyclopedias like Britannica.
• Personal pages with basic information about a person or business.

Limitations

• No interaction between users.
• Information only flowed in one direction: from website creators to visitors.

What is Web 2.0?

Web 2.0 is known as the "Interactive Web" or the "Social Web." It started becoming popular in the early 2000s and is the version of the internet most people are familiar with today.

How It Works:

With Web 2.0, people could do more than just read. They could create, upload, and share content. For example, you could post videos, write comments, or share photos with friends. This made the internet a lot more engaging and social.

Features of Web 2.0

• Websites became dynamic, meaning they could change without needing manual updates.
• Users could interact with each other through social media, blogs, forums, and more.
• Centralized platforms (like Facebook, YouTube, and Twitter) became the main hubs where people gathered online.

Examples:

PHOTO BY EDELCOIN

• Social media platforms like Facebook, Instagram, and Twitter.
• Video-sharing sites like YouTube.
• E-commerce platforms like Amazon and eBay.

How Companies Made Money:

Web 2.0 companies make money by collecting user data and showing targeted ads. For example, when you search for shoes, you might start seeing ads for shoes everywhere online. This is because these companies track your activity to sell advertising space.

What is Web 3.0?

Web 3.0, also called the "Decentralized Web", is the next phase of the internet. It is still developing but is already gaining traction thanks to technologies like blockchain and cryptocurrency.

How It Works:

Web 3.0 gives control back to the users. Instead of big companies owning platforms and collecting your data, Web 3.0 uses blockchain technology to create decentralized systems. This means no single person or company owns the system; it’s shared across many computers.

Key Features of Web 3.0:

• Decentralization: Data is not stored in one place. Instead, it is spread across a network of computers.
• User Ownership: Users own their data, accounts, and digital assets. For example, in Web 3.0, your cryptocurrency wallet belongs only to you, not to a company.
• Smart Contracts: These are self-executing agreements written in code, used in decentralized apps (DApps) for trading, lending, gaming, and more.

Examples:

• Blockchain networks like Ethereum, Solana, and Bitcoin.
• Decentralized exchanges (DEXs) like Uniswap and PancakeSwap.
• Non-fungible tokens (NFTs) and platforms like OpenSea.
• Decentralized finance (DeFi) apps like Aave and Compound.

Why It’s Popular:

Web 3.0 allows people to trade cryptocurrencies, buy NFTs, and use decentralized apps without needing a middleman, like a bank or a big tech company.

What is Web 4.0?

Web 4.0, often called the "Intelligent Web", is the future of the internet. It is still more of a concept than reality, but it is expected to combine advanced technologies like artificial intelligence (AI) and the Internet of Things (IoT).

How It Will Work:

Web 4.0 aims to make the internet smarter and more intuitive. It will connect humans and machines in ways that make daily tasks easier. For example, your fridge could automatically order groceries when supplies run low, or your car could schedule its maintenance.

Predicted Features:

• AI-driven platforms that learn your habits and preferences.
• Devices (like phones, cars, and home appliances) that communicate with each other seamlessly.
• Highly personalized user experiences.

Examples:

Think of AI assistants like Siri or Alexa, but much smarter, or homes that completely run themselves.

How Do Memecoins and Crypto Trading Fit In?

Trading Memecoins

This is directly related to Web 3.0. Memecoins like $DOGE, $SHIB, and $PEPE are cryptocurrencies built on blockchain networks (e.g., Ethereum or Binance Smart Chain). They are often traded on decentralized platforms, which are key features of Web 3.0.

Example: 

Buying $SHIB on Uniswap using your crypto wallet without needing a bank or centralized exchange.

Trading Futures, Derivatives, and Spot Trades:

Centralized Trading (Web 2.0): Platforms like Binance and Coinbase allow futures, derivatives, and spot trading but are centralized, meaning they belong to companies.

Decentralized Trading (Web 3.0): Platforms like dYdX and GMX use blockchain technology for futures and spot trading. These platforms operate without intermediaries, making them part of Web 3.0.

Conclusion

The internet has evolved from being a static library (Web 1.0) to an interactive community (Web 2.0), and now it’s moving toward decentralization and user ownership (Web 3.0). Trading memecoins, futures, and spot trades bridges Web 2.0 and Web 3.0. However, as Web 4.0 develops, it could bring even smarter and more automated ways to trade and interact online.

Understanding these stages helps us see where the internet is going and how we can make the most of it!