Every technology goes through generational cycles, including the internet. When a critical threshold of upgrades is crossed, it marks the beginning of a new generation. This moment, and its significance for the marketplace, can prove confusing. By Rahul Nambiampurath.
The article does excellent job explaining:
- How does web3 work?
- Web3 examples
- Web3 apps to replace web2 tech
Just as different programming stacks defined Web1 and Web2, a new software stack defines Web3 to make decentralized internet happen. Web3 is in many ways a continuation of Web2 in terms of interactivity, but at the bottom of the stack is a blockchain protocol. Smart contracts are embedded into each data block. Because they chain together, smart contracts are immutable, which is also what makes both NFTs and cryptocurrencies so valuable. Good read!
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