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Qudsia Ali

Web3 is everywhere... But do you know what actually it is?

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Everyone is discussing Web3.0, and some are even launching their products related to Web3. I understand the Web1/Web2 concept, but Web3 isn't being presented to me properly, and I have the impression it's just a marketing term people are taking advantage of.

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Danny Williams
Here's the shorthand version for how to classify projects as either web 3.0 or web3. Web 3.0 is an extension of the browser-based internet you are used to, also referred to as the "Semantic Web". "The Semantic Web is the knowledge graph formed by combining connected, Linked Data with intelligent content to facilitate machine understanding and processing of content, metadata, and other information objects at scale." Web3 is based on the blockchain and has been described as having a "hazy" meaning because it is currently being built and defined by decentralized applications and companies. Think Meta, think earning cryptocurrency by playing games, think NFTs and more. This is a good read from Harvard Business Review: https://hbr.org/2022/05/what-is-... Hope this helps shed some light on the differences between them. One last note, is that I have heard people conflate the two in conversation because they both deal with data and can solve the same problems. I tend to ask in these circumstances (seeking clarity) what platform is the solution being built on top of & where will customers engage with the solution. The answer to those two questions will help you to sort if it is web 3.0, web3, or some combination thereof.
G. M. Mehdi
Web 3 is web2 powered by blockchain technology. The inclusion of blockchain and to what extent is subjective so marketing folks and startups are definitely taking advantage of it.
Qudsia Ali
@g_m_mehdi But how are marketing folks getting the advantage from web3?
G. M. Mehdi
@qudsia_ali simply because it's the new shiny object - new kid on the block, so it gets more attention then your usual products and services. Marketers take advantage by packaging their old offers the new way to attract the crowd which would otherwise not pay any attention. People also take advantage of folks who are not well educated in the Web3 domain and sell the same snake oil with a web3 packaging.
Hina Ashfaq
Web3 as it is now described is little more than marketing jargon used to further the bitcoin pyramid scam.