Does Web3 and Web0 Mean the Same?

1. General Concept vs Specific Vision

• Web3: The third generation of the Internet, characterized by decentralization, implementation of the blockchain system, and users’ data ownership.
• Web 3.0: Known as the Semantic Web, is part of the future incarnation of the internet in which the improved data is transformed into AI and ML formats to become more intelligent and easily understandable by machines.

2. Differentiation

• Web3: Stresses decentralization as well as minimization of trust requirements and the integration of native crypto-assets.
• Web 3.0: Specifically, it deals with semantic interpretation, increasing artificial intelligence, and increasing the compatibility of data.

3. Introduction and Development

• Web3: As discussed earlier and initialised by the Ethereum founder Gavin Wood, it is based on the blockchain technology.
• Web 3.0: Started by Tim Berners-Lee the founder of the World Wide Web to bring innovation to a smarter and connected web.

4. Core Technologies

• Web3: They include; Blockchain, smart contracts, and crypto currencies.
• Web 3.0: Artificial intelligence, big data and data mining, and semantic web.

5. Primary Goals

• Web3: Establish a world wide web that is decentralized and mainly governed by the user.
• Web 3.0: Create a new generation of Internet that is intelligent enough to process information as well as to analyze it.

6. Economic Models

• Web3: Utilizes token-based economies.
• Web 3.0: Led by services and information.

The development of the World Wide Web has set certain milestones that have changed people’s experience of using information networks. At the moment, two terms are mainly used: Web3 and Web3.0, they are becoming important when it comes to debating the future of the internet. As much as both of them have a similar name, they are two different concepts and approaches. The purpose of this article is to show the differentiation between Web3 and Web3.0, to know about them and their classification as well as their functions.