Exploring the Great Migration of the Internet from Web2 to Web3

It's been nearly three decades since the web was created. It began with static images and text. Web2 followed, which led to the current Internet. Now we are nearing the start of web3, which envisions data flowing seamlessly via a decentralized platform on which the ownership and control are distributed. Web3 lets peer-to-peer interactions be performed without intermediaries or centralized platforms. It is based on the technology stack built around blockchains that are not centralized. Coins and cryptocurrencies are the basis of the economy and the business strategies of Web3.

Web3 is expected to be the market of choice for companies across all industries and will be an important player by 2022. It is based on the idea of blockchain technology, edge computing crypto NFTs, cryptocurrencies, and virtual reality. Web3 technology has experienced an increase in its popularity as more companies try to integrate their products into the new space. Recent Google search trends show that web3 interest has increased by 33% over the last couple of months, which indicates that companies are keener on moving from the web2 space to the web3 space. Additionally, the migrate a Web2 Application to Web3> represents a shift from a design-centric approach to a more user-centric approach to decentralization.

What is web3?

The principle motive for Web3 is to create an open, decentralized network that provides new functionality and benefits the users and the developers, unlike Web2, where the centralized platform providers hold all the advantages. It's the next version of the Internet that promises to spread the benefits of the Internet to all without the need for a central organization. It is expected to be accessible to all. A few of our users who conduct transactions and online interactions will likely change. For instance, instead of peer-to-a middle-level organization, the new model will be peer-to-peer and peer-to-contract in lieu. It lets users control the development of a particular product or content piece by giving them governance rights and voting rights.

Our present data, content, and social interactions take on a user-controlled monetization strategy. In light of this concept, incentive gaming, token economies, and gratification or rewards are becoming increasingly crucial for creators, users, and product managers.

Uncentralized Contrary to web2, in which central entities manage and control the Internet, web3 permits ownership to be shared among its users and developers.

Permissionless Everybody can access web3 in the same way, and everyone is included.

Native payments Web3 uses native payments Web3 utilizes cryptocurrencies to pay and pay online without relying on the outdated infrastructure of payment processors and banks.

The trustless use incentive mechanisms and financial systems to function instead of relying on trusted third parties.

What is web2?

Web2 represents the latest generation on the World Wide Web, also called"the "read/write "web. Web2 is a transition to interactivity and compatibility with these features:

• User-generated content
• Transparency in data as well as integrations
• It is just a website, not an actual network
• software as a Service (SaaS) using API technology for implementation

Through this reframed web, people can chat in real-time with servers, leave comments, change web pages, and converse with other internet users. These are some of the technological advances that have brought about these revolutionary transformations:

• JavaScript
• Ajax
• Adobe Flash
• RSS
• Microsoft Silverlight

The logic to be considered when transitioning from web2 to Web3

When migrating an application of web2 into web3, these aspects must be taken into consideration:

Data storage method

Peer-to-peer solutions could be used in web3 technology stacks just like we do with databases in the traditional stack. In web3, we employ blockchain technology, where data is replicated over several nodes within an uncentralized, reliable network. Blockchain technology isn't identical to the database. It can store some information; however, it's mostly transactional metadata. Additionally, web3 applications differ from Web2 because they use distinct data structures. Web3 applications utilize the user-centric model for data storage. This model stores applications' data in a distributed network and lets users access it. Applications can also write queries and read data to the client side of data. This differs from web2 applications, which are application-specific and keep all the data related to the application on one server.

The development of web3 data applications is, therefore, only possible by making use of a few fundamental elements:

• Network for speedy data availability and flexibility via an uncentralized network.
• Protocol for data storage using a model-based approach, based on identity.
• Client for performing operations on users' stores during runtime.
• Also, web2 to web3 data migration

• Need to move from a simple method of data storage into a decentralized(using Blockchain) method of storage for data.
• On web3, data ownership is always the responsibility of the user, not centralized storage of data, where the user's information is used to gain personal profit.
• Data cannot be altered or deleted, so the protection and security of the data are maintained.
• Instead of making API/network calls to transmit or receive data, you'll have to access blockchain data with blockchain-based smart contracts.

Wallet/Payment migration

In the web2 transition to web3 migration, users have to switch from a basic payment gateway to a crypto wallet because web3 uses decentralized currency. Web3 wallets offer access to numerous blockchain-based crypto apps, including Decentralized Financial (Defi) and gaming and non-fungible tokens. The applications are accessible through a desktop browser. In this instance, most processes run in the background, and the browser will inform users of any sharing activities. Metamask is among the most popular web3 wallets and is a well-known option.

Users can also use third-party wallets' APIs and wallets according to their needs. Because web3 transactions are made using cryptocurrency, the purchase and sell flow in the application will differ from web2. In web2, the central authority, such as banks, oversees buying and selling transactions. However, in web3, the transaction is done in a distributed manner. If a user wishes to look up the transaction's list or the history of transactions, they have to retrieve this information from the Blockchain .

What's next for Web3?

With numerous applications in the real world that utilize blockchain technology, specifically for Ethereum , it's clear that the future of Web3 isn't merely a dream. Unfortunately, the Internet, the global economy, and governments haven't yet fully realized the potential of Web3. However, in the year 2019, Web3's paradigm-shifting is moving forward. With significant progress in tackling the technical issues mentioned above using innovative solutions, the concept of Web3 as a real rival to Web2 is becoming a reality.