How can Web 3.0 disrupt traditional Web 2.0 social media platforms?

DY2P...EAtU
4 Dec 2023
110

The first and foremost way to understand this is by knowing what web 3.0 is and what web 2.0.

Web 2.0, which emerged in the early 2000s, is often associated with the rise of social media platforms, user-generated content, and the interactive web. In the Web 2.0 era, websites became dynamic, allowing users to interact, share content, and collaborate online. Examples of Web 2.0 social platforms include Facebook, YouTube, Twitter, Instagram, and LinkedIn.
These platforms rely on user-generated content and have played a significant role in how people communicate, access information, and entertain themselves. However, these platforms are centralized, meaning a single authority (the platform owner) controls the network, including user data.

Web 3.0, also known as the Semantic Web or the decentralized web, is the next generation of the internet that is currently being developed. It aims to create a web environment where data is linked, shared, and processed by machines, and where services and applications interact with each other seamlessly.
In the context of social media, Web 3.0 platforms are expected to be decentralized, giving users more control over their data and privacy. These platforms could use blockchain technology and cryptocurrencies for secure, transparent transactions and interactions, and could also offer more personalized and contextually relevant content through AI and machine learning. Examples of emerging Web 3.0 social platforms include Steemit, Minds, RepubliK, POP, BEOBLE and BULBapp, which reward users with cryptocurrency for their contributions.

The internet has undergone significant changes over the years, evolving from a static, information-based platform (Web 1.0) to a dynamic, interactive space (Web 2.0), and now towards a more decentralized, user-controlled environment (Web 3.0). This evolution has brought about significant shifts in how social media platforms operate, with Web 3.0 promising to disrupt the traditional Web 2.0 social media landscape.
Since I've explained what those two terms means, it's time to move on to know the difference between web 3.0 and web 2.0.

Centralization vs. Decentralization
One of the most significant differences between Web 2.0 and Web 3.0 social platforms is the shift from centralization to decentralization. Web 2.0 platforms, such as Facebook, Twitter, and Instagram, are controlled by a single authority, which manages user data, content, and platform rules. This centralized control has raised concerns about data privacy, security, and the potential for abuse of power.In contrast, Web 3.0 platforms aim to distribute control and ownership of data across a decentralized network of nodes, giving users more control over their information and reducing the influence of major tech companies. Decentralized platforms, such as BEOBLE and BULBapp, are built on blockchain technology, ensuring secure and transparent transactions while enabling users to maintain control over their data.

Data Ownership and Privacy
Web 2.0 social platforms have been criticized for their handling of user data, with many platforms collecting and monetizing user information without explicit consent. In a Web 3.0 environment, users would have greater control over their data and privacy, deciding what information to share, with whom, and under what conditions. This shift could lead to more secure and privacy-focused social media experiences, addressing growing concerns about data breaches and surveillance.


Tokenization and Incentivization
Web 3.0 platforms have the potential to introduce token-based economies, rewarding users for their contributions to the platform, such as creating content, sharing, or engaging with others. By utilizing blockchain technology and cryptocurrencies, these platforms can offer financial incentives for users to migrate from traditional Web 2.0 platforms. This tokenization could democratize the value generated by social media, giving users a more significant stake in the platforms they contribute to.
An example would be the BULBapp built on the SOLANA BLOCKCHAIN.
Web 2.0 apps like medium doesn't reward creators for their contents and outreach is limited unless you pay for a subscription.
BULBapp aims to make every content creator earn while doing what they do best. Reading others articles earns you points which is converted to its native token by the name $BULB.


Interoperability and Integration
Web 3.0 platforms are designed to be more interoperable, allowing users to seamlessly interact with various services and applications. This increased integration could lead to a more user-friendly experience across different social media platforms, reducing the dominance of any single platform and promoting a more diverse and interconnected online ecosystem.
In Web 2.0, integration is often complex and time-consuming. This is because Web 2.0 applications are often siloed, and their data is not always structured in a way that makes it easy to share.In Web 3.0, integration is expected to be much easier. This is because Web 3.0 applications are designed to be interoperable, and their data is structured in a way that makes it easy to share. Additionally, there are a number of new tools and technologies that are making it easier to integrate Web 3.0 applications.


Trust and Transparency
Blockchain technology, a cornerstone of Web 3.0, enables greater transparency and trust in online interactions. By providing a secure, tamper-proof record of transactions and interactions, blockchain can make it easier for users to verify the authenticity of content and reduce the spread of misinformation on social media platforms.
People often lie about making a transaction in reality and saying it gets stucked or they haven't received it. On web 3.0, the transaction hash can be used to trace whether the transaction is genuine or not so payment can be much easier.


Community Governance
Decentralized social media platforms could allow users to have a greater say in platform governance, including content moderation and platform rules. This could lead to more democratic and user-centric social media experiences, in contrast to the top-down decision-making of traditional Web 2.0 platforms.
In web 3, most Blockchain have their own tokens in which users who hold enough volumes can delegate and use to vote for any update that will be made on the Blockchain.
A typical example would be THE DEMOCRATIC VOTING SYSTEM OF GOVERNMENT in a country. Citizens of a country( in web 3.0, Users/ community) are given a right to vote for the leader they want( in web 3.0, users can delegate the governance tokens of a project and vote for changes which the projects administrator put forward). Examples of projects on web 3.0 with Thier governance tokens would be Ethereum - $ETH, Binance smart chain - $BNB, mantle - $MNT, Solana - $SOL and many more. Web 2.0 platforms only adhere to the choices of the owner i.e Facebook currently owned my MARK ZUCKERBERG, any changes on the platform is control mainly by him.

To further explain my claims on web 3.0 being better for web 2.0, I'd be using the centralised banking system(web 2.0) Vs the decentralized Blockchain(web 3.0).
Features of centralised banking system and decentralized Blockchain system is further explain below

The banking system Control is Centralized which means that it's controlled by a small group of entities while in Decentralized Blockchain,it is controlled by network participants.

∆in banking system, there is Limited transparency,subject to regulatory requirements while in decentralized Blockchains, there is Enhanced transparency, transactions and records are publicly visible


∆In banking system, there is Limited accessibility and may require intermediaries which in decentralized Blockchain, there is increased accessibility which means its open to anyone with an internet connection. Transaction hash of any public different wallets can be seen by anyone on the Blockchain explorer tabs.

In conclusion, Web 3.0 has the potential to revolutionize the social media landscape, offering users more control, privacy, and financial incentives while promoting interoperability and transparency. However, the transition from Web 2.0 to Web 3.0 will not happen overnight and will require significant technological advancements, widespread adoption, and a shift in user behavior and expectations. As these new technologies and platforms mature, they could pave the way for a more decentralized, user-centric, and privacy-focused era of social media.

Everyone has to work together to enlighten those who have zero ideas about web 3.0 and teach investors how to avoid scam on web 3.0, growing in web 3.0 while also lifting others is the only way web 3.0 will make it's ground. I hope you've been enlighten through this blog.






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16 Comments

B
HattyHats
I think the idea of Web3 is amazing and is going to change the digital world as we know it. Web3 is the future of content creation and social media that is for sure. Being able to earn from your first post shows people that earning from content is not just for the big-name social media creators. Anyone can earn and control their digital lives. The control of platforms such as Facebook is ending. Great read!
RCBEST
great article!
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