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Gate.io Blog How Most Web2 Companies Are Adopting The Web3 Technology

How Most Web2 Companies Are Adopting The Web3 Technology

20 April 17:02



The history of the internet began with Web1 in the 90s.

In 2000, the Web2 era was ushered in and was characterized by the “dot.com” bubble.

The Web2 version of the internet allows you to interact with the computer and other users at different ends.

Web3 technology is gradually taking over the online space.

Decentralized protocols solely power the web3 version of the internet.

Some big brands in Web2 that were controlling the market are now looking to become stakeholders in Web3.

Some of these Web2 companies exploring opportunities in Web3 are Twitter and YouTube.

The journey of the internet is continuous, and it continues to evolve from accessing information online to interacting with computers and other users.

Today, the technology behind the internet is advanced and intelligent. There is no limit to what you can achieve via the internet.

In this article, we shall examine the evolution of the internet from Web1 to Web 2 and the activities surrounding Web3.

Let's dig in!


How Web1 Ushered In Web2


The history of the internet dates back to the 1990s, and this period had what experts call "static web page" internet.

In the early days of internet usage, there was limited access to the information you could consume on the internet. The popular web pages then were Britannica Online and Yahoo.

These web pages were run by infrastructural languages that include URI and HTML. This period was referred to as Web1.

Having spent its time and given the few privileged people how the internet works, Web1 ushered in Web2, and in 2000, Web2 came in with the “dot.com” bubble.

The introduction of the Web2 version of the internet was gradual; it took a while to get a full glimpse of the future of the internet.

While Web1 focused on information transmission, the upgraded Web2 focused on interaction. It was full of advanced features and was characterized by continuous upgrades.

The internet version of Web2 became an eye-opener for bright minds and was powered by infrastructures that include Java_script_, CSS3, and HTML.

While Web1 users were mainly online consumers of information, the Web2 version allowed internet users to interact and produce their online products. Today, a more significant number of internet users are still enjoying the full momentum of Web2.

However, tech giants, blockchain developers, software developers, and enthusiasts are gradually moving into the future of the internet; Web3.

At this juncture, we shall identify what the Web3 version of the internet entails and what internet users should expect.


Web3; The Future Of The Internet


Web3 is gradually taking over the internet. It takes a while for internet users to adapt to innovations fully. However, there is a rapid embrace of the Web3 version of the internet across all sectors.

The tech space has continued to witness the launch of several products and services that fully integrate Web3 technology.

Big brands, social network platforms, business organizations, and industry giants are also forming consortiums and partnerships to actualize the full potential of Web3 technology.

You may now wonder what this widely embraced and highly intelligent version of the internet entails.

While the Web2 version of the internet is centralized and run by server-client agreement, the Web3 Version is designed to work with distributed ledgers. Web3 is an internet arrangement that is solely powered by decentralized protocols.

In Web3, data processing and interaction online are decentralized, and data is stored and scattered across decentralized computer networks.

The blockchain network, Nonfungible tokens (NFT), and Decentralized Autonomous Organization (DAO) are some of the main products and services of Web3.

Having examined in detail what Web3 entails, we shall now identify how some web2 companies are adopting Web3 technology.


How Web2 Companies Are Adopting Web3


Web3 technology is growing at an exponential rate. Big brands and organizations that had the monopoly and were controlling the market in Web2 are now trooping into the future of the internet.

While some of these brands and tech companies are already launching their platforms to integrate Web3 fully, some have their plans underway.

Many of these Web2 companies are either building startups, funding a startup by another developer, or forming a partnership to ensure they become stakeholders in Web3.

Let's look at some of these Web2 companies and how they are adopting Web3.

Twitter
Twitter is a popular social networking platform founded in 2006 by Jack Dorsey, Noah Glass, Biz Stone, and Evan Williams.

This social networking site has over 330 million (monthly) active subscribers.

To embrace Web3, Twitter now has a verification feature to allow NFT creators and holders to claim their NFT profile picture.

In addition, you can now link your NFT collection directly to your Twitter page. When interested buyers click the link, they get redirected to the marketplace and can purchase your collections with ease.

YouTube
YouTube is another prominent Web2 platform that allows creators to make and post their video content on its page.

YouTube was founded in 2005 by Steve Chen, Chad Hurley, and Jawed Karim. Google currently owns YouTube.

There are plans by YouTube to collaborate with Metaverse technology. The integration of Web3 is expected to help YouTube creators make more money in ways that were previously not possible.

As creators of YouTube content, you can mint your videos, especially the unique and popular ones, make them available on NFT marketplaces, and open bids for your fans to own them.

By making the videos available, your fans can purchase them, and YouTube will provide them with verifiable means to own these contents.


Conclusion


Web3 technology is a continuous innovation that allows every developer to actualize their ideas and plans. There are numerous opportunities for tech enthusiasts and developers in Web3.

While the Web2 version of the internet will continue to control the tech space, it is expected that more companies that had a monopoly on Web2 will fully embrace Web3.

There are plans and strategies by organizations and developers across all sectors to become stakeholders in the future of the internet. As time goes on, there are expectations that we will continue to see more innovations and launches.



Author: Valentine A., Gate.io Researcher
This article represents only the researcher's views and does not constitute any investment suggestions.
Gate.io reserves all rights to this article. Reposting of the article will be permitted, provided Gate.io is referenced. In all cases, legal action will be taken due to copyright infringement.
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