Web 1.0 - History, Web 3.0 - Mystery & Web 2.0...

Sep 22, 2022

In the previous blog post about Web 3.0, we outlined what Web 3.0 is and how it differs from Web 2.0 & Web 1.0. In this article, we'll examine why Web 3.0 is still a mystery, how Web 1.0 became history, and whether it would be possible to completely abandon Web 2.0?

The answer to the above question can be found in the evolution of the Web.

Let’s understand what part of the Web has actually evolved:

A Web constitutes of the following 5 layers:

These layers have evolved with the Web: 

Layer

Layer Identity 

Web 2.0 

Web 3.0

1

Hosting Network Infrastructure

Central Network is supported by proprietary owned servers of the central host that validate and store information

Blockchain is supported by decentralized network of independent nodes that work together to validate and store information

2

Hosting Network 

Centralized Networks

Decentralized Networks (Blockchain)

3

Bridge 

Infrastructure that makes it possible for the Application and the Hosting Network to communicate smoothly

4

Application Infrastructure 

The infrastructure on the backend that enables the user application’s operations

5

Application UI/UX

The first point of contact between the user and the application


With the help of the above table, it is evident how the Web hosting network has evolved from being centralized in Web 2.0 and being decentralized in Web 3.0, even though the user experience has remained the same.

To understand the evolution made by the Web so far, we'll use the product life cycle, which has the following 4 stages: 



1

Introduction

The stage where the product is introduced to the users for the first time.

2

Growth

The stage where the demand rises and production increases. 

3

Retention

The most profitable stage, the customer acquisition cost declines and the profits peak.

4

Decline

The stage where the competition increases and better alternatives appear leading to higher customer acquisition costs and lower profits.


The following diagram illustrates how Web 1.0, 2.0, and 3.0 fit into the product life cycle.



Let’s do a deep dive here


Web 1.0 was replaced by better alternatives (Web 2.0) due to its inefficiencies and limitations. 

Web 2.0 has expanded rapidly during the past 2 decades . But as the biggest Web 2.0 companies have begun to consolidate, the expansion appears to have reached its peak. Due to the intense competition that is entering the market every day as a result of technological advancements, alternatives are now able to provide better products at lower costs and in a short span of time. 

Web 3.0 is in the introduction and growth stage, with many of its potential still being unwaraped. 



What it looks like !!!

Although it is too soon to say whether Web 3.0 applications will flourish in a similar manner as Web 2.0 applications, given how quickly these Web 3.0 applications are being adopted, their future appears promising. Web 3.0 applications, some of which are listed below, are already posing competition to Web 2.0 applications for market share.

Use Case

Web 3.0

Web 2.0

Video Calling

Experty.io

Skype, Zoom & Meet

Browser

Brave

Chrome, Safari & Opera

Storage 

Filecoin, Storj & Siacon

Google Drive & OneDrive


Due to their more advanced stage and validated user experience, Web 2.0 applications continue to be the favorites of the Consumers. 

In the meantime, for the Investors, Web 3.0 applications represent a stronger prospect because of their untapped growth potential. 


Interesting times ahead !!!

(Insights from Karan Gupta and Brijesh Damodaran)

Author(s) :
Kanuj Jadwani