Web3, however being the topic of every tech person’s interest, is still an alien concept to many. From Silicon Valley to other big and small business hubs of this world, web3 has caught everyone’s attention. Let’s first break down what web3 is. Web3 is the next generation of the internet where control is in the hands of the masses, whereas it is controlled by a handful of organizations in web2.

Web3 is bringing a way for data to be more secure and prevent breaches of any kind from happening. Basically, web3 is the decentralized form of the internet. Centralized servers will be replaced with information present on multiple computing devices, making it difficult for any hacker to breach any data.

Web3 aims to become an open-source internet and decrease the dependencies over centralized platforms. As every computer on its network will act as a part of its server, web3 will never face server failures or any such issues. Crypto platforms are a key part to bring the revolution in web3. The team at ashutec has the necessary experience and skills to develop the most advanced crypto trading and exchange platforms.

Now that we are clear on the basics, let’s dive deep into web3 and crypto platforms in web3.

Evolution of the Web

To understand web3 in a better manner, we need to be clear on the evolution of the world wide web. Web1 was the earliest form of the internet where we could only access static web pages, and read the information there and weren’t able to interact in any manner.

Then came web2 allowing more involvement of users than just viewing web pages, where they could also interact with them. Web2 is what we are most familiar with and are mostly using right now. The transition of any kind is difficult and now that everyone has got so much fond of using web2, the shift from web2 to web3 will certainly take some time.

Shortcomings of Web2:

• Majorly controlled by big tech giants
• Data is unsafe as it is stored in one place
• Everything is centralized
• If the centralized server gets down, the whole network is disrupted
• Lack of transparency

This is where Web3 steps in. It solves all these problems and more as it is based on blockchain. And due to that fact, data here is more secure and decentralized. Everything is done in a transparent manner, and every computer on the network acts as a node for its server. So, now we have talked about how web3 is the internet of the future, let’s discuss the impact crypto platforms will have in web3.

What are Crypto Platforms?

The popularity Web3 has gained is mostly thanks to dApps being developed to work on it. Ever since cryptocurrency’s rise, different kinds of crypto platforms have been introduced every day. Different kinds of Crypto Platforms include, Centralized Crypto Exchanges, Decentralized Crypto Exchanges, Crypto Staking Platforms, NFT marketplaces, and the list goes on and on.

Having developed a crypto trading and exchange platform for a Nasdaq listed company, ashutec has a team of experienced and skilled professionals to build you your next web3 project.

Several crypto platforms have already started to be in a more decentralized format. As web3 is the internet of the decentralized world, it only makes sense for every platform wanting to be decentralized, to be on web3.

Crypto-related Platforms will surely also benefit from Web3 more as they will have the first comer advantage when web3’s mass adoption takes place. The transition of centralized companies into a decentralized format might take a while and also will surely be complicated. This won’t be the case with maximum Crypto Platforms.

Any technological massive change brings with it loads of opportunities, it is the same with web3. Web3 has a lot of potential and will surely improve people’s way of interacting with the internet.

Crypto and Web3, both share the same motive of achieving more decentralization in this monopolistic world. Hence, Crypto Platforms will definitely take precedence in web3.

Future of Web3

After discussing this much in-depth, we know web3 is not just a marketing phrase and is a revolutionary tech. Web3 properly incentivizes its users and creators for their contributions.

Hence, it will improve the condition of the creators’ economy and will incentivize them as per their contributions. Web3’s introduction will change how search engine optimization works. Here, the content will be ranked on the basis of entities and not keywords.

Crypto should not just be about investing, trading and staking, it will have a larger role to play in web3. Decentralized apps (or dApps) surely will also benefit from this decentralized ecosystem of the internet.

Some people believe web3 is nothing more than just a buzzword but this decentralized internet is showing so many possibilities of improvements to the internet than what we have now. In this new era of the internet, navigating the web no longer means logging onto the likes of Facebook, Google, or Twitter, you will just have to login through your digital signature on the blockchain.

Conclusion

Web3 is a very new technology like any other technology based on blockchain. It is tough to predetermine its possible growth in the future. We have no way of knowing where web3 will take us or if decentralization is even possible or not. Where there is so much support and enthusiasm for web3, there also are disbeliefs.

VCs and big companies have started taking interest in web3, people are worried if web3 will also somehow end up being centralized. But as things stand now, web3 has great potential to technologically advance several things. Even in the space of web3, only a handful have clarity about the technology and idea behind it, now you are one of that handful.