This is a comprehensive guide on how to migrate from Web2 to Web3 and how you can start your Web3 journey in 2023.
In this article you’ll learn:
The difference between Web2 and Web3
Key features of Web3 adoption
Why and How to Transition from Web2 to Web3
Content
Web2 vs Web3
To start with let’s see briefly how Web2 is different from Web3.
Web2 is the internet everyone knows about it, the kind of internet in which companies exchange services for users’ personal information, like social media platforms or any other platform that requires personal info to access it.
Web3 is the decentralized version of the internet, it allows users to access dApp without the need of sharing sensitive data, like a cross-chain swap that requires only a Web3 wallet.
The adoption of Web3 is still at an early stage, but the benefits are very clear and known by all users.
Web3 Features
Key features of Web3 applications are:
Decentralization of Data and governance - decentralization is the most important concept of Web3, blockchains are governed by the communities via decentralized governance.
Self-custody of data and funds - Every Web3 user maintains the custody of its assets and data.
Permission-less environments - There is no centralized entity that gives permissions to users, everyone can access and contribute.
Private keys for authentication
Web3 Limitations
As Web2 has a lot of issues with users' data and security, also Web3 comes with some limitations.
User Experience - accessing and interacting with Web3 dApps can be tough and not so intuitive, this represents a big wall for large adoption.
Costs - Developing and using an application can be very expensive on layer 1 blockchain, as it is right now on Ethereum.
Ease of access - platforms’ accessibility is still at an early stage.
Finding a solution for one or more of these limitations can increase the scalability of blockchains and pave the way for mass adoption.
3 Steps to Transition into Web3
Going from Web2 to Web3, whether you are a developer or a business, can offer many benefits in terms of privacy, security, and decentralization.
By reading the following list you will understand if Web3 is the solution you’re looking for.
Why transition to Web3?
The transition to Web3 can unlock features that would be impossible to achieve on a Web2 structure.
If you are seeking one or more of the following features for your business, you should consider the opportunity to dive into Web3.
Decentralization
Web3 is based on the principles of decentralization, which means that data is stored on a decentralized network of computers rather than on a centralized server. This reduces the risk of censorship, data breaches, and other security issues.
Privacy
Web3 allows for greater privacy since users can maintain control over their data and decide who has access to it. This is achieved through the use of blockchain technology and other decentralized systems.
Security
Web3 is more secure than Web2 since it relies on advanced cryptographic algorithms and other security measures to protect data and prevent unauthorized access.
Tokenization
Web3 allows for the creation and use of digital tokens that can be used for a variety of purposes, such as payments, rewards, and governance.
Interoperability
Web3 is designed to be interoperable, which means that different applications and platforms can communicate with each other seamlessly.
This can lead to greater efficiency and innovation in a variety of industries.
Find your niche
Another important step to take on your road to Web3 adoption is to identify your niche, the area that aligns with your strength, interests, and goals.
Once you've identified your niche in Web3, you can begin to specialize in that area, develop your skills, and contribute to the growth and development of the ecosystem.
This will also enable you to collaborate with others who share your interests and expertise, building a network of like-minded individuals who can support and learn from each other.
To help you find your niche in Web3, consider exploring some of the following fields:
Decentralized finance (DeFi)
Decentralized finance, or DeFi, is a financial ecosystem built on blockchain technology that enables users to access financial services without relying on traditional banks or intermediaries.
DeFi platforms offer services such as lending, borrowing, trading, and investing in a decentralized manner. Examples of popular DeFi platforms include Aave, Compound, and MakerDAO.
Non-fungible tokens (NFTs)
Non-fungible tokens (NFTs) are unique digital assets that represent ownership or proof of authenticity for digital or physical items.
NFTs are created using blockchain technology, ensuring their uniqueness and scarcity. They have become popular in digital art, collectibles, and virtual goods. Popular NFT marketplaces include OpenSea, Rarible, and Foundation.
Decentralized autonomous organizations (DAOs)
Decentralized autonomous organizations, or DAOs, are organizations that are managed and governed by smart contracts and community consensus rather than a centralized authority.
DAOs enable decentralized decision-making, funding, and resource allocation, leading to more transparent and efficient organizational structures. Examples of DAOs include Aragon, MolochDAO, and Kyber Network.
Web3 infrastructure and tooling
Web3 infrastructure refers to the technologies and tools that underpin the decentralized web, including blockchain networks, decentralized storage, and communication protocols.
These tools enable developers to create decentralized applications (dApps) and services that leverage the benefits of Web3. Examples of Web3 infrastructure projects include Ethereum, IPFS, and Polkadot.
Interoperability and cross-chain solutions
Interoperability and cross-chain solutions aim to bridge the gap between different blockchain networks, allowing them to communicate and exchange value seamlessly.
This enables a more connected ecosystem and allows users to access a wide range of decentralized services without being locked into a single platform. Examples of cross-chain solutions include Cosmos, Chainlink, and Wanchain.
Gaming and Metaverse
Gaming and Metaverse in Web3 refer to the creation of decentralized virtual worlds, where users can interact, socialize, and engage in various activities such as gaming, trading, and owning virtual land.
These digital spaces are powered by blockchain technology, allowing for the creation and ownership of unique digital assets and experiences. Examples of Web3 gaming and Metaverse projects include Decentraland, The Sandbox, and Axie Infinity.
Social tokens and creator economies
Social tokens are digital tokens that represent the value of an individual, brand, or community. They can be used for various purposes, such as rewarding loyal followers, enabling access to exclusive content or events, and allowing holders to participate in governance decisions.
The creator economy refers to the growing ecosystem of content creators, influencers, and artists who leverage Web3 technologies to monetize their work and engage with their audience. Examples of social token platforms include Rally, Roll, and Zora.
Artificial intelligence
Artificial intelligence (AI) in the context of Web3 refers to the integration of AI technologies with decentralized systems, such as blockchain and decentralized storage.
This can lead to new possibilities in decentralized decision-making, data analysis, and automation within the Web3 ecosystem. Examples of projects that explore the intersection of AI and Web3 include SingularityNET, Ocean Protocol, and Fetch.ai.
Once you have found your niche, you can focus your learning, networking, and experimentation on the area, and gradually expand your expertise and influence.
Try out some Web3 applications
In addition to exploring different fields of Web3, another step to get started is by trying out some Web3 applications.
There are many platforms and tools available that can help you get a better understanding of how Web3 works, and allow you to interact with decentralized applications and protocols.
Some popular options include decentralized exchanges like Uniswap or Sushiswap, decentralized marketplaces like OpenSea, Web3 wallets like MetaMask or Gnosis Safe, and cross-chain exchanges like CryptoYou.
By trying out these applications, you can get a hands-on feel for how Web3 operates, and begin to understand the benefits and challenges of a decentralized ecosystem.
How Yanda can help you with the transition to Web3
Our protocol makes your transition from Web 2.0 to Web 3.0 fast and cost-effective without writing any code.
You can enhance the transparency and compliance of your business, expand your market reach, and simplify your validation process with ready-to-use validators, so you can focus on growth.
Conclusion
With the Web3 industry constantly expanding, it's an exciting time to explore the many fields of decentralized technology and discover where your skills and interests can make the most impact.
By specializing in a particular area and getting hands-on experience with Web3 applications, you can contribute to the growth and development of the ecosystem, and become a part of a global community that is pushing the boundaries of what's possible in the digital age.
