Web 1.0 refers to the first stage of the World Wide Web evolution, where the huge majority of users were consumers of content. Web 2.0 refers to the World Wide Web which highlights user-generated content. Leading the way for Web 3.0, generally, are those involved in blockchain smart-contract platforms such as Ethereum, Bitcoin, Solona, Icon, EOS one of the largest blockchain-based operating systems in the world.

The major innovation of Web 3.0 networks is the creation of platforms that are decentralised: no single entity controls them, but, in theory, everyone can still trust them. As Web 3.0 networks will operate through decentralised protocols — the founding blocks of blockchain and cryptocurrency technology — we can expect to see a strong convergence and symbiotic relationship between these three technologies and other fields.

They will be interoperable, seamlessly integrated, automated through smart contracts and used to power anything from micro transactions in Africa, censorship-resistant P2P data file storage and sharing with applications like Filecoin, to completely changing every company’s conduct and operation of their business. The current slew of Defi protocols is just the tip of the iceberg.