Catalyst: Transition from Web2 to Web3
The internet is evolving from Web2's centralized model, dominated by a few tech giants, to Web3's decentralized future. Web3 dismantles walled gardens, distributing data and applications across a peer-to-peer network. Imagine information not on a single server, but replicated across countless computers. This fosters transparency and eliminates censorship. Users, not platforms, own their data. Web3 empowers creators - artists can issue tokens tied to their work, allowing fans to directly support them and even own a piece. Tokens act as the fuel for a new economy, rewarding users for contributing to projects and fostering a more collaborative online experience. This shift towards decentralization has the potential to create a more equitable and user-centric internet, one where power lies not with corporations, but with the users themselves.
Authors
- Vaishali Savale
- Mayur Patil (ORCID: https://orcid.org/0000-0002-4115-4706)
- Dhiraj Pawar
- Parth Shethji
Publication Details
- Published
- 2024-12-20
- DOI
- https://doi.org/10.1109/icaiqsa64000.2024.10882407
- Citations
- 1
- Primary Topic
- Service-Oriented Architecture and Web Services
- Type
- article
- Field-Weighted Citation Impact
- 0.78