By Ibidapo Adebayo Olabisi/300level Mass Communication UNILAG 

Understanding Web3 – The New Digital Landscape

Introduction

The internet is changing again. Most of us grew up with the social media era, where we create content on platforms owned by giant companies. While these platforms are easy to use, they own the data and the space where we hang out. Web3 is the next step in this evolution, and it focuses on one major idea: giving ownership back to the people who actually use the internet.

What is Web3?

To understand Web3, it helps to look at where we started. Web1 was like a digital library where we could only read information. Web2 is our current world of social media, where we read and write content but don't own the platforms. Web3 is being called the "read-write-own" era. It uses blockchain technology to create a digital record that everyone can see but no single person or company can control.

The Power of Decentralization

In the current internet, a central company can decide to change its rules or delete an account at any time. Web3 uses decentralization, which means information is spread across many computers instead of one central server. This makes the system more transparent. For students, this means the digital projects you build or the community groups you join aren't at the mercy of a single company's decisions.

Digital Ownership and NFTs

Digital ownership is a big part of this new landscape. You might have heard of NFTs, which stands for non-fungible tokens. Think of an NFT as a digital receipt that proves you own a specific item, like a piece of digital art or a ticket to an event. In Web3, you can own your digital assets just like you own a physical book or a pair of shoes.

Apps and Wallets

Instead of using a traditional username and password for every site, Web3 uses digital wallets. These wallets act like a secure passport for the internet. You use them to sign in to decentralized apps, often called dApps, which are programs that run on the blockchain. These apps can be anything from games to social networks, and they don't require you to hand over your personal email or phone number to get started.

Conclusion

Web3 represents a shift toward a more open and user owned internet. While the technology behind it can seem complex, the goal is simple: to make the digital world more fair and transparent. For students, getting a head start on understanding these concepts is like learning how to use a smartphone before they became popular. It is about preparing for a world where you have more control over your digital life.