What Is Web 3? A Beginner’s Guide to the Decentralized Internet | by Kolade Oluwarotimi | The Capital | Dec, 2024

Hey there, buddy! Welcome to the start of something seriously cool.

If you’ve been hearing people drop terms like Web 3, blockchain, or NFTs, and you’re wondering, “What’s all the fuss about?” — you’re in the right place. This is where we strip away the tech jargon and get to the good stuff.

This guide is just the beginning. I’ll be dropping more Web 3 content to help you understand what’s happening in this new era of the internet. No lectures, no boring stuff — just straight-to-the-point info to help you get in the game.

A follow would mean the world, and hey, it’s free (for now — this is Web 3 we’re talking about). Let’s kick things off, shall we?

First, a quick history lesson.

Web 1.0 (The Read-Only Era): This was the early internet. Think static websites, email newsletters, and dial-up tones. You went online, read stuff, and that was it.

Web 2.0 (The Social Era): The era of Facebook, YouTube, and all the platforms that let you share, like, and comment. It was interactive and exciting. But there’s a catch: They owned everything. Your data, your photos, your late-night rants — they control it all.

Now we’re moving into Web 3.0, and it’s flipping the script.

Web 3 is the next evolution of the internet.

It’s decentralized. That’s just a fancy way of saying no one owns it — not Big Tech, not the government, not some CEO sipping lattes in Silicon Valley.

Instead, it’s powered by blockchain technology. Think of it as a digital ledger that tracks transactions. But it doesn’t sit in one place. It’s spread out across thousands of computers, making it nearly impossible to hack or shut down.

The most amazing part With Web 3 is that you own your data. You control your digital identity. And you can even make money just by participating.

Sounds great, right? We’re only getting started. Let’s move on!

The differences are huge. Let me break it down for you:

1. Ownership:

Web 2 was all about platforms. Facebook owns your posts. Google owns your searches. In Web 3, you own it all. For example, you can hold digital assets like NFTs (we’ll get to that later) directly in a wallet that only you control.

2. Privacy:

Remember those creepy ads that follow you after you search for “best pizza near me”? That’s Web 2 tracking your every move. Web 3 doesn’t do that. It’s built to respect privacy through encryption and decentralized systems.

3. Participation:

In Web 2, you’re just a user. In Web 3, you’re part of the system. You can vote on changes, earn tokens for contributing, and even co-own projects through DAOs (Decentralized Autonomous Organizations).

Let’s keep this simple.

Web 3 runs on blockchains, which are like digital notebooks. Every time something happens — a transaction, a new NFT, whatever — it gets recorded in this notebook.

But here’s the twist: Everyone has a copy of the notebook, so no one can cheat.

Then there are smart contracts. These are self-executing agreements coded right into the blockchain.

Think of them like vending machines: You put in money, and the machine delivers your snack — no middleman needed.

Everything in Web 3 — cryptocurrencies, decentralized apps (DApps), and even governance systems — builds on this foundation.

Seems I’ve taken you a little too far 🙂

Let’s bring this down to earth. What does Web 3 look like in action?

Heard of Bitcoin or Ethereum? These are digital currencies that live on the blockchain. No banks, no borders, just peer-to-peer transactions.

Think of NFTs as digital collectibles. They could be art, music, or even virtual real estate. And when you buy one, you truly own it — verified on the blockchain.

Imagine earning interest, taking out loans, or trading assets — all without a bank. That’s DeFi. It’s financial services but without the middlemen.

These are online communities with no bosses. Instead, members vote on decisions using tokens. It’s democracy, blockchain-style.

Let’s be real. Web 3 isn’t perfect. It’s still new, still clunky in places, and not everyone is sold on the idea.

But think about this:

• You could control your data instead of handing it over to giant corporations.
• You could make money by contributing to communities or owning digital assets.
• You could help shape the future of the internet instead of just being a user.

It’s not just a tech shift. It’s a power shift. And that’s worth paying attention to.

Let’s tackle a few things people always ask:

Nope. Crypto is a big part of it, but Web 3 is about more than money. It’s about decentralization, ownership, and creating a fairer internet.

Mostly, yes. The decentralized nature makes it harder to hack. But don’t lose your wallet keys — there’s no “forgot password” button in Web 3.

Absolutely! Start by setting up a Web 3 wallet (like MetaMask). Explore platforms like OpenSea (for NFTs) or Uniswap (for DeFi).

Before you go headfirst into Web3, know this — Web3 isn’t all rainbows and unicorns.

It’s still evolving. Many tools are hard to use, and scams exist.❗️

The environmental impact of some blockchains (like Bitcoin) is a hot topic.

And yes, it can feel overwhelming at first.

But remember, the internet didn’t go from dial-up to TikTok overnight. Web 3 is just getting started.

Web 3 isn’t the future — it’s already here.

Yes, it’s complicated. Yes, it’s messy. But it’s also full of possibilities.

Whether you want to own digital art, lend crypto for profit, or just browse the web without being tracked, Web 3 offers something for everyone.

So, why not take a step in? Set up a wallet. Learn the basics. Explore.

Because the internet is evolving — and you don’t want to be left behind.

Thanks for reading! Till I write you again… don’t lose your wallet keys (seriously, don’t), don’t click on that “Get Rich Quick” crypto ad, and for the love of decentralization — back up your passwords! Stay safe out there, buddy!