Welcome to our ‘Web 3.0, Layer 1 and Layer 2’ series. This article will guide you through the brief history of the internet.
- Web 1.0 (1989-2005) is also called ‘static web’, which is ‘read-only’ and decentralised. Web 2.0 (2005-present) is interactive but centralised. Web 3.0 (future) will be more human-like and return to the decentralised structure, thus improving data privacy and security.
- Bitcoin provides a feasible direction to build web 3.0; Ethereum made a real example for dWeb: It allows users to write codes on the blockchain so that Dapps can be built upon. Blockchain shows the potential to decentralise the data structure of the current centralised system.
- Decentralised applications (Dapps) are digital applications or programs run on a blockchain or P2P network of computers instead of a single computer/a single organisation. Compared to Apps, Dapps don’t need centralised servers.
- Decentralised finance (DeFi) experienced dramatic growth in the second half of 2020 and dominates Dapp, especially in terms of transaction volume.
- Ethereum used to be the main platform for Dapps to build upon, with the most Dapps and a large ecosystem. However, its dominant position is challenged by a new competitor: Binance Smart Chain (BSC).
Read the full version of the A Brief History of the Internet.