What is Web3? Here is a simple explanation.

I spend a lot of my time beyond the cutting edge. If the Early Adopters in the ‘Diffusion of Innovation’ theory of Everett Rogers are the ones on the Cutting Edge, the Innovators are on the Bleeding Edge.

‘Diffusion of Innovation’ image by Wikipedia

Web3 is on the bleeding edge right now. It’s messy. It’s new. It’s the butt of a lot of jokes, because it’s built on the blockchain, and cryptocurrency has a bad reputation at the moment.

But the tech behind web3 is fascinating. Here’s the simplest explanation I have found for what web3 is, and what it means:

Web3 means one login for the entire Internet.

Right now, you have one login for each profile on every service everywhere. You could use the same username and password for all of them, but in web2, that’s a security risk. It’s likely you have multiple passwords that you have to manage, and you might use a password manager like LastPass to keep track of them all.

But what if you logged in once, on your computer, and then you could access all of your profiles on multiple websites, everywhere?

That’s what web3 can do.