INTRODUCTION
This is a comprehensive article for beginners to understand the meaning and difference between technology and networks and the appropriate use of terms in web3.
These elements serve as the foundation for the creation and operation of decentralized applications as well as the safe and transparent exchange of digital assets in web3.
What is Web 3?
Web 3 is a decentralized web that leverages decentralized technologies to provide a more open, secure, and decentralized internet.
Web 3 eliminates the centralization of Web 2 which makes data easily secure and accessible. Web 3.0 focuses on creating a more secure web, with cryptography and other security measures built into the core of the system.
Meaning of Technology in Web 3
Technology means the application of scientific knowledge to solve problems and for practical purposes.
According to the definition given above, technology is the use of any medium for the benefit of humanity, such as the development of the computer or the use of machines in place of manual tools.
In Web 3, technology means the various tools, software, and programming languages to develop decentralized applications(apps), smart contracts, and other blockchain-based solutions.
These technologies are used for the deployment, creation, and execution of a decentralized application to ensure transparency in the transfer of digital assets and automation of complex transactions.
Web3 technologies are built to make interactions between parties safe, decentralized, and trustworthy without the use of middlemen. Additionally, it seeks to offer privacy, immutability, and transparency to dApp users.
Examples of Web 3 technologies: Blockchain, Decentralized storage(IPFS and Swarm), Smart contracts, etc.
Meaning of Network in Web 3
A network means several interconnected computers, machines, or operations.
From this definition above, network in Web 3 means the connection of a group of computers that provide the underlying infrastructure for decentralized applications to function.
Web3 networks are often dispersed and decentralized, meaning there is no single point of failure or control.
Creating a safe and dependable platform for transactions and data sharing is one of a network's main goals in Web 3.
Examples of Web 3 Networks: Binance Smart Chain, Ethereum, Polkadot, Filecoin, etc.
Relationship between Web 3, Technology, and Network
Web3 could be considered as the house or the structure that houses the technology and applications that run on it. Technology, such as blockchain, cryptography, and smart contracts, could be compared to a generator that provides the power for the house to function. The networks, such as Ethereum, Polkadot, and other blockchain networks, could be likened to the fuel that powers the generator.
Just like a house requires a generator and fuel to function, Web3 requires technology and networks to operate. And just as a house can be improved by upgrading its generator or fuel source, Web3 can be improved by the development of new and better technologies and networks.
Conclusion
In terms of technology, Web3 relies on a range of cutting-edge tools and protocols to enable decentralized applications (dApps) to run on the blockchain. On the other hand, networks are the backbone of Web3. They enable users to connect to and interact with decentralized applications, as well as facilitate the transfer of value and information on the blockchain.