ELI5: What is the difference between Web3 and Web2

Web3 is like owning your own toys and deciding who gets to play with them, while Web2 is like playing in a playground where someone else owns all the toys and makes the rules.

Imagine the internet like a giant playground.

Web2 is the playground we use now.

• You can play games, watch videos, and talk to friends.


• But, the playground is owned by big companies like Facebook (Meta), Google, and Twitter (X).


• They decide what games you can play, what videos you can watch, and even who you can talk to.


• They also collect all the information about what you do on the playground and use it to show you ads. It's like they're watching you all the time!


• You don't really own anything on the playground. Your profile, your pictures, your friends – they all belong to the company. If they decide to shut down the playground, you lose everything.

• Instead of one big company owning everything, it's like everyone owns a little piece.


• You own your own "toys" (like your data and content) using something called blockchain, which is like a giant, shared ledger that everyone can see.


• No single company can control everything.


• Think of it like owning your own drawing that you can share across different playgrounds. The drawing is always yours, and you decide who gets to see it.


• You can earn rewards (like special tokens) for helping to build the playground, like creating new games or helping other players.