The internet as we know it today has done an incredible job of distributing information, connecting us to our friends and family, and making the world a smaller place. It’s brought the information age into reality, and the innovations that have come out of this change have helped to improve lives around the world. But now that all of these changes have been made, what’s next? What comes after the internet? Web3 may be that next iteration. But before we get into why it’s so important, let’s first understand what exactly it is. What is Web3 and why it’s a game changer

What is blockchain technology
Blockchain technology offers us a way to structure applications around groups of people who don’t know or trust each other. It’s secure, because every transaction is cryptographically signed, and its decentralized nature removes any single point of failure. The blockchain can be used for more than just currencies: It’s also great for verifying any type of digital content. In essence, blockchain technology lets us create global, decentralized databases without having to trust anyone—and without paying hefty fees to financial institutions along the way.

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How to Use Blockchain Technology in Real Life
A Step-by-Step Guide: The web that we know it – where users could browse through online articles, download music and videos and even purchase products online – has been around for over 20 years. In that time, as computers have evolved, so too has technology. But while most of us are familiar with terms like the cloud or the internet of things, one term you may not be as familiar with is blockchain.

What is Web3 and why it's a game changer
What is Web3 and why it’s a game changer

How Does Blockchain Work?
Blockchain works thanks to a combination of public-key cryptography and peer-to-peer networking. For example, if you want to send bitcoins (BTC) from an address that has 10 BTC on it, you’ll need to enter your private key for that address in order to sign off on any transfers. Without your private key, nobody can use your account!

Can Blockchain Technology Help People In Developing Countries?
Blockchain technology promises to bring internet users a new way to interact with one another through smart contracts that are cryptographically secure, but as of yet, there’s little evidence that blockchain tech can be used to improve lives in developing countries. There is no tangible progress [in terms of how blockchain might help people in developing countries], says Nathanial Popper, author of Digital Gold: Bitcoin and The Inside Story of The Misfits and Millionaires Trying To Reinvent Money.

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How to Build on the Ethereum Platform
The first step for any new blockchain developer will be to build their own private Ethereum blockchain. This entails downloading and installing Geth, which essentially serves as both an Ethereum client and network/node (think of it like a server). Next, you’ll need to create your own personal accounts, which can all be done in Geth. From there, you will have all of your basic tools at your disposal in order to start building anything from scratch on top of Ethereum.

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By High Tech Team

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