The Evolution of the Internet and the Need for Decentralization

The internet has evolved with each phase building on the previous one while leaving some properties behind. Web 2.0 brought free services to billions of people and high-quality software design, but it also centralized control and profits among a few major companies. This resulted in issues such as content creators not receiving fair compensation and critical decisions being made by a handful of companies. Web 3.0 is seen as a reaction to these problems, aiming to address economic and value capture issues by leveraging blockchains. The evolution of the web can be viewed as a series of reactions to the limitations and consequences of previous phases, with each phase attempting to solve the problems of the preceding phase. Web 3.0 represents an attempt to decentralize control and ensure fair distribution of wealth and power while preserving the positive aspects of the internet such as accessibility and user experiences.