The Internet has undergone a significant change since its inception. From web1 to web2 is the development of interactions and social media platforms in the 2000s. It can also be said to be the next generation of decentralised technologies such as blockchain, smart contracts, and most importantly the famous cryptocurrencies. Web3 is on a mission to decentralize control and enable individual interactions known as peer-to-peer without the need for intermediaries.
Web3 is about transparency; it makes sure that users' participation is evident, not making them only consumers. Users have power in decision-making processes and earn rewards for their contributions. Certain key features form the basis of Web3, such as decentralisation in which data is stored on a distributed network rather than centralised servers. There is also blockchain technology in which every transaction or interaction is recorded on a blockchain, a public ledger that ensures transparency and trust. In web3, there are also smart contracts, self-executing contracts written in code, disabling the participation of third parties. It also makes use of a token economy where users can earn or purchase digital assets like NFts, and cryptocurrencies that have real-world digital value.
My journey into web3 began early in life thanks to my father. He is a web3 enthusiast and as the first child of the family, I had the opportunity of sitting with him and learning at his feet😁😁😁. My first knowledge was of cryptocurrencies, and I learned basic stablecoins such as USDT. Then, my father was into forex trading, though I watched him, but I never got the knowledge of it because I wasn't interested. My thoughts then were that, forex trading or anything cryptocurrencies is for a man and not a lady's thing, not until I grew and I mingled with friends who are very interested in web3. Then I got more interested, and my journey began with farming airdrops. It was a long journey, I must say, some projects were farmed for years and didn't yield positive results, while some were farmed for a few months and came out with heart-melting rewards.
Just as we know that every good thing sure has negative parts too, so is Web3 especially when it comes to cryptocurrencies. There are times when investments would be washed down the drain because of some glitch in the crypto market. I've seen my dad lose money in the crypto market over the years by investing in some projects that didn't yield good results. The pain and sacrifices we have to put up with in the house, because it sure does affect the family as a whole, made me doubt Web3, and at some point, made me lose interest. Then I question myself, the happy days when I make money, I don't complain why then do I when I lose, then I began restrategising, learning more on how to invest wisely and in the right projects, likewise saving a stablecoin portfolio which would help in reducing loss and risks.
In the early years of my journey, I was once part of those who believed crypto was a scam because of how people complained of losing money on almost every one of their investments. But as time goes on, I realised the world is developing at a fast pace and crypto knowledge would be a very important asset to have, so I jumped at the opportunity, asking questions, reading books, and making more enquiries. When I got introduced to Hive, I thought it was all about writing not until I realized that it is a web3 platform where you earn by writing and not just that, one gets the opportunity to get involved in activities that can surely increase one's earnings by staking, and powering up which would yield interest at the later days.
People come into the web3 space with the mindset of suddenly becoming millionaires because their role model said he traded once and hit a jackpot. It's hilarious because it doesn't work like that. It requires,m consistency, dedication, patience, and passion to learn at every step. Web3 space would drill you, especially as a newbie, you would be eager to participate in every project, forgetting that not all projects would work, and in the end, such a person would be easily discouraged when it doesn't go as expected.
So far, my journey has been an interesting one, learning from all the mistakes and moving on to a better tomorrow. Blockchain platforms, smart contracts, dApps, wallets, and tokens are what I favor about web3, though I am looking forward to learning more, as no knowledge is a waste.
Thanks for your time and your comments will be appreciated.