Reviewing the history of internet development in the past few decades, it can be summarized as three different stages: Web 1.0, Web 2.0 and Web 3.0. Web 1.0 is generally considered to have begun in early 1990s offering basic read-only webpages without any user interaction. Web 2.0 came roughly at the beginning of 21st century and continued to today, where users not only read but also create the content based on various social media platforms namely YouTube, Twitter and Meta（Facebook）. If Web 1.0 is a one-way highway requiring users to receive information passively, Web 2.0 realizes two-way UGC (user-generated content) production. Afterwards Web 3.0 was proposed around 2018 with the rapid development of blockchain technology, which protects the sanctity of personal property and more voices from individuals in front of institutions. Web 3.0 is a decentralized network that gives users the ownership of their data and all participants involved have equities over the whole ecosystem. At the present, we are in the transitional period of Web 2.0 and Web 3.0, excited about users’ power in Web 3.0 era but still obsessed with Web 2.0’s mature products. In this writing, we will discuss the differences between Web 3.0 and Web 2.0 regarding the stakeholders as well as underlying paradigm shift. Also, Web 3.0’s eight prominent attributes like ownership, user acquisition and others with a number of examples are illustrated here to give a clearer picture on the next generation internet.