The Difference Between Web 2.0 and Web 3.0

The Web3 concept related to blockchain technology was proposed by Ethereum co-founder Gavin Wood in 2014, and it has attracted the attention of cryptocurrency enthusiasts, large technology companies and VCs in 2021. So what is the difference between Web2 and Web3?

Web 2 refers to a content production mode that users uses the platform and dominate content created on the applications. This is named to distinguish it from the first generation of the Internet, where content was generated primarily by site employees. Compared with Web 1.0, Web 2.0 allows users to become content creators and to interact and collaborate with each other in the network. In the Web2 era, the platform has the flexibility of access, interaction and feedback. But users do not have the control rights and ownership of the platform, nor do they have the ownership of their own information. The value they create for the platform is plundered by the company behind the applications.

Web3 is an inclusive set of protocols that provide building modules for application makers. Through the blockchain technology, users can realize the control of information and accounts, as well as avoid the centralized decision-making of the Web2 company from harming the rights and interests of users. The cryptocurrency represented by token reshape the production relationship. Users not only have the control rights and ownership of the platform, but also can achieve the benefit sharing and determine the development of the applications according to the willingness of the whole group.

Multi-chain World

Web3 applications are often built on blockchains, especially on public blockchains. In 2021, many chains have ushered in their own outbreaks and formed their own ecosystems with various innovative projects. However, people are struggling to transfer assets between different chains, and the poor user experience greatly reduces the interest of users to participate and therefore hinders the development of ecosystem.

There are already many platforms to help people realize cross-chain asset transfer and interaction, such as cBridge, Multichain, Stargate (supported by LayerZero), Axelar Network, IBC (on Cosmos) and XCMP (on Polkadot).

LI.Finance

However, I want to introduce LI.FI here，a cross-chain bridge aggregation protocol. LI.FI aggregates DEXs and bridges and abstracts away decisions that would normally need to be made by the user via LI.FI’s smart contract — which always chooses the best bridge/DEX for the cheapest, quickest, and most secure swap route.

By using LI.FI, people can complete the complex cross-chain process in one step through the aggregation and abstraction. And LI.FI will find the best route and provide preferred route for users. Apart from that, the team will review the supported DEX and bridge, and keep the system maintained, optimized, and secure.

Developers can easily access SDK, API, and Widget to realize the integration with LI.FI. Now, LI.FI has currently integrated 20 DEXs, 10+ bridges (and counting), and 17+ smart contract blockchains into a single UX to provide users with a seamless cross-chain experience. At the same time, many dapps have realized the internal integration with LI.FI, such as MetaMask Bridges, Alchemix, DeFi Saver, Vesta Finance, Klima, etc. Users can realize cross-chain asset transfer without switching to another pages.

Website: https://li.fi/

Dapp: https://transferto.xyz/swap

Docs: https://docs.li.fi/products/

Twitter: https://twitter.com/lifiprotocol

Discord: https://discord.gg/lifi