Web2 vs. Web3—And Bridging Them Together

Web2 vs. Web3—And Bridging Them Together
Photo by Modestas Urbonas / Unsplash

If you're like most people, you probably think of the Internet as a single entity. But there are two very different versions of the internet in operation today – Web2 and Web3.

Web2 is the older version of the internet, which is based on centralized services and platforms like Google, Facebook, and Amazon. Web3, on the other hand, is based on a decentralized network of peers. There are no central authorities in this version of the internet – instead, power is distributed among the users.

There are a few key differences between these two versions of the internet:

  • Web2 is centralized, while Web3 is decentralized.
  • Web2 uses "attention economy" models, while Web3 runs on a "token economy."
  • Web2 is anonymous, while Web3 is pseudonymous.
  • Web2 has "single sources of failure," while Web3 is designed to be "fault-tolerant."

Bridging the gap

So, what is being done to bridge the gap between these two versions of the internet?

There are several layers being built on top of the existing internet infrastructure to enable a shift from Web2 to Web3. These include:

  • Decentralized storage platforms like IPFS.
  • Decentralized compute platforms like Ethereum and EOS.
  • Decentralized data exchange protocols like 0x and Filecoin.

By building these layers, we can slowly but surely move towards a more decentralized, peer-to-peer internet – one that is more open, censorship-resistant, and resilient to attacks.

Beyond the fundamental building blocks of storage, compute, and data exchange protocols, there are also a number of applications being built on top of these platforms. These are referred to as "dApps" (decentralized applications).

Some examples of dApps include:

  • Augur: A decentralized prediction market.
  • Aragon: A platform for decentralizing organizations
  • Brave: A decentralized web browser.
  • Audius: A decentralized music streaming platform.
  • SingularityNET: A decentralized AI marketplace.

As you can see, there is a lot of activity happening in the world of Web3.0 – and it's only going to continue to grow in the years to come. So if you're not already familiar with this side of the internet, now is the time to start paying attention.

Bringing Web2 accounting to Web3

There are many challenges that need to be addressed before we can fully transition to a decentralized internet. One of the biggest challenges is accounting.

Currently, most accounting systems are based on centralized data sources that aren't compatible with decentralized applications. This means that dApp developers need to build their own accounting systems from scratch – which is both time-consuming and expensive.

In addition, traditional invoices are prone to fraud and counterfeiting, which is a major problem in the world of online commerce. Finally, managing payroll for a remote workforce that's paid in crypto, as is the case with many dApp teams, is also a challenge.

Bulla Network is a startup that offers Web3 accounting, payroll, and invoicing solutions. Bulla's platform is designed to be easily integrated into existing dApp ecosystems, and it offers a number of advantages over traditional accounting systems, including:

  • Greater efficiency: From batch payments to automated payroll, Bulla's platform is designed to save you time and money.
  • Greater transparency: With Bulla, all transactions are visible to everyone on the network, which enhances transparency and trust.
  • Better invoicing: NFT-based invoices enable better factoring, fraud protection, and dispute resolution.

If you're building a dApp or working with decentralized technologies, Bulla Network is definitely worth checking out. Join our Discord to learn more.