Web2 can be seen as a centralized part of an internet, it is an internet era where companies that provides services in exchange for your personal data. The exponential growth of Web 2.0 has been driven by key innovations such as mobile Internet access and social networks, with the advent of web2 technology, several existing companies like Facebook, amazon and google where birthed.
Web3 can be seen as a new era of technology that moves from centralized to decentralized phase, Web 3.0 has a blockchain-enabled architecture that enables necessary decentralization.
This is further augmented by a balanced economy, where creators and users are compensated for their time, effort, and information.
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