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It's the name of the ethereum JS library:

The idea is that cryptocurrencies will represent the 3rd wave of the internet after web 2.0 https://en.wikipedia.org/wiki/Web_2.0

Although Tim Berners lee tried to coin web 3.0 as the semantic web but that's not really taken off as a concept.

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Yet, the way Web 3.0 works in practice is with a browser extension (which Reborn basically integrated) that does http API calls to a centralized 3rd-party server.

So while they market decentralization and trustlessness, they are one server-compromise away from getting fed a completely false view of Ethereum's blockchain state and losing all their funds.

If that's an attempt on web 3.0, we might as well just skip straight to web 4.0.

You can use this with your own node without trusting any 3rd party server. Right now this takes some effort but projects like Ethereum 2.0 will enable running a self hosted trusted node on low power devices and even mobile phones via checkpoints. It's not a good idea to use today's capabilities to judge future use cases.

Haha, interesting.

I had the feeling everyone tried to coin web 3.0 for many years now and it didn't really take off.

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