What is WEB 3.0 ?
In the mid-1990s, the World Wide Web made its way into our living rooms, and it has since extended to practically every room in every house in the world in some fashion. The internet has gone through two separate iterations, Web 1.0 and Web 2.0, but what precisely is Web 3.0?
The Early Days of the Internet — Web 1.0 and Web 2.0
In the 1980s and early 1990s, Web 1.0 marked the initial timid steps into the realm of the internet, with sites that were ‘read only’ (if you could read them) and a promise that was far greater than the eventual product. There were no search engines and no mechanism to compile what little information was available. Web 2.0 began with the new century, which witnessed significant advancements in technology, web site diversity, and usage. User engagement became a thing overnight, with ordinary people able to join up for forums and discussion boards and chat with individuals all over the world.
Web 3.0 Represents a Decentralized Future
Web 3.0 takes the spirit of web 2.0 and propels it into the next epoch. The decentralized web, also known as the distributed web, is the latest generation of internet apps and services that are driven by distributed ledger technology, the most common of which being blockchain. Despite the fact that it appears to be a novel notion, Sir Tim Berners-Lee, the inventor of the World Wide Web, prophesied the arrival of this version of the internet, which he dubbed the “Semantic Web.”
Anyone who has even a passing interest in blockchain technology will be aware with the notion of Web 3.0: instead of information being kept on central servers, it is distributed throughout the globe via numerous nodes, making it difficult to shut down. Moreover, it is highly resistant to censorship. Users as content creators may monetize their contributions through the Web 3.0 infrastructure, adding a whole new dimension of engagement.
Identity in the Digital Age
Another technology created by the blockchain is digital IDs, which may become the most crucial element of Web 3.0. The argument is that Web 2.0 is rife with cybercrime, which includes anything from identity theft to click fraud.
It occurs because the connection between two computers has not been properly validated and cannot be authenticated at this time. Allow me to explain.
With web 2.0, a server can never be certain that the client software accessing it is what it claims to be — a browser controlled by a human person. On the other hand, the browser has no way of knowing if the server and files it is visiting are the ones it wants to access.
Everyone can benefit from AI and Big Data.
Most online users are acutely aware of digital adverts that follow them around the web, Facebook banners that appear in front of their eyes, and Amazon’s attempts to persuade them to buy something else “they might enjoy” when they are ready to place an order. The twin weapons of Big Data (mostly your data) and AI deliver commercial firepower to websites with large budgets, putting the client at a disadvantage.
Intelligence, on the other hand, cuts both ways. Individuals might benefit from AI as well if they take control of their data and work together to identify efficient methods to utilize it. In short, the potential of AI are likely to expand with Web 3.0, but at the expense of the user.
Cryptocurrency and Blockchain
Without addressing the connection between Web 3.0 and blockchain and cryptocurrency technology, which are already altering the financial industry, a description of Web 3.0 would be insufficient. By making Web 3.0 more open and safe, and permitting total ownership and control of the data, blockchain helps overcome the key flaws of Web 2.0. How can a corporation achieve a competitive edge by utilizing web 3.0 technologies? The options are infinite, and they include the use of defi solutions, tokenization, cloud storage, smart contracts, and other technologies to increase efficiency and enhance confidence.
