Decentralization is a well-known notion, but what if we said that the internet today can be decentralized as well? Web 3.0 refers to the progression of web usage and interaction, including the transformation of the web into a "Database."
Initially, it might not look different from web 2.0, and one may even ask, “What is the point of a new web when web 2.0 is already benefiting millions of people?” Web 2.0 does not allow people to have any control over the storage of their data.
Data breaches are a common occurrence in Web 2.0 applications and there are even websites dedicated to keeping track of data breaches and informing you when your personal information has been hacked.
It has been a common problem as more and more internet users are realizing that many web 2.0 companies are storing their data for more data leads, without consent. The core work principle of these companies runs around the centralization and exploitation of the user data. Here comes the idea of Web 3.0, which is the main focus of this article.
What is Web 3.0?
Web 3.0 or Semantic Web (as named by the original creator Tim Berners-Lee) is a type of internet that will use blockchain technology to work on decentralized networks like Ethereum or Bitcoin. It is said to be the ‘future of the internet’.
It will be a platform with no single organization in charge, yet everyone can trust it since all users will adhere to the same set of hard-coded rules, known as consensus protocols. It will help users by making the internet smarter or processing data with near-human intelligence. It will establish a network that is open, trustless, and permissionless.
Web3 developers rarely create and deploy apps that operate on a single server or store their data in a single database hosted and managed by a single cloud provider. Instead, web3 apps are built on blockchains, decentralized networks of numerous peer-to-peer nodes (servers), or a hybrid of the two. These apps are known as DApps (decentralized apps), and this is a term that one will hear a lot in the web3 community.
When you look at the issue statement more closely, the progression of the web from web 2.0 to web 3.0 makes sense, since, in web 2.0, users could only read, write, and create things on the internet, which made it easier for businesses to grasp the dynamic data of users. However, in web 3.0, all algorithms will attempt to interpret individual data and customize the internet for each user. Companies such as Netflix, Youtube, and Spotify are already doing this by customizing the internet by analyzing user behavior rather than gathering data.
While the emergence of mobile, social, and cloud technologies propelled web 2.0, web 3.0 is propelled by three new layers of technical innovation. Let us learn about these layers.
Layers of Web 3.0:
Here are the three new layers of 3.0:
While web 2.0 modifies presently commoditized personal computer technology in data centers, web 3.0 is pushing the data center out to the edge, that is edge computing, and perhaps right into our hands. Phones, computers, appliances, sensors, and automobiles will create and consume 160 times more data in 2025 than they did in 2010.
Decentralized data networks allow different data producers to sell or exchange their data without losing ownership, jeopardizing privacy, or relying on middlemen. As a result, in the emerging 'data economy,' decentralized data networks will have a large list of data providers.
In web 3.0, data is decentralized, which implies that consumers will control their data. Decentralized data networks allow different data producers to sell or exchange their data without losing ownership, jeopardizing privacy, or relying on middlemen. Using Internet Identity, you may log in securely over the Internet without being traced.
Artificial Intelligence and Machine Learning:
Artificial intelligence and machine learning algorithms have progressed to the point that they can now make useful, and sometimes life-saving, predictions and actions. When constructed on top of new decentralized data structures that provide today's tech titans access to a multitude of data, the potential uses go far beyond targeted advertising into sectors like precision materials, drug production, and climate prediction. Even though web 2.0 has comparable capabilities, it is still mostly human-based, allowing for corrupt behaviors such as biased product assessments, manipulated ratings, human blunders, and so on.
Features that define Web 3.0 :
The Semantic Web 3.0 claims to organize "the world's information" in a more logical manner than any Web 2.0 application. The following are five key characteristics that might help us define Web 3.0:
The semantic web enhances online technologies by allowing users to create, share, and link material via search and analysis based on the capacity to grasp the meaning of words rather than keywords or numbers.
Blockchain and cryptocurrencies are progressively being integrated into the current economic framework, and it is yet uncertain if they will be fully integrated or become the primary currency. Cryptocurrencies, on the other hand, are envisioned as a mechanism to compensate content creators in Web 3.0, who would get a token each time someone accessed their work.
Application sharing, transactions, and censorship-resistant peer-to-peer file storage will all be supported via smart contracts. It would necessitate a total change in corporate practices, as well as the empowerment of consumers and producers.
By combining this power with natural language processing, computers in Web 3.0 will be able to discern information in the same way that people do, resulting in faster and more relevant results.
To meet the needs of users, they grow increasingly intelligent. Even though Web 2.0 has similar capabilities, it is still mostly human-based, allowing for corrupt practices such as biased product assessments, manipulated ratings, and so on.
Customers may offer comments on any product or service using online review platforms like Trustpilot. Unfortunately, a company can easily engage a large number of people to write glowing reviews for its valuable products. As a result, for the internet to give reliable data, AI must learn how to distinguish between the genuine and the fake.
3-D Graphics or Metaverse:
Some visionaries refer to Web 3.0 as the Spatial Web because it aims to blur the line between real and virtual worlds by rethinking graphics technology and putting three-dimensional (3D) virtual worlds or metaverse into sharp relief.
In Web 3.0, three-dimensional design is frequently employed in websites and services. Unlike their 2D predecessors, 3D graphics create a new level of immersion not just in futuristic gaming applications like Decentraland, but also in other areas like health, real estate, and e-commerce. 3D graphics are used in museum tours, computer games, e-commerce, geographical settings, and other applications.
Connectivity or Ubiquity:
Web 3.0 will eventually eliminate many of the drawbacks of Web 2.0. Information is better linked with Web 3.0 owing to semantic metadata. As a result, the user experience progresses to a new level of connection that takes advantage of all accessible data.
Web 3.0 is highly based on IoT sensors and makes the Internet available to everyone, anywhere, at any time, without the need for a computer or smartphone. Ubiquity is defined as being or having the ability to be everywhere, especially at the same time. It can be summed up in one word: pervasive.
Web 3.0 simply goes one step further by making the internet accessible to anybody, anywhere, at any time. Internet-connected devices will no longer be limited to PCs and smartphones, as they were in Web 2.0 since IoT will bring forth a range of new types of smart gadgets. In the end, your identity, most of the items you own, all of your data, and every software capacity you have a right to use will all be connected and able to function together.
Software negotiating with software:
The "browser and website" model is what we've been used to. We have browser plugins that help us with things like cutting web pages, filling in passwords, and ad blocking, among other things. Except for the web giants with the big budgets that can afford Big Data AI and hence software that responds to the user in real-time, websites have been pretty sluggish in communicating with their users.
Web 3.0 will have a different paradigm. Individual users will start to think of what we now refer to as a browser as a type of operating system that executes programs. What we presently refer to as plugins will become applications, and while they will still be able to display documents and videos, some will be considerably more sophisticated. In Web 3.0, users will be able to buy and configure bots that serve them directly, much as hackers and certain websites do now. After all, bots are merely apps.