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What is Web 3.0? Properties and Advantages

  • Utsav Mishra
  • Jan 06, 2022
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The World Wide Web (hence referred to as the Web) is widely acknowledged as the world's fastest-growing publication medium. It is critical to keep up with technology changes in order to remain competitive. 


The Web develops in its own special way. It moved from the static informing properties of Web 1.0 to the interactive experience provided by Web 2.0. Web 3.0, the next phase of Web evolution, is already underway. 


Web 3.0 refers to an integrated Web experience in which machines can understand and catalog data in the same way that people can. In this blog, we are going to talk about web 3.0 and how it has transformed things across the internet.


What is Web 3.0?


Ev Williams, the co-founder of Twitter, created the term "Web 3.0." This notion highlights the next step in the web's growth, going beyond 2.0 to represent a new sort of internet in which people and things are seamlessly connected in ways we can't even comprehend today. Web 3.0 is all about applications that are more integrated into our daily lives; it's all about meaningfully linking people and things.


More complex apps, more efficient use of data and resources, and a new set of tools for creating and consuming content will all be features of Web 3.0.


Web 3.0, according to Ev Williams, is the next stage in the evolution of the Internet. He believes that we are moving away from a world in which users must select between several sorts of applications to one in which users can interact with multiple services at the same time.


Network 3.0 is the next chapter in the internet's evolution, a decentralized web, unlike anything we've seen before. As we go into a future where blockchains, smart contracts, dapps, and cryptocurrency in future run our digital lives, the changes are coming fast and furious, and they will be substantial.


Web 3.0 is also about how we engage with technology and one another. It's all about leveraging technology to link people, devices, and data in new and more seamless ways than ever before. Web 3.0 will revolutionize our connection with technology, both at home and at work. (Source)



How will Web 3.0 Work?


Sites and pages on the third-generation web will take information from users (through voice, text, or other types of media) and intelligently process it to personalize it to each user. Various users will see the same content in different ways. As a result, data will no longer be owned by a single entity but will instead be a shared resource.


Twitter's Senior Project Manager, Esther Crawford, told NPR that the social media company is looking into methods to incorporate Web3 concepts into the platform, such as the ability to log into the platform and tweet from a cryptocurrency account rather than a Twitter account. 


She views the future differently: she doesn't see a crypto-version of Twitter as a viable replacement for Twitter. Twitter, on the other hand, is introducing Web3 functionality on top of the normal Twitter platform.


(Read more: Web Analytics)



Properties of Web 3.0


The transition from Web 2.0 to 3.0 is taking place gradually and mostly unnoticed by the general population. Web 3.0 applications look and feel the same as 2.0 applications, but the backend is radically different.


The future of Web 3.0 is universal applications that can be read and used by a variety of devices and software types, making our business and recreational activities more convenient.


The advent of technologies such as distributed ledgers and blockchain storage, which will challenge Web 2.0's centralization, monitoring, and exploitative advertising, will enable data decentralization and the establishment of a transparent and secure environment.


When decentralized infrastructure and application platforms replace centralized tech corporations, individuals will have full ownership over their data in a decentralized web.


To further understand the complexity and subtleties of Web 3.0, let's look at its four qualities.


  1. Semantic Web


The "semantic web" is an important part of Web 3.0. Tim Berners-Lee coined the term to describe a web of data that machines can parse. So, what does that mean in plain English? What does the term "semantics" mean exactly? What's the difference between saying "I adore Bitcoin" and saying "I adore Bitcoin"?


The semantics of the two phrases are comparable, despite the differences in syntax. In the preceding example, semantics is concerned with the meaning or emotion represented by facts, and both of those statements indicate the same feelings. 


The semantic web and artificial intelligence are the two cornerstones of Web 3.0. The semantic web will assist in educating the computer what the data means, allowing AI to generate real-world use cases for the data.


The main idea is to create a knowledge spiderweb throughout the internet that will help people comprehend what words mean and generate, share, and connect content through search and analysis. Because of semantic metadata, Web 3.0 will allow for increased data exchange. As a result, the user experience advances to a new level of connectivity that utilises all available data.


  1. 3D Graphics


As the internet grows from a simple two-dimensional web to a more realistic three-dimensional cyberworld, Web 3.0 will have a significant impact on its future. Three-dimensional design is used extensively on Web 3.0 websites and services, such as e-commerce, online games, and the real estate market.


As bizarre as it may appear, thousands of people from all over the world are currently interacting at this location. Consider online games like Second Life or World of Warcraft, where players are far more concerned about the safety of their virtual avatars than they are about their real-life counterparts.


  1. Artificial Intelligence


Artificial intelligence will enable websites to filter and present the most relevant information to users. Organizations have begun to collect client feedback in the present Web 2.0 age to better determine the quality of a product or asset. 


Consider a website like Rotten Tomatoes, which allows users to score and review movies. Films having a better rating are frequently referred to as "good films." These kinds of lists enable us to pass past the "bad data" and get right to the "good data."


  1. Ubiquitous


The term "ubiquitous" relates to the concept of existing or being present in several locations at the same time, also known as "omnipresence." In Web 2.0, this feature is already present. 


Consider Instagram, a social networking platform where users snap images with their phones and then share and distribute them online, where they become their intellectual property. The image becomes widespread or available everywhere once it is posted.


The Web 3.0 experience will be accessible anywhere, at any time, thanks to the expansion of mobile devices and internet connections. The internet will no longer be limited to your desktop computer or smartphone, as it was with Web 1.0 and Web 2.0. It will be all-knowing and all-powerful. Web 3.0 might be labelled the web of everything and everywhere because most things around you are connected online (Internet of Things).



What is Web 3.0 in Crypto?


When it comes to Web 3.0, you'll often hear the term "cryptocurrency" discussed. Because many Web 3.0 protocols rely significantly on cryptocurrency, this is the case. Instead, it gives everyone who wants to help establish, govern, contribute to, or enhance one of the projects a monetary incentive (tokens). 


Web 3.0 tokens are digital assets linked to the goal of establishing a decentralized Internet. These protocols could provide services like compute, bandwidth, storage, identity, hosting, and other internet services that cloud companies used to provide.


For example, the Ethereum-based Livepeer protocol acts as a marketplace for video infrastructure providers and streaming applications. Helium, meanwhile, uses blockchains and tokens to reward consumers and small businesses to provide and confirm wireless coverage as well as send device data across the network.


People can make money by participating in the protocol in a variety of technical and non-technical ways. Consumers of the service often pay to use the protocol, similar to how they would pay an Amazon Web Services cloud provider. Unnecessary and frequently wasteful intermediates are eliminated, as is the case with many forms of decentralization.


Furthermore, non-fungible tokens (NFTs), digital currencies, and other blockchain entities will be actively used in Web 3.0. For example, Reddit is aiming to break into Web 3.0 by creating a mechanism that uses cryptocurrency tokens to allow users to effectively manage portions of the on-site communities in which they participate.


Users would earn ‘community points' by posting on a specific subreddit, according to the notion. The user is then awarded points based on the number of people who upvote or downvote a specific post.


On an endnote, let us look at the advantages of Web 3.0.


Advantages of Web 3.0


Web 3.0 is the next significant step forward in the Internet's evolution, bringing us a better, quicker, and more intelligent experience. Web 3.0 is based on a new set of standards that incorporates blockchain technology and artificial intelligence (AI). Users and investors who have invested in innovative firms like Uber, Airbnb, or Spotify will benefit greatly from these technologies.


Furthermore, blockchain technology will aid in the development of decentralized applications, resulting in a better internet. The primary goal of this software is to allow users to transact with one another without the necessity of a middleman.


Web 3.0 is the next generation of web-based apps and technology that can improve people's lives by providing new ways to access information, communicate with others, and share ideas.

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