What Is Web 3 and Why Is Everyone Talking About It?
Web 3.0 | The internet is what connects us today in all spheres of our lives be it professional or personal, it is because of it that many of the things that were not easily accessible are now at her fingertips.
Commercial organizations first started integrating the internet in the 1990s and that is how the boom initiated. And after that in 2004 the people became creators rather than consumers and this led to the internet we are using right now and making full use of it.
Then the timeline is split into two parts that are-
- Web 1.0-That is the period between the year 1990-2004 where people were consuming content and it consisted of static web pages that were delivered to the user’s browser directly as stored, there were no producers of content.
- Web 2.0– This is the period after 2004 and which is still going on here. People are producers of content through blogs, social media and it is user-content driven.
So, is there a chance of Web 3.0?
Well, before 2021, it could have been a far-fetch dream but now it is coming closer to reality to Web 3.0.
Definition– It is a new idea for the World Wide Web that works on the principles of decentralization and Blockchain, as in Web 2.0 the data is being controlled.
The Big Tech consists of Google, Apple, Amazon, Meta, and Microsoft. The term Web 3.0 was led by the founder of the cryptocurrency Ethereum that is Gavin Wood. It has been gaining popularity from 2021 from cryptocurrency enthusiasts, venture capital firms and technology companies etc.
The basis of Web 3.0 is similar in some concepts to Semantic Web that was propagated by Tim Berners Lee which is defined as making the internet data machine-readable. It is not entirely the same concept but there lies some similarities like these.
Features of Web 3.0
Web 3.0 is fascinating with unprecedented new features tuned in the current Web 2.0 environment. It also has the potential to dramatically change the way people use the Internet.
Interestingly, makes automation of daily tasks, schedules reminders, does AI-based searches, and other features increasingly ubiquitous. Web 3.0 has significantly enhanced the digital user experience while providing security for online applications.
3D graphics expand the world of how to see your material. Semantic metadata also facilitates information networking so that everyone has access to all available information that depends on user behavior at the central hub.
It goes beyond the concept of a simple website to build your own web. Web 3.0 makes the service available everywhere, as all data accesses numerous smart apps.
Difference Aspects of Web 3.0
In this third-generation web, pages and websites will collect information transmitted by users (by voice, text, or other forms of communication) and intelligently process them to suit each person. use. The same content will be displayed differently to different users. Thus, the main feature is that the data will no longer be held by a single entity but will be a shared resource. So what does it actually involve? At the core of Web3 are distributed applications (or d apps) built using the Ethereum blockchain, which pays out to users who help keep its network online.
What is the underlying technology that WEb 3.0 is based on?
Blockchain technology creates publicly visible and verifiable records that can be accessible by anyone, anywhere. Blockchain has underpinned Bitcoin and other cryptocurrencies like Chainlink, Stellar, Tron, as well as a number of emerging technologies, and it aligns with the future vision of whatever Web3 promises.
The advantages of Web 3.0 are-
- Enhanced Information Linkage: The Semantic Web helps connect online data.
- Efficient search
- Better marketing.
- Surf the internet more efficiently.
- Effective communication.
- Change the way people interact.
The disadvantages of Web 3.0 are-
- Less advanced devices can’t handle Web 3.0.
- Web 1.0 websites appear much older
- It can be very difficult for beginners to understand.
Is Web 3.0 an amalgamation of Web 1.0 and 2.0?
In a way, Web 3 is an amalgamation of the two eras that preceded it. The technologically is progressive, dynamic, and application-like of the modern web, combined with a decentralized, user-centric philosophy.
Mindset existed in the early days of the Internet before billion-dollar companies owned it all. Web 3.0 shifts momentum from giant tech entities to users – or at least that’s the theory.
You’ve no doubt already come across NFTs. Is a way of assigning permanent ownership (that`s the non-fungible part) to a digital item. Digital works of art, from music to sketches, are currently riding on it.
NFT boom, as you may have noticed. For our purposes here, the relationship between crypto, NFT, and Web 3.0 is fundamental: blockchain.
Add artificial intelligence and machine learning to do everything from filter out junk data to detect security threats, and you have pretty much all of the emerging digital technologies covered by Web 3.0.
Currently, Ethereum is the blockchain that is getting the most attention in Web 3.0 it supports both cryptocurrencies and the NFT system, and you can do anything, from making payments through it to creating an application on it.