Evolution of Web 3.0

In the contemporary account of Web history, the third generation of the internet is now firmly established. As we went from decentralized protocols (Web 1.0) to centralized, monopolistic platforms, Web 3.0 will usher in a new era of decentralized blockchain-based structures (Web 2.0).

A few large Web 2.0 companies’ holds on power will weaken as Web 3.0 becomes the dominant narrative, giving the people back control. In contrast to today, when tech behemoths own the platforms, platforms and applications in Web3 will be owned by people.

The third version of the internet is known as Web 3.0. It provides the internet supported by decentralized networks using blockchain technology. In order to offer a quicker and more customized user experience, Web3 also makes use of artificial intelligence, machine learning, and the semantic web. It emphasizes shared ownership, enhanced personalization, and content sharing.

In a word, Web 1.0 was driven by the content produced by companies and other institutions. Web 2.0, the second phase, allows users to submit and share their own material on the website. Websites and online programs will be able to access information from the internet in the third phase of the internet, also known as web3, in order to provide consumers with fresh information and data.

Some features of Web 3.0:

  1. Decentralization: is a fundamental component of Web 3.0. In Web 2.0, computers search for data that is kept at a fixed location, typically on a single server, using HTTP in the form of distinct web addresses. Information might be stored simultaneously in numerous locations and become decentralized with Web 3.0 since it would be found based on its content rather than a single location. This would give individuals more power by dismantling the enormous databases that internet goliaths like Meta and Google presently maintain.
  2. Trustless and permissionless: Web 3.0 will also be decentralized, based on open source software, and trustless (i.e., participants will be able to communicate without the need for a trusted third party) (meaning that anyone can participate without authorization from a governing body). As a result, Web 3.0 applications — also known as dApps — will operate on blockchains, decentralized peer-to-peer networks, or a hybrid of the two.
  3. Connectivity and ubiquity: Information and content are more accessible and omnipresent with Web 3.0 thanks to a variety of apps and an increase in the number of commonplace devices that are connected to the internet. The Internet of Things is one such example.
  4. Artificial intelligence (AI) and Machine Learning: Web 3.0 will use technologies based on Semantic Web principles and natural language processing to give computers the ability to comprehend information similarly to humans. Web 3.0 will also make use of machine learning, a subset of artificial intelligence (AI) that mimics human learning by using data and algorithms, gradually improving its accuracy. Instead of just targeted advertising, which makes up the majority of present efforts, these capabilities will enable computers to deliver faster and more relevant outcomes in a variety of fields like medical development and new materials.

Significance:

  • The vast majority of designers and builders will use cutting-edge tools, integrate into autonomous organizations, and take part in this new economy.
  • Decentralized Autonomous Organization is the guiding principle of Web 3. (DAO). Users will be able to govern their own data on a decentralized, fair internet thanks to Web3.
  • This would get rid of the extortionate rents charged by the big platforms and get people away from the fundamentally faulty ad-based monetization of the user-generated data paradigm that has come to define the current digital economy.

Prerequisites:

  • The current architecture, which has a front-end, intermediate layer, and back-end, will need to be modified for Web 3.0 from a technological standpoint.
  • For processing blockchains, persisting and indexing data in blockchains, peer-to-peer interactions, and other tasks, will require backend solutions.
  • In a similar vein, managing a backend with a blockchain will be required of the middle layer, also known as the business rules layer.

Use Cases for Web 3.0

  • Siri and Alexa are virtual helpers.
    Great examples of Web 3.0 apps include Apple’s Siri and Amazon’s Alexa. They may be viewed as web apps with semantic intelligence. To interpret human voice instructions, these virtual machines employ artificial intelligence, natural language processing, and voice recognition software. More user involvement with Siri and Alexa improves the AI’s interactions and suggestions.
  • Wolfgang Alpha
    It is another well-liked Web 3.0 application. A computational knowledge engine called Wolfram Alpha gathers enough data from online resources and makes it accessible to consumers via a stylish user interface. It offers precise responses to a range of user questions on arithmetic, science and technology, society and culture, and daily living.

When it comes to Web 3.0, blockchain and cryptocurrencies have a lot of potentials. Successful decentralized networks encourage more responsible data ownership, governance, and content production. Digital crypto wallets — Anyone may establish a wallet that serves as a digital identity and enables transactions. You don’t have to keep your information on file or open an account with a centralized service provider. Your wallet is completely under your control, and you may often use the same wallet on several blockchains.

The long path of the Internet’s growth will undoubtedly lead to many versions. Websites and applications are evolving toward a more immersive online experience as a result of the enormous boom of data that is now readily available. Although Web 3.0 currently has a clear definition, advancements have already begun. The direction we are heading in is obvious, and blockchain, of course, appears to be a crucial component of the Web 3.0 future.

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Parth Malpani

Parth Malpani

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Parth is a High School Sophomore who trying to find some odds and make something really big and is an Aspiring Entrepreneur, Tech, and Automobile Geek