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Introduction To Web 3.0

Victor Faith's photo
Victor Faith
·Jul 11, 2022·

7 min read

Introduction To Web 3.0

Web 3.0 is envisaged as the new generation of the web, and will have apps and websites that process information much more than humans do. Web 3.0 will succeed thanks to innovations in artificial intelligence, machine learning, and decentralized ledgers.

Without discussing the development and background of the web, we cannot properly discuss web3. Starting with web1.0 and moving down to the newest internet technology, web3. In a nutshell, we can group the phases into:

  • Web1.0: Static web
  • Web2.0: Dynamic
  • Web3.0: Decentralized

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Web 1.0

It first came to be in the 90s (1993). It was mainly a way one communication between the website owner and the users with the use of technologies like HTTP (HyperText Transfer Protocol), URL (Uniform Resource Locator), and HTML (Hyper text mark up Language).

Such websites were full of static “read-only” web pages that couldn’t be interacted with. In other words, you get on a website to get information, but users were unable to give information back to the website.

Web 2.0

Advancements in web technology gave rise to web2.0 in 2005, information sharing became a two-way channel “read-write” web. The introduction of technologies like HTML5, CSS3, REACT, JAVASCRIPT, and the rest, gave rise to social media platforms like Facebook, LinkedIn, Twitter, Instagram, and many more in which users could upload their videos, pictures, personal information, etc.

Centralization became an issue in this phase as tech firms like Microsoft, YouTube, Facebook, Google, and Twitter were (are) in control of massive user data and content.

Web 3.0

It promises to offer an ungoverned read-write web in short it can be termed a decentralized internet Web3.0 commonly referred to as the decentralized web, is characterized based on technologies such as artificial intelligence, the Internet of things, 3D Graphics, machine learning, and blockchain.

The recent hype around web 3.0 can be traced to the rise of NFTs and another buzzword known as metaverse, which was propelled by Facebook's recent interest in the metaverse and the change of company name by Ceo Mark Zuckerberg from Facebook to meta. Web3 is the decentralized future, where decentralized data is spread across several blockchain nodes, decentralized in the sense that no person or entity has control over it.

Users, gadgets, and systems in smart workplaces, smart homes, and smart cars will all be able to communicate with each other directly over Web 3.0. Machines will also help in the content development process, which should result in the distribution of more high-quality information. Internet users will transition from being products to owners in the Web 3.0 era as a result of technologies like non-fungible tokens (NFTs), which will allow content producers to genuinely own their digital output.

What Differentiates The Three Phases?

What differentiates between Web 1.0, Web 2.0, and web3.0 is that Web 3.0 is decentralized and Web 1.0/2.0 is centralized. Decentralization offers a means of escaping the dominance of some major media companies while also preserving user privacy and information ownership.

With Web 1.0 and 2.0, user data were used for the Company's profit. On the other hand, the collaborative nature of Web 3.0 and the participation of independent developers help prioritize user security.

Features Of Web3

There are a lot of features of web3.0 but in this article, we will be considering a few of them.

Decentralization

In contrast, data is decentralized in web 3.0, meaning users will own their data. Different data generators can offer or exchange their data using decentralized data networks without giving up ownership, endangering privacy, or depending on middlemen. Using Internet Identity, allows you to log in securely while avoiding being tracked.

The term "DAO" refers to a web3 concept that describes a group, business, or collective that is constrained by laws and regulations written into a blockchain. For instance, in a DAO-based store, the price of each item and information on who would receive payouts from the company would be stored on a blockchain. The DAO would allow shareholders to vote on changes to prices and the distribution of funds.

No one, however, is allowed to alter the regulations without authorization. And no one who controlled the physical infrastructure, such as the proprietors of the servers or the buildings where the money was kept, was permitted to meddle in any way, including stealing the money! Importantly, DAOs theoretically do away altogether with the need for many of the "guys in the middle" necessary to run a business, including bankers, attorneys, auditors, and landlords.

Trustless

Users have the flexibility to engage both openly and privately on the network without a third party putting them in danger, leading to "trustless" data.

Semantic Web

The semantic Web is thought to be the path to the information age's boom since it enhances web technologies and makes it easier to distribute and connect content.

Additionally, as the Semantic Web develops, computers will be able to comprehend internet data directly. It will accomplish this through understanding the meaning behind words rather than decoding content using numbers or keywords. It will improve the usability of the web as part of Web 3.0.

AI And Big Data

In Web 3.0, machines will be able to distinguish between and assess information similarly to how humans do to produce better, more meaningful results. This implies that the computer has used artificial intelligence and natural language processing to process data similarly to the user, fulfilling the user's requirement.

3D images

Web 3.0 makes extensive use of three-dimensional designs to create incredibly dynamic websites. Examples of 3D graphics on Web 3.0 include computer games, online shopping malls, and museum tours. Web 3.0 is expected to be a three-dimensional internet with the utilization of avatars and virtual reality. In operations, augmented reality will be the standard.

Connectivity

Web 3.0 will give the same content across several applications, and services will be available on various devices that can be accessed from anywhere. As a result, all of the information required by an organization during its operations is available and can be accessed from numerous devices around the world.

Blockchain

Simply explained, a blockchain is a digital ledger or database that is duplicated and distributed throughout a network. Information is organized into categories known as blocks. Since blockchain resolves the majority of Web 2.0's problems, it forms the foundation of Web 3.0. Web 3.0 users have complete dominance and control over their data thanks to blockchain. The network will encrypt all data transfers to keep it safe.

More specifically, because it redefines the data structures in the semantic web's backend, blockchain is the basis of web3. The decentralized state machine, known as a blockchain uses intelligent contracts. These smart contracts specify how a web 3.0 application should function. Therefore, anyone who wants to create a blockchain application must deploy it on the shared state machine.

Metaverse

Metaverse is the next step of internet evolution, which can be accessed by the various access points (of which the most common access point is augmented reality and virtual reality). Like most virtual games, the metaverse can be likened to an internet you are inside (an internet brought to life in a 3d format).

More importantly, the metaverse is a world of limitless virtual connections where people can meet to relate, work, play, and attend seminars or concerts. To surprise you, you can try on a digital cloth surprised yeah, this, and a lot of other things, makes metaverse unique. Metaverse has become quite a buzzword since Facebook recently rebranded by changing its name to ‘Meta’.

Examples of Web 3.0 applications

  1. Bitcoin

  2. Steemit

  3. Opensea

  4. Augur

  5. Lbry

  6. EThlance

  7. Apple’s Siri

  8. Uniswap

  9. Wolfram Alpha

Advantages Of Web3

  • Sharing of knowledge becomes easier
  • Web browsing becomes more efficient
  • Adequate and efficient search results
  • It gave control of data sharing to the user

Disadvantage of Web3

  • It will make web1.0 obsolete
  • High-grade gadgets will only access it
  • It is quite hard for beginners to understand
  • Easy access to the user's public/private information

Conclusion

Adoption of web3 into all aspects of the web might take a while, but in the end, web3.0 will become the crux of the internet. I would also love to know your thoughts about web 3.0, kindly drop them in the comment section.

Cover Photo Credit:Web3