The term Web3 is creating quite the buzz lately, especially among those interested in technology, cryptocurrency, and venture capital. Here’s an introduction to what some people are calling the internet of the future.
Introduction
Have you ever thought of a form of the web that will not only interpret your input perfectly but also understand what you want to convey better? Are you wondering if it is even possible, then let us tell you, yes. We are at the tipping phase of an entirely new form of Web 3.0. Now, you might be thinking, what is Web 3? There is a long list of the perks of actively using Web 3.0. In this article, we will get to the bottom of web 3.0 s, how it functions, its features as well as the benefits. Stay with us till the end!
What is Web 2.0?
Since the last 15 to 20 years, we have eventually shifted from Web 1.0 to Web 2.0’s social connectivity, interactivity, and user-generated content. Web 2.0 is the recent version of the website built with the aim to highlight
interoperability and usability for end-users. Web 2.0 isn’t any modification of previously used techniques. Instead, it is just the modification of how web pages are designed, viewed, and used by end-users.
Major Features of Web 2.0
- It facilitates the sorting of information. The users can receive data and classify it as they wish.
- The content displayed to users is responsive to the input provided by users.
- The information uploaded by site owners is churned out by search engines, which is displayed to the end-users. The flow of information goes from publisher to end-users through proper evaluation.
- The APIs developed in Web 2.0 allow self-usage.
What is Web 3.0?
Web 3 meaning is quite simple. Web 3.0 is the evolved form of interaction and utilization of the web, altering the current web into a database form. Unlike Web 2.0, which focuses on the front end of web pages, Web 3.0 focuses and upgrades the back end of the web. The data provided in Web 3.0 is not owned by anyone instead, it is just shared.
The Semantic Web (3.0) is focused on providing information to users in a more relevant way than Google itself. In addition, the new introduction of technologies is expected to make the process smoother and more effective in the long run.
Blockchain is changing the way data is stored and managed. Basically it creates a layer of governance on top of the internet today, popularly known as Web3. This allows two people who are not acquainted with each other to reach and settle agreements online. example of a Web 3 application as a peer-to-peer payment app that works on blockchain. Now rather than using a bank, people could pay for a good or service using a decentralized application (Dapp). But, before a transaction can be finalized, it is first verified by the network and logged in the blockchain’s digital ledger.
Major Features Of Web 3.0
To understand Web 3.0 better, we need to get down to the features of web 3.0 in detail. Below we have curated a list of the essential features that can guide you through the details.
Semantic Web
Now, what does that mean? The semantic web used upgraded technologies to comprehend the meaning of the input provided by the user rather than making decisions based on the keywords. The use of artificial intelligence offers the capacity to distinguish information like human beings. As a result, the results-driven from Web 3.0 is faster and more relevant.
Data Privacy
In the last couple of years, data privacy has been a top challenge for several countries. One of the crucial features of web 3 is the data privacy of a user. Web 3 brings back the power to the users and makes the web a more secure, open, and flexible platform. In fact, the user can revoke the data they shared anytime. This doesn’t mean that the information doesn’t get shared. There will be transparency of how and where the data is used.
Ubiquitous
In Web 3.0, the internet will be accessible to everyone, regardless of location and time. Unlike web 2.0, the limitation of connectivity will no longer be bound to smartphones and computers. The introduction of IoT enables the development of entirely new types of gadgets altogether.
What is the difference between web 2.0 and web 3.0?
The main aim of introducing Web 2.0 was to present people with the data they were interested in. However, due to the decentralized network, Web 3.0 makes it even better by adding meaning to this data and enhancing the trust of individuals in the information. For more clarity, we have compared web2 vs. web3 on the following basis.
Cryptocurrency, NFTs and DAOs
The fact that Web3 is heavily backed by the cryptocurrency community implies that cryptocurrencies like bitcoin and NFTs (non-Fungible Tokens) will play a key role in the new internet economy. The concept of Decentralized Autonomous Organizations (DAO) refers to a collective or company without a traditional management structure. The DAO functions according to the rules encoded into the blockchain could boost innovation and entrepreneurship. These organizations would be collectively owned by shareholders and would be autonomous and transparent in nature paving the way for creating companies faster and without bureaucratic hurdles or relying on platforms owned by big tech. This would facilitate the creation of decentralized apps (Dapps) where fees are paid in tokens which in turn plays a key role in operating the DAOs.
AI and Metaverse
Artificial intelligence (AI) is an important component of Web3 as the concept involves a lot of machine-to-machine interactions and autonomous decision-making. AI algorithms can substitute humans for the performance of various tasks which is very much in sync with Web3 trends. Like Web3, the metaverse is being predicted as the next iteration of the web, a network of virtual worlds where users can interact using 3D avatars for most collaborative and social activities. While technologies like Virtual Reality (VR), Augmented Reality (AR) can provide an immersive and persistent internet, Web3 technologies such as blockchain, cryptocurrencies, and NFTs can form the bedrock as well as facilitate interoperability. In many ways, the metaverse is the front-end while Web3 technologies and AI provide the infrastructure and applications.
What Are the Basics of the Metaverse?
What is the Metaverse? No discussion of Web 3.0 is complete without it. The metaverse is a shared digital space typically populated by people using an avatar. At the moment, there are many different implementations of this general idea. And each take on the concept uses some, or all, of the technologies used in Web 3.0.
Decentralized technologies like the blockchain are especially common. They’re often used for business or with NFTs. Non-fungible tokens can protect a digital avatar’s designs or persona.
People often assume that they’ll need expensive virtual reality systems to use the metaverse. But even smartphones and standard browsers can access aspects of the metaverse. Of course, the best experience is fully immersive and will use VR technologies.
This is only scratching the metaverse’s vast surface. The latest metaverse information can be found in the article “Metaverse Guide; Understanding The Basics Will Open Up a New World”.
How Do the Metaverse and Web 3.0 Work With Each Other?
The link between the metaverse and Web 3.0 can become clearer by thinking about how the metaverse operates. The metaverse is essentially a system built on a foundation of advanced networking. Much as a website is built onto Web 2.0, the Metaverse is built atop Web 3.0.
The concept can be extended to geographic areas in the real world. Building on the plains automatically lends aspects of the area, such as a temperate climate. Building in lusher regions provides more, like beautiful hills. Likewise, building the metaverse atop Web 3.0 opens up more capabilities than websites using Web 2.0.
For example, digital asset management or sales are easily leveraged in the metaverse. This is due to blockchains making NFTs and cryptocurrency sales easier to implement. The decentralized nature of Web 3.0 also makes it easier for virtual resources in the metaverse to scale.
Web 3.0 is built on easily defined technologies. But the ways developers weave them together are essentially limitless. Web 3.0 is everything from video streaming to the metaverse. But more than anything else, this exciting technology is the Internet’s future.
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