Welcome to the new era of digital data ownership. Make yourself comfortable. We are all equal here. The global web, as we know, is changing. Web 3.0 is on the horizon, and nothing can stop it. Let’s have a look at what it is.
What Is Web 3.0?
The definition of web 3.0 varies depending on who you are asking, but generally, considered as the third generation of the internet. We also know Web 3.0 as a semantic web or local web. If you break the Internet into sections with the first one into simple web pages and the second into applications, social media, and mass acquisition, the growing blockchain-based web will be Internet 3.0. The Internet is easier to use, more secure, and more connected.
Web 3.0 uses blockchain technology to create real segregation. Not only will this be the latest step in Internet technology, but it will also be the first step towards the Metaverse. Appropriate Metaverse, with digital data ownership by NFTs, can only occur on web 3.0.
This third generation of the internet will connect devices to a spatial network rather than relying on a server-based website. It will not require us to store all our data on central servers, instead, we will own it independently. We can choose what we will do with it.
A brief history of the Internet
Web 1.0 was the first generation of the Internet. This included basic web pages that were accessible and commercialized for the first time. Protocols such as HTTP, HTML, and XML appear at the beginning of the global web.
Web 2.0 (2006–present day)
Web 2.0 has led to changes in the way we access the world wide web. Now we can go with our phone and have more apps at our fingertips, with hundreds of new ones being added to the app stores every day.
Web 2.0 is also responsible for putting our data in the hands of large medium-sized companies. Web 2.0 catches up in a destructive and oppressive cycle. Lost touch with the original concept of the internet – a web divided into a place where network participants equal to the central control no longer exist. It required a significant change to get back on track.
Why is Web 3.0 important?
Web 3.0 enhances web features 2.0 and expands upon them optimally. When you compare Web 2.0 vs Web 3.0, web 3 websites will be much more immersive and easier to use, while maintaining security and privacy on personal data.
To make 3.0 websites unauthorized and unreliable, peer-to-peer networks or blockchains (or both) will create decentralized applications (dApps).
The development of decentralized social media platforms will be something to be considered. Without the need to promote endless scrolling (data collection), social media can benefit humanity rather than divert its attention.
User-generated content on Web 3.0 can detect the boom of creativity, as there will be no central authority controlling the distribution of content creators’ work, and content creators will always keep ownership control. With no central governing body, the political process will fall by the wayside, too. Most people can probably earn money – or cryptocurrency – from content creation.
How will Web 3.0 work?
Web 3.0 tokens are important for a decentralized internet. This is because blocking the blockchain costs gas fees. To get your data ownership, web 3.0 will probably incorporate some sort of small payment method to publish data to the blockchain.
It will require this instead of exploitation and other targeted advertising from third parties that use your data against you. To pay less, you may choose to sell your data to advertisers. You will still own your data, but you will still be able to provide access to certain things that advertisers may use to create targeted advertising campaigns. This may not sound very different from Web 2.0, but in this, your data is under your control. You can choose what you keep private with what you sell. And then, of course, you are the one making the profit, not the Big Data companies.
Without web 3.0 cryptocurrencies, blockchain technology will not work. Just as we require gas to send an ERC20 token to the Ethereum network, the same rule governs many blockchains. Some – like Elastos – thankfully have a much cheaper gas cost than Ethereum, but if we store something on a blockchain (even data) it requires gas to run.
Web 4.0 is very hard to imagine as we have not yet seen the full potential of Web 3.0, but it is possible that Eric Schmidt, chairperson of Google, is right, and “the Internet will disappear.” By this, he meant it would become so absorbed in our daily affairs of life that we simply stop noticing it. Like a fish with water, society will use it so much – rely on it, even – so much that we forget it exists.
If this were true, intelligent search engines and other forms of artificial intelligence would be everywhere. This is one of the main reasons it is necessary to distribute areas and needed urgently. With a central control code, the Internet can end up in disaster.
Web 3.0 Benefits
Web 3 technology will improve dramatically on Web 2.0. Here is a list of a few of the benefits of Web 3.0 that we can expect to see soon.
- Decentralization: Web 3.0 will not promote centralized networks. This is the key to a fair and credible democracy of any kind. It will be transparent. Imagine a day when governments were using distributed ledgers to hold people accountable for their actions.
- More Privacy: Web 3.0 will focus on privacy and security instead of control and monitoring. It will enable you to choose which data you would like to share and which you would like to keep to yourself.
- More Security: Web 3.0 will be much more secure than previous internet duplicates. This will be done through blockchain technology and its distribution environment.
- Data ownership: Trust will be naturally on web 3.0. You will not always have to provide your data to large companies. Instead, it will be yours.
- Ubiquity: We can access the same information and data across multiple applications without the need for a single device.
- Interoperability: Developers will find it increasingly easy to build a new dApp, which will work on all smart devices, from televisions to laptops to phones, as well as smart cities.
- No Interruptions: Distributed systems are less likely to experience service interruptions because there is no central authority, so there is not a single point of failure. If one node fails, all the others continue.
So, you have something. We are on the verge of a real online revolution. While it is true that there are a few challenges to using Web 3.0, the new inventions that can bring it into our lives are truly amazing. While there is a lot of deception, we still need some practical features of Web 3.0 to really understand the positive changes it can bring to our lives.
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