What is Web 3.0?
The term “Web 3.0” refers to the newest version of the internet, which is now developing. The goal of Web 3, also known as Web 3.0, is to establish a network that is entirely independent of any central authority. To address the issues plaguing the modern internet ecosystem, that modern technological era was committed to harnessing the potential of artificial intelligence (AI), machine learning, plus cutting-edge technologies such as blockchain.
How is Web 3.0 going to be different from the previous versions of the web?
The initial version of the www, known as Web 1.0, was a simple version of the internet. Users were limited in their ability to do anything useful or creative with it. Users are restricted to reading content already posted on the websites. With the advent of Web 2 0, the current iteration of the internet, users were given more leeway. With web 2.0, users could do more than just consume material online; they could also create it, share it, and receive it in various formats, including text, images, and videos. It seems that Web 3.0 will significantly improve over the internet as we know it now.
Web 3.0 is a term for the next generation of the internet, which will be a more accessible and open system. Web 3.0‘s usage of blockchain technology has the potential to alter the internet as we know it drastically. Put another way, and it might introduce a new dimension to the web. NFTs will facilitate the buying, owning, and selling of digital content, providing individuals with a means to monetise their creations. Smart contracts and decentralised applications (DApps) are only two examples of how blockchain technology will be put to use once Web 3.0 has gained widespread acceptance.
What will be the primary features of Web 3.0?
The goal of Web 3.0 is to make the web a more intelligent place. The internet will become more user-friendly, sophisticated, and capable of providing individualised services in the next generation. It will drastically alter the current state of the internet as we understand it. Understanding the potential shifts in Web 3.0 requires familiarity with its two primary pillars/features:
- Artificial Intelligence –
Web 3.0 can understand human sentiment and cognition as one of its significant features. Data and material will be filtered, and search engine results will be individualised based on the user’s preferences, all with the help of AI.
- 3D Graphics –
With the advent of Web 3.0, cutting-edge graphics technology will be implemented, finally allowing for a truly immersive, three-dimensional virtual experience. With the advent of 3D graphics, the internet will become a more interactive and engaging place for users while facilitating the transformation of many industries, including medicine, retail, architecture, and more.
What role will blockchain technology play in Web 3.0?
Web 3.0, enabled with blockchain technology, has the potential to do many useful things for the internet. Using blockchain technology, the overall efficiency of financial transactions can increase. Blockchain technology can drastically alter the internet’s future and how we are familiar with working with it, from Bitcoin’s early days, when it could process only seven transactions per second (TPS), to today, when it can process 50,000 TPS using Solana. If used correctly, blockchain technology can enhance not only the digital payment sector but the digital health service sector, the distribution network sector, and numerous other crucial areas of the market. The manner we use and think about social media platforms may also be drastically altered by blockchain technology.
Web 3.0 and blockchain technology hold many exciting prospects, but it will take much longer than we now anticipate for these innovations to be widely adopted and put into practice. It’s important to remember that blockchain, like any other, isn’t perfect. Therefore, unless these issues are resolved, widespread adoption of blockchain technology will be a bit of a difficulty. Web 3.0‘s mainstream adoption and the associated disruptions to our established norms are still a matter of speculation. However, one thing is sure: the Internet’s future will be fascinating.
How does Web 3.0 work?
Hypertext Markup Language (HTML) determines how a website looks and how it’s delivered via Web 1.0 and Web 2.0 technologies. Web 3.0 will still rely heavily on HTML, but it may move its core layers and data sources around a little from previous web versions.
In the current Web 2.0 era, a centralised database is used by many websites and practically all applications to store and provide data and enable functionality. Instead of relying on a single server to store all of their data, Web 3.0 apps and services will employ the distributed ledger technology known as the blockchain. Regarding blockchain, decentralisation and consensus-based decision-making are prioritised over centralised authority.
To a greater extent than fiat currency, Web 3.0 functions fundamentally with cryptocurrencies. Blockchain technology underpins the entirety of the cryptocurrency industry and the decentralised payment system it enables throughout the entire Web 3.0.
IPv4 addresses were used extensively in the development of both Web 1.0 and Web 2 0. More IPv6 addresses are required for Web 3.0 due to the exponential web expansion over the years.
Web 3.0 vs Web 2 0, Which is better?
Web 3.0 differs from Web 2.0 in that it places a stronger emphasis on personalised content discovery through the application of machine learning and artificial intelligence. Web3 is expected to delegate content creation and curation to the semantic web and artificial intelligence technologies, whereas Web 2.0 encourages user participation in these processes. In stark contrast to the centralised nature of Web 2.0, Web 3.0 focuses on decentralised services and authority.