Web 3.0: the future of the internet: how did it start?

 Web 3.0 is likely to be just as disruptive as Web 2.0, leading to significant paradigm shifts. Fundamental ideas of decentralization, openness, and enhanced usability for consumers constitute the footing of Web 3.0. Web 3.0, more commonly known as Web 3, is the successive stage in the evolution of the internet. Suppose a unique kind of internet that correctly translates what you type, comprehends what you communicate, and makes all the content you consume more personalized than ever, whether text, voice, or other media. This is about to enter a new era with the evolution of the internet.

 

What are Web 3.0 technologies and tools?

 Open-source software is used to build the content platform. Zero Trust for everyone, network protection reaches the edge. Interactions between devices, users, and services are possible without the approval of a centralized authority. Blockchain technology will allow users to communicate directly on the next stage of the internet. Users share by becoming part of a Decentralized Autonomous Organization (DAO), a group operated and owned by the community. Data belonging to users is protected through a network of openly available smart contracts. These contracts are stored on the blockchain, making it a decentralized network controlled by nodes. There are numerous predictions about Web 3.

 

● All transactions are tracked on a distributed ledger using blockchain technology, and data transfers are decentralized.

● Blockchain technology enables consumers to instantly create digital goods and non-fungible tokens (NFTs) that protect intellectual property and personally identifiable information (PII).

● Smart contracts, available to everyone, free people from relying on centralized organizations, like banks, to maintain data integrity.

● The entertainment sector will significantly increase revenue from the Metaverse.

 

AI, the semantic web, and ubiquitous nature can all be considered when designing Web 3.0. The rationale for AI is to give users faster access to more accurate data. A website powered by artificial intelligence (AI) must be able to organize data and present information that may be useful to a particular visitor. Given that the results are user-selected websites, social bookmarking as a search engine can yield better results than Google. However, humans can also manipulate these results. If you provide comparable results to social media or bookmarking but no negative feedback, AI can distinguish between authentic and fake results.

 In artificial intelligence we will also introduce virtual assistants, a component already famous as an integrated aspect of devices or via third-party apps. The Semantic Web aims to organize and store data in a way that can tell systems what certain information means. To develop and distribute better content, websites must be able to understand language in the same way humans can. AI can process data into facts only if it comprehends the information.

 

What are Web 3.0 characteristics?

 The Semantic Web is the development of online technologies that enable people to create, share, and connect with materials through search and analysis. It focuses on understanding words rather than using numbers and keywords. We use machine learning and artificial intelligence. The result is Web 3.0 shaping, more innovation, and receptivity to user demands. Combine these ideas with natural language processing (NLP), and you have a computer that uses NLP. It shows how the Internet of Things connects different devices and applications (IoT). Semantic metadata makes this procedure possible, allowing efficient use of all available data.

 In addition, anyone can access the internet anytime, anywhere, without a smart device such as a personal computer. This allows users to interact publicly or privately without being compromised through a third party, providing "untrusted" data. 3-D graphics are used. This is already apparent in virtual tours, e-commerce, and computer games. This facilitates participation without requiring consent from the governing entity. Blockchain video games adhere to NFT ideals by allowing users to take actual ownership of in-game resources. The application uses zero-knowledge proofs and more secure personal data. Peer-to-peer smart contracts, digital financial transactions, and cryptocurrencies are examples of this. It serves as an autonomous decentralized organization since communities own communities.

 

What is Web 2.0?

 If Web 1.0 consisted of a small body of individuals creating material for a broader audience, Web 2.0 consisted of many individuals producing even more content for an expanding audience. Web 2.0 is more about participation and contribution than Web 1.0 is about reading. UGC, or User Generated Content, interaction, enhanced connectivity, and ease of use with other systems and devices are the primary focus of this Internet form. Web 2.0 is all about the user experience. As a result, this web form was responsible for establishing social media, collaboration, and community. Web 2.0 is therefore considered the primary web interaction for most users today.

 Web 2.0 was called the "participatory social web," and Web 1.0 was called the "read-only web." Web 2.0 is an improved and extended version of its predecessor by incorporating web browser technologies such as JavaScript frameworks. The typical characteristics of Web 2.0 can be categorized as follows:

 

● Use a developed application programming interface (API).

● It facilitates self-use and promotes forms of interaction such as social networking, podcasting, social media, blogging, commenting, tagging, RSS curation, and web content voting.

● Includes dynamic content that responds to user input

● Delivers accessible data sorting, enabling users to search and sort data collectively

● Utilizes an expanded application programming interface (API)

● Use developed information. It is used by society and not just by specific communities.

 

Key features of Web 3.0

 Web 3.0 has yet to be formally defined, but it has some distinguishing features. A fundamental principle of Web 3.0. In Web 2.0, a computer uses HTTP to retrieve data stored in a fixed location (usually one of its servers) in the form of a web address. In Web 3.0, information is discovered based on content rather than in a single location so that it can be stored in many places simultaneously and distributed. This would provide people more control by disassembling the extensive databases supported by internet moguls like Meta and Google.

 Web 3.0 will allow users to sell their data through decentralized data networks and maintain ownership control. Various powerful computing resources include mobile phones, desktop computers, appliances, cars, sensors, and, more generally, this data. Decentralization and open source software-based Web 3.0 is trustless (meaning that participants can interact directly, without a trusted intermediary) and permissionless (meaning that individuals can access without permission from a governing authority). This means that Web 3.0 applications, also known as dApps, work on blockchains, decentralized peer-to-peer networks, or a hybrid of the two. Such decentralized apps are called dApps.

Web 3.0 will leverage the semantic web and natural language processing-based technologies to enable machines to understand the information like humans do. Web 3.0 will also take benefit of machine learning, a subset of artificial intelligence that utilizes data and algorithms to simulate human knowledge, slowly enhancing its precision. In addition to targeted advertising, a large part of our current efforts, these capabilities will enable faster and more relevant results in areas as diverse as medical development and new materials. Web 3.0 has made content and information more accessible across applications, increasing the number of standard devices connected to the internet. The Internet of Things is one example.

 

Layers of Web 3.0

 Web 3.0 is driven by its four new layers of innovation.

 

Edge Computing

 Web 2.0 changed the personal computer technology currently commoditized in the data center, but Web 3.0 pushes the data center to the edge (edge computing) and puts it in our hands.

 

Distributed Data Network

Users own their data on Web 3.0 because the data is decentralized. Data producers can sell or share data without losing ownership or relying on mediators using a decentralized data network.

 

Artificial Intelligence and Machine Learning

Machine learning and artificial intelligence algorithms have progressed to the point where they can make valuable and occasionally life-saving forecasts and measures.

 

Blockchain

Blockchain is a decentralized technology that utilizes smart contracts to accomplish transactions. These smart contracts depict the semantics of Web 3.0 applications. Consequently, everyone who desires to design blockchain applications should employ a shared state machine.

 

How will Web 3.0 work?

 

Data Ownership

When you use platforms like Facebook and YouTube, these companies collect, own, and manage your data. Your data is stored in web3's cryptocurrency wallet. With web3, you interact with apps and communities through your purse and carry your data when you log off. You are the data owner, so in theory, you can choose whether or not to monetize it.

 

Pseudonymity

Privacy, like data ownership, is a feature of wallets. Wallets act as identities in web3 and are difficult to associate with genuine identities. Therefore, even if someone can observe your wallet activity, they will not be able to identify your wallet. Some services help customers connect to cryptocurrency wallets used for illegal activities. However, your individuality is hidden for daily use. Wallets add privacy to your Bitcoin transactions, while privacy coins like Zcash and Monero give your transactions complete anonymity. Privacy Coin's blockchain allows observers to track transactions but not view the associated wallet.

 Web3 is characterized by decentralized autonomous entities that run apps (DAOs). As a result, decisions are not made by centralized bodies but by users who own the governance of their tokens, which can be obtained by participating in or purchasing the maintenance of these decentralized programs. In a typical company, the CEO is responsible for implementing changes approved by shareholders. DAO token holders can vote on changes that, if approved, will be immediately incorporated into their DAO's code via Smart Her Contracts. DAO is democratized so that anyone can access her DAO's source code.

 

How will Web 3.0 change our lives?

 Web 3.0 is meant to produce sustainable outcomes through its decentralized nature enabled by distributed ledger technology and smart contracts. It also reduces costs by eliminating mediators, manual mediation, and arbitration. Web 3.0 offers a more personal surfing experience for everyone. Websites will automatically adjust to device, location, and accessibility needs, and web apps will be much more receptive to our usage patterns. We believe that the advent of Web 3.0 will improve our lives for three reasons:

 

A more personalized browsing process

 Regardless of how intrusive these ads can feel, denying yourself the ease of quickly clicking through to specific offers you need or want that you might otherwise have missed.

 

Search improvements

 As already mentioned, using search engines with natural language is very effective. The benefits extend far beyond the consumer, as the learning curve virtually disappears, and websites can be optimized for search engines more organically rather than using complex keyword techniques.

 

The more advanced app interface

Multidimensional Web 3.0 is more than just websites. It also enables web apps to offer a much richer experience to their users. Think of a mapping service like Google. In addition to primary location finding, the service includes route planning, accommodation suggestions, and real-time traffic updates. However, in the Web 2.0 era, this was not possible.

 

Primary uses of Web 3.0

With blockchain at its core, Web 3.0 will enable an expanding range of new apps and services, such as:

 

NFT

A non-fungible token (NFT) is a token that is individually unique and held on a blockchain using a cryptographic hash.

 

DeFi

DeFi or Decentralized blockchain technology is utilized as the basis for Decentralized Finance (DeFi), a unique use case for Web 3.0 that allows the requirement of financial services outside the limitations of conventional centralized banking infrastructure.

 

Cryptocurrencies

Through Web 3.0 apps like cryptocurrencies such as Bitcoin, a new world of money is emerging that is distinct from traditional fiat currencies.

 

dApps

Decentralized applications (dApps) are programs executed programmatically and recorded in an immutable ledger. They are built on the blockchain and use smart contracts to facilitate service delivery.

 

Chain Cross Bridge

There are many blockchains in the Web 3.0 era, and a cross-chain bridge provides a connection between them.

 

DAOs

DAOs may serve as governing bodies for Web 3.0, providing structure and decentralized control.

 

Pros and Cons of Web 3.0

 

Advantages 

● From a data security perspective, end users benefit most from data encryption.

● Data storage is decentralized so that users can access data in any situation. Users receive multiple backups to help in case the server crashes.

● Most blockchain systems are developed by non-profit organizations that provide open-source blockchain platforms that enable collaborative design and development.

● Data is served on any device from any location.

● Web 3.0 helps problem-solve and mass knowledge generation tasks.

 

Disadvantages

● To make technology accessible to more people worldwide, we need to expand the functionality and quality of our devices.

● Websites built with Web 1.0 technologies will become obsolete when Web 3.0 is fully implemented on the internet.

● Web 3.0 technologies are more intelligent, efficient, and accessible than previous generations. However, this technology still needs to be improved for general use.

● Reputation management has become more critical than ever as Web 3.0 makes information easier for users and less private.

 

The future of the internet

The world is moving towards an internet that allows people to control their data and privacy while allowing companies to abuse it (or not). All of this is made possible by blockchain technology. Consequently, Web 3.0 facilitates the appropriate and transparent use of users' information, such as personalized search results, 3D graphics, and cross-platform development tools. Over the next few years, the internet will become more immersive and engaging.