Web 3 – also known as “Web3″ or “Web 3.0″ is the next leap in the world of the internet. It’s the next paradigm shift in the way we digitally communicate with the world.
Currently, the internet that the vast majority of us know and use is Web 2.0. Considering how good is Web 2.0, the bar is set high for Web 3.0.
But what exactly is Web 3.0? Well, that’s what we are going to explain today. Web 3.0, if done properly, would be a game-changer in the internet industry.
So without further ado, let’s start with understanding what is web 3.0
History of Web
Web 3.0 will be built on the strong foundation of cryptocurrencies and blockchain technologies.
Even though current adoption is non-existent, the technology itself is very strong. Before we can understand what is Web 3.0, let’s go back in time and get acquainted with Web 1.0 and Web 2.0
The Internet started as a bunch of web pages accessible through hyperlinks. It was majorly content consumption and didn’t involve content creation or interaction with the content itself.
It was fairly basic from today’s standpoint. Technologically speaking, the front end was basic text with no design.
Web 1.0 was popularized in the 1990s and very early 2000s. But that’s about it.
Though it wasn’t useless by any means. It was the foundation of many technologies that are used even in Web 3.0. These include HTML, HTTP, and URLs.
HTML is the language that is used to construct any given page. HTTP is a protocol for sending and receiving information on the web. A URL is used to define a unique location for everything on the internet.
As Web 2.0 came onto the scene, it literally swept off the entire Web 1.0 world.
Web 2.0 came with the ability to interact with websites, the ability to read as well as write. The front was now far more dynamic as well. Internet, social media, and a lot more emerged with Web 2.0.
Web 2.0 is what we use to this day. We barely see Web 1.0 on the internet these days. That’s because Web 2.0 is extremely effective.
It’s working great, but Web 3.0 can take it to the next level.
What is Web 3.0?
Web 2.0 was about reading and writing. Whereas, Web 3.0 is about reading, writing, and owning the content. The rise of Web 3.0 is fueled by cryptocurrencies and blockchain technologies.
Blockchains to this day are majorly used for matters related to Cryptocurrencies and NFTs. But the technology is capable enough to be used in the mainstream to build a better internet.
What are the problems of the current Web? At first thought, you’d consider it to be perfect. But, look closely. You’ll see some problems.
So, let’s take a look at Why Web 3.0 Matters?
- Performance: The web is not good for bigger tools. Web pages are smaller and can’t really compete with real applications.
- Security and Context: It’s far easier to fool a person with scams and frauds. Moreover, the web itself isn’t smart enough to understand the context of the page.
- Intermediates: Today any online transaction requires intermediates that often take quite a lot of charges.
- AI and ML: Web today has absolutely zero support for direct utilization of AI and ML. You can’t build a Siri/Alexa/Google Assistant for web
That’s why Web 3.0 is the next generation of the internet. Web 3.0 opens a whole new world of possibilities.
Web 3.0 allows you to own digital content and have proof of ownership in the form of a “token”. This means you could become a stakeholder in any given content on the internet by investing in it.
What are the Benefits of Web 3.0
So, now, you might be wondering, why do we need Web 3.0 and what are the benefits of Web 3.0.
Web 3.0 would leverage blockchain technologies and many other modern standards. As a result, the main benefits of Web 3.0 are:
PWAs or Progressive Web Apps are web pages that can be installed as apps. Today this technology exists in Web 2.0. Many websites offer users the option to install a Progressive Web App, which is a hybrid of conventional apps and websites.
Web 3.0 might bring better support for it, which will eliminate the need to install most of the apps, and directly use the PWAs, that are lightweight, easier to install and high on performance.
Better Financial System
Web 3.0 could revolutionize the financial system. Today, cryptocurrencies are majorly used as investments or for fun. But they have serious advantages, including faster transfer times, fewer transaction fees, and overall safety.
Web 3.0 could make cryptocurrency the defacto for online purchases, transactions, and more.
This will help stop financial scams, allow quicker transactions and overall improve the e-commerce experience for users of Web 3.0.
So, Web 3.0 allows you to be an owner in the world of the internet. Its main benefits include the added privacy and security features that allow storing digital assets online without any risk.
They enable us to own digital assets and tokens. So, you could buy or sell digital art, tweets, Instagram posts, or anything else that’s digital.
The NFT could become the modern equivalent of art auctions.
Today, Artificial Intelligence is the flag-bearer of humanity’s technological advancements. Web 2.0 wasn’t really built with AI in mind.
As a result, it’s quite hard to use AI with Web 2.0. That’s why it is likely that Web 3.0 will embrace Artificial Intelligence, for its working.
Today, YouTube channels, blogs, and other content are just owned by people or organizations.
But, in the future, it might be possible to own stake/shares in such places thanks to Web 3.0.
So, if you like a new YouTube channel, you could invest in it and own a stake in that property. This would allow people to collaborate, provide feedback and build better online communities.
The possibilities are infinite. Web 3.0 is the future, there is no doubt about it.
There is no clear definition of having a distinction between Web 2.0 and Web 3.0, but there are certain characteristics of Web 3.0 that make it useful.
Hopefully, it would be really good, and make our lives better than ever before. What else would you like to see in Web 3.0? Did I miss anything? Let me know in the comments below.