What is Web 3.0 and What Kind of Changes Does It Bring ?

Every technology that we utilize consistently undergoes changes as well as developments, as developers and companies globally are aiming to push innovation and provide each user with something better.

When the internet was introduced for the very first time, it created a fundamental shift in the way people view and search for information, as well as how they communicate with one another.

Today, we utilize the internet for just about anything, from blog content creation or consumption to eCommerce to even blockchain technology, all of which were nearly impossible to do just a few decades ago.

However, the web is evolving yet again, and this time, in the form of Web 3.0.

As such, we will be going over just about everything you need to know when it comes to this new iteration of the web and what changes it brings with it.

Why We Need Web 3.0

Web 3.0

Web 3.0 is essentially a term utilized to describe the prediction of what the internet will look like at some point in the future.

We are currently at the forefront of Web 3.0, with numerous emerging technologies connected to the blockchain space that aim to provide numerous benefits to users that are unavailable in Web 2.0.

Web 1.0 was the first iteration of the web, and it was a static web. Web 2.0, on the other hand, allowed users to finally be able to create and monetize their content for the very first time, upload content, and generally be a lot more creative.

However, it relies too much on giant technology companies to develop, host, and then manage applications that we utilize in order for them to function.

What this means is that Web 2.0 is controlled by some of the largest companies, who can gather and have access to all of our data and can, at any point in time, kick someone off the platform or ban them for whatever reason they see fit based on their specific guidelines.

As such, Web 3.0 was created, and is being developed, which aims to operate through a decentralized platform that relies on technologies such as artificial intelligence (AI), machine learning (ML), a semantic web, and blockchain technology as a means of achieving a much higher level of transparency as well as efficiently.

Web 3.0 Explained: Everything You Need to Know

A decentralized web is a system of interconnected computers that are spread out globally, where each computer is privately owned and is independent when compared to the others within the network.

All of them have the primary objective of working together and enabling private, secure, and censorship-resistant access to both information as well as services.

Web 3.0 is seen as a decentralized version of the internet, and the concept of ownership is a possibility due to the underlying usage of cryptocurrencies that operate on top of a blockchain network.

Features of Web 3.0

To truly gain a high level of understanding as to how Web 3.0 operates, we need to go over some of its main features and functionality.

Decentralization

In order for Web 3.0 to be decentralized, it utilizes blockchain technology. What this means is that miners, or nodes, utilize their computing power to verify specific transactions or data that gets shared across the network. There is no single authority that controls them.

What all of this essentially means is that the information is held in a variety of different locations simultaneously instead of relying on a single, centralized location. There is no center for data storage, and no single authority can gain full control over user data as a result.

Artificial Intelligence (AI) and Machine Learning (ML)

This iteration of the web is described as a “read-write-execute” web. Here, through the utilization of Natural Language Processing (NLP) technology, computers can better understand, interpret, and manipulate human language.

This means that computers will ultimately be more human-like, with the main goal of understanding the data provided to them in a better way and, as a result, providing more accurate and quick solutions to any issues that users might look up.

No Intermediaries

Most platforms that we utilize daily are typically owned, operated, and controlled by a central authority. This is the intermediary that we go through every time we upload an image, for example, or share a status on social media.

Through the usage of blockchain technology, users are able to exchange and view data from one another directly without needing the intermediary in question. This makes the data less vulnerable to data breaches or manipulation and allows for a much higher level of freedom, as users cannot get restricted through these intermediaries.

No Single Point of Failure

There is no centralized server that keeps Web 3.0 online, and as such, the risk surrounding server failure is as low as possible. If a data center goes offline, for example, it would have the risk of losing all user data connected to a specific service that relies on that data center.

Because Web 3.0 is spread out through a decentralized network, users will always be able to access the data, as it would be stored on multiple machines, spread out throughout different locations globally.

Full Control of Personal Data

By far, one of the most important contributions of Web 3.0 is data privacy. Most platforms will typically store and sell data to advertisers within Web 2.0 platforms.

However, in Web 3.0 platforms, users can connect or disconnect their data from platforms at any point in time. Furthermore, users are not always required to create an account, which results in a much higher level of anonymity and privacy of users.

The Future of Web 3.0

Web 3.0 will ultimately revolutionize the way we use the internet. Social media platforms, for example, built on Web 3.0, will protect user privacy and enhance data security.

Decentralized Finance (DeFi) will also see a high level of utility, where users can gain access to financial services such as lending, borrowing, or anything else, without needing to use a centralized intermediary such as a bank, for example.

Advertising can be optimal and a lot more targeted to the right users due to the utilization of AI and ML, and users can monetize their content a lot more efficiently through the usage of cryptocurrencies.

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