Web 3.0 is the future of the Internet
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Who would have thought in the 90s that we would be connected to everyone through the Internet? People will earn and spend their money? Well, Web2.0 is that technology!
Web 2.0 : The Social Media and E-Commerce Era. It primarily consists of dynamic web, mobile, social media, and cloud-based technologies.
Web 3.0 : It is the new idea of the Internet that works on a decentralised system architecture based on blockchains. Tim Berners-Lee, the creator of the WWW or Web, coined the term "Web 3.0" or "Semantic Web". In 2021, with the rise of cryptocurrency, Web 3.0 came into view for everyone.
To get into the depths of Web 3.0- the future of the Internet, let's dive into the evolution of the Internet.
Evolution of the Internet
Web 1.0 (Decentralized): Web 1.0 was the early age of the Web (1996–2004) that allowed users to search for information. The information is read-only and some of it is restricted. We cannot interact with it. It mainly consisted of static pages made in HTML <mark-up-language> and hosted by an Internet Service Provider (ISP).
Dial-up Modems were used to browse the Internet, which makes the Internet very slow and inefficient.
Web 2.0 (Centralized): Web 2.0, where users can interact with websites, create websites, and share information online with anyone, is also known as the social web. Web 2.0 is used as an online software platform that can be used by anyone. Until Facebook, Amazon, and the Internet had no spikes, the internet was dark and anonymous.
Social media platforms connected everyone online and gave them the ability to create their own content. People are able to buy and sell their goods on e-commerce sites such as Amazon and eBay, stay at unknown homes with AirBnB, travel in untrusted cars with Ola, or Uber. Web 2.0 is primarily supported by dynamic websites, mobile phones, social media, and cloud-based technologies.
Web 2.0 has made our lives easier. The internet is more social and interactive with sites like Amazon, Facebook, Twitter, Youtube, and Instagram. But these big tech giants have monopolised the Internet.
Web 3.0 (Decentralized): Web 3.0 evolves around decentralisation based on blockchains, machine learning, and artificial intelligence. Web 3.0 refers to the widespread collection of the data as well as the deliberate actions and decisions based on that data. Web 3.0 actively and consciously collects data in whatever context is required, whereas Web 2.0 collected the data in current channels. We progress from analysing small collections of data to analysing data that appears to be irrelevant. NFTs and various cryptocurrencies are some examples of blockchain technologies. With Blockchain, the Web 3.0 is providing control back to the users.
Bloomberg described Web3 as an idea that "would build financial assets, in the form of tokens, into the inner workings of almost anything you do online."
Web 3.0 promises to give meaning to the vast number of web pages that make up the Internet. This might open up a whole new channel for consumers and organisations alike, where data not only has value but also has meaning and context that robots can grasp. As a result, everyone benefits from better, safer services.
Currently, the content on the Internet as we know it has no significance for the search engines that index them. Search engines throughout the world employ keywords embedded in each page of each website to present visitors with content that may be related to the information they seek.
The Semantic Web, on the other hand, is built to give each page context and a deep insight. Giving the Web intelligence via evolving machine learning is the next logical stage in its evolution, and it might open up a whole new world of data collection, communication, and research.
We can make permissionless payments using cryptocurrencies on the Internet without any centralised system like banks. We can create decentralised websites using blockchain domains.
Web 3.0 main advantages
Web 3.0 is anti-monopoly and the privacy of users cannot be invaded.
Data Ownership with Blockchain Technologies