The Newest Generation Internet: WEB 3.0

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Any new technology is referred to as emerging technology. However, it can also refer to the ongoing advancement of existing technology. Web3.0 is one such technology.

The World Wide Web, also known as the Internet, has evolved significantly throughout time. We’re on the verge of the next Web revolution with the arrival of Web3. Unlike Web1, which was a read-only web, and Web2, which was a read-write web, Web3 claims to be an unvarnished read-write web – in other words, a decentralized Internet.

Web3 is a new internet iteration that uses blockchain to “decentralize” management, limiting the power of large firms like Google and Meta and making it more democratic. And with the emerging technologies such as blockchain and metaverse, the concept of web3.0 is making a lot of noise. 

Entitle us to discuss what web 3.0 means, how it went from web 1.0 to web 3.0, and the differences. 

The Evolution of Web

Let me begin, with the first iteration of the internet as follows!

The first era of the internet! (web 1.0)

Web 1.0 is the first-ever stage of development in the world of the World Wide Web, also known as the static web. It is referred to as read-only-web as the user could only read the content of the information displayed. 

From 1991 to 2004, the web1.0 period existed, and websites solely offered information to users with no way to interact with them. Users were only permitted to do searches for the material they wanted to read.

Because there were no algorithms to sift through web pages in Web 1.0, consumers had a difficult time finding useful information. Simply described, it was like a one-way highway with a tiny pathway, where the content was created by a small group of people and information was largely sourced from directories. 

The internet back then was dominated by AltaVista and Netscape. The concept of logging in or interacting with ads, posts, or viewing analytics was not possible. The internet, unlike now, wasn’t profitable for the ads. It was more like one big Wikipedia all hyperlinked together now. The flash and javascript brought improvements to the existing feature. The users of the internet at that time were called the consumers, people used to go to the internet to consume the internet.

The term web1.0 was coined after web2.0 was invented by Darci DiNucci.  He is an author, web designer, and expert in user experience. DiNucci coined the term web 2.0  in 1999

The second stage of development!

Web 2.0 is the second generation of the internet. It was implemented in 2004 and is still in use today (presently). The disadvantage of web 1.0, the inability to interact, was addressed here. As a result, web 2.0 added interactivity and collaboration to the mix.

Web 2.0 refers to a transformation in how people utilize the internet. Web 2.0’s interactivity, social connectivity, and user-generated content have totally overtaken Web 1.0’s boring web pages during the last 15 to 20 years. 

The content is viewed in two ways: viewers can search for and read anything, and platforms like Facebook, Google, and YouTube collect user data.  How the data is used is uncertain.  

The engagement is visible on social media platforms such as Instagram, Facebook, and Twitter, which allow users to like, comment on and feed posts. The websites allow visitors to log in to the pages, where they can submit data and receive results, resulting in more interaction between the user and the web page.

As data can now be transmitted and shared between numerous platforms and applications, this cleared the way for both social networks and user-generated content production to thrive.

Web1.0 and web2.0 are centralized, therefore the data packets are sent to the centralized servers. These Centralized entities are responsible for controlling and operating the data. Access to private sets of information is the thing to be worried about. 

Currently, we are still in the era of Web2.0, with issues like centralized internet companies, the risks of data being leaked, and having anyone else examining our data.  While there are pros that web 2.0 is highly interactive. 

There is a solution to all these drawbacks of web2.0,  called web3.0, the next evolution of the internet. Web3.0 has become the latest buzzword nowadays.

 Let’s see what the vision of this new web is!

What is WEB3.0?

Web3.0 is the next generation of the internet. It is the next stage of development in the World Wide Web and is also referred to as semantic web or read-write-execute web. The main concepts of Web 3.0 include decentralization, openness, and increased user utility. Incredible right!

Web3.0 is a merge of blockchain, cryptocurrency, and NFT.  Based on blockchain technology the users are identified by the blockchain wallet address. The blockchain provides privacy with the use of cryptography and a completely different data structure to this new web. 

This web is decentralized and is regulated via smart contracts. Unlike web2.0 where users are the products as they browse social networks, here in web3.0  the users will be owners of their own content. The user will have control of their own data. 

Anyway, Web3.0 is all about  AI(Artificial Intelligence) driven services, decentralized data structure, and Edge computing infrastructure. 

Get down and Delve into the working of web3 for a sound understanding!

How does Web3 Work? 

A Web3 internet is permissionless, which means that anyone could use it without needing to create access credentials or obtain permission from a provider. The data that makes up the internet would be stored on the network rather than on servers as it is now.

It is a blockchain-centric internet that would make data manipulation and control more difficult. And because the data would be decentralized, no gatekeeper would be able to control it, preventing anyone from accessing the internet.

Here decentralization is the fundamental principle of Web 3.0. In Web 2.0, computers search for information using HTTP in the form of unique web addresses, which are stored in a fixed location, usually on a single server. Any changes or movement of that data would be recorded on the blockchain, creating a record that the entire network could verify. This, in theory, keeps bad actors from exploiting data while also keeping track of where it goes.

Because Web 3.0 allows information to be retrieved based on its content, it can be kept in several locations at the same time, making it decentralized. This would deconstruct the vast databases currently maintained by internet powerhouses like Meta and Google, giving people more power. 

Everything would have to be validated by the network before being approved, similar to how cryptocurrency works. People might conceivably exchange information or payment without the need for an intermediary via online apps. 

With Web 3.0, users will be able to sell data created by a variety of increasingly sophisticated computer resources, such as mobile phones, desktops, appliances, automobiles, and sensors, across decentralized data networks, ensuring that people retain ownership control.

Difference between Web 3.0, Web 2.0, and Web 1.0

The three versions of the internet are Web 1.0, Web 2.0, and Web 3.0. There are noticeable differences in how these three generations engage with the internet. The main differences between web 1.0, web 2.0, and web 3.0 are as follows.

Web1.0Web2.0 Web3.0
Read-only WebRead-write WebRead-Write-Execute Web
The purpose was sharing Information.It aimed InteractionThe purpose is immersion
Banner AdvertisingInteractive AdvertisingBehavioral Advertising
The content was ownedHere, the content was shared.The content is both shared and owned
It was more of simple and passive webIt can be referred to as social webIt is a Semantic web
It had static websitesIntroduction of web applications.Web-based intelligent functionalities and applications
Web and File Servers, HTML, and Portals are all technologies tied to Web 1.0.Ajax, JavaScript, CSS, and HTML5 are all web 2.0 associated technologies.Blockchain, artificial intelligence, and decentralized protocols are examples of Web 3.0 technologies.

What are the core components of Web3?

The following are the five key characteristics that can help us define Web 3.0:

  • Decentralization:  Decentralization refers to the absence of a central host, especially for data. Users can freely interact and cooperate with data coming from numerous sources at the same time. Users retain ownership of their data contributable to decentralization.
  • Artificial Intelligence: Artificial Intelligence (AI) is the process of computers interpreting data in the same way as humans do. As a result, machines are able to act and make judgments in the same way that humans do.
  • Ubiquity: Multiple applications can access the same content, and because every device is connected to the internet, the services can be used anywhere. 
  • Semantic Web:  The Semantic Web is the next step in the Web’s evolution. The semantic web enhances online technologies by allowing users to create, share, and connect content via search and analysis based on the ability to understand the meaning of words rather than keywords or numbers. 
  • No Intermediary and Permissionless: The term “permissionless” refers to situations in which anyone can engage without the need for permission from an organization.  And In Web 3.0, you no longer need to go through a “middle man,” or someone who acts as a conduit between individuals, to access information. 

What are the key characteristics of Web3?

The major ones are noted below :

  • Anonymous single-sign-on:  Instead of different logins for each site, anonymous single-sign-on will allow users to utilize the same username and authentication method across all websites and accounts. You would not have to give up control of sensitive personal information if you used this log-in.
  • Individual ownership and tokenization: To incentivize participation and disperse ownership, activities that contribute to Web3 are rewarded with a token (either NFT or fungible, e.g. cryptocurrency).
  • Self-governing: The distribution of decision-making power goes hand in hand with the distribution of ownership. Due to the lack of a central authority, blockchains rely on consensus to authenticate an activity. However, particular procedures can be built, such as those used in decentralized autonomous organizations, to democratize decision-making depending on the quality or volume of a user’s investment in a site or dapp.

The Future of the Internet: Future of Web3

An idea known as Web3 is at the center of a heated dispute about how our online experiences will grow.

The word has been around for over a decade, but it remains a vague and divisive concept, dividing those who view it as a method to improve the world and those who see it as a chance to generate money from a decentralized internet. Well it works for both!! 

In the coming years, entertainers and entertainment platforms that embrace Web3 will prosper. Many people believe that Web3 would provide a more egalitarian and powerful ecosystem for performers to thrive by enabling radical change in incentives, ownership arrangements, and monetization channels.

The key will be rewarding fans early on when they are willing to put their money on a creator’s future success and allowing them to share in that success as it unfolds. 

Conclusion

Web3  will be accomplished by allowing each individual user to take control of their data and enhancing the overall experience through a variety of innovations that will be implemented once it is in place.

The internet will become considerably more intertwined in our daily lives when Web 3.0 arrives, which is difficult to imagine given how smart devices have already impacted our behavioral patterns. 

The new internet would be a hallmark of immersive metaverse experiences. Facebook changed its name to Meta, which could be an indication that the Web 3.0 revolution is gaining ground. 

Metaverse is a big example of web3. It is a virtual space similar to the physical world where avatars of any individual can communicate in the metaverse. This metaverse enables the users to own property using metaverse tokens like MANA and SAND, it allows social meetings, concerts for musicians, trading of valuable digital assets, art, workout, etc.  It is based on smart contracts that run on top of a blockchain.

Other examples of web3.0 can be the smooth use of DeFi, and cryptocurrencies as both of them work on decentralized platforms and this next generation is native to them.

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Daniel Salvatore

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Mars Blogging launched in January 2019. Mars Blogging is an independent website publishing news related to business and major technology developments across the world.

The website also strives to create one of the most comprehensive financial glossaries online.

Mars Blogging is based in United States of America. The company also has offices in Louisiana, United States.

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