What is Web 3.0?
The web has made great progress over the past few years, but its current version brings many limitations that some believe the “next version of the web – Web 3.0” will solve. On this “new version”, data could be linked in a decentralized way, which would bring new possibilities compared to the current “Web 2.0” version, where data is largely stored on centralized servers.
The Web as we know it
The early days of content publishing on the World Wide Web were fundamentally different from what we know today. Websites were static and read-only, limiting users to virtually no interaction.
Although considerable progress has been made in the speed of information exchange, it was not until the so-called Web 2.0 that a major advance was made. In addition to further increasing the speed of internet connections, more users were given the ability and permission to create web content.
Three key technologies have defined Web 2.0: mobile content, social networks and cloud solutions.
The most important feature of Web 3.0 is the premise that it will be based on blockchain. It would consist of a network of interconnected blockchains that should be interoperable.
The blockchains themselves are made up of code, smart contracts and transactions that are verified across thousands of decentralized nodes around the world. They thus give no power to any centralized middleman or intermediary. Instead, they are operated and managed by anyone who wishes to do so. All activity is verified automatically directly on the blockchain, making transactions or interactions with the blockchain tamper-proof.
The real challenge Web 3.0 faces is its adoption by those who don’t quite understand what it’s about, how it works and what benefits it brings. So far, they may have heard terms like NFT, DeFi and Metaverse, but they don’t really grasp what it all means.
The biggest gaming companies see Web 3.0 as a huge opportunity. Gamers will be able to directly invest in the game they play, or vote on how the game’s storyline develops. For example, NFTs already play a big role in enabling players to become owners of items in their games.
The fundamental pillars of Web 3.0 are: semantics, ubiquity, 3D graphics and artificial intelligence (AI).
The semantic web allows computers to analyze significant amounts of data from the internet, such as content, transactions, and connections between people.
Using semantics on the web allows machines (AI) to decode meaning and emotion by analyzing data. Thus, when browsing the web, the user will have a better experience powered by augmented data connectivity.
If we were to define the presence of the Internet, we could say that Web 2.0 is already ubiquitous.
Using Telegram, for example, you can share a file, photo or audio recording at anytime, no matter where you are.
Web 3.0 takes this a step further by enabling connections with a multitude of other types of smart devices in addition to smartphones and computers.
Web 3.0 is focusing on the revolution between physical models and digital graphics technologies, which it will bring to three-dimensional virtual worlds.
Unlike 2D, these hyper-realistic 3D graphics will provide a new era of graphical representation in futuristic gaming applications like Decentraland, but also in other sectors such as real estate, health and many others.
As the AI of Web 3.0 will be able to read and decipher feelings and emotions, it will bring new intelligent tools. Web 2.0 also provides similar tools, but these are still largely in human hands, allowing for fake and fraudulent behavior (e.g., in product reviews).
Today’s online platforms can easily be influenced by and/or influence reviews or product ratings by paying a group of users to create positive or negative reviews.
Web 2.0 vs. Web 3.0
The main difference between Web 2.0 and Web 3.0 is the method by which the content will be organized on the Internet. Nowadays web pages are linked and the data that is shared between pages is dependent on people and their knowledge of the topic of the pages. Web 3.0 will allow machines to recognize a wider range of data and categorize that content. This will allow users to reach more useful information.
Web 3.0 and cryptocurrencies
Even a small group of people can dictate what happens or appears on the Internet in the current version of the web. Decentralized Web 3.0 will allow online content to be managed by a broad community. How is this possible?
This is what cryptocurrencies that act as shares or partial ownership of a decentralized platform make possible. It can also give users control over their online data.
The web as we know it serves us well and supplies us with an endless flow of information to improve our daily lives.
Yet there are many challenges (censorship, disinformation, hoaxes, fake news, etc.) that Web 3.0 can solve. Although Web 3.0 is a very promising vision, there is still a long way to go. For a smooth exchange of information, greater unity will be needed among all the individual Web 3.0 projects. To be truly successful, it will also require building more online infrastructure and its greater acceptance by the general public.
Sources: coinmarketcap.com, coindesk.com, wiki, pixabay.com, oKrypte.sk