DeFi

What is Web 3.0?

Imagine a new kind of internet that not only accurately translates what you write but also understands what you say, whether through text, voice, or other media. Imagine living in a place where everything you consume is more personal than it has ever been. In the evolution of the internet, we’re on the verge of a new age, and some early adopters have labeled it Web 3.0.

Although a few early-stage online 3.0 applications are in the market right now, their true potential will not be realized until the new internet is fully incorporated into the web infrastructure.

History Before Web 3.0

Web 1.0

From the early 1990s to roughly 2004, Web 1.0 was the first generation of the World Wide Web. Most websites were static at this time. These websites were built by companies and were used by people like you and me.

Web 2.0

The current second generation of the World Wide Web is known as Web 2.0. User-generated content, such as social media posts, blogs, and vlogs, makes up a major portion of the information available. The majority of this information is controlled and monetized by large corporations such as Google and Facebook (now Meta).

Web 3.0

Web 3.0 refers to the next generation of the internet, in which websites and apps will use technologies such as Machine Learning, Big Data, and Decentralized Ledger Technology, among others.

Web 3.0’s ultimate goal is to create a smarter, more connected, autonomous, intelligent, and open internet.

Web3 (also known as Web 3.0 and sometimes stylized as web3) is another name for a new version of the World Wide Web, based on the blockchain, which integrates features such as privacy, security, and decentralization.

Web3 is not the same as Tim Berners Lee’s vision of a semantic web from 1999. Tim Berners-Lee referred to the Semantic Web as a component of Web 3.0 in 2006.

In 2014, Polkadot creator and Ethereum co-founder Gavin Wood popularized the phrase “Web3,” which refers to a “decentralized online ecosystem based on blockchain.”

The concept of Web3 gained traction in 2021. Interest soared near the end of 2021, owing partly to bitcoin enthusiasts’ zeal and investments from high-profile technologists and businesses. In October 2021, executives from Andreessen Horowitz, a venture capital firm, came to Washington, D.C. to promote the plan as a viable solution to legislators’ recurring concerns about web regulation.

Some writers have used the term “Web 3.0” to refer to the decentralized concept known as “Web 3,” which has resulted in some confusion.

Furthermore, several Web3 visions include concepts related to the semantic web.

4 Properties of WEB 3.0

  • Semantic Web
  • Artificial Intelligence
  • 3D Graphics
  • Ubiquitous

Semantic Web

The phrase “Semantic Web” alludes to the World Wide Web Consortium’s idea of a web of linked data. People can use semantic Web technologies to establish online data stores, build vocabularies, and implement data handling rules.

Web 3.0’s cornerstones are the semantic web and artificial intelligence. The semantic web will aid in teaching the computer what the data means, allowing artificial intelligence to develop that can make use of the information. The primary concept is to build a spider web of knowledge across the internet that will aid in understanding the meaning of words and generating, sharing, and connecting content via search and analysis.

Example: Best Buy, the BBC World Cup website, Google, Facebook, and Flipboard are just a few of the resources available. Schema.org, a vocabulary for associating meaning to data on the web, has been agreed upon by Google, Microsoft, Yahoo, and Yandex. Machine learning techniques are widely used, however semantic web technologies may also be used.

Artificial Intelligence

Artificial intelligence is the next topic on the agenda. AI, along with blockchain technology, is now the hottest and most disruptive technology on the market. Artificial intelligence, also known as machine intelligence, in the field of computer science is intelligence demonstrated by machines as opposed to natural intelligence expressed by humans and other animals, according to Wikipedia. As a result, artificial intelligence will assist machines in becoming smarter in order to meet customer demands.

Websites will be able to filter and offer the most relevant content to users thanks to artificial intelligence.
Peer evaluations, as we’ve already mentioned, are one of Web 2.0’s most important contributions. Human recommendations, on the other hand, are not incorruptible, as we all know. A group of people may band together to give a movie that isn’t deserving of positive reviews, so raising their own ratings. Artificial intelligence can learn to differentiate between good and bad data and give us trustworthy data.

3D Graphics

Web 3.0 will have a big impact on the internet’s future as it evolves from a simple two-dimensional web to a more realistic three-dimensional cyberworld. Three-dimensional design is widely used in Web 3.0 websites and services, such as online gaming, e-commerce, and the real estate market.

Thousands of people from all over the world are currently engaging in this area, as strange as it may appear. Consider online games such as Second Life or World of Warcraft, where players are significantly more concerned with the well-being of their virtual avatars than their real-life counterparts.

Ubiquitous

The concept of omnipresence, or existing or being present in several places at the same time, is referred to as ubiquitous. This feature is already present in Web 2.0. Consider Instagram, a social networking platform where users snap images with their phones and then upload and distribute them online, where they become their intellectual property. As a result, the image has become ubiquitous, or widely available.
The web 3.0 experience will be accessible anywhere, at any time, thanks to the expansion of mobile devices and internet connections. The internet will no longer be restricted to your laptop and smartphone, as it was with Web 1.0 and Web 2.0. It will have infinite power. Web 3.0 might be dubbed the web of everything and everywhere because most things around you are connected online (= Internet).

The essential Web 3.0 cryptos for 2022 are, but are not limited to:

  • Arweave (A.R.)
  • Audius (AUDIO)
  • Basic Attention Token (BAT)
  • Bittorent (BTT)
  • Filecoin (FIL)
  • The Graph (GRT)
  • Helium (HNT)
  • Chainlink (LINK)
  • Livepeer (LPT)
  • Siacoin (S.C.)
  • Theta (THETA)

Closing Thoughts

The new internet will provide a more individualized and customized surfing experience, a smarter and more human-like search assistant, and other decentralized benefits, all of which are intended to contribute to a more egalitarian web. This will be accomplished by providing each user with control over their data and improving the overall experience through various enhancements that will be implemented once the system is up and running.

When Web 3.0 hits, the internet will become far more entwined with our daily lives, which is tough to conceive given how smart devices have already influenced our behavioral patterns.

Almost all of today’s normally offline equipment will become part of the IoT economy, engaging with its autonomous servers and decentralized applications (DApps). New digital domains like blockchain and digital assets are being developed to power a plethora of new tech “miracles” for the twenty-first century.

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