The Newest Generation Internet: WEB 3.0

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. We’re on the verge of the next Web revolution with the arrival of Web3. Unlike Web1, a read-only web, and Web2, a read-write web, Web3 claims to be a 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. With the emerging technologies such as Blockchain and Metaverse, the concept of web3.0 is making a lot of noise. 

Join us as we discuss what web 3.0 means, how it evolved and came about, and how it differs from its predecessors.

The Evolution of Web

The first era of the Internet – Web 1.0

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

The Web1.0 period existed from 1991 to 2004, and websites solely offered information to users with no way to interact with them. Users were only permitted to search for the material they wanted to read.

Because there were no algorithms to sift through web pages in Web 1.0, consumers had difficulty finding helpful information. Simply described, it was like a one-way highway with a small pathway, where the content was created by a small group of people and information was primarily 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 advertisements.

It was more like one massive Wikipedia page- all hyperlinked together. The flash and javascript brought improvements to the existing feature. The internet users at that time were called consumers, as they would go online to “consume” the internet.

The term Web1.0 was coined after Darci DiNucci, an author, web designer, and expert in user experience invented Web2.0 in 1999.

The second stage of development – WEB 2.0

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, and Web 2.0 added interactivity and collaboration to the mix.

Web 2.0 refers to a transformation in how people utilize the Internet. Its interactivity, social connectivity, and user-generated content have 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. However, how the data is used is uncertain.

The engagement is visible on social media platforms such as Instagram, Facebook, and Twitter, allowing users to like, comment, and feed posts. In addition, 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.

Data can now be transmitted and shared between numerous platforms and applications, clearing 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. Therefore, access to private information is the thing to be worried about.

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 examine our data.

There is a solution to all these drawbacks of Web2.0, called Web3.0, the next generation of the Internet, and has become the hype of the digital world recently.

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 include decentralization, openness, and increased user utility. Incredible, right?

Web3.0 merges the concepts of Blockchain, cryptocurrency, and NFT. Based on Blockchain technology, the wallet address identifies the users. In addition, the network provides privacy using cryptography and a completely different data structure to this new web. 

This web is decentralized and is regulated via smart contracts. Unlike web2.0, users will now be owners of their content and will have control of their data. 

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

Let’s delve into how it works for a better understanding. 

How does Web3 Work? 

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

It is a Blockchain-centric internet that would make data manipulation and control more difficult. No gatekeeper could control it or prevent anyone from accessing the internet.

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 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 the ill-intentioned 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 simultaneously, making it decentralized. This would deconstruct the vast databases maintained by internet powerhouses like Meta and Google, giving people more power. Organizations can rethink and redesign security models to minimize risk and maximize data efficiency with Web 3.0 model. Infrastructure, identity, and behaviour should be addressed as part of enterprise security in order to guarantee future security. Web 3.0 offers protecting people and securing data. That’s what Web 3.0 is all about. 

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

With Web 3.0, users can 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.

Comparison 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.

What are the core features of Web3?

The following are the features that can help us define Web 3.0:

• Decentralization: It 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 the same way humans do. As a result, machines can act and make judgments in the same way 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: This refers to situations in which anyone can engage without the need for permission from an organization. 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 Web 3?

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 login.

• 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: Web3

An idea known as Web3 is at the center of a heated dispute about how it would impact our online experiences.

The word has been around for over a decade. Still, 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 platforms embracing Web3 will prosper. Many believe Web3 would provide a more egalitarian and robust 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 the success as it unfolds.

Conclusion

Web3 will be accomplished by allowing each user to take control of their data and enhancing the overall experience through various 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, indicating that the Web 3.0 revolution is gaining ground.

Metaverse is a prominent example of Web3. It is a virtual space similar to the physical world where avatars of any individual can communicate in the metaverse. Furthermore, 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.

Other examples of Web3.0 can be the smooth use of DeFi, and cryptocurrencies as both work on decentralized platforms, and this next generation is native to them.