Decentralization is a well-known concept, but what if we suggested that today’s internet can also be decentralized? Web 3.0 alludes to the evolution of web usage and interaction, which includes the conversion of the web into a “Database.”
Often known as Web3, it is the World Wide Web’s next version, with a dash of cryptocurrency tossed in for good measure. The name Web3 was coined in 2014 by Gavin Wood, co-founder of Ethereum, when he began to invest more in creating decentralized technologies. He came up with the term Web3 after thinking about previous versions of the internet.
To learn more, let’s delve into the features of Web 3.0 and gather up purposeful insights:
1. Decentralization is the New Favorite Word
Web 1.0 and even 2.0 tend to keep resources consolidated in a few places. The user has a computer device that uses HTTP to view a URL. The URL refers to a single server that may pull material from a few other comparable systems. With Web 3.0, this has altered substantially.
Even the most basic phone is similar to supercomputers from a decade ago. 3.0 makes extensive use of the tremendous amounts of power available in even the smallest client devices.
Moreover, the decentralized blockchain technology has eliminated the prospects of a server crash, hackers attacking your assets or government authorities censoring the platforms.
In addition, web servers use cloud computing to abstract various file locations or databases over numerous platforms. Even code in web apps might originate from a variety of places.
2. Artificial Intelligence (AI) has Modernized the IT Landscape.
AI is a type of machine learning that allows computers to function as semi-autonomous entities. Web 3.0 brings this promise to fruition. At present, most of this power is being channeled toward trade. Pattern recognition is one of AI’s most powerful capabilities. Machine learning is great at analyzing spending habits to figure out what things customers want. However, the potential of AI in Web 3.0 is infinite.
Anything requiring decision-making may benefit from AI’s infinite information and lightning-fast speeds. Even industries such as pharmaceutical development and manufacturing are beginning to realize significant benefits from AI-powered solutions.
3. Metaverse is Catching Fire!
When we talk about the future, one of the first things that come to mind is the metaverse. It is one of the features of Web 3.0 that is catching wildfire!
On the other hand, this new version of the Internet completely connects with this virtual cosmos, permitting 3D designs of websites and adding IoT devices to its peripherals.
4. Eliminating the Drawbacks of Web 2.0 with Connectivity
Sophisticated features of Web 3.0 has eliminated many of the shortcomings of Web 2.0. Because of semantic metadata, you can better store and connect information with Web 3.0.
Web 3.0 is heavily reliant on IoT sensors and makes the Internet accessible to anybody, everywhere, at any time, without the use of a computer or smartphone. Experts characterized being or having the power to be everywhere, especially at the same time as ubiquity. We can describe in one word: widespread.
Web 3.0 essentially takes the internet one step further by making it available to anybody, everywhere, at any time. Web 3.0 does not restrict Internet-connected devices to PCs and smartphones.
In the end, it will link your identity, the majority of your possessions, all of your data, and every software capability you have a right to utilize. As a result, it will work together.
5. The Invite to Personal Data Control is Enticing
Web 3.0 offers protocols where users interested in blockchain development platforms maintain their own data and share as little as feasible. This goes against the grain of corporations or social networks that utilize as much of our data as possible to determine our buying preferences or political viewpoints.
Furthermore, the scholars and giants advocated that a paradigm with no constraints on releasing material be used. However, this is a two-edged sword, as it would assist in abolishing censorship while also increasing the risk of spreading bogus news or hate speech.
The Next Web 3.0 wave extends well beyond the first use case of cryptocurrency. Web 3.0 will cryptographically connect data from individuals, corporations, and machines with efficient machine learning algorithms. It will result in the rise of fundamentally new markets and associated business models due to the richness of interactions and the global scope of counterparties available.