In the tech world, Web 3.0 has become a buzzword. However, very few people understand what it is and, more importantly, what happened to Internet Explorer 1.0 and Web 2.0.
3.0 Web 3.0 is the future and has the potential to change everything. The purpose of this article is to explain what Web 3.0 is and why it is so important.
Let's dive in.
History of the web
With every new version of the web, the definition changes.
Additionally, how each individual uses the internet for their benefit varies. If one were to ask an uninvolved group of people what the web is about, they would each give a different answer.
There have been many versions of the web over the years, and each one has improved upon the previous one. Currently, Web 3.0 is a popular topic that continues to draw attention. Let's examine how each of the web versions works and what they can do.
Web 1.0
The origins of Web 1.0 can be traced back to the invention and development of the internet. Under the Advanced Research Project Agency in the USA, the Internet was first developed as a communications project for military purposes in 1969. Moreover, the Internet began as a text-only medium and mostly consisted of hyperlinked web pages.
They were strictly read-only and could not be interacted with. As a result, the internet appeared to be like a giant book collection. As a result, information could be exchanged easily on the internet.
Several years later, bulletin boards added chat capabilities to the internet, allowing users to interact. With the advent of dynamic URLs and a few other advancements, Web 2.0 was born.
Web 2.0
The internet of today is a re-creation of Web 2.0. Everything we do today is online. Darcy DiNucci, Tim O Reily, and Dale Dougherty were the pioneers of Web 2.0.
You can blog, chat, share videos, audio, and email on a Web 2.0 site. Globally, the Social Web has gained popularity and acceptance because of Web 2.0.
There have been a number of new web-related technologies released as part of Web 2.0, including
- Ajax
- JavaScript
- CSS
- DOM
- HTML
- XML
- XSL
- Adobe flash
All of these factors have resulted in Web 2.0 a very interesting platform that has unlimited possibilities.
Web 3.0
Semantic Internet is another name for it. Tim Bernes Lee developed Web 3.0 in 1999. Web 3.0's purpose is to create an internet that can analyze every bit of data available on the internet, making it more advanced than previous versions.
It is Web 3.0's ability to perceive more than just words and numbers that makes it so special. In addition to learning the natural language, Web 3.0 also allows users to comprehend the intention.
By leveraging all available information, semantic metadata strengthens connectivity. Virtual reality is also being utilized to offer more precise information, and the elimination of data silos has opened this way for content to be accessed by applications.
The difference between Web 1.0 as well as Web 2.0 and Web 3.0
Importance of Web 3.0 for Blockchain Technology and Crypto
With blockchain technology, you can complete every task using the internet more accurately and error-free. In contrast to human nature's emotional fragility and proneness, blockchain ensures equality for all.
It has the potential to improve many aspects of our lives, including healthcare, finance, gaming, agriculture, and supply chain management, among others. Decentralized technology based on Ethereum is currently being developed as a separate Web 3.0 framework.
Due to the decentralization of data in the blockchain, cloud transactions are accurate and transparent. However, if Blockchain 3.0 is implemented simultaneously with Web 2.0, the issues that hinder Web 2.0, such as manipulation, surveillance, and centralization, will be exacerbated.
It gives users control over their data and allows them to decide who benefits from their online activity. Since decentralization gives users control over data, tech giants that profit enormously from user data will have to find alternative methods of making money.
Web 3.0 will not automatically include decentralization.
Due to the number of people who hold the personal information of users, many doubt that the transition will be as seamless as many expect. The beginnings of a change are on the horizon, thanks to apps like Brave browser, Uniswap, and Propy, which have shown tremendous success with blockchain technology.
Web 3.0 and Decentralization
Despite what many people believe, blockchain is not a feature of Web 3.0. This intelligent semantic web does not include blockchain.
In addition to Web 3.0's ability to adapt to decentralization and new technologies, these two technologies have a good connection. Web 3.0's support for blockchain will only increase as it continues to develop.
Blockchain is also misunderstood as decentralization. Blockchains provide decentralization through their peer-to-peer framework, but the reverse is also true. While less likely and less popular, the blockchain may offer a more powerful version of centralization.
One of the biggest concerns with blockchain technology and Web 3.0 is this. Data freedom and web accessibility are at grave risk if more government-controlled projects like the Central Bank of Digital Currency (CBDC) succeed.
Importance of Decentralized Web 3.0
With blockchain and Web 3.0, each of us can own our data, and we can free ourselves from the authoritarian schemes of those who operate behind the scenes. The government can also restrict us more and take away our right to control our data in the same way.
It is likely that users will lose little control over their personal information if the government expands projects such as the CBDC and prioritizes central banks to issue digital currency.
This isn't as likely to happen, but it is possible.
The party with the most authority will have complete control over the data of users in this scenario. You will be able to track everything you do on the internet, every transaction you make, and your bank account balances.
In the end, the parties could control the information that the public has access to.
In order to evolve from this mindset, people need to stop thinking data collection is fine since it is not an illegal activity. What happens if centralization allows authoritative parties to freeze your bank account funds? People's freedom will be seriously restricted by this.
In addition, freedom of speech on the internet could be compromised if centralization takes hold. The authoritarians will no longer be able to publish these kinds of articles and views. Public events, such as elections, could be manipulated, and society would suffer.
Private information of their customers is already being sold. It would be much easier to implement these initiatives if decentralization fails. Social media companies and websites like Google sell the data of their users and create psychographic profiles of them. In addition to using them for advertising, they also use them to influence political campaigns.
Ask your friend to Google what social media does to manipulate society for their benefit if you aren't convinced about anything. If centralization takes over, you won't find a wide variety of articles on the subject. Decentralization has many advantages. Through Web 3.0, advocate for it.
Examples of Implementations of Web 3.0
On a variety of levels, blockchain and Web 3.0 are already being used and tested. Blockchain technologies, such as Ethereum and bitcoin, are setting the stage for web 3.0.
The use of blockchain technology is being seen in a variety of ways, including web 3.0.
Among the fields that could benefit from this process is finance. Financial institutions will be able to prevent fraud and eliminate corruption by using a semantic process that is clear and precise. The AAve platform, for example, allows users to lend their crypto assets to earn interest, and they can also use the funds to buy cash.
To avoid expensive costs, decentralized finance software allows customers to make loans against collateral, invest, obtain a mortgage, and purchase insurance right away. Additionally, it will be able to offer its users better interest rates than banks.
Similarly, video games have seen massive success with Web 3.0 and its play-to-earn system. Games and other virtual technologies can benefit from Web 3.0's ability to bridge the gap between the real world and the virtual world. Metaverse is a good example. Virtual worlds with decentralized control include Decentraland, Sandbox, and Bloktopia.
Another feature of Web 3.0 is hyper-realistic mapping of our world, known as the Spatial Web. With billions of connected devices, this is a three-dimensional digital environment.
Two areas that may benefit from Web 3.0 are voting and real estate. By eliminating fraud, conducting elections and other similar events on the blockchain will ensure the highest level of accuracy. Propy is an excellent example of blockchain simplifying the tedious task of dealing with real estate transactions.
Conclusion
Having read the article, you should now understand the importance of decentralization. Using blockchain technology or Web 3.0 is the easiest way to ensure widespread adoption of decentralization. In the case of Web 3.0, people will have more control over their data and internet usage if it is properly implemented.
Due to the lack of a centralized legal entity to govern the network, it is more accurate and data is not manipulated. Additionally, if one understands how important liberty is, decentralized Web 3.0 with blockchain is the best way to achieve it.
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