You would have stumbled upon the term "Web 3.0" today, commonly known as the next generation of the Internet. Every month, over 18000 active developers execute code to open source crypto and Web 3.0 applications. If you are unfamiliar with this, think of the scenario when you could use a single account to go from shopping to email to social networking. That is what Web 3.0 evolution/development is about. Utilizing the integration of Machine Learning and Artificial Intelligence allows it to interpret the input as well as what you are trying to convey and deliver the recommendation individually.
The internet has certainly evolved through time. Web 1.0 consists of static web pages serving content existing in the file system of the server. It enables users to access data from anywhere without any feature to interact with the content. Followed by Web 2.0, which allowed users to interact with the content they saw on the web and encouraged user-generated content growth. Though it came with advancements, it came with certain drawbacks, like less control over user data and security. On the contrary, Web 3.0 uses a decentralized network to pass data and transfer the control to owners. In addition, Web 3.0 evolution focuses mainly on empowering individual users rather than community development.
What is Web 3.0?
Web 3.0 is the improved version of the internet that goes past a centralized architecture while trying to interconnect data in a decentralized way to provide a snappy and personalized user experience. Also known as the Semantic web, it is built on Artificial Intelligence, and Machine Learning while utilizing blockchain technology to provide data security. It aims to support businesses by allowing them to develop applications by distributing logic across various block nodes. It enhances the transparency of business transactions and enables us to track all previous data. It also gets rid of the dependency of users on the service provider creating the platform.
Web 3.0 applications or dApps are developed on top of decentralized networks or blockchains, which is different from Web 2.0 where developers build and deploy applications using a centralized database. Moving towards characteristics, the new internet is seen to be more connected, secure, user-centric, and private. With intelligent searches and behavioral advertisements, Web 3.0 can provide personalized experiences.
How does Web 3.0 work?
Generally, the internet works through servers. Information travels to the server and flows out of it based on the user’s online activities. The service provider has control over this data exchange between two users. What started with a couple of computers connecting became the World Wide Web. Web 3.0 aims to benefit from every device connected to it, the same thing is happening with cryptocurrencies which are doing very well now. So concept-wise, Web 3.0 is not new. It is built on the idea of edge computing and uses platforms built on top of the blockchain, NFTs, cryptocurrencies, and more.
Conceptually, it includes “decentralization” at the primary level and is the opposite of Web 2.0 in most ways. The data and content in Web 2.0 get centralized through servers and data centers - known as the cloud. Although we still use Web 2.0, Web 3.0 is in the process.
- The goal of Web 3.0 is to make internet searches faster and more efficient
- Web 3.0 aims to make the internet a more decentralized place with decentralized apps (dApps)
- These dApps are standard applications that run on peer-to-peer artwork, providing more privacy control and data security to the user.
- Blockchain technology is the foundation of web 3.0: It works as a record book that helps in taking all transactions in a sequence and keeps track of the assets in the business network.
Web 3.0: Internet revolution or hype?
There are a lot of trends that are driving the Web 3.0 buzz. Web 3.0 is creating a digital revolution that will make manual communication techniques outdated and introduce an ecosystem where no one platform or organization is capable enough to manage your activities on the internet, a much-needed upgrade from the current internet system. It is a step towards regaining control over the internet by the user - what, how much, and with whom data can be shared. What sets Web 3.0 in motion is the idea that we are all promised a decentralized alternative. All users are owners and developers, making way for a future where users can connect with data via a peer-to-peer network without counting on a mediator. The main feature of 3.0 is censorship-free, blockchain-based, and open-sourced. So, that’s certainly going to cause a stir across platforms and the crypto world, not to mention NFTs have their fair share on it too.
Web 3.0 Evolution in Blockchain
The app development industry is experiencing a crucial transition towards a better way to interact with users, with blockchain at its core. Web 3.0, or Semantic Web, is developed from Artificial Intelligence, Machine Learning, and Blockchain technology.
Web 3.0 integrates Artificial intelligence by using smart contracts, smooth and efficient integration, and censorship-resistance storage of peer-to-peer network data files indicating interoperability. Voice assistants such as Siri and Alexa are examples of how Machine Learning is applied to develop new types of internet service. Blockchain established with Machine learning and the Internet of things has unique identifiers letting Web 3.0 to work on decentralized protocols. Therefore, making Blockchain technology inevitable and a catalyst for Web 3.0.
Web 3.0 Evolution in NFTs
NFTs (Non-fungible tokens) have become the latest talk in the digital world. Web 3.0 runs on Blockchain technology, allowing exchange, ownership, and preserving trust in the network. In this platform, assets get priced through tokens called NFTs. They can be anything in a digitized format with a value attached to them; that value will depend on how unique they are. For instance, we can correlate NFTs with flight tickets. Design and appearance-wise, they are all the same with the difference in seat number and the destination.
NFTs are a budding part of the Crypto market. With the escalating number of users and ever-growing infrastructure of Web 3.0, real-world concerns such as digital asset validation and copyright claims will be less of a problem in the future.
Web Evolution 3.0 in Crypto
Now that Crypto is quite extensive, Bitcoin and Ethereum should not be the only thing that should come to your mind when you hear the term crypto. The term refers to the various encryption algorithms and cryptographic techniques used to protect the entries related to these transactions. Apart from being cryptocurrencies, they are the foundation for building decentralized apps (dApps) that work on Bitcoin technology. Cryptocurrency is defined as a digital or virtual currency, secured by cryptography, making it impossible to be faked. It is a catalyst that will expedite the process of Internet transformation as we know it.
Layers of Web 3.0
The whole concept of Web 2.0 revolved around establishing mobile, social, and cloud technologies. Web 3.0 takes it a step further and expands it to 4 layers:
Edge computing: Edge computing is just a distributed IT architecture that processes the client data at the edge of the network, as close to the source as possible. It translates to making use of all the devices connected to the web.
Blockchain: Blockchain is the base of cryptocurrencies, and it is going to be a big part of the foundation for Web 3.0 as well. A blockchain is a decentralized behavioral model that deploys Smart Contracts. These contracts specify the logic of an application for web 3.0.
Artificial intelligence and machine learning: AI and ML algorithms have progressed to form useful, and sometimes life-saving predictions and patterns. Its potential is used far beyond targeted advertising in sectors like climate prediction, drug-making, and precision materials.
Decentralization: Decentralized data networks let various data generators sell or trade their data without jeopardizing privacy, losing ownership, or counting on mediators. This way, decentralized data networks look after a huge number of data providers. With Internet Identity, you can log in safely over the internet without the risk of being tracked.
How do we help you with Web 3.0?
The essential part of understanding Web 3.0 is to start implementing it, one way or another. With the evolution of Web 3.0, we are heading towards an internet era where the main focus will be user empowerment. The aim is to build trust by returning the privacy of user data. With Blockchain technology, content creators now have more control. Indicating a new age of content creation and connecting with followers more closely.
A lot of challenges are coming along the way, but ultimately, the adoption of Web 3.0 is taking place. Evon Technologies is our software development company in India, by us on your side, it is not a long road. We aim to deliver “State-of-the-art Technology” for all businesses and brands, our IT professionals always try to gain knowledge about the latest technologies and platforms. Are you prepared to find your way to the thrilling web 3.0 ride? Do not hesitate to contact us if you are looking for companies to take your first steps towards Web 3.0 or simply require IT consulting.
