Web 3 is a comparatively new concept that is still in the making. It is the latest version of the internet. An update of sorts that will change the way people experience the online world. Web 3.0 services are already experiencing an influx due to several businesses preparing for the modern world internet.
What is Web 3.0?
Unlike an application, you cannot install a new internet, but every online portal gets upgraded, and the internet is long overdue. Here, we will be adding to what we already have. However, it is a work in progress, but the vision does include a decentralized and open web with better utilities for the users.
The Three Versions of the Internet
Until now, we have experienced two versions of the internet: Web 1.0 and Web 2.0. Web 1.0 was a read-only web that started around 1989 and was still prevalent till the early 2000s. Its purpose was to present information without any features to facilitate communication between the visitors and the posters. The only place for communication was through emails, and all the data was stored on servers.
Then, the internet started evolving and became read-write web, or web 2.0. The change was made official in 2004. This new internet has facilities to encourage conversations through comment sections, social media, and so much more. Here, the storage occurred on cloud storage and hosted servers that people could access through mobile phones, tablets, computers, and even fridges.
Now, the world is at the cusp of Web 3.0 evolution. Much like the past versions, this update will also have more additions. To begin, it will use a decentralized storage system, offer better privacy and safety, and utilize machine learning and artificial intelligence.
The Elements of Web 3.0
While Web 3.0 services are still evolving, a few elements will remain true.
Decentralization
Decentralization refers to the sharing of ownership in Web 3.0 services. It gives every online community ownership to everyone and allows more transparent information sharing.
Also, it does not rely on database giants like Google to store information. Instead, the data is stored in various locations, known as distributed computing.
Decentralized Autonomous Organizations (DAOs) are also a part of the same concept that includes groups made for one goal, are run by the community, and give voting rights to each member to follow the best interest of the organization’s common goal.
Improved Privacy
Blockchain is an essential part of decentralization that will be used for ownership of things. It offers transparent and publicly accessible, allowing everybody to see details.
Blockchain utilities include the registration of digital assets (NFTs) and tokens (crypto), which allow transferring of digital goods without any intermediaries. Hence, the Blockchain role in Web 3.0 is extremely crucial.
Also, there is a difference between blockchain technology and other infrastructures: databases. Previously, the databases were controlled by one person or organization. As they could alter the data with administrative access, fraud and errors were possible. In Blockchain, the ledger is available for audit by everyone, and the data is immutable.
Higher Security
Web 3.0 services ensure higher security for the users through the use of encryptions. In Web 3, the aim is to ensure that data is both publicly available and privately owned. It only allows the intended parties to access data.
For this, the information will remain encrypted and private till you transfer ownership and assets.
Machine Learning and Artificial Intelligence
Now, machines can contextualize information just like the human brain. It goes beyond knowing, including assessing the meaning and emotions behind the data, making it better than today’s search engines.
AI and ML are already finding many applications in Web 3.0, which will only improve from here.
How Are Web 3.0 and Metaverse Connected?
For one, Metaverse will use Blockchain to keep track of digital assets. One use of Blockchain in Metaverse can include the registration of digital assets like immersive experiences and games safely and transparently.
In Web 3.0, Metaverse may become the primary hanging out spot for users, much like social media today.
Read Blog – https://techcrams.com/the-metaverse-may-be-virtual-but-the-impact-will-be-real
Some Examples of Web 3.0 in Action
You can hire a web 3.0 development company to help your business prepare for the new era of the internet. All blockchain networks like Ethereum and Polygon are Web 3 platforms. And companies that offer services related to the elements of Web 3.0 are part of the system.
The Impact of Web 3.0 Services on Your Life
The proliferation of Web 3.0 can improve security by limiting the companies access to your personal data and how you use the internet.
Also, AI would make your online experience more personalized through the data you own.
Conclusion
Although there is still a lot more to come, enterprises are already investing in Web 3.0 services to prepare for the future. It is time that every business and individual starts taking an interest in technology to get the hang of it before it becomes too late.
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