The Internet has grown and changed dramatically over the past three decades. From humble beginnings as a means of exchanging emails, it has grown into an integral part of our everyday lives, changing how we work, how we socialize, and even how we conduct business with one another.
Now the third major wave of technology is starting to take shape, introducing us to Web 3.0 and all the exciting possibilities that it brings to the Internet as we know it today.
This article will give you an overview of what Web 3.0 is and where it’s headed in the future
What is Web 3.0?
The World Wide Web also called the web and the internet is a system that allows you to access information online by using your computer and browser (like Chrome or Firefox).
But what if there was a way to use not just your browser but any device? What if there was an open-source way to connect everything together in an interconnected network?
Enter Web 3.0. It’s more than just an idea—it’s a new technology that will change how we live our lives. Here’s everything you need to know about it.
How Is Web 3.0 Different From Today’s Web?
One key difference between today’s web and an evolved version based on blockchain technology involves decentralization.
Right now, nearly all data on the internet comes from centralized systems like social media networks and search engines like Google.
These huge companies collect loads of data—which they then store on their own servers—and use them for their own benefit without allowing users to retain control over their own data.
With a decentralized system, however, that power would be in your hands. Instead of Facebook or Google storing your information (and using it for advertising purposes), you would have full ownership over your own data and could share it with whoever you wanted whenever you wanted to share it.
This type of system is possible thanks to blockchain technology.
How Does Blockchain Technology Work?
To understand how blockchain technology works, you need to know a little bit about how it’s different from traditional databases (which are also called centralized databases).
In a centralized database, all information is stored on one server that can be accessed by multiple users at once. But in a decentralized database, there is no single server; instead, each user has their own copy of all information and must verify transactions before they’re added to the system.
This method makes it harder for hackers to access your data because there’s no central point of entry.
It also means that, if you wanted to share your data with someone else, you could do so without going through a third party like Facebook or Google—you could just send them your encrypted file directly.
Difference between Web 1.0, Web 2.0, and Web 3.0
On the internet or World Wide Web, it is widely considered that there are three versions called 1.0, 2.0, and 3.0 that have been introduced till now to use as tools for various activities such as doing businesses on the internet, gaming, etc., by many users across the worldwide web. Here we will discuss the difference between all these versions in brief.
Web 1.0 is mainly based on HyperText Markup Language (HTML) and it was used to broadcast information only with additional data such as images, video, etc., that’s why we can say that it was a text-based version used for users interaction without any great user involvement to develop web pages by themselves.
Web 3.0 has been introduced recently in 2022 by one of its developers Mr. Tim Berners-Lee who is also the founder of the World Wide Web he introduced it as the Semantic Web, which is based on cryptocurrency that allows users to interact with web pages through natural language processing and machine learning, thus allowing them to use their own words to interact with web pages instead of using tags like HTML, etc., that’s why we can say that it is based on Artificial Intelligence (AI) which helps users to search anything easily on the internet.
Web 1.0 was used from the 1990s till 2000s, Web 2.0 was used from 2000s till 2010s and now Web 3.0 is coming soon after 2010s, so you can say that there are three versions of world wide web being used till now for various purposes such as business activities or social networking, etc., across the world wide web.
Features of web 3.0
Web 3.0 is an ambitious project that wants to change how we use our computers and access information on a day-to-day basis, to create a safer, faster, and user-friendly web experience for everyone. Though it’s still early days for web 3.0, here are some of its features you can expect to see in future iterations of your favorite websites.
1.) Instant login & payments
Many companies have tried to streamline their login process by creating their own Facebook Connect buttons or using Facebook logins.
This means you don’t need to register separately with each website, as long as they support social logins—which most do these days.
Additionally, one of blockchain’s biggest selling points is fast transactions; instead of waiting hours for your bank transfer to go through (or dealing with PayPal fees), blockchain transactions take seconds.
2.) Decentralized Storage
With cloud storage solutions like Dropbox and Google Drive becoming increasingly popular, people are storing more data online than ever before.
In fact, according to a recent study, 90% of people now store at least some data online rather than locally on their computer.
However, if you lose your laptop or get hacked, all of that data could be lost forever. Instead of relying on centralized servers to store all your files, decentralized storage will allow users to upload their files onto a decentralized network run by multiple servers around the world.
As well as being more secure than traditional cloud storage solutions, decentralization also has other benefits such as increased privacy and better uptime because there’s no single point of failure.
3) Smart Contracts
Smart contracts are essentially automated software programs stored on a blockchain that execute specific actions when certain conditions are met.
For example, let’s say you want to rent out your apartment while you’re away on vacation but want to make sure nobody breaks anything while they stay there.
You could write up a smart contract that locks down your apartment and prevents anyone from entering without permission until after your return date—all without having to pay someone else to check up on things for you!
4) Real-time Updates
See: Dream League Soccer
While tracking cookies isn’t necessarily bad, many people worry about their privacy and whether companies are interested in providing them with relevant content or just trying to sell them something.
Because blockchain technology isn’t controlled by any central authority, you can rest assured that your data won’t be sold to third parties or used to target you with irrelevant ads.
5) Improved Security
Because blockchain networks are distributed and encrypted, they’re much harder to hack than traditional databases. And, even if a hacker does manage to break into your account, they’ll only be able to see a limited amount of data.
Whereas with centralized databases, hackers can potentially gain access to millions of accounts at once.
6) Better Search
Most people use search engines on a daily basis—whether that’s typing in their email address or searching for a nearby restaurant.
But as search engines grow and add more data, it becomes harder and harder to find exactly what you’re looking for.
That’s why decentralized search engines, such as YaCy, are gaining popularity. These search engines use peer-to-peer protocols to index and rank web pages, meaning you can find exactly what you’re looking for—even if it’s a very niche topic.
7) Open Source
Blockchain is built on open-source software that allows developers to see exactly how their code works and build on top of it.
Because of its open-source nature, blockchain is constantly evolving and improving—as opposed to traditional and proprietary software and closed to outside developers.
8) Self-sovereign Identity
Self-sovereign identity is an identity that belongs to you alone, as opposed to a company or organization.
When you use a centralized service such as Facebook or Twitter, your data is owned by those companies and they can share it with others if they choose.
However, with a decentralized service such as uPort, your data is stored on a blockchain and you have complete control over who can access it.
9) Smart Cities
One of blockchains main uses is in creating the digital infrastructure for smart cities.
Smart cities are designed to be more efficient and sustainable than current urban centers by using IoT devices to gather real-time data on everything from energy consumption to traffic congestion.
By gathering all of that data together, city planners can use it to improve public services and allocate resources more effectively.