Here we will explore what is Web 3.0? and where it comes from?, we also see how it can change people’s and business perspectives.
It is a new version of the internet and It is a decentralized web that consists of a peer-to-peer network, where information is distributed across many different nodes instead of one centralized server.
On this new web, most activities are done without the help of a third-party provider. This means there is no government or corporation that can control your data and alter its content.
This is because everything on this new internet is encrypted. These are some reasons why Web 3.0 will be better than Web 2.0 or Web 1.0.
Traditional Internet
The web or internet is not like the old one, we have come a long way since the days of Geocities when we were all using dial-up connections and Netscape Navigator to surf the internet.
Not only is it more difficult to load pages on the mobile web, but with each passing year comes higher prices for broadband, which is making it harder for people living in poverty to get connected.
The internet has become less about the Internet and more about how an increasing number of companies are managing your data, In Todays Time.
These companies make money by selling information about you, which is why you’re seeing ads for products that you can’t afford.
The good news is that there are ways you can encrypt your internet connection so they can't still your daily activity and personal information.
Web 1.0 and Web 2.0
The internet has evolved over the years. Web 1.0 was our introduction to the digital world, and it’s how we first experienced the internet.
But with Web 2.0 came a whole slew of new features, including social media. However, these new technologies are not without their drawbacks.
With Facebook, Twitter, Instagram, and Snapchat ruling the digital landscape, there are some things about this generation that are worth looking into.
Here's what you need to know about web 3.0 and why it matters for your kids' generation now and for future generations to come.
What is Web 3.0?
Web3 is an umbrella term used to describe the next generation of decentralized web services.
Web3 is all about making the internet more accessible, more secure, and more beneficial for users than ever before.
Its goal is to create a fully decentralized web that doesn't rely on third parties or centralized providers to operate.
Web3 isn’t so far-fetched either! There are already many projects out there dedicating their resources to building this next-generation internet.
How Web 3.0 is Useful?
Web3 is a vision for how the internet should operate.
Web3 is an evolution of the World Wide Web that empowers people to share information on their own terms.
Here, are some ways in which web 3.0 will change our lives for the better.
There are three pillars that make up Web3.0:
Decentralized Technologies,
Peer-to-Peer networks, and
Future Protocols.
1. Decentralized technologies:
It will allow for data to be stored in ways that don’t rely on a central authority, and it is no downtime, no heavy load, more scalable system.
Decentralized technologies in the world will avoid centralized control and high maintenance and usability charges.
2. Peer-to-peer networks:
It will provide connectivity between people without traditional intermediaries, so they can communicate without being monitored or censored by any third party.
Increase the usage of a smart contract without depending on any middle man and without paying any transaction fees or commissions to a third party.
3. Future protocols:
These are the underlying code libraries or kernels used to power various decentralized systems or applications.
Increase the system security and the smart contract usage in a more resilient way to build more trust for people, and society.
Is the Blockchain Future of the Internet?
Blockchain technology is radically changing the way we interact with systems and information, but what does it all mean? Blockchain technology is poised to revolutionize the way we interact with our world on a fundamental level.
It’s not just about cryptocurrencies like bitcoin, ether, Blockchain is more than just Bitcoin, It is a revolutionary technology that will change the world.
Blockchain has applications for industries as diverse as finance, health care, real estate, security, and more, and A great way to explore this is by examining Web 3.0, which is the next evolution of the internet.
Web 3.0 will be powered by blockchain and it will form an important part of our future lives, and this new web might affect your life and you need to prepare for it now.
Blockchain technology can be used to protect you against identity theft or ensure that safe drugs are reaching your pharmacy.
With the advent of web 3.0, blockchain has become more than just a buzzword. It’s an emerging technology that changes the way transactions are made on the internet.
Blockchain is not only transforming how we handle money, but it is changing how we live our lives, too.
How Web 3.0 is a New World of Internet?
When asked about the future of the internet, the founder of Mozilla Brendan Eich once said:
“The web is part of human culture. It’s not going away. But it needs to be saved from itself.”
– Brendan Eich
Blockchain technology offers a way for the global community to work together to save the WEB 3, or what many are calling Web 3.0, from being controlled by corporations and governments that have ulterior motives.
Cryptocurrencies are just one example of how blockchain can be used to create more equality in our society.
With cryptocurrencies like Bitcoin and Ethereum, we can use digital assets instead of relying on centralized banking systems that manipulate money for their own gain.
He said, As an independent digital agency, we have been making websites since the 90s. We’ve been witnessing the internet evolve from a curiosity to a necessity, and now it is a major part of everyday life.
We see the next era of the internet coming in 2020-2025. It will be called web 3.0 and it will be enabled by blockchain technology and cryptocurrency.
How is Web 3.0 Changing the Way of Transaction?
Web 3.0 technology like Blockchain is a shared ledger for transactions between people who don’t trust or know each other.
It can be used for anything from contracts to real estate sales, but it is best known as the technology behind Bitcoin and Ethereum which are cryptocurrencies that use blockchain technology to track transactions without involving banks or governments.
Summary
Web 3.0 is the new way of trading, learning, and exploring the products and services on the internet for our daily work.
It will solve the many problems which we are facing in web 2.0 like data breaches, less security, third party payment, paying more commissions, etc.
Blockchain, cryptocurrencies, and NFT will change the way of transaction and doing business massively on the internet in the world of Web 3.0.
Recommended Articles:
How Blockchain Works? : Introduction To Blockchain Technology
Why Do We Need Blockchain In The Supply Chain Industry?
Meet Hardhik, a seasoned professional analyst with a master’s degree in Data Science and Analytics from Dublin Business School, Ireland. With a robust background in the analytics industry, Hardhik is an expert in utilizing data analysis tools and technologies. His passion extends to coding and sharing his expertise through technical blogs. Join us in exploring the intersection of data science, analytics, and technology with Hardhik as your guide.
