Tim Berners-Lee introduced the first Web version in the 1990s in Switzerland, and since then, the mode of operation has changed significantly, particularly in terms of interaction and data utilization.
The www has undergone many adjustments from its initial state as a readable model to its current status as being both readable and write.
The third stage in the evolution of the internet is now upon us, the stage where users have the real power. Web 3.0 After establishing itself as a significant trend in Blockchain technology, Blockchain is the real revolution that has begun to emerge in various parts of the internet.
Web 3.0 is getting ready to transform how businesses run and how internet users engage with the digital world, driven by the most disruptive technology of our time. In this post, we’ll go into great detail about Web 3.0 Blockchain, including what it is, what it comprises, the advantages it offers, the sectors it will transform, and how a business can use it to its advantage.
Web 3.0 and the sweeping changes it will bring to the entire digital world are the subject of many rumors. However, despite all the hoopla, relatively few people are aware of the factors that led to this web version, the background of Web 3.0, or the changes it would usher in.
It’s critical to consider Web 1.0 and Web 2.0 in the past in order to fully comprehend Web 3.0.
Web Evolution from Version 1.0 to Version 3.0
Web 1.0
The World Wide Web domain’s “readable” stage was overrun by flat material. There is hardly any interaction between web users and websites in Web 1.0. At its core, Web 1.0 was an information gateway that provided users with information in a passive manner without giving them a voice.
Web 2.0
Everything that Web 1.0 stood for was altered by Web 2.0. It made it possible for customers to communicate with companies. The World Wide Web’s “writable” phase, when users could freely communicate with one another, promoted high engagement, greater collaboration, and real-time information sharing.
The advent of social media and Online 2.0 made the previously passive web interactive. Both brands and customers now have a voice that they may use to express their ideas to the rest of the world. The era of total transparency and exposure was arrived.
For people without a voice and those wishing to reach a global audience, Web 2.0 was a dream come true. up till….
The UN discovered that between 2000 and 2015, the number of internet users climbed from 738 million to 3.2 billion. Additionally, they were taking a ton of data with them.
Big businesses started storing data in the centralized systems of Amazon, Facebook, and Google as soon as they understood that the unfathomable amount of personal data they now had at their disposal was their most valuable asset.
Internet consumers began to forgo their security in favor of more convenient services, and before they knew it, their surfing patterns, identities, and online shopping were being sold to the highest bidder with dubious intentions.
Launch of Web 3.0
The bad side of this concentration of data in the hands of tech goliaths with money and connections quickly became apparent. The first reports of well-known brands selling personal data carelessly began to surface.
Users began to turn away from convenience and began debating the value of a feature that was leaving them exposed as the incidents that were steadily resulting in financial loss and identity theft progressed.
It was time to give users of data back their authority.
Decentralization was required, Blockchain provided the means, and Web 3.0 was the intended outcome.
Describe Web 3.0.
The answer to the question “What is Web 3.0 technology?” is that it is a fair and open network where individuals may engage without worrying about their privacy or security. By combining the strength of Artificial Intelligence and Big Data, the web version will make the internet intelligent while also making the web semantic.
The era of Web 3.0 is when Blockchain will enable the web to become more human.
Blockchain will be the driving force behind the web’s data management and collection procedures. With the use of AI and IoT, the technology will combine all the concentrated data and turn it into information that cannot be copied or hacked.
Blockchain Stack for Web 3.0
Although we will have little to no influence on end users as we go from Web 2.0 to Web 3.0, the backend will undergo a revolutionary change. The fundamental technical foundation of the web must be altered in order for a client-server architecture to become open and decentralized.
Although the Web 3.0 blockchain technology stack has not yet been released, this is how we anticipate it to look:
While an app often sits at the top of the tech stack, this is not the case with decentralization-driven solutions because blockchain components are primarily back-end oriented. There are additional components above the app level as a response to how the Web 3.0 IT stack will work for this reason.
The utilization of Web3.0 can be improved by the development of semantic technologies. It is crucial to build this technology on blockchain logic in order to make it a tool for data protection. Since the true blockchain logic will guarantee that we carry our data locally, Users will remain aware of the data block creation thanks to the peer-to-peer review system.
Examples of Web 3.0 Dapps in the Real World
The Dapp-driven web version offers consumers a variety of alternatives to the centralized data-driven conventional business models. There are platforms and apps created by blockchain development companies that claim to be the decentralized, user-centric alternative to the centralized platforms supported by monopolizing IT behemoths even now, before Web 3.0 has even emerged.
The Importance of Web 3.0 for Your Business
Web 3.0’s impact on company will be to make them more transparent and user-centric. There will be a radical transformation in everything that was wrong with how corporations handled customer data in the past.
How will companies leverage web 3.0 technology, then?
Businesses, both old and new, will open the doors for blockchain technology and the advantages it delivers. Your apps will receive a Blockchain makeover, making everything transparent and accessible to everyone.
A part of Web 3.0
The incorporation of blockchain technology will not be sufficient to meet the demands of Web 3.0 Blockchain since other technologies will need to collaborate and advance. The major elements of Web 3.0 will be the contemporary emerging technologies, which will make the web decentralized and semantic.
The user interface of the digital web will merge with the actual, physical environment using augmented and virtual reality as well as high-fidelity 3D visuals. We will increase our ability to bring physical objects into the digital world and digital objects into the physical world, bridging the gap between the digital and physical environments.
Through internet-connected computer interfaces on real objects, the Web will be pervasive thanks to IoT devices operating on ever-improving networks like 5G. Everything will be online-connected, including watches, vehicles, drones, ovens, and refrigerators.
Computers will evaluate and learn on the fly using artificial intelligence technologies to provide user-centric interactions. By analyzing structured and unstructured data sets, capabilities like chatbots acting on the front end and machine learning algorithms operating on the back end will make user experience relevant and semantic.
Benefits of Web 3.0
Both for and against monopolies
Pro-privacy and anti-monopoly models will be on the table thanks to Web 3.0 capabilities. It won’t encourage centralized platforms to retain ownership of consumers’ data. Decentralization and privacy will take the lead in this turnaround. Users now have choice over how their data is seen, ending the monopoly of tech firms and reducing to zero the number of data privacy hacks.
High Security
The Web 3.0 will be significantly safer than earlier versions. Because of its dispersed and decentralized character, it will be hard for hackers to access the network without their involvement being discovered.
Ownership of Data
Up until now, tech giants managed and made use of the data that users created. Web 3.0 will be driven by blockchain, giving people full ownership of their data. The entire data being transferred across the network will be encrypted. Users will have the option to choose whatever information they wish to disclose to businesses and advertising agencies, and they will be given the chance to profit from it.
Interoperability
Users would be able to access data across numerous applications thanks to Web 3.0 features without being restricted to a single platform. This implies that you won’t need to worry about one device being able to access Web 3.0 but not another.
Unrestricted Blockchain
Blockchain on Web 3.0 won’t require a centralized organization. By creating an address, anyone can sign up for the network and engage in its activities. This will stop people from being blocked because of their gender, income, sexual orientation, location, or other sociological considerations. Additionally, it will enable the swift and inexpensive cross-border transfer of wealth and digital assets.
Across Industries: Web 3.0
Social Media
Social networks play a very important role in our daily lives. It has the potential to alter how we interact, communicate, and build communities. The platforms have one or more agendas and are censored and constrained.
Web 3.0 fundamentally alters the way social media applications are created by app development companies. It transfers data control away from platforms and puts it back in the hands of the end users, making it impossible to fabricate a story and prevent the misuse of data, as was the case with the Facebook Cambridge Analytics Scandal.
Web 3.0 Social Media Advantages
- No centralized body to collect and use data
- Empowers users by giving them resources
- The consumers’ privacy should be respected
- Impersonation is no longer feasible.
Services for Currency Exchange
The centralization of money exchange is ineffective. Failure was demonstrated in the Mt Gox breach, in which $460 million worth of bitcoins were stolen. Decentralized exchange is the answer to exchanges becoming a haven for hackers. Decentralized exchanges will become more popular in Web 3.0 because they offer a flawless user trade experience without worrying about hacker concerns or a lack of transparency.
Web 3.0 Currency Exchange Advantages
- Time and cost-effective transactions
- Challenging to hack
- Functions flawlessly with hardware web3 wallet
- Having complete control over users’ money
Messaging Services
Our lives have always included a lot of messaging. While Facebook Messenger and WhatsApp have dominated our personal communications for as long as we can remember, Slack and Telegram are replacing them at work.
Even though there are less complaints about the current messaging platforms, there are still two problems that messaging app users must deal with: unsafe message transmission and a reliance on centralized solutions that leaves the platforms vulnerable to attacks.
Web 3.0 powered messaging apps like ySign, Obsidian, e-Chat, etc. that rely on the power of Blockchain to maintain users’ privacy and security are the answer to these problems.
Web 3.0 Driven Messaging Apps’ Advantages
- Maximum privacy
- Using data for advertising is not possible
- Sending assets quickly and securely
- Transactional speed
Storage of Data
Usual users typically store their data in iCloud or Google Drive. For businesses, however, the situation and demand are quite different because they want a lot more reliable and highly scalable centralized solution for data storage.
The majority of data storage systems available today are centralized, which means that the data can be changed or sold for marketing purposes. Something that companies like T-Mobile, Uber, and LinkedIn have already succumbed to.
The decentralized storage system that comes with Web 3.0 offers a remedy for this. The notion is that the files and data are first encrypted before being shared across a peer-to-peer network, which means they are not kept in a single location but rather on many nodes.
Web 3.0 Data Storage Advantages
- Functions effectively across blockchain platforms and solutions
- Encrypts data being transferred in a secure manner to protect it.
- Lack of a centralized organization
- Effortlessly integrates with next technologies like IoT
Streaming Service
One of the modern economies that is booming the fastest is streaming. The market is renowned for elevating companies like Netflix and Spotify to the top of the entertainment sector.
However, despite becoming one of the most lucrative industries, streaming services still face criticism that the artists are not being compensated fairly and that the data is being exploited for advertising.
These nagging problems for Web 3.0 are resolved by blockchain’s decentralization and smart contract features.
Web 3.0 Streaming Services’ Advantages
- Creators of content can operate openly
- Because of smart contracts, there are no copyright issues.
- Absence of ridiculous regulations for content producers and streamers.
Coverage
Both the insurance and banking industries have long faced criticism for being for-profit businesses. They have been working to change this perception by exploiting the decentralized and open characteristics of blockchain technology.
A reality of Web 3.0 will be the ability to file insurance claims and eliminate fake claims thanks to technology. Additionally, it will make Open Banking a reality, which has long been considered to be a distant dream.
Web 3.0 Insurance Benefits
- With fewer or no scams
- Increased client satisfaction
- Hassle-free international payments
- Transparent bank internal audits.
Internet
The two technological titans that currently control Web 2.0 are Google Chrome and Mozilla Firefox. But a decentralized network is required for a web to be as philosophical as Web 3.0. These new web browsers ought to be able to store user data without disclosing it or exploiting it to further their own commercial interests.
Web 3.0 browsers should offer consumers the opportunity to receive paid in exchange for sharing their personal information while also encrypting their data to safeguard it.
Web 3.0 Browsers’ Advantages
- Users can browse the internet secretly.
- Few security vulnerabilities
- Users who sell their data can receive compensation.
- Fast and safe
Read Also: Cross-chain Messaging Protocol Nomad Bags $22.4M Seed Financing Led By Polychain Capital
Written by: Sophia Mills | Edited by Arun Shakyawar
Aboout the Author
Sophia Mills is a content writer with Suffescom, a web3 consulting company. She writes on the blockchain industry trends reflecting the viewpoints of her company.
