The Internet has been witnessed as one of the hottest topics that are Web 3.0. It has revolutionized the whole web by bringing something new and advanced to look upon. These mind-blowing technologies are changing the way business’s function and get profits. The new generation of Web 3.0 has come up with lots of improvements and updates that has more benefits to offer the world.
There are some businesses that still are afraid to adapt to Web 3.0 as they don’t have any idea what is web 3.0 and how does it work? At this point, we can say that it is a similar case when people didn’t know about Google in 1999 or Facebook in 2004, or Bitcoin in 2010. The thing is that the latest technologies can be a great pick if you have got a good grip on them.
Before Web 3.0, we experienced Web 1.0 and Web 2.0 which have made a big change in our lives since their origin. In the below article, we have defined both along with the complete guide of Web 3.0. Keep scrolling to know about it in detail:
What is Web 3.0 Technology?
Firstly, Web 3.0 was devised by ‘Gavin Wood’, co-founder of Ethereum. It is considered the third generation of the WWW (World Wide Web) and can also be described as read-write-execute being referred to as the Web’s future. The Web 3.0 apps are known as decentralized peer-to-peer networks similar to IPFS and Ethereum. Users are the one who creates, operate, and sustain the networks, not the enterprises. Consequently, they manage all the things by themselves, and hence, there are fewer chances of failure.
In layman’s words, Web 3.0 has occurred the third iteration of the internet that helps in linking the data in a decentralized way. It speeds up the data delivery and provides an augmented user experience. There are used advanced technologies such as machine learning, artificial intelligence, and sematic web along with the Blockchain security system to keep the users’ data protected and unaltered. Previously, Web 3.0 is even called the Semantic Web by WWW founder Tim Berners-Lee and was considered a more intelligent, autonomous, and open internet.
While talking about what is web 3.0 crypto, you will see the strong connection between Web 3.0, Blockchain, and cryptocurrency. The reason behind it is that various Web 3.0 protocols are dependent on cryptocurrencies. There are offered tokens called monetary incentives to the individuals who are looking for developing, governing, conducive, or augmenting one of the projects. Here, the Web 3.0 tokens are called digital assets linked with the vision of decentralized internet development. These protocols are able to offer diverse services like bandwidth, computation, identification, storage, hosting, etc.
Let’s navigate to what are Web 3.0 Decentralized Applications (dApps). dApps are hosted by Blockchains permitting users to conduct financial operations including borrowing, lending, saving, loaning, & mortgaging. All these platforms work dependent on crypto tender including stable coins & cryptocurrencies, and collaterals including NFTs. Some of the Web 3.0 Decentralized applications comprise PancakeSwap, Sushiswap, and MakerDAO.
These apps work on the decentralization concept that provides high-level security to users’ data so that no one can alter it. Transactions processed on the network are displayed to everyone but without unleashing the users’ identities. The data is shared across varied devices such as IoT devices.
Technology Stack for Decentralized Applications
It is necessary to know about the technology behind Web 3.0 Decentralized applications. They are as follows:
- Decentralized application development doesn’t use centralized servers. Thus, there is no use in getting an understanding of servers and protocols of server storage.
- Blockchains are considered an integral part of DeFi platform development. Not only Ethereum, but there are also many other networks as well such as HyperLedger Fabric, Hyperledger Sawtooth, EOS, and Polygon by most DeFi applications.
- Smart contracts also play a significant role in DeFi exchange development. These are considered as a few lines of code developed using Solidity executing inevitably when there are suitable conditions. They also keep a track of transaction history which makes it a more appropriate option for DeFi firms.
- EVM (Ethereum Virtual Machine) helps in smart contract execution and updating the data on the Blockchain accordingly. Depending on Ethereum, it permits smart contact execution in different Blockchains.
Overview of Web 1.0, Web 2.0, and Web 3.0
Above you have got enough information about Web 3.0 definition, decentralized Web 3.0, and many more. Before getting more knowledge about it, you must have a look at the details of versions released before Web 3.0. Keep scrolling:
A) Web 1.0- Beginning of the Journey
To know about what is Web 1.0, 2.0, and 3.0, it is essential to go through these details first. Web 1.0 is the very first step of WWW advancement. WWW is known as the starting phase of how the internet was used including different apps and web services. Initially, it was developed as a Hyperlinked information system comprising a library full of information located on a screen linked with the system so that users can browse the data. In this phase, static websites ruled that time that were used to show the information and had communication abilities. CNN is such a fine example of Web 1.0. Other than that, some of the features of Web 1.0 are-
- Static web pages
- Read-only web
- One-way medium to publish
- Bookmarking & Page Hyperlinking
- No facility to attach images only could send text emails
- Use of tables & frames to place & align the webpage elements.
B) Web 2.0- A Make-it or Break-it Point
To get an understanding of what is the difference between Web 2.0 and Web 3.0, we must start with knowing Web 2.0. It is the initial part of the participative social web that was introduced at the end of the 1990s. We can also call it an improved version of Web 1.0. There is no alteration to any technical element, but the way web pages are created & used. The only difference between Web 1.0 and Web 2.0 is that Web 2.0 permits all users to communicate and interact with each other. It includes different online platforms and tools where people discuss and share their different opinions, viewpoints, experiences, and ideas.
Web 2.0 apps are created with the purpose of intermingling with the end-user. Features included in this are:
- Social web and participative web
- Read-write web
- User-created web
- Dynamic and responsive content
C) Web 3.0- New Step in the Internet Evolution
We can call it the third stage of WWW also known as the read-write-execute which represents the future of the web. The current era belongs to ML, AI, etc. to get the understanding of data the same way as people do. To know what does Web 3.0 mean, we can simply put it as a decentralized internet that has strong connections with Blockchain, NFT, and so on.
Web 3.0 doesn’t include any of the issues related to Web 2.0 such as saving personal information via private networks. It has more emphasis on advanced technologies like AI, ML, VR, etc. to suggest relevant data for every user.
How Web 3.0 Works?
Did you notice whenever you purchase something online, you started getting suggestions about the related products? The reason behind it is that websites use AI to understand consumer behavior and know their preferences. The transitions made in Web 3.0 will comprise related learning mechanisms for both apps and the web in an improved way. Web 3.0 development is brought to our lives to understand the consumers’ online behavior and then, provide them with similar content suggestions according to the users’ searches, interests, and activities.
Web 3.0 also comprises high-level use of P2P networks which makes it different from older versions. As a substitute for Dropbox or Google Drive to collect or share the data, users can use services such as Siacoin, IPFS, Storj, etc. Instead of Twitter & Facebook, you can use platforms like Hive, Steemit, or Akasha. Browsers like Brave have also been superior to Google Chrome due to its provided higher security.
So, this is how Web 3.0 works and has all these above-mentioned future alternatives to provide augmented services to users. It also includes security protocols, prevention of giant IT firms, anonymity, and more.
Read Also: What is the Metaverse? A Complete Guide
What is Unique in Web 3.0?
Not one, but various aspects are different in Web 3.0. This new Web version is expected to surpass previous versions on several fronts. Here are some of them:
Nowadays, 3D design is used at a higher level in Web 3.0 websites and other services. Some of the related examples are computer games, museum guides, geospatial contexts, eCommerce, and others.
Web 3.0 involves a semantic web, and it helps in improving the web technologies’ abilities to create, distribute, and interlink the content via search and analysis by getting knowledge about the words in comparison to numbers or keywords.
It includes the blend of semantic capabilities with natural language processing so that computer systems can get data on a human-like level to deliver more accurate and faster results.
Blockchain and Web 3.0 combination provide encryption and protection to users’ data. It averts large-scale firms from governing or using users’ information to get a profit.
Tokenization and NFTs
Web 3.0 will make artists and content creators able to sell out their work and art at valuable prices via tokenization. It has been already applied to the finance & entertainment industry mainly with the help of NFTs. The key benefit of NFT is that it is helpful to make slight purchases for shared ownership.
It is one of the main advantages of Web 3.0 development where data is more linked due to semantic metadata. With this, users get to experience more connectivity with all the data.
Businesses are already going towards dApp development services and Web 3.0 also includes this feature enhancing the possibility of data security. Here, data is collected within a P2P interconnection with the help of decentralized data networks. Users can uphold the digital assets’ ownership and can log in from anywhere securely.
When Web 3.0 will become highly adaptable to businesses, giants like Facebook, Amazon, and Google will no longer need their large-sized servers for collecting users’ data. In its place, internet users will have overall control over the data comprising login details, financial details, etc.
Web 3.0 provides agnostic apps when it comes to operating systems and devices. A single app will be able to work upon different platforms such as iOS, Android, Smart TV, MAC software, and comprising automobile computers.
With this, all the users’ data will be decentralized and shared across the network. It will not allow internet providers to spread that data to the countries they are in contact with. Hence, the data will be protected and encrypted by high-security protocols.
Best Examples of Web 3.0 Applications
Web 3.0 is emerging as a third generation of the internet. Web developers are using it to deliver data-driven apps and websites to their clients. Some of the Web 3.0 examples are mentioned below, have a look:
Meta, previously known as Facebook, is considered a giant social media app and Web 3.0 as well. It is also helping communities to build new societies by using Web 3.0. Till now, web developers have built over 300,000 Facebook apps to enhance customer communication and engagement on social media apps.
It is one of the finest examples of what can Web 3.0 do. It includes voice recognition software which is the main aspect of Web 3.0. These apps able people to communicate in a better way and provide exact results whenever they put a query. Here, semantic internet will help voice assistants like Siri, Alexa, and Google Assistant to provide the right answers to users.
Storj is considered one of the amazing Web 3.0 apps. It is cloud storage using Blockchain and data encryption before data uploading. It offers top-level security and privacy & splits the data into 80 pieces and spread them across the nodes worldwide. Users got a unique encryption key for the data access, but it can’t be gotten back once lost. The app has also got its own token.
It is a photo-sharing website permitting users to upload, create, or share images & entire photo albums that can be shared with any group. It includes more than 17 million visitors monthly every year. It also has a public database full of images with diverse categories. There is a slideshow to view the pictures with some advanced tools. It is faster to find any image or interact with the users with it.
5. Wolfram Alpha
It is a search engine created by Wolfram Research. You can also be considered an online service that answers directly and quickly by calculating from structured data. It can provide you with statistics set and more actions rather than just an article list like Google. It involves computational intelligence with the ability to collect & calculate all the relevant information to a query that is more substantial than any other available search engine.
Challenges Comprised with Web 3.0 Development
We have got to know how Web 3.0 is changing the internet, now let’s get to know about the challenges associated with Web 3.0 development. Similar to every other new technology that faces challenges after market launch, Web 3.0 has also got some downsides. Check out the following:
- Will it be able to handle the vast amount of data? We all know the Internet is huge, hence it needs a reasoning system to deal with data at a large level.
- User queries can be vogue sometimes and fuzzy logic will be helpful to cope with it.
- Web 3.0 must include probabilistic reasoning techniques that are beneficial to solving uncertainty.
- Inconsistent data can cause unpredictive evaluation and logical contradiction.
- Cryptography techniques are used to prevent the issue of getting wrong and misleading data.
Is Web 3.0 the Future?
The future of Web 3.0 seems very bright as it has comprised of decentralized Blockchain development services considered as the main center of its progression. Let’s see, how it will be to get a more improved and augmented experience combined with a faster and latest version of the internet. Web 3.0 has already got massive adoption by a large segment of businesses and has filled the public with lots of enthusiasm.
Web 3.0 appears to have high potential in the future along with more efficiency for businesses and people. Among all the web development companies, SemiDot Infotech is the leading company with a team of experts that has rich experience and capability to provide efficient web solutions. Feel free to contact us for any kind of app and website development services.