Web 3.0 is the next evolution of web 2.0 and is not just limited to the internet but is an extension of the internet to everything. It can be considered a global brain or a computer network of things with shared data and software. Every device has its identity, security, and privacy controls and can communicate with any other device on the network without human intervention except for the initial setup or configuration tasks. The world we live in today has been transformed by this new technology-driven paradigm shift called web 3.0.
Essentially it’s an internet powered by blockchain, an internet that wasn’t possible before. All the benefits that blockchains provide, like the internet of value decentralization, trust minimization, and permissionless, sound like big fancy words that you may not understand at first glance. Still, these critical characteristics allow web 3.0 to create new business models and reinvent how the internet works.
Examples of things you can do with web 3.0
“Cryptocurrency ” this is actually creating a form of money that is native to the internet, and you couldn’t exactly do that with the internet before we had blockchains. One significant characteristic of web 2.0 is an internet powered by databases. Data Silos live on somebody’s central server and the last thing you want to do is give somebody who owns a central server the power to create money because they could manipulate.
The money supply or your balance is how they see fit because they have complete control over it. Still, if you have a web 3.0 blockchain power internet, people share copies of the code and all the data across multiple computers where it can’t be manipulated. So that’s an example of decentralization, an example of the internet of value distrust minimization. Now we have permissionless, which is one of the other things I said.
You see, that play out in decentralized finance would take this to the next level where you have not only just cryptocurrency but things that you can do with cryptocurrency that you would typically do in the regular financial world and also new stuff like trade cryptocurrencies you can do this in a permissionless way you don’t have to ask anybody permission to get on a decentralized exchange or a deck to trade.
You don’t have to provide your identity information which essentially retains more of your privacy, which you give entirely up in web 2.0 now; these are two common examples of apps that exist right now. You know crypto and d5 examples of web 3.0 use cases.
Web 1.0
Web 1.0 started as the first version of the internet, primarily categorized by static websites that don’t do much besides just display information on the page. You can go to a website it’s got, you know, some text on it, some pictures, an excellent design, maybe a hit counter you might be able to email. That website around, perhaps that’s how you find out about new websites.
Web 2.0
Web 2.0, where you have a much more sophisticated user experience on the internet that creates new possibilities where you have actual web applications where you’re signing up with a username and a password where you start to be able to access the internet on a mobile device you see social networking start to absolutely exploding e-commerce takes off like a rocket ship and tons of new business models entirely.
Top 10 features of web 3.0
Decentralized
Decentralized is a word used to describe a system where no single person or group has control. It’s the opposite of centralized, where one entity controls everything. Decentralization has been around for quite some time, and now more than ever, we realize its true potential.
Faster than current Technology
Web3 technology is a new and improved version of the current technology that powers the internet. The main idea behind faster web 3 is to create a quicker, more secure, and more user-friendly web. We need to know how speedier web 3 is an evolution of the current internet that would make it faster, safer, and less expensive for users.
The new web would be based on three main points decentralized data storage, peer-to-peer networking, and cryptography to make data transfer safe.
Secure
Web 3.0 is more secure. Many new features have been introduced that enable a much more secure and stable internet. One of the most popular and common uses is introducing blockchain technology for storing and transmitting data. This makes it much more difficult to hack or manipulate data keeping it secure for all users.
Stability
web 3 is the next version of the world wide web that is meant to be decentralized. This technology will provide a more secure internet experience. All users must store their data on their own devices, not third-party servers. This will also eliminate problems with security breaches and data leaks that have been so common.
User-friendly
It is more user-friendly than its predecessors, expansive, and powerful. It has outgrown its sandbox and now permeates every aspect of our lives. Web 3 technology is the next internet generation and will likely replace web 2. It is more user-friendly than its predecessors and has outgrown its sandbox permeating every aspect of our lives, from our homes to the workplace.
Scalable
It is upgraded to the current web system that will be able to handle the continued growth in internet usage. The upgrade will take place gradually, and it is unclear what changes will happen to make this happen.
Web 3.0 is an upgrade to the current web system that will be able to handle the continued growth in internet usage. The upgrade will take place gradually, and it is unclear what changes will happen in the new system.
Privacy
Web 3.0 technology is rapidly evolving. It’s using “blockchain” to create a secure decentralized internet. This will give people the ability to make their own identities. This will be the first time in history that individuals have control over their data rather than relying on large centralized companies.
Transparency
Web 3 is the future of the internet. This will make an already transparent web even more evident, with users able to view all transactions via block explorer. In the end, web 3.0 will be a more transparent web where users can view any content they want. This is already possible with some browsers and search engines, but it will be taken to the next level.
Open Source & Free Software
It’s a different way of interacting with technology with a focus on decentralization, privacy, and being free from censorship. It includes projects such as “Ethereum,” “IPFS” and the “inter-ledger protocol.” It will play a massive role in the coming years and needs to be free from being controlled by a single entity, so it remains open-source.
Better Web around the Globe
Web 3.0 is a new web that is a better web for all. Web 3 is an internet that empowers individuals by giving them more control over their data and that of others. It’s decentralized, meaning no company controls its content, infrastructure, or use. Read more blogs here.