If you’re a techie or a nerd fond of exploring new upcoming technologies, you might have definitely come across the word “web 3.0”. This is the next phase of the internet and before diving into Web 3, we shall discuss its evolution.
In the early ’90s, there wasn’t an internet or web facility. Hence, People seek the library for gathering information. After, a man named Tim Berners-Lee got the idea of developing a world wide web. The web created at that time was the initial version of the web (web 1.0) where the content can be only consumed(read-only) and cannot be interacted with. It connects various web pages through which the information can be only read as it remains static.
To imply some improvements in the web, it started to take off. Fast-forward to 2k, today’s internet we access (web 2.0) emerged. At present, not only consumption but content can also be created (read, write). The current version of the web was coined by Tim O’Reilly. Here, the consumers create their own content and post them on their websites whereas the web owner will access the beneficiaries. The downsides of Web 2.0 are lack of privacy, data, and censorship. To redress those consequences, web 3.0 technology got its inception.
In layman’s terms, Web 3.0 is an internet endorsed by the users and creators harmonized with tokens.
Without any delay, here comes the Web 3.0 technology…
What is a Web 3.0?
It is the future of the internet based on blockchain where all the developers possess complete ownership over their work. All the data of the web is kept in the blockchain and is best known for keeping crypto transactions. Many people got attracted to Web 3.0 because of its decentralized nature. To be frank, Web 3.0 doesn’t need the permission of the central authority to assure whether to access the services or the trust. Web 3.0 focuses on protecting user privacy a cut above.
To put it simply, Web 3.0 is a semantic web where the content can be read, written, and executed. Web 3.0 technology comes with a combination of machine learning and artificial intelligence that aids computers in analyzing and storing data about what exactly humans do. The core principles behind Web 3.0 are Decentralization, openness, censorship resistance, trustless, immutable, and permissionless. This helps in the greater generation and distribution of valuable content based on the user’s needs and requirements. Rather than this, many folks have a query on the relationship between blockchain and Web 3.0. Let us discuss this further.
Importance of Blockchain in Web 3.0
The emergence of Bitcoin drafted the outline for the development of the Web 3.0 blockchain. Breaking the data of the blockchain is merely impossible and they have to break it into multiple pieces for accessing a single piece of data. Blockchain facilitated the storage of web 3.0 data into multiple copies of a P2P decentralized network.
Blockchain acts as a foundation of Web 3.0 technology in supporting the governance layer of the existing Internet. Incorporating the functionalities of blockchain and Web 3.0 will help in bringing out a back-end revolution. Most importantly, blockchain will act as a distributed world computer that will commute our view toward the internet. Some of the most crucial applications of blockchain in Web 3.0 include.
It is the core precept of Web 3.0 upon the other webs. In Web 3.0, data will not only be stored in a single ledger but in multiple locations simultaneously enhancing decentralization. Currently, the mountainous data held in the hands of powerful computing resources like desktops, mobile phones, sensors, etc will be sold by the users in a decentralized web 3.0 platform confirming the ultimate ownership control of the users. All the data stored in these decentralized networks are open to all thus avoiding middlemen.
As informed earlier, Web 3.0 technology has the potential of understanding all the information similar to humans by means of technologies like natural language processing and semantic web concepts. In Web 3.0, artificial intelligence also uses machine learning that comes with the algorithms of imitating humans to enhance its accuracy. This technology helps in bringing relevant results as per the user’s search.
NFT (Non-Fungible Tokens)
NFTs took the digital world by storm after 2021 as they lifted many artists’ lives to an extent. There evolved an art revolution after the inception of non-fungible tokens. NFT development will be the killer technology that maintains the ownership of Web 3.0’s goods and assets. In the future, the media stored will exist in the digital form in a decentralized manner. It acts as a key to various communities in offering incentives, and exclusive benefits related to NFT collection.
Not only these, but various applications of blockchain are also to be involved in Web 3.0. Currently, the crypto industry is running with Web 3.0 in terms of Dapp development, DeFi exchange, DAO (Decentralized autonomous organization), NFT development, etc.
Popular Web 3.0 Coins and Tokens
The following are some of the most prominent Web 3.0 cryptocurrency tokens and coins in the crypto marketplace.
- Helium (HNT)
- Chainlink (LINK)
- Filecoin (FIL)
- Flux (FLUX)
- Theta (THETA)
- The Graph (GRT)
- BitTorrent- New (BTT)
- Siacoin (SC)
- Basic Attention Token (BAT)
- Polkadot (DOT)
On knowing these Web 3.0 cryptocurrencies, you might be curious to know the features of Web 3.0 technology.
Aspiring Features of the Web 3.0 Technology
The key features of Web 3.0 blockchain include the below-mentioned ones:
Ubiquity is the term that means being present everywhere at the same time. To say it in simpler terms, it is omnipresent. In that regard, you might think that Web 2.0 is already omnipresent. For instance, Facebook is available everywhere with all having mobile phones. On the other hand, Web 3.0 has gone a step further by making the Internet accessible to people anywhere, anyone at any time. Not only internet-connected devices like smartphones and computers are focused as in web 2.0. But, IoT will conquer and engender a plethora of new smart devices in Web 3.0.
As we discussed earlier, Web 3.0 is becoming more prominent because of including artificial intelligence with it. Hence, it can understand various languages of humans. Coming to the point, semantics means the ability to understand numerous languages and emotions. For instance, Let us consider two sentences, I love Icoclone, and I<3 Icoclone. Both the phrases might differ but the semantics(meaning) here are the same. (Note: <3 is the emoticon that means love). In that sense, these two sentences illustrate the same emotions.
Basically, the semantic web focuses on guiding the computer on what the sentence means, allowing AI to reform the real-time use cases for the better usage of data. All the data that is stored in Web 3.0 will be connected as a spider web that facilitates enhanced data communication. This helps in offering a 100% user experience without any hassles.
Web 3.0 will help in upbringing three-dimensional upbringing of data(read, write, execute) from a two-dimensional web. Hence, Web 3.0 is popularly recognized as the future of the Internet. Online games, the virtual real estate market, and E-commerce are some of the use cases of the three-dimensional web.
As we know, many people are connecting throughout the world by means of the internet. We can’t even imagine a life without the virtual web. For instance, consider games like World of Warcraft or Decentraland, where gamers have a keen interest in their virtual avatars over their real-life counterparts.
By implementing these jaw-dropping features in Web 3.0, numerous advantages come in handy.
No intermediaries are involved in Web 3.0 which helps in minimizing the efficacy of denial-of-service (DOS) attacks.
- Extensive algorithms included in Web 3.0 helps in offering more accurate and user-demanded results.
- Most-refined results as per the search can be obtained based on the semantic web concepts. Simply, specific information can be obtained with ease.
- The most positive user experience is the aim behind the inception of Web 3.0. Users can get a better experience by engaging with some support team influenced by the AI chatbots so that they can get a lively feel. All these are possible with Web 3.0
Web 3.0 Internet will offer more sovereignty and amplified user experience in the upcoming digital world. Many industries are urged to incorporate virtualization ideas like Metaverse, NFT gaming, Big data, etc in their businesses. It is predicted that the whole world will move towards digitalization in the upcoming years. Hence, it is more suggestible to create any of the Web 3.0-based applications for generating greater revenue like Sapien, Everledger, LBRY, etc. There are many companies prevailing and upcoming for offering Web 3.0 development services.
Icoclone is one of the best Web 3.0 development companies in the current marketplace. You can develop and get an idea of whatever application you wish to create in Web 3.0 with blockchain. Not only this, Icoclone is a top-tier crypto development company in the cryptoverse. We have more than 700+ reputed clients across the globe. We focus on offering services for the utmost satisfaction of our clients. So, get in touch with Icoclone and kickstart your Web 3.0 development!