With the advent of NFT’s and metaverse, Web 3.0 is also increasingly gaining importance, but it isn’t a Completely new phenomenon.
It was created in 2014 by Gavin wood, Ethereum’s co-founder. Web 3.0 is referred to as semantic web by Tim Berners Lee for its potential to transform internet experience by directly engaging with users, devices and Systems in Smart homes, Smart vehicles and workplaces. But before we understand about web3 0, It’s important to know about it’s previous versions. That is web 2.0 and web1.0. Web 2.0 was created in 2005, it is an advanced version of the web 1.0 web 2.0 basically deals with the change from the Static-content to user-generated dynamic contents.
Examples include applications like Google maps, Google docs, Facebook, twitter etc.
What is web3.0?
The three main foundations of web3.0 are Artificial Intelligent (Al), Internet of things (IoT) and blockchain Technology. Blockchain will help in achieving decentralized data Storage and develop faith in the virtual world. The arrival of Bitcoin was one of the first points for drawing the outline for web 3.0 The Bitcoin blockchain and other protocols helped in creating networks where hackers would have to break into multiple houses all over the globe for accessing data in one house.
Al will help in decoding and filtering online data and offering the most relevant choices to users. IOT will help the interoperability layer of web3.0 to Connect the internet to smart devices. It has been created to provide better and relevant internet experience by interpreting the digital footprint of users continuously.
An Example of this kind of experience is when a use come across related items on e-commerce platforms like Amazon that shoppers with similar purchases profiles have bought. However, the above approach benefits the internet controlling agencies and makes them the owner of the user’s data, which is then sold to third-party advertisers. Hence, private data of the user are misused, Web 3.0 would reverse the current mechanism and the users sole owners of their data. Web 3.0 users would also get relief from unwanted and Unskippable advertisements and popups.
Changes to the digital world due to web 3.0
The new technical innovation web 3.0 highly transforms the internet space digitally. It has the potential to change the traditional business would into a digital space. This will help entities to find their audience and customers online by giving them a new user experience. It would bring decentralized autonomous organizations (DAO’s) and decentralized data market places. It will change in a major way the way humans and machine interact by allowing trust less data transfers automatized, crypto currency-based payments etc. Currently Ethereum is leading the foundation of many emerging web 3.0 applications. D apps cannot be blocked on them access can’t be controlled by any central authority. NFTs are growing at an exponential rale and recently NFTS are being implemented and used in games and digital worlds.
Web 3.0 is going to introduce several new technologies including intelligent systems, semantic web. decentralization, metaverse, digital assets, and more. One thing is for sure. With all this innovation and development, security (data, web, and everything else) is going to be a major problem. That means, there is going to be a huge need of security experts and security related systems.