The internet is one of the inventions that changed the world. Its emergence has led to several other inventions, including social media platforms. In this article, you will learn more about web 3.0 and why it’s the future of the internet.
Web 3.0 is the latest internet technology that achieves real-world communication via machine learning, artificial intelligence, and blockchain.
The beauty of this latest internet technology is that it allows users to own their data and compensate them for every time they spend on the web.
Oh! Are you surprised already? Don’t be; keep reading to learn more about his technology and why experts consider it the future of the internet.
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What Exactly is Web 3.0?
Basically, web 3.0 (commonly referred to as web3) is the third iteration of the internet. But it’s a big deal because it interconnects data in a decentralized way to deliver a more personalized and faster experience to users.
Interestingly, the entire operation of web3 is based on artificial intelligence, machine learning, and the semantic web. It also uses a blockchain security system to keep user information safe and secure.
Web 3.0 technology is exceptional compared to other internet technologies. Perhaps, it’s because the technology focuses on decentralization, openness, and incredible user utility.
Generally, the brain behind using the semantic web is its ability to understand and interpret the context and concept of data.
So, whenever someone uses web3 to search for information online, it delivers the end-user the most relevant and accurate information. And that is why experts believe that the technology will shape the future of the internet.
For instance, tech giants like Microsoft, Google, Facebook, etc., are companies that currently make a massive fortune from user data. I mean, our data.
However, web3 will ensure that our time and data are well compensated for. Currently, tech firms have exploited almost everybody using the internet directly or indirectly.
These firms lured us to give valuable information about ourselves with little or no compensation. But web3 will change the narrative; it will ensure that everybody will be well paid for the data they share.
Therefore, you can sell your data to online advertisers while still retaining ownership and data privacy. And the technology will ensure that websites and applications use user information in a more meaningful way.
In a nutshell, the third generation of the internet will help people have personalized interaction with machines and websites.
What are the Key Features of Web 3.0?
Till this moment, people still find it challenging to understand the concept of web 3.0. Since John Markoff of the New York Times coined the term in 2006, people have been researching it.
In this section, I have outlined the unique features that will help you understand web 3.0.
#1. Semantic Web
One of the features of web3 is semantic web. It provides software programs with machine-interpretable metadata of the published information and data.
In a nutshell, the semantic web adds further data descriptors to existing content and data on the web.
And the essence is to improve web technologies to generate, share, and connect content via search and analysis based on the ability to understand the meaning of words.
From the above explanation, it’s pretty clear that keywords and numbers will have little or no role in the future of the internet.
#2. Artificial Intelligence
Artificial intelligence is one of the defining characteristics of web 3.0. The technology helps computers to understand information like humans to enable them to provide faster and more relevant results to users.
In other words, in web3, computers will become more intelligent to satisfy users’ needs. Everything about the internet during the third generation will be user-centric.
#3. 3D Graphics
Images and designs in web 3.0 are predominantly three-dimensional graphics. Museum guides, computer games, eCommerce, geospatial contexts, etc., are now using this feature.
But when web3 fully takes effect, the images and designs on the internet will be more 3D graphics. And that is because web3 is ushering in a golden age of user information access.
In web 3.0, information will be more connected through semantic metadata. And this will bring user experience to a whole new level of connectivity that uses all the available information.
Like I mentioned earlier, web3 ushered in a golden age of information access. So, users can access content through multiple applications. And that is because every device will be connected to the web, and users can use the service everywhere.
Furthermore, web3 will make the development of many new types of intelligent gadgets easy through the Internet of Things technology.
The third generation of the internet is open. The technology itself is developed with open-source software designed by an open and available community of developers.
How Web 3.0 Can Change our Lives?
By now, you should understand the concept of web3 and its feature. But what we will be discussing in this section is how technology can change our lives.
When I discuss web 3.0 with people, the first question they ask me is how accurate this technology is and how it can change our lives.
Well, if you have been asking a similar question, consider today your lucky day because I’m about to answer that question.
The whole essence of web3 technology is to make life easier and more enjoyable. That is, it’s changing the internet narrative into a more user-centric environment.
Software like Siri, Alexa voice, etc., are web 3.0. When web3 entirely takes effect, you can automate almost every aspect of your life.
For instance, you can be driving and ask your automotive assistant a simple question like, “I would like to watch a nice action movie and eat Chinese food.”
And your assistant will provide you a personalized response by considering your location at the moment and suggest the closest cinema and an excellent Chinese restaurant by going through reviews on social media.
The good part is that your car assistant will get all this information in a few seconds. Sometimes, the assistant may present a 3D menu from the restaurant in the display of your car.
Are you surprised? The world will be like when web 3.0 fully takes effect. So, if you think the web3 technology is just a dream, you are mistaken.
It’s gradually becoming a reality. With the widespread of the semantic web and artificial intelligence, the future of the internet is already here.
What is the Difference Between Web 1.0, Web 2.0, and Web 3.0?
My bad! Before I explain web3 further, let’s quickly discuss web 1.0 and web 2.0. This older version of the internet will help you understand how we get to this stage.
The entire journey of the internet so far can be summarized as follows;
- Web 1.0 is read-only. During this time, people could only read information written on websites.
- Web 2.0 is a read-write web. This version of the internet enables people to read and write content on websites and applications.
- Web 3.0 is a read-write-interact web. This version of the web has been predicted as the future of the internet. It enables users to read, write and interact with content; it includes 3D graphics on websites and apps.
Now, let’s let more about the history of the internet in full. Are you ready? Let’s proceed.
Web 1.0 (1989 – 2005)
The whole World Wide Web stuff started in 1989 and was active till 2005. The first internet technology was named web 1.0.
It was the invention of Tim Berners – Lee in 1989. He invented the World Wide Web while working at the European Organization for Nuclear Research.
The elements of web 1.0 were;
- HyperText Markup Language (HTML)
- HyperText Transfer Protocol (HTTP)
- Uniform Resource Locator (URL).
The primary purpose of web 1.0 was to find information. While the innovation was exceptional, web users couldn’t interact freely with the technology because it was read-only.
And any further discussion users wanted to have about a particular topic was done offline.
Again, It was tough to navigate through the World Wide Web (WWW) with web 1.0. And that is because there were no search engines available as at then.
Before you can visit any website, you must know the exact URL. Otherwise, you can visit that website.
However, during the mid-1990s, the narrative changed for web 1.0 when Netscape Navigator was introduced. And it became the first commercially successful web browser.
Interestingly, the browser pioneered several unique features that web users still use today. Some of these features are;
- Displaying a web page as it loads.
Unfortunately, Netscape Navigator was sent out of business by Microsoft during their browser wars.
Web 2.0 (1999 – 2012)
Web 2.0 is another popular version of the internet; it’s often described as the second generation of the internet.
The term web 2.0 was first coined by Darcy DiNucci in 1999 in her article – Fragmented Future.
But the concept was popularized in late 2004 by Tim O’Reilly and Dale Dougherty. Most of us are familiar with this stage of the internet.
As of 1999, people could interact with each other on the internet via social media platforms, content blogs, and other services.
Shortly after, smartphones were created, and mobile computers were equally launched.
These innovations enabled internet users to interact in discussion forums online and create content that other internet users could access, like, comment on or share.
The web 2.0 ushered in the era of Instagram influencers, Yelp reviewers, and of course, social proof.
Interestingly, the read-only mode became outdated as web 2.0 allowed interaction among users.
According to O’Reilly et al., web 2.0 shifted the world from static desktop web pages created for information usage through expensive servers and toward interactive encounters and user-created content.
Surprisingly, brands like Uber, Airbnb, Facebook, and other social media platforms became popular during the reign of web 2.0
What is Web 2.0 Core Layers of Innovation
The entire web 2.0 was driven by three core layers of innovation: mobile, social, and cloud.
Since the emergence of the iPhone in 2007, there has been widespread mobile connectivity to the internet. It allows users to be online almost every time.
However, the purpose of web 2.0 was beyond receiving the information we add to the internet. It also collects data from users, analyzes and adds the data to the web.
Web 2.0 also has functionality that makes it possible for smart devices to track users’ whereabouts, purchasing habits, financial activities; the list is endless.
The emergence of social media platforms was a turning point for the internet. Before social media platforms like Friendster, MySpace, and Facebook were launched, the internet was boring. It was dark and anonymous.
These social media platforms encourage people to create more content, share photos online, and make friends with people far away.
The cloud is also one of the web 2.0 core layers of innovation. It makes the creation and upkeep of internet sites and applications a commodity.
During this time, brands transitioned from purchasing and maintaining their costly and specialized infrastructure upfront to renting warehouses, computation power, and management tools.
Interestingly, several companies enjoyed low-cost resources, which contributed greatly to their growth.
Throughout this period, the internet became an integral part of our lives. It became more valuable and participatory. But it made the web more centralized than ever.
During the reign of web 2.0, there was an increase in collaboration, which introduced new ways of organizing and connecting with others.
Then again, web 2.0 also triggered online stalking, cyberbullying, doxing, distribution of false information, identity theft, etc.
The Fall of Web 2.0 and the Need for Web 3.0
By the end of 2012, web 2.0 became obsolete as people became aware of web 3.0.
Most of the web3 related services are currently dominated by tech giants like Facebook, Microsoft, Amazon, and Google. It raised a series of complaints.
For instance, customers had limited management over their information, which led to several allegations against some of these behemoths.
People blamed these big tech companies because they mistreated users and took advantage of their information. And this is a serious privacy breach.
For instance, Frances Haugen – a data designer and scientist who worked as a product manager, blew the whistle on Facebook’s misconduct.
In a recent interview with CBS, she accused Facebook of ignoring the spread of hate and disinformation on its social media platforms.
In her statement, “The thing I saw at Facebook over and over again was there were conflicts of interest between what was suitable for the public and what was suitable for Facebook. And Facebook chooses to optimize its interests, like making more money repeatedly. “
Of course, Facebook refuted Haugen’s allegation. And there are several other instances when big tech companies were held accountable for their conduct.
Web 3.0 (2006 Till Date)
Like I mentioned earlier, a New York Times reporter – John Mark Off coined the term Web 3.0. And it seems to be the return to Berners-Lee’s Original Semantic Web concept, which focused on the absence of central authority approval and central controlling node.
What are the Layers of Web 3.0?
As you already know, web 2.0 was driven by the introduction of smartphones devices, social platforms, and cloud technologies.
However, web 3.0 runs on different layers of innovation: edge computing, decentralization, artificial intelligence, machine learning, and blockchain.
Edge computing is one of the driving forces of web3. It involves moving the data center out to the edge. Sometimes, these data are shifted straight into our hands.
In web3, advanced computing resources are distributed among phones, laptops, and appliances to complement data centers. This will help to produce and consume 160 times more data in 2025 than in 2010.
Decentralized Data Network
The decentralized data network is also one of the core layers of web 3.0. It enables different data generators to sell or trade their data without losing ownership, risking privacy, or relying on intermediaries.
In web 3.0, users own their data; it allows you to securely login over the internet without being tracked with your internet identity.
Artificial Intelligence and Machine Learning
Artificial intelligence and machine learning algorithms have advanced with the emergence of web 3.0. These technologies can now make valuable and life-saving predictions and take action.
Furthermore, the internet needs AI to deliver accurate data and discriminate between genuine and fraudulent.
Blockchain is the foundation of web 3.0. You can discuss web3 without talking about blockchain. It redefines the data structures in the backend of the semantic web.
Blockchain is a system of recording information that makes it difficult or impossible to change, hack, or create the system.
Blockchain is a digital ledger of duplicated transactions distributed across the entire network of computer systems on the blockchain.
It’s a decentralized state machine that users can deploy intelligent contracts.
How Does Web 3.0 Work?
The essence of web 3.0 is to make searches on the internet faster, easier, and more efficient.
During the web 2.0 application, the user will have to interact with its frontend, which communicates with its backbends before the final communication gets to the database.
While the entire code is hosted on centralized servers, which are now sent to the user via the internet browser.
However, Web3 doesn’t have centralized databases or a centralized web server for backend logic.
Instead, the entire operation and functionality is based on blockchain, which builds apps on a decentralized state machine.
Web 3.0 Architecture
Generally, the architecture that makes up web 3.0 has four unique elements, which are;
Ethereum blockchains are state machines that are accessible worldwide and are maintained by a peer-to-peer node’s network.
Anybody around can access the ethereum blockchain and write to it. Of course, it’s not owned by an individual or a single entity. Everyone in the network collectively owns them.
While users can write to the Ethereum blockchain, they can’t update existing data. The existing data are secured and can’t be updated without higher-level approval.
Smart contracts are programs that are run on Ethereum Blockchain. App developers write the programs in high-level languages like Solidity or Vyper.
Ethereum Virtual Machine (EVM)
The Ethereum Virtual Machine helps execute the logic defined in the smart contracts. They are responsible for processing the state changes on the state machine.
The frontend of web 3.0 defines the User Interface (UI) logic. In a way, it’s also connected with smart contracts that define the application logic.
What are the Advantages of Web 3.0?
You have read so much about web 3.0 already. And this latest version of the internet is more intelligent, secure, and transparent. It gives users more excellent browsing experience and interaction with machines.
So, here are some of the advantages of web 3.0;
#1. Data Privacy and Control
Generally, end-users will benefit most from web3. It gives them data privacy and control. In web3, users enjoy data encryption to protect their information.
Nobody can break this encryption. And it will prevent tech giants like Google and Apple from using your personal information for their interest.
So, in web 3.0, you will have complete ownership and privacy of your information.
#2. Seamless Services
Seamless services are one of the best advantages of web 3.0. The data storage is decentralized to make it accessible to users in any situation.
So, you will get several backups to fall back on whenever there are server services. But no entity or government organization can stop any services or websites during web 3.0. which means you don’t have to bother over account suspension or denial of distributed services.
Transparency is one of the major advantages of web 3.0. It doesn’t matter the end-users blockchain platform; they can always track their data and evaluate the code behind the platform.
Funnily, nonprofit organizations develop some of the major blockchain platforms. So, they provide an open-source blockchain platform that allows open design and development.
The transparency of web3 makes users less dependent on the organizations that develop blockchain platforms.
#4. Open Accessibility to Data
With web3, users can access data from anywhere regardless of the device they are using. This will increase data collection and its accessibility to users globally.
And it will allow smartphones and other devices to access data on the computer when synchronized.
Additionally, web 3.0 expands the interaction scale between users and the web. That explains why we now experience a seamless payment platform and richer flow of information to trusted data transfer.
And do you know why all these are possible? It’s because web3 makes it easy for users to interact with any machine without passing through fee-charging mediators.
#5. Platforms Don’t Have Restriction
With web 3.0, platforms don’t have restrictions because blockchain is accessible to everybody. So, you can create your address or interact with the network as you please.
Furthermore, you can’t be restricted on your blockchain network because of your gender, income, geographical location, or sociological factors.
So, you can freely transfer your assets or wealth anywhere across the world without restriction. You see, that is why web3 is often described as the future of the internet.
#6. Creation of Single Profile
With web 3.0, you don’t need to create individual profiles across different platforms. All you need is to create a single profile that you can use across other platforms.
Guess what? You will have complete ownership of every piece of information you provide.
And without your permission, no individual or corporation can access your data or verify its accuracy.
Interestingly, you have the choice to share your profile and see your data with online advertisers or brands.
So, with web3, you will be paid for the time you spend online and the data you share with people.
#7. Web 3.0 Has an Enhanced Data Processing
Web 3.0 focused on problem-solving and creating intensive knowledge tasks. The latest internet technology uses artificial intelligence to sort out valuable information from large data.
You will also find its ability to forecast and carry out personalized customer service outstanding.
What are the Disadvantages of Web 3.0?
As unique and promising web 3.0 seems, some factors still limit its implementation. For instance, there may be personal data management and reputation management issues.
So, here are some of the disadvantages of web3;
#1. Requires Advanced Devices
One of the major setbacks of web3 is that it requires advanced devices. You can’t use computers with less advanced features or functionality to fully implement web 3.0
The more advanced your devices are, the more you will enjoy the feature and all the benefits of the latest internet technology.
This means that only a limited number of people can access web 3.0. It’s pretty heartbreaking, but it’s the reality.
If you don’t have the financial wherewithal to get a device with the latest AI technology and other advanced features, you can’t really benefit from web3.
#2. It will Make Web 1.0 Websites Obsolete
The greatest fear about web 3.0 is that when it becomes fully implemented on the internet, websites based on web 1.0 technology will become obsolete.
Unfortunately, web 1.0 websites can’t update their features to match web 3.0.
So, most web 1.0 websites may become outdated and subsequently lose their competitive edge in the industry.
I’m not giving up on this; I’m sure intelligent developers will come up with a possible solution that will make updating web 1.0 to web 3.0 possible.
#3. Web 3.0 is Not Ready for Widespread Adoption
As it is now, web3 technology is not ready for widespread adoption. But to avoid doubt, the technology is more innovative, more intelligent, efficient, and more accessible than other versions of the internet.
However, it’s not ready for widespread adoption yet. Perhaps, it’s because there’s still a lot of work to do.
There’s a need to work on privacy laws and data to satisfy everybody’s needs. So, the full-fledge implementation of web 3.0 may take a while.
#4. Demand for Reputation Management Will Increase
The decentralization of data and seamless access that web3 gives will come at a cost. It will make the demand for reputation management increase.
Since user information is more available and there’s less anonymity in web3 platforms, brands will need to invest heavily in reputation management. And this will help them to maintain their name, reputation, and online image.
And any company that wishes to stay ahead of its competitors must be proactive in gathering marketing intelligence, valuable business insights, compelling content, and cutting-edge internet marketing.
In a nutshell, the emergence of web 3.0 will lead to a spike in competition across all niches. So, reputation management will be more critical than ever.
#5. Complicated Functionality
Everything about web3 is so complicated. Sometimes, people may even be reluctant to use this technology because it’s difficult to understand.
Come to think of it – web3 is a blend of older-generation web features with cutting-edge technologies like AI and blockchain. It also involves the interconnection between users and increasing internet usage.
So, it will be naturally complicated to use. And it will only work perfectly in devices with advanced features and functionality. Thus, it’s out of reach for businesses or individuals that can’t afford devices with cutting-edge technologies.
In a nutshell, you can only gain from the web3 technology if you are technically sound and have the resources to acquire the necessary device to use. And this will slow down its popularity on a global scale.
Why is Web 3.0 Important for the Future?
Web3 is a creator-driven platform designed by users for users. And if you are wondering why this technology is vital for the future, here are some reasons.
#1. There Will Be Less Reliance on Centralized Repositories
Web3 will usher in an age when web users don’t rely on centralized repositories. It will make the internet a diverse source to avoid hacking, information leaks, and other cyber disasters.
Since the technology features verifiable data scarcity and tokenized digital assets, it’s possible to own your data and digital footprints.
So, no platforms will be held accountable for data usage anymore. Oh! I see you are already fantasizing about that. Don’t worry; keep reading to discover why web3 is necessary for the future.
#2. More Personalized Interactions
Web3 will give you and every other user of the internet a customized and individualized browsing experience. And we are likely to experience this aspect of web 3.0 in 2022.
#3. Better Search Assistance Powered by AI
Web3 will usher in a new age where humanized digital search assistants are far more intelligent, pervasive, and powered by AI, blockchain, and semantics.
#4. Less Dependency on Intermediaries
The implementation of web3 will make the world of business easy with little or no intermediaries.
Imagine running a business where there’s no intermediary of any sort; all you have to do is give value directly to your customers and providers in a network. This is the future web 3.0 is bringing.
#5. Enhanced Trust
Once you understand how the third generation of the internet works, you can reduce dependency on individual platforms and future-proof your business activities.
Are There Web 3.0 Applications in Real Life?
Few applications have adopted web 3.0 in their functionality; some of these applications are;
- Apple’s Siri. Siri is a voice recognition software that happens to be one of the layers of web 3.0. the software communicates, shares information, and provides helpful search results for every query.
- Wolfram Alpha. Wolfram Alpha is a computational intelligence platform that uses web3. You can use the platform to compute answers from different fields like mathematics, nutrition, science, etc. It is designed to easily connect with other applications, get information from their database, and streamline your information.
- Steemit: Have you heard of steamit? It’s a web3 social network website. It’s a decentralized reward platform, and it runs on the steem blockchain social media model.
Web 3.0 is the internet generation that gives you complete control over your data and privacy. And companies can only use your data if you permit them.