What Is Web 3.0 and Why Does It Matter?

371
Web3 Explained
Listen this article

There’s no way you haven’t heard about “Web3” if you work in the technology industry. It, along with “Metaverse,” is the most popular buzzword right now.

When individuals talk about Web 3.0 or Web3, they’re referring to a version of the internet that’s decentralized, free, and, most crucially, free of Big Tech’s grip.

Fun fact: In 2021, Technology was responsible for 57 percent of all internet traffic (Google, Netflix, Facebook, Apple, Amazon, and Microsoft).

That’s not all,  Web3 has a longer history.

If you’ve ever wondered what all the fuss is about, you’ve come to the perfect spot. In this post, we’ll deconstruct the Web3 notion. So, let’s get started.

Evolution Of Web3.0

The Internet is an ever- evolving technology that’s continually instituting. We’ve seen Web 1.0 and 2.0 so far, and there’s a lot of speculation about what Web 3.0 will bring. People had a static experience with Web 1.0 because they didn’t get the chance to develop the content-rich sites that we have now. With social sites and web services, Web 2.0 helped us a lot together, but at the cost of centralization.

Web 3.0 aims to give us more control over our online data while also establishing a semantic web. Machines will be able to read and process user-generated content with ease. Decentralization, free digital identities with crypto wallets, and an open digital economy will all be possible thanks to blockchain.

With three-dimensional alternatives accessible, the ways we connect with the internet will be more immersive. The user will also benefit from faster browsing, more appropriate advertising, and better customer service. Virtual assistants like Siri and Alexa, as well as connected smart homes, are examples of Web 3.0 technology in use.

Brief History Of The Web 3.0

The Internet has evolved considerably during the last two decades. From Internet Relay Chat (IRC) to modern social media platforms which is wonderful and interactive, we’ve come a long way. From introductory digital payments to sophisticated online banking services, there is commodity for everyone. We’ve even had real-life experience with brand-new Internet-based technologies such as cryptocurrency and blockchain. The Internet has revolutionized the world and evolved into an important aspect of human relationships and connectivity. We have seen and lived in Web 1.0 and 2.0 so far, but lets see what can we expect from Web 3.0?

What Impact Will Web 3.0 Have on Our Lives?

You can easily ask your automotive helper a question while traveling in Web 3.0. The driving assistant’s built-in search engine gives you a customized response specific location, suggesting the nearby cinema that fits your request.

This Web 3.0 concept is not a pipe fantasy… Due to big data technology, most of it is already a reality today (for example, the semantic web and artificial intelligence). Expert.ai uses semantic analysis and natural language processing (NLP) and other machine learning process to solve problems. AI technology aids in deciphering meaning and extracting insight from unstructured data and web content.

What exactly is Web 3.0?

Web 3.0 (also known as Web3) is the next generation of Internet technology that largely relies on machine learning, AI, and blockchain technology. Gavin Wood, the founder of Polkadot and a co-founder of Ethereum, coined the word. Web 3.0 will provide people more control over their online data, whereas Web 2.0 focuses on user-created content hosted on centralized websites.

The goal of the movement is to produce open, connected, and intelligent websites and online apps that have better machine-based data understanding. Web 3.0 also includes decentralization and digital economies, which allow us to assign a monetary value to the material created on the internet. It’s also crucial to recognize that Web 3.0 is a fluid idea. There is no single definition, and it might signify different things to different people.

What is Web 3.0 and how does it work?

Web 3.0 seeks to employ AI and advanced machine learning techniques to give customised and relevant content more quickly. Machines will be able to intuitively analyse and recommend content thanks to improved search algorithms and advancements in Big Data analytics. Web 3.0 will also emphasise content ownership by users and support for open digital economies.

Static information or user-generated content, such as forums or social media, is often displayed on current websites. While this permits data to be shared widely, it does not address the needs of unique users. Similar to the dynamism of real-world human communication, a website should personalize the information it gives to each user. Users lose ownership and control of information once it is posted publicly via Web 2.0.

Tim Berners-Lee, the inventor of the World Wide Web, is another significant person in the Web 3.0 concept. In 1999, he presented his vision of the web’s future:

I envision a vision for the Web in which computers are capable of evaluating all data on the Web, including content, linkages, and human-computer exchanges. The “Semantic Web,” which enables this, has yet to materialize, but once it does, machines talking to machines will handle the day-to-day procedures of trade, bureaucracy, and our daily existence.

Since then, Berners-vision Lee’s has merged with Gavin Wood’s message. Websites and applications will have access to a vast amount of decentralized data. They’ll be able to comprehend and apply that information to specific users. The blockchain serves as a solution for fairly managing online identity, data, and ownership.

A brief overview of the evolution of the web

Let’s take a look at where we are today and where we’ve come from to better grasp Web 3.0. We’ve already seen huge developments in the last two decades:

Web 1.0

Web 1.0 was the experience provided by the first Internet. Darci DiNucci, an author and web designer, invented the word in 1999 to distinguish between Web 1.0 and Web 2.0. Websites were created in the early 1990s utilizing static HTML pages that could simply show information. Users had no way of altering the data or uploading their own. Simple chat messengers and forums were the only means of social connection.

Web 2.0

In the late 1990s, a trend toward a more interactive Internet began to emerge. Users could engage with websites through databases, server-side processing, forms, and social media with Web 2.0. These tools transformed the static web experience into a dynamic one.

User-generated content and interoperability between different sites and applications have become more important as a result of Web 2.0. Web 2.0 was more about involvement than it was about observation. Most websites had moved to Web 2.0 by the mid-2000s, and major companies began to establish social networks and cloud-based services.

Web 3.0

When you consider the history of the Internet, the evolution of a semantically intelligent web makes sense. Users presentation of data were in a static format. The data might then be dynamically interacted with by the users assigned for that. All of this data will now be used by algorithms to improve the user experience and make the web more personalised and familiar. You only have to look at YouTube or Netflix to understand how powerful algorithms are and how far they’ve progressed.

While Web 3.0 is still being defined, it can make use of peer-to-peer (P2P) technologies such as blockchain, open-source software, virtual reality, the Internet of Things (IoT), and others. Web 3.0 likewise aspires to free up and decentralize the Internet world. Users rely on network and cellular carriers to access their personal data and information in the existing system. This may change in the near future, with the arrival of distributed ledger technology, allowing customers to recover control of their data.

Web 3.0’s Main Features

Although Web 3.0 is still in its early stages of adoption, its essential concepts are largely defined. The four topics listed below are frequently cited as the most crucial parts of Web 3.0’s future.

Semantic markup

Machines have gotten better at interpreting the data and information that humans create over time. However, there is still a long way to go in terms of creating a seamless experience that fully understands semantics. For example, the term “bad” can be used to mean “good” in some instances. It can be extremely difficult for a machine to comprehend this. With more data to analyze and Big Data, AI is learning to grasp and present what humans write on the web more intuitively.

Blockchain and cryptocurrencies

Web3’s future includes data ownership, online economies, and decentralization, according to Gavin-Wood. We’ll get into more depth about blockchain later, but it’s a tried-and-true solution for achieving many of these objectives. The ability for anyone to tokenize assets, put data on chain, and create a digital identity is a tremendous advancement that fits well with Web 3.0.

3D visualization and interaction presentation

Simply said, the appearance of the internet will drastically change. We’re already seeing a shift toward 3D settings, with virtual reality thrown in for good measure. One area where these experiences are being pioneered is the metaverse, and we’re already accustomed to socializing through 3D video games. The domains of UI and UX also aim to deliver information to web users in more intuitive ways.

Artificial intelligence

The key to converting human-created material into machine-readable data is artificial intelligence. Customer care bots are now commonplace, but this is only the beginning. AI is a versatile tool for Web 3.0 since it can both present and sort data to us. Best of all, AI will learn and improve through time, lowering the amount of work required for future human progress.

What makes Web 3.0 superior to its predecessors?

In principle, the combination of Web 3.0’s major qualities will result in a variety of benefits. Remember that everything hinges on the success of the underlying technology:

There is no single point of control

Because intermediaries are no longer involved, they will no longer have influence over user data. This liberty minimizes the likelihood of censorship by governments or companies, as well as the efficiency of DoS attacks.

Increased information interconnectivity

Larger data sets supply algorithms with more information to evaluate as more products become connected to the Internet. This will enable them to provide more accurate information that is tailored to the needs of each individual user.

Efficient Browsing

Finding the greatest results when utilising search engines might be difficult at times. Over time, they have improved their ability to discover semantically relevant results based on search context and metadata. As a result, web browsing becomes more convenient, allowing everyone to quickly discover the information they require.

Improved marketing and advertising

Nobody enjoys being bombarded with online advertisements. However, if the advertisements are appropriate to your requirements, they may be beneficial rather than annoying. By employing sharper AI algorithms and targeting specialized audiences based on consumer data, Web 3.0 intends to improve advertising.

Improved customer service

For a pleasant user experience on websites and web applications, customer service is essential. However, many successful web firms struggle to scale their customer support operations due to the high expenses. Users can have a better experience talking with support personnel if they employ more sophisticated chatbots that can talk to several clients at the same time.

Use cases for Web 3.0

Although Web 3.0 is still in its early stages of development, the following examples are presented in use:

Siri & Alexa virtual assistants

Many of the Web 3.0 criteria are checked by Apple’s Siri and Amazon’s Alexa virtual assistants. Both services benefit from AI and natural language processing to better interpret human voice requests. The more people who use Siri and Alexa, the better the AI gets at making recommendations and interacting with them. As a result, it’s a great example of a semantically intelligent online app that belongs to Web 3.0.

Smart homes

The ubiquity of Web 3.0 is an important aspect. This implies we can use numerous devices to access our data and online services. Smart and linked systems that handle your home’s heating, air conditioning, and other utilities are now available. Your smart home can detect when you leave and return, as well as how hot or cool you prefer your home to be. This information, as well as others, can be used to provide a tailored experience. You can then use your phone or other web devices to access this service no matter where you are.

Closing thoughts

The evolution of the Internet has been a long one, and it will undoubtedly continue to evolve in the future. Websites and applications are shifting to a more immersive web experience as a result of the tremendous growth of available data. Despite the lack of a clear definition for Web 3.0, the innovations are already underway. It’s clear where we’re going, and blockchain, of course, appears to be a big part of Web 3.0’s future.

Leave a Reply

Your email address will not be published.

3 thoughts on “What Is Web 3.0 and Why Does It Matter?