What is Web 3.0?
Web 3.0 –the decentralized internet of the future
Web 3.0 doesn’t require “permission,” which means that central authorities don’t get to decide who gets to access what services, nor does it require “trust,” meaning that an intermediary isn’t necessary for virtual transactions to occur between two or more parties. Because these agencies and intermediaries are doing most of the data collection, Web 3.0 technically protects user privacy better.
Decentralized finance, often known as DeFi, is a component of Web 3.0 that’s gaining steam. It entails executing real-world financial transactions on the blockchain without the help of banks or the government. Meanwhile, many major corporations and venture capital firms are pouring money into Web 3.0, and it isn’t easy to conceive that their engagement won’t result in some form of centralized power.
The evolution of the web
The World Wide Web is the major tool used by billions of people to exchange, read and write information and communicate with others over the internet. The web has changed dramatically over the years, and its current applications are nearly unrecognizable from its early days. The web’s evolution is frequently divided into three stages: Web 1.0, Web 2.0 and Web 3.0.
What is Web 1.0?
The earliest version of the internet was known as Web 1.0. Consider Web 1.0 to be the read-only or Syntactic web. Most of the participants were content consumers, while the makers were largely web developers who built websites with material delivered primarily in text or graphic format. Web 1.0 existed roughly from 1991 to 2004.
Sites delivered static material rather than dynamic, hypertext mark-up language (HTML) in Web 1.0. Data and content were supplied from a static file system rather than a database, and there was little interaction on the web pages.
What is Web 2.0?
Most of us have only seen the web in its current version, often known as Web 2.0, which is also known as the interactive read-write and social web. You don’t have to be a developer to participate in the creation process in the Web 2.0 universe. Many apps are designed in such a way that anyone may become a creator.
You can create thought and share it with the rest of the world. You can also post a video and make it available to millions of others to watch, interact with and comment on in Web 2.0. Youtube, Facebook, Flickr, Instagram, Twitter and other social media are only a few examples of Web 2.0 applications.
What is Web 3.0?
Web 3.0, also known as Semantic Web or read-write-execute, is the era (from 2010 onwards) that alludes to the web’s future. Artificial Intelligence (AI) and Machine Learning (ML) enable computers to analyze data in the same way that humans do, which aids in the intelligent generation and distribution of valuable content according to a user’s specific needs.
There are a few key distinctions between Web 2.0 and Web 3.0, but decentralization is at the heart of both. Web 3.0 developers rarely create and deploy apps that run on a single server or store data in a single database (usually hosted on and managed by a single cloud provider).
Instead, Web 3.0 apps are built on blockchains, decentralized networks of numerous peer-to-peer nodes (servers), or a hybrid of the two. These programs are known as decentralized apps (DApps), and you’ll hear that term a lot in the Web 3.0 community. Network participants (developers) are rewarded for delivering the highest quality services to establish a stable and secure decentralized network.