Why Web3 will change the internet for the better?
Imagine a version of the internet optimized specifically for you. An internet that responds carefully to your queries and interacts with you at an interpersonal level and the same internet that understands everything that you say, whether through text, speech, or other media, and in which the material you consume is more tailored to you than ever before.
We have reached that point of a crucial stage in the evolution of the web. Some early adopters refer to it as Web 3.0.
There have been a few initial Web 3.0 apps that exist now, but their real potential cannot be seen until the new internet is completely incorporated in the web infrastructure.
So what exactly is Web 3.0, how will it appear, and how will it affect our lives?
Tim Berners-Lee, the creator of the World Wide Web, termed Web 3.0 as the Semantic Web, with the goal of creating a more independent, sophisticated, and open internet owned by everyone.
The description of Web 3.0 may be broadened as follows: data would be networked in a decentralized manner, which would be a significant improvement over our modern internet (Web 2.0), as information is largely held in centralized repositories.
People and devices will also be able to engage with data. However, in order for this to happen, programmes must comprehend information theoretically as well as contextually. With this in mind, the semantic web and artificial intelligence are the two pillars of Web 3.0.
Web 3.0, Cryptocurrency and Blockchain:
We may expect a strong convergence and symbiotic interaction between these three technologies and other disciplines since Web 3.0 networks will run through decentralized protocols — the building blocks of blockchain and cryptocurrency technology. They will be interoperable, easily integrated, automated by smart contracts, and used to power anything from micro transactions in Africa to censorship-resistant P2P data file storage and sharing through applications like Filecoin, to entirely transforming how businesses conduct and function. The present flurry of DeFi protocols is only the beginning.
Web3 decentralizes ownership and control. Tokens, both non-fungible (NFTs) and fungible, allow users and builders to own parts of internet services.
Tokens grant users property rights, allowing them to claim ownership of a piece of the internet.
NFTs allow users to own assets such as artwork, images, code, music, language, gaming objects and anything else they can think of.
NFTs are based on blockchains such as Ethereum. Ethereum is a user-controlled and maintained decentralized global computer.
Blockchains delivers unique identification for every data that everybody can use but no one can own.
Web 1.0 — Where it all started
Despite only providing access to restricted content and little to no user involvement, Web 1.0, also known as the Static Web, was the earliest and most dependable internet in the 1990s. Creating user pages or simply commenting on articles wasn’t a thing back then.
Because there were no algorithms to sift through internet sites in Web 1.0, it was incredibly difficult for consumers to obtain useful information. Simply described, it performed one way communication with a limited pathway where content was created by a small group of people and information was largely gathered through directories.
Web 2.0 — Where we are now
Because data can now be transferred and shared across several platforms and apps, social networking sites and consumer content production have flourished.
A number of online inventors, including the aforementioned Jeffrey Zeldman, pioneered the set of technologies used in this internet era.
Web 3.0 — Where we are headed
Web 3.0 is the next step in the evolution of the internet, allowing it to perceive information with near-human intelligence through the deployment of AI systems that can run clever programmes to help users.
The Semantic Web, according to Tim Berners-Lee, is designed to “automatically” interact with systems, people, and home gadgets. As a result, both people and robots will be involved in content development and decision-making. This would allow for the intelligent generation and dissemination of highly personalised content to every internet user.
Web 3.0 is unique because it’s self-learning and making the internet available to anybody, everywhere, at all times. Because IoT (Internet of Things) technology will eventually bring out a variety of new sorts of smart gadgets, internet-connected devices would no longer be centred on PCs and smartphones as they were in Web 2.0.
While their syntax may change, their semantics are nearly the same, because semantics simply deal with the content’s meaning or emotion.
Machines would be able to interpret language and sentiments by analysing data if semantics were applied to the Web. As a result of the improved data connectivity, users will get a better experience.
Despite the fact that Web 2.0 has comparable capabilities, it is still mostly human-based, which allows for corrupt behaviours such as biased product evaluations, manipulated ratings, and so on.
For example, internet review services such as Trustpilot allow customers to leave feedback on any product or service. Unfortunately, a business may easily hire a huge group of individuals to write great evaluations for its meritorious items. As a result, in order to deliver accurate data, the internet needs AI to learn how to separate the real from the fraudulent.
Following the Gamespot trading incident, Google’s AI system erased roughly 100000 negative ratings of the Robinhood app from the Play Store after it spotted efforts at rating manipulation meant to intentionally downvote the app. This is AI in action, which will soon be integrated into Web3, allowing blogs and other online platforms to sift through data and personalize it to the preferences of individual users. AI will eventually be able to present people with the best filtered and impartial info available as technology improves.
Web 3.0 Applications:
The capacity to digest enormous amounts of data and transform it into real knowledge and meaningful operations for users is a frequent necessity for a Web 3.0 application. With that said, these apps are still in their early phases, which means they have a lot of opportunity for development and are a far way from how Web 3.0 apps may work.
Amazon, Apple, and Google are among the corporations that are developing or existing goods that are being transformed into Internet 3.0 apps. Siri and Wolfram Alpha are two applications that make use of Web 3.0 features.
The new internet will offer a more personalized and tailored surfing experience, as well as a better and more human-like search helper and other decentralized benefits, all of which are supposed to contribute to a more egalitarian web. This will be accomplished by allowing each individual user to take control of their data and enhancing the overall experience through a variety of innovations that will be implemented once it is in place.
The internet will be considerably more intertwined in our daily lives when Web 3.0 arrives, which is difficult to imagine given how smart gadgets have already impacted our behavioral patterns.
Almost all of today’s normally offline machines, ranging from home appliances like ovens, vacuums, and refrigerators to all modes of transportation, will become part of the IoT economy, interacting decentralized applications (DApps), advancing new digital realms like blockchain and digital assets to power a slew of new tech “miracles” for the twenty-first century.
Prior to web3, consumers and developers had to pick between web1’s restricted capabilities and web 2’s corporate, centralized architecture.
Web 3.0 proposes a new approach that combines the greatest features of earlier periods. This movement is still in its early stages, so now is a fantastic moment to become involved.