Summary
Internet technology has been constantly developing and innovating. So far, we have experienced Web 1.0 and 2.0, and have had heated discussions around the prospects of Web 3.0. Web 1.0 provided users with a static experience, but it was not possible to create content-rich websites like today. Web 2.0 brought us together with social media and dynamic websites, but at the cost of centralized management.
Web 3.0 seeks to give us control over online information and create a semantic web. This means that machines will easily read and process user-generated content. Blockchain will underpin decentralization, provide free digital identities with cryptocurrency wallets, and lead to an open digital economy.
Available 3D solutions will provide us with a more immersive way to interact with the web. Users will also be able to browse more efficiently, insert relevant ads, and improve customer support. Some of the most used Web 3.0 technologies also come with virtual assistants such as Siri and Alexa, as well as connected smart homes.
Introduction
The Internet has changed dramatically over the past two decades. We have evolved from Internet Relay Chat (IRC) to modern social media platforms. From basic digital payments to sophisticated online banking services. We have even experienced brand new Internet-based technologies such as cryptocurrency and blockchain. The Internet has become an essential part of human interaction and connection and will continue to evolve. So far, we have seen Web 1.0 and 2.0, what surprises will Web 3.0 bring us? Let's dive into the details and see what features Web 3.0 has.
What is Web 3.0?
Web 3.0 (also known as Web3) is the next generation of Internet technology that relies heavily on machine learning, artificial intelligence (AI) and blockchain technology. This term was first proposed by Gavin Wood, the founder of Polkadot and co-founder of Ethereum. Web 2.0 focuses on hosting user-generated content on decentralized websites, while Web 3.0 enables users to better control their online data.
This feature is designed to create open, connected, intelligent websites and web applications, and improve machine-based data understanding. Decentralization and digital economy also play an important role in Web 3.0, allowing us to assign value to content created on the network. We should also understand that Web 3.0 is an evolving concept. The definition of it is a matter of opinion.
How does Web 3.0 work?
Web 3.0 aims to provide personalized and user-relevant information faster through the use of artificial intelligence and advanced machine learning techniques. The development of smarter search algorithms and big data analysis means that machines can intuitively understand and recommend content. Web 3.0 will also focus on user ownership of content and support for an accessible digital economy.
Current websites usually display static information or user-driven content, such as forums or social media. Although users can obtain data, it does not meet the needs of specific users. Websites should provide tailored information to each user, just like interpersonal communication in the real world. In Web 2.0, once this information is online, users will lose ownership and control.
Another key figure in the Web 3.0 concept is computer scientist Tim Berners-Lee, inventor of the World Wide Web. In 1999, he proposed his vision for the web:
I have a dream for the Internet: I want [computers] to be able to analyze all the data on the Internet, including content, links, and transactions between people and computers. The "semantic web" that can facilitate this dream has not yet emerged, but when it emerges, the daily mechanisms of trade, red tape, and our daily lives will be solved by communication between machines.
That’s when Berners-Lee began to incorporate Gavin Wood’s ideas. Websites and applications can use a large amount of decentralized information. They will make sense of this data and apply it meaningfully to individual users. Blockchain serves as a solution to manage this online identity, data, and ownership in a fair way.
A brief history of the Internet
To better understand Web 3.0, let’s take a look at its development history and current status. Over the past two decades, we have experienced tremendous changes:
Web 1.0
We call the experience provided by the original web Web 1.0. The term was coined by writer and web designer Darci DiNucci in 1999 to differentiate between Web 1.0 and Web 2.0. In the early 1990s, websites were built with static HTML pages that only displayed information. Users could not change data or upload their own. Social interactions were limited to simple chat programs and forums.
Web 2.0
In the late 1990s, the shift toward a more interactive web began. With Web 2.0, users were able to interact with websites through databases, server-side processing, forms, and social media. These tools transformed the web experience from static to dynamic.
Web 2.0 places more emphasis on user-generated content and interoperability between different sites and applications. In the Web 2.0 era, users are expected to participate, not just observe. By the middle of the 21st century, most websites had transformed into Web 2.0, and large technology companies began to create social networks and cloud-based services.
Web 3.0 and the Future
Looking back at the history of the Internet, the evolution of the semantically intelligent web makes sense. In the beginning, data was presented to users in a static way. Later, users could interact with that data dynamically. Now, algorithms use all that data to improve the user experience and make the web more personal and familiar. Just browse YouTube or Netflix to see the power of algorithms and how they improve things.
Although Web 3.0 has not yet been fully defined, it can make use of peer-to-peer (P2P) technologies such as blockchain, open source software, virtual reality, and the Internet of Things (IoT). Web 3.0 also aims to make the Internet more open and decentralized. In the current framework, users rely on network and cellular providers to use personal data and information. With the advent of distributed ledger technology, this situation will soon change and users can take back the ownership of their personal data.
To understand the key differences between Web 1.0, 2.0 and 3.0, refer to the table below:
Web 3.0 Key Features
Web 3.0 is still far from being fully adopted, but its core concepts are largely clear. The following four topics are often listed as the most important aspects of the future of Web 3.0.
Semantic markup
Machines are gradually getting better at understanding data and content created by humans. However, we are still a long way from creating a seamless experience that fully understands semantics. For example, in some cases, the word "bad" may mean "good". For a machine to understand this can be very difficult. However, as people study big data and more information, artificial intelligence is starting to get better at understanding what we write on the web and presenting it intuitively.
Blockchain and Cryptocurrency
Data ownership, online economies, and decentralization are important aspects of Gavin-Wood's Web3 contract. We will explore this topic in detail later, but blockchain provides a proven system to achieve many of these goals. Anyone can convert assets into tokens, store information on-chain, and create a digital identity, which is a major innovation applicable to Web 3.0.
3D visualization and interactive presentation
In short, the look and feel of the web will change dramatically. We are already seeing the move toward 3D environments including virtual reality. The Metaverse is pioneering these types of experiences, and we are already familiar with socializing through 3D video games. The UI and UX fields are also working on presenting information in a more intuitive way for web users.
AI
Artificial intelligence is the key to transforming human-generated content into machine-readable data. We are already familiar with customer service bots, but this is just the beginning. AI can both present data to us and sort it, making it a versatile tool for Web 3.0. Most importantly, AI will learn and improve on its own, reducing the work required for human development in the future.
In what ways is Web 3.0 superior to its predecessor?
In theory, the combination of key Web 3.0 features will bring many benefits. Don’t forget that these will all depend on the success of the underlying technology:
1. No central control point - Intermediaries have been removed from the complex and will no longer control user data. This freedom reduces the risk of government or corporate censorship and reduces the effectiveness of Denial of Service (DoS) attacks.
2. Increased information connectivity - As more products are connected to the internet, larger data sets provide algorithms with more data to analyze, helping to provide more accurate information that meets the specific needs of individual users.
3. More efficient browsing - When using search engines, it can sometimes be difficult to find the best results. But over the years, search engines have made great strides in finding semantically relevant results based on context and metadata. This makes the web browsing experience more convenient, helping anyone easily find the exact information they need.
4. Improved Advertising and Marketing - No one likes being bombarded with online ads. However, if these ads are relevant to your needs, perhaps they will be less annoying and even helpful. Web 3.0 aims to utilize smarter artificial intelligence systems and conduct advertising targeting specific audiences based on consumer data.
5. Better customer support - Customer service is essential to providing a smooth user experience for websites and web applications. However, many successful web services struggle to scale customer service operations due to high costs. With intelligent chatbots that can talk to multiple customers at the same time, users can enjoy a superior experience when dealing with support agents.
How do cryptocurrencies fit into Web 3.0?
Blockchain and cryptocurrency have great potential for Web 3.0. Decentralized networks successfully provide incentives for more responsible data ownership, governance, and content creation. Aspects that are highly relevant to Web 3.0 include:
1. Digital cryptocurrency wallets - Anyone can create a wallet that can be used for transactions and acts as a digital identity. There is no need to store your details or use a centralized service provider to create an account. You have full control over your wallet, and the same wallet can often be used across multiple blockchains.
2. Decentralization - Through blockchain, information and power can be transparently transferred among a large group of people. This is in stark contrast to Web 2.0, where large technology giants dominate significant areas of our online lives.
3. Digital Economy - With people being able to own data on the blockchain and use decentralized exchanges, a new digital economy has emerged. These allow us to easily value and trade online goods, services and content without the need for bank or personal details. This openness helps to make financial services more accessible to more people and helps users start making money.
4. Interoperability - On-chain DApps and data are becoming more and more compatible. Blockchains built with Ethereum Virtual Machine can easily support each other's DApps, wallets, and tokens. This helps to increase the universality required for the interconnected Web 3.0 experience.
DeFi 3.0 Use Cases
Although Web 3.0 is still under development, we can cite some ready-made examples:
Siri and Alexa virtual assistants
Apple’s Siri and Amazon’s Alexa both offer virtual assistants that check many of the Web 3.0 boxes. Artificial intelligence and natural language processing help both services better understand human voice commands. The more people use Siri and Alexa, the more their AI improves its recommendations and interactions. This makes them perfect examples of semantically intelligent web applications for the Web 3.0 world.
Connected Smart Home
Being “everywhere” is a key feature of Web 3.0. This means that we can use our data and online services across multiple devices. Today, systems can control heating, air conditioning and other utilities in your home in an intelligent and connected way. A smart home can tell when you are away, when you are home, and what room temperature you prefer. It can use this information to create a personalized experience. You can access the service from your phone or other online device wherever you are.
Summarize
The development of the Internet is a long process that will continue to evolve. With the explosive growth of available data, websites and applications are moving towards a more immersive web experience. Although Web 3.0 has not yet been specifically defined, it has taken innovative steps and the future direction of development is obvious, and blockchain is bound to become a key part of the future of Web 3.0.
