What Is Web 3.0 And Why Is It Important?
The Internet is constantly evolving and continues to innovate. So far, we have experienced Web 1.0 and 2.0 and continue to discuss Web 3.0. Web 1.0 provided a static experience for users, different from the content-rich websites we see today. Web 2.0 brought us social media and dynamic websites, but at the cost of centralization.
Web 3.0 is expected to give us control over online information and create a semantic web. This means that it will be easier for machines to read and process user-generated content. Blockchain will bring decentralization, free digital identities with cryptocurrency wallets, and open digital economies.
With 3D options, the way we interact with the network will become richer. Benefits for users when using Web3.0 include more efficient web browsing, relevant advertising and improved customer support. The most widely used Web 3.0s are virtual assistants such as Siri and Alexa and connected smart homes.
Introduce
Over twenty years, the Internet has changed dramatically. We have moved from Internet Relay Chat (IRC) to modern social media platforms. Basic digital payments have transformed into sophisticated online banking services. We have even experienced completely new Internet-based technologies such as cryptocurrency and blockchain. The Internet has become a vital part of human interaction and connection - and it continues to grow. So far, we have seen Web 1.0 and 2.0, so what is Web 3.0? Let's dive into the details with this article.
What is Web 3.0?
Web 3.0 (also known as Web3) is the next generation of Internet technology based on machine learning, artificial intelligence(AI) and blockchain technology. This term was created by Gavin Wood, founder of Polkadot and co-founder of Ethereum. While Web 2.0 focused on user-generated content hosted on centralized websites, Web 3.0 will give users more control over their online data.
This movement aims to create open, connected, intelligent websites and web applications capable of understanding data on the machine. Decentralization and the digital economy also play an important role in Web 3.0, as they allow us to place value on content created online. It is also important to understand that Web 3.0 is a changing concept. There is no single definition and the exact meaning may vary from person to person.
How does Web 3.0 work?
The aim of Web 3.0 is to deliver personalized and relevant information faster, through the use of AI and advanced machine learning techniques. Smarter search algorithms and developments in Big Data analytics mean machines can understand and recommend content intuitively. Web 3.0 will also focus on user ownership of content and support for accessible digital economies.
Current websites often display static information or user-facing content, like forums or social media. While this allows data to be made publicly available, it does not cater to the needs of specific users. A website should tailor the information it provides to each user, similar to the flexibility of human communication in the real world. With Web 2.0, once information is online, users lose ownership and control.
Another important figure who influenced the concept of Web 3.0 is computer scientist Tim Berners-Lee, inventor of the World Wide Web. As far back as 1999, Tim Berners-Lee offered his ideas about the future of the web:
I have a dream about the Web [in which computers] become capable of analyzing all the data on the Web – the content, the links, and the transactions between humans and computers. A "Semantic Web" that would make this possible is not yet here, but when it is, the everyday mechanisms of commerce, bureaucracy and our everyday lives will is handled by machine talking to machine.
From there, Berners-Lee's vision was combined with Gavin Wood's message. Here, a decentralized ocean of information is available to websites and applications. Websites will understand and use that data in a meaningful way for individual users. Blockchain acts as a solution to fairly manage identity, data, and ownership online.
A brief history of the development of the web
To better understand Web 3.0, let's look at where we are and where we've come from. Over more than two decades, we have seen enormous changes:
Web 1.0
The original experience that the Internet provided is called Web 1.0. The term was coined in 1999 by author and web designer Darci DiNucci when he distinguished between Web 1.0 and Web 2.0. In the early 1990s, websites were built using static HTML pages that could only display information. There is no other way for users to change or upload their own data. Social interaction is limited to forums and simple chat software.
Web 2.0
In the late 1990s, a more interactive Internet began to take shape. With Web 2.0, users can interact with websites through databases, server-side processing, forms, and social media. These tools have changed the web experience from static to dynamic.
Web 2.0 focuses heavily on user-generated content and interoperability between different websites and applications. Web 2.0 is less about observation and more about participation. By the mid-2000s, most websites had migrated to Web 2.0 and big tech started building social networks and cloud hosting-based services.
The Future and Web 3.0
When looking at the history of the Internet, the development of a semantically intelligent web is truly significant. The data is first presented statically to the user. Users can then dynamically interact with that data. Now algorithms are used so all that data can improve the user experience and make the web more personalized and familiar. You only have to look at YouTube or Netflix to see the power of algorithms and how they have improved.
Web 3.0, although not yet fully defined, could leverage peer-to-peer (P2P) technologies such as blockchain, open source software, virtual reality, Internet of Things (IoT), etc. The purpose of Web 3.0 is to make the Internet more open and decentralized. Under the current framework, users can rely on network and mobile network providers to access their personal data and information. With the advent of distributed ledger technology, that could soon change and users could take back ownership of their data.
For a quick look at the key differences between Web 1.0, 2.0 and 3.0, refer to our table below:
Main features of Web 3.0
There is still a long way to go for Web 3.0 to be fully adopted, but most of its core concepts have been defined. The four topics below are often considered the most important aspects of the future Web 3.0.
Semantic markup
Over time, machines have improved their ability to understand data and content that humans create. However, there is still a long way to go to create a seamless experience where semantics are fully understood. For example, the word "bad" can, in some cases, mean "good". Understanding this with machines is extremely difficult. However, with Big Data and more information to study, AI is starting to better understand what we write on the web and present it visually.
Blockchain and cryptocurrency
Data ownership, the online economy and decentralization are essential aspects of the Web3 future for Gavin-Wood. We will cover this topic in more detail later, but it is safe to say that blockchain provides a tried and tested system for achieving many of these goals. The power for anyone to tokenize assets, put information on-chain, and create digital identities is a huge innovation underpinned by Web 3.0.
3D visualization and interactive presentation
Simply put, the look and feel of the web will change a lot. We have seen a shift to 3D environments, even incorporating virtual reality. The Metaverse is a pioneer in these experiences, and we're already familiar with socializing through 3D video games. The fields of UI and UX also aim to present information in more intuitive ways to web users.
Artificial Intelligence (AI)
Artificial intelligence is the key to turning human-generated content into machine-readable data. We're used to using AI in customer service programs, but this is just the beginning. AI can present and organize data for us, making it a versatile tool for Web 3.0. Best of all, AI will learn and improve on its own, reducing the work needed for future human development.
What makes Web 3.0 superior to its predecessors?
In theory, the combination of key Web 3.0 features should lead to many benefits. Don't forget that all of this will depend on the success of the underlying technology:
1. No central control - Since the middleman will be removed from the equation, they will no longer control user data. This freedom reduces the risk of censorship by governments or corporations 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 information to analyze. This can help them provide more accurate information that meets the specific needs of users.
3. Browse the web more effectively - When using search engines, finding the best results is sometimes difficult. However, over the years these tools have gotten better at finding semantically relevant results based on search context and metadata. This results in a more convenient browsing experience and can make it easier for people to find the exact information they need.
4. Improve advertising and marketing - No one likes to be bombarded with online ads. However, if ads are relevant to your needs, they can be helpful rather than annoying. Web 3.0 can improve advertising by leveraging smarter AI systems and targeting specific audiences based on consumer data.
5. Better customer support - Customer service is a very important area to increase user experience for websites and web applications. However, due to high costs, many web services have had difficulty expanding the scale of their customer service operations. Smarter chatbots can talk to multiple customers simultaneously, and users can enjoy a superior experience compared to talking to support agents.
How will cryptocurrencies support Web 3.0?
When it comes to Web 3.0, Blockchain and cryptocurrencies have the potential to play a huge role. Decentralized networks create incentives for more responsible data ownership, governance, and content creation. Some of its most relevant aspects for Web 3.0 include:
1. Digital Cryptocurrency Wallet - Anyone can create a wallet that allows you to make transactions and act as a digital identity. There's no need to store your details or create an account with a centralized service provider. You have full control over your wallet, and often one wallet can be used for many different blockchains.
2. Decentralization - With blockchain, it is quite simple to spread information and power transparently across a wide set of people. This is in contrast to Web 2.0, where large technology giants dominate large areas of our "online" lives.
3. Digital Economy - The ability to own data on the blockchain and use decentralized transactions creates a new digital economy. These allow us to easily price and trade goods, services and content online without the need for banking or personal details. This openness improves access to financial services and allows users to start earning.
4. Interoperability - DApps and on-chain data are becoming more and more interoperable. Blockchains built with Virtual Machines can easily support DApps, wallets, and each other's tokens. This helps improve the ubiquity needed for connected Web 3.0 experiences.
Web 3.0 Use Cases
Although Web 3.0 is still being developed, we have some examples already in use today:
Virtual assistant Siri & Alexa
Both Apple's Siri and Amazon's Alexa offer virtual assistants that are very similar to Web 3.0 concepts. AI 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 suggestions and interactions. This makes it a perfect example of a semantically intelligent web application in the Web 3.0 world.
Smart homes are connected
An important feature of Web 3.0 is its ubiquity. This means we can access our data and online services across multiple devices. Now the systems that control your home's heating, air conditioning and other utilities can do so in a smart and connected way. Your smart home can tell when you leave, arrive, and how hot or cold you like your home. It can use this information, and more, to create personalized experiences. You can then access this service from your phone or other online devices, no matter where you are.
summary
The development of the Internet has been a long journey and will certainly continue towards further developments. With the explosion of available data, websites and applications are shifting towards richer web experiences. Although there is still no specific definition for Web 3.0, innovations are already being introduced. We can see a clear direction going forward, and blockchain seems to be an important part of the future Web 3.0.
Source: Academy.binance
