3.0 (World Wide Web) with Snatched Technologies

3.0 (World Wide Web)

Web 3.0 refers to the next generation of the internet, in which websites and applications will be able to handle data in a clever human-like manner using technologies such as machine learning (ML), Big Data, and decentralized ledger technology (DLT), among others. Web 3.0 was initially dubbed the Semantic Web by Tim Berners-Lee, the inventor of the www (world wide web), and was intended to be a more self-contained, intelligent, and open internet.

The web, often known as the world wide web, is the basic layer for how the internet, online services, and apps function. Web 3.0 is the third generation of web technology. These are some of the earlier Web 3.0 that was web 2.0 and web 1.0 versions. Earlier versions are based on HTML (HyperTextMarkupLanguage)

Blockchain and artificial intelligence are at the heart of Web 3.0. (Artificial intelligence),

What is Blockchain Technology and How Does It Work?

Blockchain is a distributed, unchangeable database that makes recording transactions and managing assets in a corporate network easier. A tangible asset (a home, vehicle, cash, or land) can be intangible (intellectual property, patents, copyrights, branding). On a blockchain network, virtually anything of value can be recorded and sold, lowering risk and cutting costs for all parties involved.

What is the purpose of Blockchain?

Businesses rely on data, and the faster and more precise data you can acquire, the better. When it comes to distributing information, blockchain is great. Orders, payments, accounts, production, and much more may all be tracked via a blockchain network. You can see all facts of a transaction end to end since members share a single view of the truth, providing you more confidence as well as additional efficiencies and possibilities.

Distributed ledger technology provides all network members with access to the distributed ledger and its immutable transaction record. Transactions are only recorded once with this shared ledger, reducing the duplication of effort that is common in traditional commercial networks.

Records that cannot be changed

After a transaction has been recorded in the shared ledger, no participant may edit or tamper with it. If a mistake is found in a transaction record, a new transaction must be made to correct the issue, and both transactions must then be accessible.

Contracts that are smart

A collection of rules called a smart contract is recorded on the blockchain and performed automatically to speed up transactions. A smart contract can specify terms for corporate bond transfers, such as payment of trip insurance, and much more.

Artificial Intelligence (AI) is being used in web 3.0.

Through technologies based on Semantic Web ideas and natural language processing, machines will be able to interpret information in the same way that people do in Web 3.0.

3.0 (World Wide Web) Characteristics

The following are some significant Web 3.0 aspects that serve to define what the third generation of the web will most likely be about:

Decentralized. Web 3.0 will be decentralized, as compared to the earlier two generations of the web, which were highly centralized in terms of governance and applications. There will be no central authority, therefore applications and services will be enabled in a dispersed manner.

Blockchain-based. The building of decentralized apps and services is made possible by blockchain. Data and connections between services are dispersed in a way that is distinct from centralized database infrastructure with blockchain. In a decentralized society, blockchain can also offer an immutable log of transactions and activities, allowing for verified authenticity.

Cryptocurrency-enabled. The use of cryptocurrency is a crucial aspect of Web 3.0 services, and it has essentially replaced fiat cash.

Artificially intelligent and autonomous. More automation in general is a key element of Web 3.0, and AI will play a big role in that automation.

3.0 (World Wide Web) The blockchain technology is used in the following applications: -NFTs. Nonfungible tokens (NFTs) are tokens that include a cryptographic hash and are kept in a blockchain, making each token unit unique.

DeFi. Decentralized finance (DeFi) is an emerging Web 3.0 use case in which a decentralized blockchain is utilized to enable financial services outside of traditional centralized banking infrastructure.

Cryptocurrency. Bitcoin and other cryptocurrencies are Web 3.0 apps that attempt to build a new world of currency that is distinct from the previous world of fiat cash.

dApp. Decentralized apps (dApps) are applications developed on top of blockchain that employ smart contracts to enable programmatic service delivery that is documented in an immutable ledger.

Cross-chain bridges are a type of bridge that connects two chains together. In the Web 3.0 environment, there exist numerous blockchains, and cross-chain bridges provide some degree of connectivity between them.

DAOs. DAOs might become the organizing bodies for Web 3.0 services, offering structure and governance in a decentralized manner.

What is the definition of Web 1.0? (1991-2004)

The internet was once viewed as a collection of static pages, sometimes known as read-only pages. It was similar to Wikipedia before Adobe Flash arrived, and the internet was more consumer-based or customer-oriented at the time.

Web 3.0 is the next version of the internet, following two previous generations.

Tim Berners-Lee conceived and described the first generation of the web in 1989, which is sometimes referred to as Web 1.0. Basic access and connectivity among static webpages were the focus of Web 1.0. The first generation of the internet lasted until around 2004 when Tim O'Reilly coined the phrase Web 2.0.