All you should know about Web 3.0

Web 3.0 is the upcoming third generation of the internet where websites and apps will be able to process information in a smart human like way through technologies like machine learning (ML), Big Data, decentralized ledger technology (DLT), etc. Web 3.0 was originally called the Semantic Web by World Wide Web (WWW) inventor Tim Berners-Lee, and was aimed at being a more autonomous, intelligent, and open internet.

In Web 3.0 data will be interconnected in a?decentralised way, which would be a huge leap forward to our current generation of the internet (Web 2.0) where data is mostly stored in centralised ?repositories.

Furthermore, users and machines will be able to interact with data. But for this to happen, programs need to understand information both conceptually and contextually. With this in mind, the two cornerstones of Web 3.0 are semantic web and artificial intelligence (AI).

Web 3.0, Cryptocurrency and Blockchain

As Web 3.0 networks will operate through decentralized protocols, the founding blocks of blockchain and?cryptocurrency technology, a strong convergence and symbiotic relationship can be seen between these three technologies and other fields.

They will be interoperable, seamlessly integrated, automated through smart contracts and used to power anything from micro transactions in Africa, censorship-resistant P2P ?data file storage and sharing with applications like?Filecoin , to completely changing every company conduct and operate their business. The current slew of?DeFi Protocols?are just the tip of the iceberg.

Web 3.0 Technologies

Web 3.0 will be born out of a natural evolution of older-generation web tools combined with cutting-edge technologies like AI and?blockchain , as well the interconnection between users and increasing internet usage. Apparently, Internet 3.0 is an upgrade to its precursors: web 1.0 and 2.0.

Web 1.0 (1989-2005)

Web 1.0, also called the Static Web, was the first and most reliable internet in the 1990s despite only offering access to limited information with little to no user interaction. Back in the day, creating user pages or even commenting on articles weren’t a thing.

Web 1.0 didn't have algorithms to sift internet pages, which made it extremely hard for users to find relevant information. Simply put, it was like a one-way highway with a narrow footpath where content creation was done by a select few and information came mostly from directories.

Web 2.0 (2005-present)

The Social Web, or Web 2.0, made the internet a lot more interactive thanks to advancements in web technologies like Javascript, HTML5, CSS3, etc., which enabled startups to build interactive web platforms such as YouTube, Facebook, Wikipedia and many more.

This paved the way for both social networks and user-generated content production to flourish since data can now be distributed and shared between various platforms and applications.

Web 3.0 (yet to come)

Web 3.0 is the next stage of the web evolution that would make the internet more intelligent or process information with near-human-like intelligence through the power of AI systems that could run smart programs to assist users.

The Semantic Web is meant to "automatically" interface with systems, people and home devices. As such, content creation and decision-making processes will involve both humans and machines. This would enable the intelligent creation and distribution of highly-tailored content straight to every internet consumer.

Key Features of Web 3.0

To really understand the next stage of the internet, we need to take a look at the four key features of Web 3.0:

• Ubiquity
• Semantic Web
• Artificial Intelligence
• 3D Graphics

Ubiquity:

Ubiquity means being or having the capacity to be everywhere, especially at the same time. In other words, omnipresent. In that sense, Web 2.0 is already ubiquitous since, for instance, a Facebook user can instantly capture an image and share it, which then becomes ubiquitous since it's available to anyone no matter where they are, as long as they have access to the social media platform.

Web 3.0 simply takes this a step further by making the internet accessible to everyone anywhere, at any time. At some point, internet-connected devices will no longer be concentrated on computers and smartphones like in Web 2.0 since IoT (Internet of Things) technology will bring forth a plethora of?new types of smart devices.

Semantic Web:

Semantic(s) is the study of the relationship between words. Therefore, the Semantic Web, according to Berners-Lee, enables computers to analyze loads of data from the Web, which includes content, transactions and links between persons. In practice, how would this look? Let’s take these two sentences, for instance:

1. I love Bitcoin
2. I <3 Bitcoin

Their syntax may be different, but their semantics are pretty much the same, since semantics only deals with the meaning or emotion of the content.

Applying semantics in the Web would enable machines to decode meaning and emotions by analyzing data. Consequently, internet users will have a better experience driven by enhanced data connectivity.

Artificial Intelligence:

Wikipedia defines AI as intelligence demonstrated by machines.

And since Web 3.0 machines can read and decipher the meaning and emotions conveyed by a set of data, it brings forth intelligent machines. Although Web 2.0 presents similar capabilities, it is still predominantly human-based, which opens up room for corrupt behaviors such as biased product reviews, rigged ratings, etc.

For instance, online review platforms like Trustpilot provide a way for consumers to review any product or service. Unfortunately, a company can simply gather a large group of people and pay them to create positive reviews for its undeserving products. Therefore, the internet needs AI to learn how to distinguish the genuine from the fake in order to provide reliable data.

Google’s AI system recently removed around 100,000 negative reviews of the Robinhood app from the Play Store following the Gamespot trading debacle when it detected attempts of rating manipulation intended to artificially downvote the app. This is AI in action, which will soon seamlessly fit into Internet 3.0, enabling blogs and other online platforms to sift data and tailor them to each user's liking. As AI advances, it will ultimately be able to provide users with the best filtered and unbiased data possible.

Spatial Web and 3D Graphics

Some futurists also call Web 3.0 the Spatial Web as it aims to blur the line between the physical and the digital by revolutionizing graphics technology, bringing into clear focus three-dimensional (3D) virtual worlds.

Unlike their 2D counterparts, 3D graphics bring a new level of immersion not only in futuristic gaming applications like?Decentraland, but also other sectors like real estate, health, e-commerce, and many more.

Web 3.0 Applications

A common requirement for a Web 3.0 application is the ability to digest large-scale information and turn it into factual knowledge and useful executions for users. With that being said, these applications are still at their early stages, which means that they have a lot of room for improvement and are a far cry from?how Web 3.0 apps could potentially function.

Some of the companies that are building or have products that they are transforming into Internet 3.0 applications are Amazon, Apple and Google. Two examples of applications that utilize Web 3.0 technologies are Siri and Wolfram Alpha.

Siri

Over the years, Apple’s voice-controlled AI assistant has grown more intelligent and has expanded its abilities since its first appearance in the iPhone 4S model. Siri uses speech recognition, along with artificial intelligence, to be able to perform complex and personalized commands.

Today, Siri and other AI assistants like Amazon’s Alexa and Samsung’s Bixby can understand requests such as “where is the nearest burger joint” or “book an appointment with Sasha Marshall at 8:00 am tomorrow” and immediately come up with the right information or action.

Wolfram Alpha

Wolfram Alpha is a “computational knowledge engine” that answers your questions directly by computation, as opposed to giving you a list of webpages like search engines do. If you want a practical comparison, search “england vs brazil” on both Wolfram Alpha and Google and see the difference.

Google gives the results of the World Cup even if you didn’t include “football” as a keyword, since it is the most popular search. Alpha, on the other hand, would give you a detailed comparison of the two countries, like you asked. That’s the key difference between Web 2.0 and 3.0.

Transitioning from 2.0 to 3.0

Web 2.0- the current medium of technology, that the world has been running on since 1991, has transformed the way communication and transactions took place across the globe. However, it also had a lot of loopholes like being prone to widespread cyberattacks, forging a digital divide, and being a threat to digital transactions as well. In an attempt to safeguard users from it all, Web 3.0 was birthed as the third generation of the internet in the early 2000s but it is only now that the idea has come to the forefront for the common public. Web 2.0 was considered to be only a?read-write?web, but Web 3.0 is being considered as a?read-write-interact?web which means it will let you interact with content including 3D-graphics as well. Web 3.0 is a decentralized way of networking online that processes user data in a faster way to provide a personalized user experience.

Being built on the technologies of artificial intelligence, machine language, and semantic web, Web 3.0 is turning up as a safe haven for the new generation of internet users. Interpreting human mannerisms and understanding the context of user queries, Web 3.0 aims to deliver an evolved, more diligent and accurate answer. The fact that Web 3.0 is based on blockchain technology, makes it decentralized, which means no more mediator interference will have to be ensured before making any digital exchange anymore. Unlike in Web 2.0, with Web 3.0 users would find it easy to share and transfer their data, promote information to advertisers without an incumbent risk of a data breach or privacy corruption.?

Prospective perils of Web 3.0

While we are talking about the advantages of Web 3.0, it’ll be perfunctory to turn a blind eye towards the possible liabilities that come with it. It is no secret that decentralization would vouch for an easier and safer space of communication, but it would also limit the medium of reversing any action once made online. Since people are very well versed with the older versions of the internet, getting used to this modern approach would consume time and effort for all to understand its usage, risks, issues that come along with it. Despite innumerable measures and claims made for safety, the absence of a specific and dedicated law and regulation over the network will result in risks that all stakeholders will face, without robust protection or recourse.

Post the advent of Web 3.0, reputation management will also be a major task for companies. As important for brands to maintain credibility in the market as it is, Web 3.0 will increase anonymity and indirect competition, and decentralisation will also, perhaps reduce monopolistic behaviour or trends in the industry. Once we look beyond the concerns it causes, decentralisation could be the much-needed answer against tech-giants and their prominent monopolistic behaviour.

With Web 3.0, companies would be required to be on the top of their reputation management game with cutting-edge market intelligence, user-friendly policies and attitude, and stringent marketing aptitude.

To avoid any such fiascos on the way, the makers of Web 3.0 have themselves drafted a series of legal documents that come hand in hand with the use of the network. Also considering how this complete iteration is based on blockchain, it becomes all the more essential to get acquainted with the legalities involved here:

• Investing Prospects:?Investment here can only be done via cryptocurrencies or NFTs or any other decentralized currency that comes up in the future. As more and more companies are jumping into the metaverse today, users need to be very careful with making these exchanges as the legal ramifications of this going wrong could be very costly and complex.
• Intellectual Property and Royalties:?IP issues are a matter of concern that every buyer or seller here would need to give major focus on especially if they are dealing with NFTs.?
• Money Laundering:?Like said above, the absence of regulation changes a lot of things and since no mediators will be involved during this exchange, it is always suggested to make sure transparency is maintained and that you are 100% sure of who the person on the other side is.
• Cyber Threats:?Since blockchain technology is all about protecting privacy, it makes it very hard to identify any accused in any case of a data breach. Therefore, just to be on the safer side it is advised for all users to stay in touch with organizations that finesse these safety measures.
• State Laws:?Apart from the international and federal laws, do not forget to understand and follow the jurisdictions allotted by your government on the technology as it is still in the hay-way position in a lot of areas.

Allegations against leading search engines for using?monopolistic practices?to control the way searches, purchases and interactions are done on the internet have been far too many in the recent past. This majorly impacts the interest of users, Web 3.0 will hand more power to the users, each user’s content and data will belong to them, with lesser threat of misuse or theft. With centralised technology, this issue would perhaps be resolved without the giants influencing the move.

All said and done, Web3.0 is an open and ubiquitous technology that is destined to bring a paradigm shift in the internet game. From Apple’s Siri and Wolfram Alpha to Steemit and Sola, this new wave of revolution is making changes in the world and it undoubtedly is the time to embrace it with open arms, while definitely ensuring all safety measures.?

Conclusion

The new internet will provide a more personal and customized browsing experience, a smarter and more human-like search assistant, and other decentralized benefits that are hoped will help to establish a more equitable web.

This will be achieved by empowering each individual user to become a sovereign over their data, and creating a richer overall experience thanks to the myriad of innovations that is to come once it is in place.

( excerpts taken from various reports and articles on Web3.0)