The next generation of the Internet is Web 3.0

The 1990s witnessed the introduction of Web 1.0, which symbolized the birth of the Internet. This was a collection of static, read-only web pages built solely by a few developers. At first, it was one of the most significant breakthroughs the world had ever seen since everyone could access published material. Users may, however, just read and peruse these web pages and not interact with them. Furthermore, there were no search engines available throughout the engagement, and exploring the internet was a difficult procedure.

Web 2.0 emerged in the 2000s. Its initial iteration comprised a single flow of information from the online publisher to the user, but its more sophisticated version allows for much more interaction and engagement. Users, for example, might create their own accounts in order to have distinct identities within the network. This component provided significant benefits to businesses and e-commerce since it allowed them to sell their items to a global audience of potential customers online at a low cost.

This made it simpler for anybody to publish anything on the internet, resulting in the popularity of blogs and user-created information sites like Wikipedia. Furthermore, Web 2.0 spawned the emergence of social networking sites such as Facebook, Twitter, and YouTube. During this period, the development of web technologies such as JavaScript, HTML5 (HyperText Markup Language 5) and CSS3 (Cascading Style Sheets 3) was critical in the creation of these dynamic web platforms.

There has been a concept of constructing the next level, Web 3.0, for some time now. This is a decentralized web that represents the most recent generation of internet apps and services supported by distributed accounting technology, the most common of which being Blockchain. In other words, a more open, intelligent, and self-sufficient web.

Benefits and features

The advantages that Web 3.0 will provide to users are numerous, particularly in areas such as social networking, where they will have control over personal data, preventing it from being hacked repeatedly. Follow is the first decentralized social protocol for Web 3.0 powered by Blockchain, and it seeks to offer users complete control over their identities and social data.

The emergence of NFTs, which are nothing more than digital collectibles and other online archives that can be purchased and traded using cryptocurrency, has aided Web 3.0. For example, under the moniker ConstitutionDAO, a group of people got together to try to buy a copy of the US Constitution using digital currency. DAO is a decentralized, autonomous, cryptocurrency-supporting organization that brings together organizations regulated by blockchain and tokens, and it is the closest approach to the concept of web 3.0 at the moment.

3D graphics will be essential as a feature of Web 3.0 in order to create a spatial network with digital information existing in space. This Internet will be supported by virtual and augmented reality, 5G networks, IoT, AI, and Blockchain, which will blur the lines between the digital and physical worlds. These early 3D designs may already be seen in museum guides, building projects, and computer games. IoT devices will also be critical to the success of Web 3.0, as they will enable a slew of new linked smart gadgets to access online content at all times.

Future outlook

Several firms are preparing for the transition from web 2.0, which generates services and access to their platforms in return for monetizing and benefiting from users' personal data to web 3.0, which allows user engagement without monetizing data. Data is exchanged with many apps and services, resulting in alternative perspectives of the same information; also, individuals will recover ownership and control over their personal data.

These huge centralized institutions, such as governments and international businesses, must lose control over profit-generating data, which implies giving up control. As a result, it is unlikely that huge businesses will wish to participate in the deployment of Web 3.0.

Web 3.0 and cryptocurrencies

The blockchain tries to keep information organized in blocks by using a trustworthy cryptographic hash to make them unchangeable and safe. When this web becomes a reality, everyone in the virtual world will have access to resources, apps, and material as long as the cryptographic keys are in place. There are several approaches to making the virtual world more inclusive for all users.

The connection with cryptocurrencies is such that crypto players that provide the greatest technology to contribute to the ecosystem earn the most attention. In terms of specific cryptocurrencies and investment opportunities, it is positioned as one of the most popular web 3.0 blockchains since it facilitates the creation of decentralized apps. This raises it to the attention of long-term crypto investors. However, it is not the only one; there are other chains that outperform others in terms of web 3.0 importance, including The Graph, Filecoin, Livepeer, Helium, and others.