Web 3.0 : Looking backward to understand the future
The internet has been busy these past few months, articles and videos about Web 3.0, crypto currencies and blockchains are everywhere.?
If you’re still a bit confused about how the future use of the internet will be, or maybe you’re thinking about creative ways to invest in new decentralized technologies, you’re in the right place.?
Few questions frequently asked :
You’re gonna find some answers to those questions frequently asked, in this article. Feel free to subscribe to this blog if you’re interested about these topics.
Summary
- Definition of Web 1.0
- Definition of Web 2.0
- Definition of Web 3.0
- Decentralized Era
- Web 3.0 benefits and positive philosophy
- Web 3.0 risks
- How to invest in web 3.0
- Some innovative web 3.0 projects
Web 1.0 (1989-2004)
Web 1.0, also called read only web. No interactions, just static pages. Users were consumers. The web at that time was mostly used for informative purposes, except for e-mail.
Note : The e-mail was invented by Ray Tomlinson in 1971, using ARPANET the precursor of the internet.?
First online stores were developed during web 1.0 era, such as Amazon company that had been selling books at that time.
The transition from Web 1.0 to 2.0 took place over time as servers were upgraded, average connection speed increased, and developers learned new skills and techniques.
Web 2.0 (2004-Now)
Beginning of interactivity with the internet, log in, comments, entering data on innovative platforms.
Web 2.0 does not refer to any specific technical upgrades to the internet; it refers to a shift in how the Internet is used.
Blogs, social media, wikipedia, google, those are all examples of what represents the web 2.0.
Note : The idea of the internet was based on a decentralized network, but it never came to that end.
We as internet users gave our data to platforms, without considering our privacy, even if we thought that we gave the strict minimum necessary (Name, age, few infos to facilitate interaction with strangers). Then those same platforms developed intelligent algorithms (also known as Machine learning and artificial intelligence) based on our historic navigation, our likes, our preferences, our views, our localization and thus making profit by sibling ads and content.?
Nearly 90% of publicity and marketing is owned by google and FB.
Web 2.0 was meant to be open, free to access and decentralized. It ended up being owned by few big institutions who made more money than some countries, and all of that using our data and navigation history.
Web 2.0 issues
Example of centralized network:
Facebook has its own servers that are centralized, it owns all of peoples data and is free to make money from it.
Definition of web 3.0
Decentralized network, that uses the blockchain to secure all transactions without the interference of any bank or government. You’re guaranteed full anonymity.?
— 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 and Artificial intelligence (AI). --?
Source : coinmarketcap
Introduced by bitcoin on 2008 and Ethereum on 2013, this blockchains gave a good alternative to the old fashioned web 2.0. The web 3.0 is based on those new features. The cryptocurrencies are the current money used on web 3.0 platforms, each platform has its own related crypto currency coin, that is freely traded on the blockchain.
Apps are becoming dApps for decentralized apps
Decentralized applications, or?DApps, are essentially blockchain-based smart contract-powered versions of apps popularized by the Ethereum network.
Note : The web servers (web 2.0) are replaced by blockchain networks (web 3.0), let’s understand what is a blockchain to get a clearer image.
Decentralized Era:
Blockchain
The blockchain is a secure and decentralized record of transactions, that is shared on a computer network. The blockchain stores information electronically in digital format, and it guarantees security of data, without the need for a trusted third party.
Because of the decentralized nature of Bitcoin’s blockchain, all transactions can be transparently viewed by either having a personal node or using Blockchain explorers that allow anyone to see transactions occurring live. Each node has its own copy of the chain that gets updated, as fresh blocks are confirmed and added. This means that if you wanted to, you could track Bitcoin wherever it goes.
Blockchain is different because nobody is in charge; it’s run by the people who use it.
Key takeaways
— Think of it this way: The nascent days of the Internet in the 1990s were Web 1.0. The web was seen as a way to democratize access to information, but there weren't great ways of navigating it beyond going to your friend's GeoCities page. It was pretty disorganized and overwhelming.?
Then came Web 2.0 starting in the mid-2000s. Platforms like Google, Amazon, Facebook and Twitter emerged to bring order to the Internet by making it easy to connect and transact online. Critics say over time those companies amassed too much power. Web3 is about grabbing some of the power back. — NPR??
-- Web 2.0 and Web 3.0 represent successive, advanced iterations of the original Web 1.0 of the 1990s and early 2000s. Web 2.0 is the current version of the Web with which we are all familiar, while Web 3.0 represents its next phase that will be decentralized, open, and of greater utility.?
Defining features of Web 3.0 include: decentralization; trustless and permissionless; AI and machine learning; connectivity and ubiquity. -- Investopedia
Web 3.0 benefits
1- Platforms are accessible to everyone wherever you’re located and whatever government you answer to.
2- You possess your personal data (digital identity)
3- Being part of a platform, you receive tokens (very small part of the platform) depending on your activity, free to exchange. That is the new concept ‘Digital possession’.
4- DAO : Decentralized Autonomous Organization. Those are communities who run dApps and blockchains in a Democratic way.
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Web 3.0 risks
There are security concerns when it comes to the threat environment in Web 3.0, as there is much less containment. Privacy violations on an extremely personal scale: In order for effective Web 3.0 marketing to work, more personal (which is not the same as private) information is going to be available on the Web. And the hackers will make the most of it.?
Note: That’s why we all need to understand this new technology that we will be using, to make the most out of it and use it safely.
Keywords:
To resume this point, the Web 3.0 is the transition from centralized internet : closed and dominated by big platforms and institutions. To decentralized internet : open and controlled directly by participants on the platform. We can see it as a new philosophy meant to correct previous downsides of the web 2.0. The web 3.0 is also called ‘The internet of value’.
How to invest in Web 3.0:?
Note : I am not a financial adviser of any sort, all of these informations are meant for informative purposes only, and hopefully help you get a clearer idea about these technologies and what to look for.
e.g: Ethereum, Solana, Cardano, Avalanche, Fantom...
2. Decentralized storage:??
e.g: Filecoin, Arweave, Siacoin..
3. Decentralized cloud services:??
e.g: Akash, StackOS, Aleph...
4. Interoperability blockchains:??
e.g: Polkadot, Cosmos, Nervos...
5. Api & Data : Data exchange between blockchains or the real world with blockchian.??
e.g: The Graph, Chainlink..
6. Streaming and infrastructures:??
e.g: Theta, AIOZ, Helium, Dent...
7. Dapps:?
e.g: Audius (music), Brave (Internet navigator), Uniswap (Crypto exchange)...
There is also : NFT’s , Metaverse, Crypto gaming.. All of which were issued from the Web 3.0.
Some innovative web 3.0 projects :?
Most of cryptocurrencies are related to a project and therefore each project has its own coin.
Brave
Navigator founded by Brendan Eich who also invented the Java programming language.
Braves main strength is that it blocks all adds and there is no cookies or followed navigation. It only uses adds that are directly relied to the navigator itself, therefore Brave proposes free navigation with few adds or paying regular fees using the BAT (Brave Attention Token), to support content providers on the web.
Brave navigator is faster than Safari in loading speed, no adds mean faster charging, mean better user experience. There is more than 40Million android users.?
The BAT is traded at 1.35$ with a 2billions market cap.
Siacoin
Decentralized storage for the post-cloud world, founded in 2015 in the USA, using Blockchain technology. Sia leverages blockchain technology to create a data storage marketplace that is more robust and more affordable than traditional cloud storage providers.
Completely Private
Sia encrypts and distributes your files across a decentralized network. You control your private encryption keys and you own your data. No outside company or third party can access or control your files, unlike traditional cloud storage providers.
This is primarily the common concept of the web 3.0, privacy, decentralized network (no one is using your data), no third party included (When you store your data on icloud for example, your informations are used by Apple to give you a better user experience), faster responses.
AGI Singularity Network
SingularityNET lets anyone create, share, and monetize AI services at scale.
SingularityNET is a full-stack AI solution powered by a decentralized protocol and the first and only decentralized platform allowing AIs to cooperate and coordinate at scale, removing one of the major limiting factors to AI growth today — the lack of interoperability — which severely restricts the ability to leverage the strengths and capabilities of individual AIs.
SingularityNET enables anyone to take advantage of a global network of AI algorithms, services, and agent. No longer must AI technology exist in silos, only capable of operating within a specific company, infrastructure, or industry.
AIOZ
For videos and streaming. AIOZ is a decentralized video platform built on AIOZ Network.
AIOZ aims to give a pleasant Blockchain based CDN (Content Delivery Network). It will include multiple streaming services such as : AIOZ tube (YT competitor), AIOZ OTT (Netflix competitor) and AIOZ TV, a live-streaming app that turns your real-life events into a business.?
Benefits of 'AIOZ' CDN
Cost efficiency, infinite scale, no middleman, delivery speed, high quality streaming.
Conclusion
Web 3.0 started already, most of the companies invest on decentralized network using P2P (Peer-to-Peer) that shares your content in thousands of computers all around the world, creating multiple copies, making it safer.?
There are many positive trends concerning the web 3.0, but we have to be really careful about how we use it, scammers are everywhere. Talk to your financial adviser before making any purchases, it will save you lot of headaches.?
For investors, this web 3.0 bubble gives plenty of opportunities to make profit. But be careful, give yourself time to understand this new developments cause they are volatile, you can win big but also lose big.?
About the author
I'm Riad Anas, an automation and IT engineer passionate about self improvement.?
I work on projects related to music production, web & business development and i recently started a blog where i share some of the principles, books, knowledge that i found useful to perform at a higher level.