The internet is a system of computer networks worldwide that connect devices using the internet protocol. It was Tim Berners-Lee, a British scientist, who invented the world wide web (WWW) in 1989. It was initially designed and built to address the need for automated information-sharing amongst scientists in universities and institutes around the world. The fundamental concept of the world wide web was to combine the rapidly developing technologies of computers, data networks and hypertext into a robust and user-friendly information system.
The internet we use today is constantly evolving and has come a long way. The earliest version, Web 1.0 was the read-only version with basic texts. Then came Web 2.0, where you can interact online across borders. Web 3.0 is the current approach that offers to construct and link information more logically with its structure.
Web 3.0 is an extensible software framework, where one software can interact with another piece of software allowing users to join, creating massive multi-user and economically strong applications. It refers to the development of web interaction and usage, which includes transforming the web into a database with the incorporation of distributed ledger technology (DLT). This data can assist in the creation of smart contracts tailored to the needs of an user. Web 3.0 is a concept, movement and vision for a decentralized web. With this function, it becomes more user-centric and effectively supports user data privacy.
Features of Web 3.0
Several companies use Web 3.0 technologies to gain competitive advantages when it comes to managing customer relationships, having a greater degree of control over their operations, and reducing the risks of cyberattacks. Below are some features of Web 3.0 that can be useful.
Through search and analysis, the semantic web enhances the web technologies to create, exchange and connect content by comprehending the meaning of words rather than just using keywords or numbers.
By merging semantic skills with natural language processing, computers can make sense of information like humans, providing faster and relevant results. They develop greater intelligence and improve consumer satisfaction by doing this.
Web 3.0 websites and services like geospatial contexts, computer games and museum guides make considerable use of three-dimensional design.
Information is interconnected with Web 3.0 because of semantic metadata. As a result, the user experience changes and achieves a new degree of connectivity by utilizing all accessible data.
Instead of being restricted to PCs and smartphones, everyone can access internet content and services at any time and from anywhere, using any number of devices. The Internet of Things (IoT) has made it possible to create a wide range of intelligent devices.
Blockchain technology encrypts and protects user data. This stops big businesses from accessing and using personal data of the consumer for their gain. It is a decentralized system used to implement intelligent contracts. A blockchain collects data together in groups that are known as blocks, which holds information and stores it in a digital format. A blockchain’s uniqueness is that it fosters trust by ensuring the accuracy and security of a data record, without the requirement for a reliable third party.
They are best known for their roles in cryptocurrency systems such as Bitcoins. It is used in a decentralized manner, ensuring that no one user or organization has power and that all users collectively maintain control. Since decentralized blockchains are irreversible, the data entered into them cannot be changed. This means that blockchain transactions are permanently recorded and visible to the entire community.
A decentralized autonomous organization (DAO) is a framework for an automated computer network that is run by its community instead of a single entity, such as the government or a financial institution and whose transaction records are kept on a blockchain. Different data generators can sell or trade their data using decentralized data networks without giving up ownership, endangering privacy or depending on middlemen. Decentralized data networks will consequently have a wide range of data suppliers in their increasing data economy.
For instance, whether you check into an app with your email and password or ask Alexa a question, internet giants like Google and Facebook track and monitor your activities to better target their advertisements. However, as data in Web 3.0 is decentralized the users will own their data and do not have to risk their privacy or lose ownership.
Edge computing, which is the foundation of Web 3.0, processes apps and data at the network edge on gadgets like smartphones, laptops, appliances and sensors. To enable quick, near real-time analysis and response, edge computing processes, analyzes and stores data closer to where it is generated. Through high-performance processing, moderate connection and secure platforms, it offers a way to capitalize on the data gathered from devices.
Using Web 3.0
Web 3.0 browsers like Brave (a free and open-source web browser) allow users to access and explore decentralized applications (DApps) and integrated cryptocurrencies with enhanced privacy and security. Technologies like artificial intelligence (AI), metaverse and distributed ledgers aim at developing the internet which is accessible to everyone. They give consumers control over their browsing experience and eliminate centralized organizations by utilizing cryptography and public blockchains.
Storage of digital assets and cryptocurrencies is swiftly gaining popularity among traders. As their portfolios continue to expand, they need a dependable wallet to keep their funds secure. Cryptocurrencies, NFTs or other digital assets can be stored and effectively managed using Web 3.0 wallets. They can be integrated into the conventional web by enabling flexible access to DApps without the help of other intermediaries and still retaining full ownership.