Web 3.0 is the latest Internet technology that leverages machine learning, artificial intelligence and blockchain to achieve real-world human communication. The icing on the cake is that web 3.0 not only allows individuals to own their data, but they will be compensated for their time spent on the web.
Sound too good to be true? Welcome to the future of the Internet.
What Is Web 3.0?
Web 3.0 (also known as web3) is the third iteration of the Internet that interconnects data in a decentralized way to deliver a faster and more personalized user experience. It is built using artificial intelligence, machine learning and the semantic web, and uses the blockchain security system to keep your information safe and secure.
Decentralization, openness and incredible user utility are the defining characteristics of web 3.0.
The idea behind using the semantic web is that it understands and interprets the context and concept of the data. Therefore, when a user searches for an answer, web 3.0 delivers the most accurate and relevant result to the end-user.
Tech giants such as Google, Facebook and Microsoft are some of the few companies currently making an enormous profit from user data. But web 3.0 will enable all of us to be compensated for our time and data: “people have been exploited by tech firms — essentially, deceived into giving valuable data away with little or no compensation from the firms who collect and benefit from it. Instead, [with web3] people should be paid for the data they share.”
This means that users will be able to sell their own data to advertisers while still retaining ownership and data privacy. In addition, web3 will enable websites and applications to use data more meaningfully and tailor the information to each user.
Hence, this third generation of the web is an Internet where you will enjoy personalized interactions with machines and websites in the same manner as when you communicate with any other human.
Key Features of Web 3.0
The key features of web 3.0 are:
- Open – It’s ‘open’ in the sense that it’s made with open-source software developed by an open and available community of developers and accomplished in full view of the public.
- Trustless – The network offers freedom to users to interact publicly and privately without an intermediary exposing them to risks, hence “trustless” data.
- Permissionless – Anyone, including users and providers, can engage without the need for permission from a controlling organization.
- Ubiquitous – Web 3.0 will make the Internet available to all of us, at any time and from any location. At some point, Internet-connected devices will no longer be limited to computers and smartphones, as they are in web 2.0. Because of the IoT (Internet of Things), technology will enable the development of a multitude of new types of intelligent gadgets.
Difference Between Web 1.0, Web 2.0 and Web 3.0
Before we dive further into web 3.0, we need to understand how we got here – via web 1.0 and web 2.0.
Here’s the brief history of the Internet:
- Web 1.0 is a read-only web where people can read information written on websites.
- Web 2.0 is a read-write web where people can read and write content on websites and applications.
- Web 3.0 is a read-write-interact web (powered by artificial intelligence) where people can read, write and interact with content, including 3D graphics, on websites and apps.
Source: https://www.singlegrain.com/web3/web-3-0/
