What is Web 3.0 and How does it work?

What is Web 3.0?

Web 3.0 is the latest version of the internet whose goal is to be a decentralized version of the virtual world where users can interact with each other intelligently without worrying about the central and data-specific repositories.Web 3.0, often known as the Semantic Web, is a World Wide Web expansion whose specifications are defined by the World Wide Web Consortium (W3C). This type of technology is used to formally represent metadata.

  • Web 3.0 makes the evolution of the web much more inclusive and less biased, where blockchain is the resource to focus on. Web 3.0 is the next internet revolution where the main focus will be on information related to intelligence accessibility.
  • The centralized server will be replaced by the information that is present on multiple computing devices, and it will be more of a peer-to-peer bandwidth with no single authority. A blockchain is a decentralized machine that deploys intelligent contracts that define the logic of an application for web 3.0, and those who wish to build a blockchain application are required to deploy their application code on the state machine.
  • Codes are stored and managed on the blockchain with all the application data and are collectively owned by peer-to-peer networks of nodes. The data is globally accessible, whereas the existing data cannot be edited or changed.

 

What is the difference between Web 1.0, Web 2.0, and Web 3.0?

  • Web 1.0 was a collection of information superhighways of documents connected together by hyperlinks, and it was good before we saw the emergence of Web 2.0, where more people were attracted towards the web through platforms like Facebook, YouTube, Twitter, and more.
  • Web 2.0 leads to a massive centralized tech corporation that dominates the flow of information and money on the internet. Recently, Web 3.0 was released, a decentralized but secure internet where people connect to each other and exchange money and information without any unnecessary middlemen.
  • Web 3.0 is used to describe the evolution of web usage and how it interacts among several paths. It does not own data but instead shares it with various services that show various views of the web content. It promises to establish the world of information in a way that Google can't even do with engine schema.

 

What are the key features of Web 3.0?

Some of the key features of Web 3.0 are:

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  • Artificial intelligence (AI): In this, Natural Language Processing (NLP) is combined, which helps the computer understand information like a human and provide faster and more relevant results. It has become much more intelligent to satisfy the needs of users and make the processing faster.
  • 3D-Graphics: Three-dimensional design is widely used in Web 3.0 websites and services such as computer games, e-commerce, geospatial contexts, and so on. It provides the ability to use the three dimensions of Web 3.0.
  • Connectivity: The information is connected in web 3.0 and all the praise goes to semantic metadata, which results in the user experience reaching the next level of connectivity that provides all the available information.
  • The Semantic Web: It is the next level of the evolution of the web. It improves the web technologies that are used to generate, share, and connect data through search and analysis, which is totally based on the ability to understand words rather than numbers and keywords.
  • Ubiquity: The content can be accessed by using multiple applications connecting every device to the web, so the service is accessible everywhere in the world.

 

What is the distinction between blockchain and web 3.0?

In web 3.0, the blockchain is one more layer of technology. In simple terms, blockchain is the foundation of Web 3.0, which redefines the data structures of the semantic web. A blockchain is a decentralized machine that deploys intelligent contracts that define the logic of an application for web 3.0, and those who wish to build a blockchain application are required to deploy their application code on the state machine.

  • Codes are stored and managed on the blockchain with all the application data and are collectively owned by peer-to-peer networks of nodes. The data is globally accessible, whereas the existing data cannot be edited or changed.
  • The files and data are encrypted before sharing and secure on web 3.0 because all the data is copy-protected, enabling P2P transactions without middlemen.
  • Web 3.0 apps utilize AI and MLP to process the queries and bring back the required data or information from the blockchain, which is accessible wherever in the world.
  • It is necessary to find a possible convergence point for block-chain in web 3.0. It plays a vital role in transforming conventional approaches to data management and storage.
  • The state's layered security provides the opportunity to develop a valuable settlement layer on the internet.

 

How do blockchain function in Web 3.0?

Bitcoin was the first point of reference for drawing the outline for Web 3.0. The blockchain and other protocols aid in the creation of networks in which a hacker could breach multiple security measures around the world by accessing data in a single facility. The protocol of the blockchain helps in the specific management rules of the protocol. It also guides the data through the majority of all the users in the network. The user receives a network token for their contribution to network security and maintenance. Cryptocurrency, trading, and mining are all permitted using blockchain and Web 3.0.

 

Internet of Things and Web 3.0

The work done in Web 3.0 has revealed the beauty of its promises, and decentralized platforms have pointed towards safer and communal modes of online discourse by replacing generated algorithms with user-created networks and distributed systems.
What is Web 3.0 and How does it work?

An IoT system delivers cyber-controlled objects with a daily dose of new data. The internet of things is connected to multiple devices that are connected to each other.

For example, for events and meetings, tracking fellow attendees at a large conference is hard to trace and, therefore, they will receive a message on their phone or smart watch. They will also receive directions to the keynotes, and the presenter will also be alerted with some background information to customize their presentation to deliver a more fascinating experience for everyone. Venues that have IoT technology can easily track the movement of people and food during conferences in real time. This also helps the meeting planner understand what their attendees like based on their new information. Acquiring the IoT and Web 3.0 will increase productivity by working for you. You will no longer need to spend your time managing the data and it will also recommend the venue according to the time, date, climate and number of attendees to streamline the planning processes. The IoT also provides a path to extend the digital domain to the physical world. It also improves the interaction and controls the surrounding environment.

 

Summary

With its particular characteristics, blockchain was a potent force that altered corporate operations. From basic observations about the third generation of the web, it is quite clear that blockchain plays a vital role in Web 3.0. Web 3.0 is decentralization and prominent issues identified with web 2.0 are centralized control and concerns about data integration for a new variation of the internet. The third iteration of the web could gain access to an autonomous and open internet.

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Further Reading

Blockchain
NFT
Web 3.0 Wikipedia

 

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