What is Web 3.0? What are the differences it has coming to make.
| Victor Ajayi
Imagine a version of the internet that won’t just precisely interpret your inputs, but actually understands what you intend to convey. Whether text, voice or other means, your content will be more tailored to you than current experiences. We are at the verge of a new phase of the web’s evolution. Some early pioneers named it Web 3.0.
You should have heard of Web 3.0 unless you’ve not really been in the tech world. Web3.0 is coming as the next pitch in the web’s growth. For it’s aimed at making the internet more intelligent. Although there are a few prototypes of Web 3.0 apps that have already emerged. However, their true potential will be discovered fully when the internet is integrated in the web infrastructure.
Definition: What is Web 3.0?
Web 3.0 is the evolving third generation of the internet. In which websites and apps are capable of handling information in a more human-like manner. Using machine learning (ML), big data, decentralized ledgers, etc. Tim Berners-Lee, the inventor of the World Wide Web, originally called Web 3.0 the Semantic Web, and wanted it to be more autonomous, intelligent, and open.
Web 3.0 defines data exchange as being decentralized, which is a major advance over the current generation of the internet (Web 2.0), where the majority of data is stored in centralized repositories. So it is the read-write-execute era, where computers can understand data like people do through Artificial Intelligence and Machine Learning.
You might have observed that, when you hear about Web3, cryptocurrencies are often cited. This is because many of these protocols use cryptocurrency. So anyone who wishes to help create, control, or improve one of these projects will be given a cash incentive (tokens).
Hence, Web 3.0 apps are developed on peer-to-peer networks like Ethereum and IPFS. The networks are maintained by users, not businesses. The self-organization of the networks could prevent one point of failure from occurring.
Web 3.0, Cryptocurrencies and Blockchain.
We can expect a strong convergence and harmonious relationship. Between these three technologies and other fields. As Web 3.0 networks will operate via decentralized protocols - the foundation for blockchain and cryptocurrency technology.[caption id="" align="alignnone" width="1600"] Credit - rev.to[/caption]
The algorithms will be Intuitive, with seamless integration and automation with smart contracts. And can be used for powering micro transactions, censorship-resistant P2P sharing and storage of data files with Filecoin. Hence could completely change the way each and every company conducts business. So, the current slew of DeFi protocols are just the tip of the iceberg.
Features of third generation Web.
One of the key elements of Web 3.0 is “semantic web.” Semantic(s) is the study of the relationship between words. So, according to Berners-Lee, semantic web will enable computers to analyze loads of data from the Web. Which includes the representative use of syntax, strings and symbols. For content transactions and interactions between persons. Kindly take a glance at this representation:
Their syntax may be different, but their semantics are pretty much the same, since semantics only deals with the meaning or emotion of the content.
Web 3.0 allows computers to comprehend material in the same way that people do, resulting in quicker and more relevant results. To meet the demands of users, they grow increasingly intelligent.
The web machines can read and decipher the meaning and emotions conveyed by a set of data, it brings forth intelligent machines. Although Web 2.0 presents similar capabilities. It is still predominantly human-based, which opens up room for corrupt behaviors such as biased product reviews, rigged ratings.
When Web 3.0 inevitably arrives, as hard as it is to fathom. Considering how smart devices have already changed our behavioral patterns. The internet will become exponentially more integrated in our daily lives.