Web 3.0

A Simple Explanation - By Varsha Saini

Web 3 or Web 3.0 is the third generation of the evolution of web technologies. It is believed that Web 3.0 will rewrite the rules of user identity in the internet world by having a strong emphasis on decentralized applications and making extensive use of artificial intelligence and blockchain-based technologies.

Comparison Between Web 1.0, 2.0 and 3.0

The web, also known as the world wide web is the foundation of how the internet is used. Let’s discuss the evolution of the web from 1.0 to 3.0, though web 3.0 is not in complete existence yet.

Web 1.0

Web 1.0 was a static information provider where people could read information from websites but couldn’t interact with it. The transition from 1.0 to 2.0 almost took 10 years.

Web 2.0

Web 2.0 provides a more dynamic space where people not only read from websites rather interact with them. It provides an environment where people can interact with each other in various forms, therefore it is also regarded as a participative social web.

Web 3.0

Web 3.0 is expected to be a decentralised environment where everyone will have the authority to manage their identity in the internet world. It is still under work in progress.

Problem with Current Internet

We are currently using web 2.0 which is working amazingly. Then why is there any need to shift from web 2.0 to 3.0?

It is because big organizations are dominating the market like google and Facebook. Google handles around 87 of the searches. They use our data and apply ads to them. Who has given the right to them to control the internet?

So basically privacy is the major issue.

Features of Web 3.0

  • Web 3.0 gives users the power to control their data.
  • It will be based on the concept of DOB which stands for decentralization, open source and blockchain.
    Decentralization: The power which is currently with big organizations will be equally distributed.
    Open Source: Just like Android is open source, any company can create their own version of android. Similarly, the internet will be made open source which can be modified by anyone.
    Blockchain: It is the enabler for the creation of decentralized applications and services.
  • Natural Language Process which is a subfield of Artificial Intelligence will be used to provide the internet with the power to distinguish between information just like humans.
  • It is a DAO which stands for decentralized autonomous organization. It provides a computer network organization which is controlled by its community member rather than a single establishment.
  • It is ubiquitous i.e it will make the internet available to all of us at any time and location.
Web 3.0 is introduced by Gavin Wood who is the cofounder of Ethereum Cryptocurrency.

Applications of Web3.0

Below are a few applications of Web 3.0:

  • Metaverse which is essentially a virtual world, a digital representation of the real world.
  • Browser with customer-centric experiences.
  • Blockchain-powered software applications and games.

Pros of Web 3.0

Below are a few advantages of web 3.0:

  • Generally, when you go to any website you put your details there. Web 3.0 allows you to create an anonymous account that can be used on any website.
  • Users can create rules for themselves.
  • Better search using natural language processing.
  • Personalised browsing experience.
  • Uninterrupted services.

Cons of Web 3.0

Below are a few drawbacks of web 3.0:

  • Ownership Concern
  • Regulation issues, difficult to handle cybercrime.
  • The old hardware will become useless.
  • All businesses will have to upgrade to web 3.0 else they will get shattered.