What is Web 3.0?
Web 3.0 is the third generation of web development in which technologies are built on the blockchain for internet decentralization. Decentralization has been in play since 2009 through the Bitcoin creation, thereafter, Ethereum introduced the decentralized application (Dapp) which constructed the first map for web 3.0, amending the standards of the present online ecosystem Whereby platforms and applications built on the Web won’t be held by the central gatekeepers, the word 3.0 was introduced by “Gavin Wood” the co-founder of Ethereum blockchain, who is described as the father of Web 3.0.
The word “Web Decentralization” is used for simplifying Web 3.0, but is still complex to those who assume it’s all about tokenomics, therefore we have a lot to tell about web democracy, the purpose to change the old systems of 1.0 and Web 2.0 through blockchain technology, smart contracts, and Artificial Intelligence.
The Web Era
The web itself was first founded in 1994 by Tim Berners-Lee.
Web 1.0 is known as the beginning of world-wide-web and cloud computing from the year 1990-2000 which was designed to be read-only web pages written using <HTML> codes with less or no fun, static web content built on centralized infrastructure and monitoring.
Web 2.0 is the face media that began in the year 2000 to date, technology such as Google, Facebook, the traditional finance models (aka TradFi), or mediums impacts our real-life activities but are also filled with manipulation, censorship, and controversial engagement, the term 2.0 was first introduced by Tim O’Reilly in 2004.
Web 3.0 is the web advancement with a more Sophisticated future, a combination of web 2.0 technology created with the aim of web decentralization built on blockchain technology with a different set of technical qualities such as artificial intelligence, smart contract, and semantic technology.
Artificial Intelligence (AI)
— is not just a technology required for robots, this technology type is used on the blockchain through collective data that instructs the computer to understand real-life activities while using collected data on a decentralized application, an example of this can be seen at Rejuve.ai, a decentralized AI-power longevity research.
Smart Contract
— is the most powerful tool used on the blockchain to finalize a written code order secure agreements, a smart contract also powers the peer-to-peer decentralized applications.
semantic technology
— is a collective data type that contains collected information with the combination of (AI) technology. This information is served to the computer for a better user experience and also allows decentralized search engines to sort proper and un-manipulated information.
The Web 3.0 Structures.
Web 3.0 comprises different aspects of technologies created to benefit the common man therefore not based on a single entity ownership model of 2.0, for example.
A decentralized autonomous organization (DAO)
— is an open-source community for various individuals to make a collective decision to favor all parties using a smart contract voting mechanism.
Non-fungible tokens (NFT)
— are a combination of tokenized assets such as art, article, or visual games assets.
Decentralized finance(DeFi)
— was created to give open finances to individuals and counter the traditional financial system(TradFi).
Decentralized application (Dapp)
— consists of the cross-chain, or informative web application, built on the blockchain.
Metaverse
— a visual application where real-life activities can be imitated using blockchain and 3D visual effects.
Names Services
— which allow individuals to own domain names on the blockchain, these names are alphanumeric codes that are both human-readable and machine-readable contract addresses.
There are also numerous uncovered aspects and products of the Web 3.0 platform, built for real-time activities and benefits such as playing to earn, reading to earn, writing to earn, and moving to earn.
The table of comparisons illustrates the purpose of web 3.0.
| Web 1.0 | Web 2.0 | Web 3.0 |
|---|---|---|
| Static website | dynamic content with engagement | semantic AI application and contents |
| information delivery | private own social media | Decentralized Media and metaverse |
| centralized domain | private domain | decentralize network |
| Centralized infrastructure | private cloud hosting storage | decentralize cloud hosting |
| centralize database and content delivery | Relational database-driven content and application delivery
|
blockchain-based peer-to-peer distributing service |
Conclusion
Growth is inevitable in every corner of the human race, so it is in the web she created, but the web 3.0 isn’t just all about Growth or development, it’s all about freedom, and decentralization.
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