Oct 26, 2022
9 min read
Web 3.0 is about a decentralised future based on blockchain. Are you ready for the next generation of Internet technology?
The internet is at a crossroads. The previous generations of the web, Web 1.0 and Web 2.0, may have been revolutionary in their own right, but they still face a lot of issues that need to be fixed and improved. This is where the concept of Web 3.0 (also known as Web3) comes into play with the aim of addressing all these issues using decentralised blockchain technology (which was used primarily for cryptocurrencies like Bitcoin and Ethereum in the past decade or so).
Here is a breakdown of everything you need to know about the next generation of internet technology: what it is, what it isn't and some key details that revolve around the subject.
What is Web 3.0 (simply put)?
Web 3.0 – also known as the Semantic Web – is the next stage of the Internet. It uses cutting-edge technology to empower people with more control over their data.
As we know, in the past few years, there have been some serious issues with data breaches and privacy concerns. There are also a lot of things to improve upon when it comes to user experience on the internet as well. This is what Web 3.0 aims to do.
Web 3.0 aims to solve these problems by using decentralised blockchain technology, which will allow users to have complete control over their data and make sure they can use it in any way they want without having to worry about privacy issues or data breaches.
Does Web 3.0 already exist?
The short answer? No, Web 3.0 doesn’t exist. But the longer answer is, "Kind of."
Web 3.0 is a term that describes the next iteration of the World Wide Web – the web as you know it now. It's an evolution of the original web – which was about publishing content for the public – and it's going to be more about connecting people than ever before.
It's not quite here yet, but if you're looking for signs of its arrival, you'll find them everywhere. It's a set of technologies that make it possible for computers to process and organise human-readable content, such as text, data, and images.
The Semantic Web is a vision for how computers can understand the world around them. In particular, it describes a web of data that's structured in such a way that machines can read and use it. It's different from what we have now because it takes into account much more information than just words – it also includes structure and context.
And this new structure makes it possible for computers to use this data in ways that would be impossible with today's web: they could help us find exactly what we need when we need it and organise information in real-time without human intervention.
What is the difference between Web 3.0, Web 2.0 and Web 1.0?
Web 1.0, Web 2.0, and Web 3.0 are all different ways to describe how the Internet has evolved over time.
Web 1.0 – Where It All Started
Web 1.0 was what you would think of as "the original" internet – a place where people could share information in a variety of ways, but it wasn't very interactive or personalised.
The term "Web 1.0" was coined by Tim Berners-Lee, an English computer scientist who gifted us with the World Wide Web in 1989. At this time, during the late 80s and early 90s, people were just starting to get online. There were no websites yet – just text-based messages sent back and forth between computers.
It was an early version of what would become the Internet as we know it today: a network that allowed for the sharing of information between computers through electronic packets called "packets", made possible by HTML.
Web 2.0 – Making Connections
This was when things started changing for the better! The idea of Web 2.0 was popularised at the Web 2.0 conference in 2004 by Tim O'Reilly, who said it was "the next evolutionary stage for the Web."
This version of the web was more interactive and personalised than ever before. Sites like Facebook and Twitter allowed users to connect with one another in new ways. We weren’t used to this before – it was different from the way we connected on Friendster or MySpace. This version also saw an increase in online shopping opportunities as well as online banking services through companies like PayPal or Amazon Pay.
New concepts and ways of using the web were also introduced, like cloud computing. The way we interacted with the internet, applications, and collecting and sharing data changed dramatically.
Web 3.0 – A Decentralised Future
Web 3.0 users will be able to connect directly with each other through a peer-to-peer system (that is, they'll be able to connect with one another directly instead of having to go through a third party).
The technology that enables this connection is called blockchain technology – it's what powers decentralised cryptocurrencies like Bitcoin.
This new version of the internet will also be much more personal than previous versions because it will allow individuals to own their data and control who has access to it.
Meaning that, with Web3, users will have more control over their online lives and what happens with their information online. They won't have to worry about third parties accessing sensitive information or using their data without permission anymore!
What are the key features of Web 3.0?
The next generation of the internet is here, and it's called Web 3.0. It will change the way you do everyday tasks, so here are 5 features to look out for:
- The Semantic Web: Basically, this is where AI starts. It’s a new perspective where information is organised differently than before. Why? So that computers can better make sense of the images, videos, and documents they find.
With the Semantic Web, computers can understand us and our behaviour better. The impact? More effective decision-making in business and everyday life.
- Artificial intelligence and machine learning: Advanced AI will drive Web 3.0, and we’re already watching it happen (think DALL-E 2, Wonder, or starryai generated content across social media lately).
But this is just the tip of the iceberg: complex systems are being built by AI instead of by us. For image recognition and language processing, deep learning algorithms are being refined, while there’s experimentation going on with neural networks, too. Wondrous and (perhaps) terrifying at the same time.
- 3D graphics or metaverse: Enter virtual worlds, or build your own, and interact with others in real time. We’ve been introduced to the idea with Second Life in Web 2.0, but prepare for virtual self-representation to go further in Web 3.0. Zuckerberg’s Metaverse concept is only the beginning.
- Connectivity/ubiquity: With Web 3.0, we'll watch as the Internet of Things (IoT) transforms into the Internet of Everything (IoE). Our devices will be able to communicate with each other – and we’ll communicate with them – anytime, anywhere. It’s the internet everywhere, all at once.
- Smart contracts: Web 3.0 is more than just a new version of the Internet, it's a new layer on top of the Internet that allows computers to communicate and transact with each other. These are called "smart contracts," which are like tiny self-operating programs that execute automatically when certain conditions are met (like when you arrive at your destination or when you send a payment).
These smart contracts are being made available by blockchain technology, which is what makes Web 3.0 so revolutionary – it opens up an entirely new way for machines to interact with each other autonomously without human input or oversight.
How do you access Web 3.0?
Accessing Web 3.0 is easy! All you need is a browser (Chrome, Firefox, Safari) that supports HTML5 technology (most browsers do). But if you want to access dApps through a regular browser, you'll need a Web3 wallet.
Advantages and disadvantages of Web 3.0
Web 3.0 has many advantages, particularly in terms of the increased security and privacy it offers users: no single entity controls your data; everyone has access to the same information, and there are no fees for storing data or sharing it with others. The decentralised nature of Web 3.0 allows for greater autonomy in all areas of life, including finance, communication and information sharing.
The greatest advantage of Web 3.0 is that it makes things more efficient, which means lower costs for everyone involved in doing business online.
It's been great so far, but there are still some things keeping us from getting to Web 3.0 in its early stage of development. Potential threats could include data breaches, which could expose sensitive personal information about users or even entire populations (for example, if someone hacks into a government database).
This could lead to identity theft or other forms of fraud, something we should be vigilant about, especially as AI learns more and more about our behaviour patterns and habits.
Another key disadvantage is that many websites are built using blockchain technology. But this is something that consumers are still largely unfamiliar with. Right now, they may not understand how these sites work or what they do differently than more traditional websites like Facebook or Google Maps (which rely on centralised servers rather than decentralised blockchains). There's still no way to talk about all these Web 3.0 different websites in one place without going through them one by one.
Potential users might think twice until these platforms become more mainstream across society.
Stepping beyond the threshold
Web 3.0 is an idea. It’s been in development for quite some time now and the writing’s on the wall. The foundations have been laid. We’re already interacting with its key features. Yes, it isn't anywhere near completion, but the Web 3.0 concept is gaining traction as we’re moving forward with the blockchain and constantly dealing with privacy issues.
In the past decade, blockchain technology has become one of the most promising technologies for developers to build upon. Its versatility and flexibility are unparalleled, and its most exciting use is in reshaping internet technology.
The possibilities are almost limitless here, but the way forward is still being paved. Web 2.0 is where we've been until now. We stand at the threshold of Web 3.0 – the future of the internet. There will be challenges, of course, but we can’t deny that it’s going to change the way we live and do business online forever.
As with any new technology, there are advantages and disadvantages that come along with it, but overall, Web 3.0 is something we should all get excited about! Get in touch with the team at Flying Bisons to shape your value proposition as we usher in the age of Web 3.0.
Is there Web 3.0 already?
Web 3.0 is a term that describes the next iteration of the World Wide Web. It's an evolution of the original web, and it's not quite here yet. It's a set of technologies that make it possible for computers to process and organise human-readable content, such as text, data, and images. We’re seeing the beginnings of it - so rest assured it’s on its way!
What is the difference between Web 2.0 and Web 3.0?
One of the ways Web 2.0 differs from Web 3.0 is that Web 2.0 was more interactive and personalised than ever before – and Web 3.0 is taking that interaction to the next level. With Web 3.0, users will be able to connect directly with each other through a peer-to-peer system (that is, they'll be able to connect with one another directly instead of having to go through a third party, like Facebook or Twitter).
How do you access Web 3.0?
To access Web 3.0, all you need is a browser (Chrome, Firefox, Safari) that supports HTML5 technology. The good news is that most web browsers do!