What is Web 3.0 and why it is the Future of Internet

Photo by GuerrillaBuzz Crypto PR on Unsplash

The internet world has evolved from the first-generation internet or Web 1.0 which was mainly a “read-only web” version as it only allowed users to peruse websites and webpages, with no major role in the creation and distribution of the content. Then came the second-generation internet or Web 2.0 which was a “read-write web”, and which moved the world from static webpages to interactive experiences powered by user-generated content. It is Web 2.0 that ushered us into the connected world of Facebook, Instagram, Airbnb, and Uber. The Web 2.0 internet revolution was driven by three core factors of innovation; cloud mobile, and social.

And here comes Web 3.0. or the Semantic Web as it is sometimes called. It is a third-generation internet that will rely on artificial intelligence, machine learning, cryptocurrencies, and blockchain technology to allow people and machines “read, write, and interact” in open, trustless, and permissionless networks.

Compared to Web 2.0 which was mainly driven by mobile, cloud, and social, Web 3.0 is incurred on three main technological pillars; decentralized data networks, edge computing, and artificial intelligence.

Key Features of Web 3.0

Web 3.0 has four main features that make it the next large paradigm shift in internet applications.

1. Decentralization

Compared to Web 2.0, where information is stored in large, centralized servers owned by large tech companies like Google and Facebook, in Web 3.0 information is produced and managed by several computing resources, as a collective, like desktops, mobile phones, vehicles, appliances, and sensors, and is, therefore, decentralized. Decentralization has placed the “data economy” in the hands of data owners by allowing data producers to easily and securely sell and exchange data without jeopardizing privacy, losing ownership, or relying on third-party intermediaries.

2. Trustless and Permissionless

Web 3.0 is trustless as it will allow users to interact directly without going through a trusted third-party intermediary. The network is also permissionless meaning anyone can use it without seeking permission or authorization from a central-governing body. These two features are made possible by the fact that Web 3.0 applications are built on blockchain and decentralized peer-to-peer networks.

3. Artificial Intelligence and Machine Learning

Web 3.0 will rely on natural language processing and Semantic Web concepts to effectively sift through online platforms, determine the accuracy of data, and personalize search results based on user preferences. Through the use of technologies like machine learning, Web 3.0 applications will be able to mimic human learning and gradually improve accuracy.

4. Connectivity and ubiquity

Web 3.0 uses semantic metadata and IoT sensors to offer connectivity to anybody, anywhere, at any time. Information and content are more connected and accessed by multiple applications and devices. Web 3.0 allows ubiquity by enabling users to be virtually everywhere at the same time.

Photo by Max Böhme on Unsplash

Is Web 3.0 the Future of Internet?

Web 3.0 is attempting to democratize personal data and content by creating an ecosystem for users, by users, and for users. In this case, users will retain full control of their personal data and content and determine where it is sold and used.

The third-generation internet will take data out of large servers and data centers run by tech giants and put it in the hands of users and creators, a trend that is expected to fuel a creator-driven economy powered by creativity, innovation, and uniqueness.

The following factors make Web 3.0 the internet of the future;

· Personalized interactions among users

· The decentralized public records make the new web more trustworthy

· Faster and more refined search results thanks to Artificial Intelligence

· Lack of centralized authorities and data repositories makes data and content sharing and commercialization easier

· It facilitates more peer-to-peer connectivity and communication

Drawbacks of Web 3.0

While Web 3.0 promises to be revolutionary with significant benefits for users, it still has a few challenges that need to be addressed. Below are some of the challenges still facing Web 3.0;

· While Web 3.0 is accessible to everyone, the technology runs smoothly and optimally with advanced computers

· The full launch of Web 3.0 will make Web 1.0 unusable as the new web version cannot integrate with older versions. This means older sites will become obsolete and become less competitive

· Web 3.0 is still in its infancy stage and is not yet available for widespread adoption. More infrastructure and supporting technologies need to be developed in order to harness the full potential of Web 3.0

The Bottom Line

Web 3.0 is the latest phase of an internet revolution that has seen the world move from a dark, less-connected analog era into a brighter, more-connect digital era. Compared to Web 2.0, Web 3.0 uses semantics and machine learning to allow computers to understand the underlying meaning of information.

This article was produced by Lawy3rz contributor — Mike Joel — Give him a clap.

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Lawy3rz

Lawy3rz

Bringing Legal Services (and more) to Web 2.5 and beyond.