Web 3

A topic of conversation!

“Web 3”, “Web3” or “Web 3.0”, whatever you want to call it, is a topic of conversation today! It won’t be shocking if, you haven’t heard about Web 3, because it’s recently launched in September 2021.

Let me guide you on Web 3 via this article!

Don’t be confused with Semantic, i.e. Web. Web 3.0, is an extension of the World Wide Web through standards set by the World Wide Web Consortium (W3C). It is the third generation of online services where AI-based semantics, AR/VR-based immersive-ness, and blockchain-based decentralization come together to create transparent, ubiquitous, open, and socially responsible internet experiences. In simple words, it is an identity layer for the internet. “Web 3 represents the next generation of the internet, one that focuses on shifting power from big tech companies to individual users,” says Robert Stevens.

It was elaborated by Berners-Lee along with AI researcher James Alexander Hendler and computer scientist Ora Lassila in a 2001 Scientific American article. The goal of Web 3 is to make Internet data machine-readable. The emergence of Web 3 is the result of the sequence of improvements done in the concept according to the need of time.

There were two different versions before Web 3. The first version of the Internet — known as Web 1 — arrived in the late 1990s and comprised a collection of links and homepages. The websites weren’t particularly interactive. You couldn’t do much apart from reading things and publishing basic content for others to read. Then was the era of Web 2. Some people call this the “read/write” version of the internet. This version of the Internet allowed people to not only consume content, but create their own content and publish it on blogs like Tumblr, Internet forums, and marketplaces like Craigslist. Later, the emergence of social media platforms including Facebook, Twitter, and Instagram took content sharing to new heights. And enters Web 3, which can be understood as the “read/write/own” phase of the Internet. Rather than just using free tech platforms in exchange for our data, users can participate in the governance and operation of the protocols themselves. This means people can become participants and shareholders, not just customers or products. In rather simpler words, you have the freedom to manipulate your data on your terms.

Web 2 has major drawbacks because of this Web 3 was brought into existence to overcome this backwardness of Web 2. Web 2 is based on a centralized client-server structure. However, Web 3 was developed to break this centralized system into distributed ledgers. It is built using artificial intelligence, machine learning and the semantic web, and uses the blockchain security system to keep your information safe and secure. Artificial Intelligence (AI) will help in decoding and filtering online data and offering the most relevant choices to users. The Internet of Things (IoT) will help the interoperability layer of Web 3 to connect the internet to smart devices. Blockchain will help in achieving decentralized data storage and foster faith in the virtual world. It is the foundation for web 3.0.

Walking you through Web3, here is the list of advantages and disadvantages that gives more of a basic idea related to Web3.

The advantages of Web 3 are:

1. Encrypted data
2. Accessible data and multiple backups
3. Transparency
4. Enhanced data processing
5. Single profile creation
6. Restrictionless platform

The disadvantages of Web 3 are:

1. Very advanced to use
2. Complicated functionality
3. Difficult to adopt

Now, as you have all already come across the idea of what actually Web 3 is, and now you all might have started to think about and notice the devices and technologies present in your surroundings. Take a look around you, and think about the applications of Web 3.

I am sure, you all might have guessed at least a few. Let me take you through some basics as well as some of the unknown words to your ears.

Some applications of Web 3 are:

1. Apple’s Siri
2. Wolfram Alpha
3. Sola
4. Steemit
5. IDEX
6. e-Chat
7. Everledger

Web 3 is the idea of the next generation of the Web, where most of people will be connected on a decentralized network and people will also have control of their own data. It will take a little time to understand the complexities of Web 3, as it is a very new topic. However, the development of this new version will make the vision clear and the world will probably be covered with Web 3, a vague topic now.

Writing credit

Melina Shakya [Melina]