Coming of Web 3.0 — The Decentralized Internet
For some people, Web3 is the metaverse. To others, it is completely mysterious, bound-up in a lot of crypto systems that seem opaque to newcomers. But what the heck does “Web 3.0” mean anyway?🤔
Imagine a new type of internet that not only accurately interprets what you input, but actually understands everything you convey, whether through text, voice or other media, one where all content you consume is more tailored to you than ever before. We are at the tipping point of a new phase in the web’s evolution. Some early pioneers call it Web 3.0.
Let’s first break down the history and the difference between Web 1.0, Web 2.0 and Web 3.0. Not to bore you, here are some simple explanations:
Web 1.0 — Information only goes from the website to the user.
Web 1.0 consisted of sites serving static content instead of dynamic HTML. Data and content were served from a static file system rather than a database, and sites didn’t have much interactivity at all.
You can think of Web 1.0 as the read-only web.
Web 2.0 — Information goes both ways. Users interact with the website.
This refers to the era where we are in now — most websites are dynamic. In the web2 world, you don’t have to be a developer to participate in the creation process. Many apps are built in a way that easily allows anyone to be a creator. Meaning the majority of content on the website is entered by users. The most prevalent form of this is in social media websites like MySpace, Facebook, Twitter, Reddit, Medium, Twitch and LinkedIn. Other messaging sites like WhatsApp, Telegram, Discord and WeChat have adopted similar formats, expanding from simply a messaging service into a social media site.
Search engines like Google, eCommerce websites like Amazon and entertainment streaming sites like Netflix and Disney Plus have also developed in a similar dynamic fashion, where the content is based tailored to the user.
This is made possibly through the collection of tremendous volumes of data. These volumes of data are a massive asset to companies like Facebook, Google and Amazon and these companies have used the data to make billions. They are centralized data banks and can remove anyone from their platform.
There has been a lot of protest over these facts. While many users enjoy the user experience of connecting with billions of other users online, many have asked, is there a better way? Can data privacy and sovereignty exist? Is there a a better way? And what comes next is Web3!
Web 3.0 — The great beyond. Information becomes open, decentralized, smart. It interacts with the user and the website or app.
Web 3.0 is a decentralized trust-less and permission less network that is able to use Artificial Intelligence and Machine Learning and where the data from its network can be accessed in many places at the same time (ex. Internet of Things). Web3 manifests through new technologies, such as cryptocurrencies, virtual and augmented reality, AI, and more. Empowered by new technologies, the Web3 movement is spearheaded by a shift in how we, the collective, view and value the Internet.
Web3 is about creating an Internet that works for the people, owned by the people.
The vision of Web 3.0 is to take the best parts of Web 2.0 but decentralize them. Instead of a central corporation as the gatekeeper — build out social media networks where individuals control their own data and following.
This biggest barrier to implementing Web 3.0 is that it is difficult to implement in practice. The largest, most profitable corporations in the history of Earth control Web 2.0. They also employ the largest and best network of computer programmers.
A huge benefit of Web 3.0 is the move towards being able to access data from anywhere. This is mainly being driven by the heavy usage of smart phones and cloud applications.
The idea here is to make sure that the user can access as much data as possible from anywhere, not just their home. Technology is trying to expand this idea in ways that allow TV’s to pick up on user data, and allowing smart phones to access data on your computer.
Why we need Web3.0 ?
Rewind to 1990s and the Internet was a very different place like read only Web. In the 20 years following, the “World Wide Web” would change the nature of society — this we know. Critically, though, the basic technical architecture of the internet provided no backstop against changes happening in the other direction.
Technology often mirrors its past
The internet today is broken by design. We see wealth, power and influence placed in the hands of the greedy, the megalomaniacs, or the plain malicious. Markets, institutions, and trust relationships have been transposed to this new platform, with the density, power and incumbents changed, but with the same old dynamics.
You probably see this in your life when you try to purchase a bus, train, or airline ticket. All of your searches are logged, sold, and manipulated against you. The Internet is yours to use, but you are not its master. Individuals around the world face even greater challenges, specifically in countries where the Internet is partially walled, restricted, or blocked entirely.
Take how we pay for things online. On Web 2.0, you are not empowered to make payments per se. In reality, you must contact your financial institution to do it on your behalf. You are not trusted to do something as innocuous as pay your water bill. You are treated like a child appealing to a parent. If you wish to contact your friend online, then likely you will need to appeal to Facebook to relay your message.
The hallmark trait of the Internet was the democratization of information, yet today, information is increasingly unreliable, siloed, and in some instances downright harmful. Fake accounts controlled by bots are manipulating children. Realistic human faces created by AI will create even larger problems for society through deep fakes and identity theft. And many more!
Therefore, there is need of world of open protocols like Web3. Web3 is about rearchitecting the existing services and products of the Internet so that they benefit people rather than entities. While it’s impossible to predict the future, one vision of a Web3 world is one that has open-source protocols at the foundation while businesses act as interfaces that provide convenient access and additional features.
Web3 is an internet that is open for all users, built on open protocols and transparent blockchain networks.
Welcome to Web3.0
Here are some examples of web3.0
Brave Browser — The Brave browser is one example. It is a decentralized web browser that does not collect user data for monetization purposes. Instead, the browser allows users to make money from engaging ads from the platform. Ad buyers use the Brave platform to target users, but with consent before the ad is served. If users opt in to ads, they are paid for doing so. This is opposite of the monetization model that has commercialized the Internet. In that model, it is the platforms who earn money by serving ads to users. With Brave it gives users the chance to earn from ads in the browser’s native token called BAT. Advertisers might also be able to save money by spending on organic engagement rather than campaigns which users may simply ignore.
Metaverse
The metaverse or virtual worlds is another example of Web3. It is a world where users can interact with one another using avatars. It is just like the real world, but where value is created from digital assets. In the metaverse, NFT (Non-Fungible Tokens) play a big role in the ecosystem. This allows users to own virtual property in the metaverse and trade or sell it with other users. The transactions will use the platform’s own native token like MANA on Decentraland. Virtual worlds will become a place to trade valuable digital assets that could represent art, music and collectibles. These are based on smart contracts that run on top of a blockchain.
This is how web 3.0 looks now. It’s still pretty new so its understanding will be clearer with its development. As for now, the average internet user may notice web 3 when they:
- Do not have to share all their data with apps like Facebook/Meta.
- Enter a website they like and they are NOT greeted with a message “THIS DOMAIN HAS BEEN SEIZED BY THE STATE”.
- Speak to their friends and DO NOT see relevant ads.
- Own their digital assets Non Fungible Tokens(NFTs).
- Interact with people online and can instantly, privately transfer money or assets without anyone asking how, why, and wait 5 business days.
To read more about Web 3.0 , Metaverse and Blockchain . Furthermore, you can follow this link for blockchain demo https://blockchaindemo.io/ .
With that, I conclude this Web3 blog. I hope you enjoyed reading this blog and found it informative & interesting.
About Me:
Hey there , I am Supriya Patidar , an Undergraduate Student at IIIT-Allahabad & member of the FOSS wing at GeekHaven, IIIT-Allahabad.
