Web 3.0 is the third version of the internet. The design is now being worked on and allows people to use decentralized blockchain technology. More specifically, decentralized blockchain networks clear the way for fast and easy use of search engines and social media platforms. With web 3.0, the internet will not be solely navigated through Google searches – it uses blockchain, the same system used by cryptocurrencies.
The first version (web 1.0) of the internet as we know it began in 1989. At that time, information could not be used in a decentralized way. The first intentions were to revolutionize information sharing by altering the way people communicate. As we have learned, the world wide web has dramatically changed communication and is considered one of the most transformational events in human history. Since 1989, internet growth has been the greatest expansion of information access in human history. Web 2 came about 10 years later and allowed users to upload content mainly using Google – Twitter and Facebook are not far behind. To make it more clear, highlights of the three web versions are as follows:
Web 1.0 is read-only (people can read information on websites).
Web 2.0 is read and write (people can read and write content on websites).
Web 3.0 is read, write, and interact (people can read, write and interact with content on websites and apps).
Web 3 will be a combination of the two earlier internet versions, but will take power away from tech giants and corporations, putting it back into the hands of people. Instead of exchanging data to upload content online, users may become participants by earning tokens on the blockchain system. Ultimately, this will allow one to have a say over a network.
How Does Web 3.0 Work?
In the web 3.0 world, search engines, marketplaces and social networks will have no overriding company. Before, in the financial world for example, security was provided by one’s bank. Soon, one will do it themselves since there will be ownership of privileges and managing of money online. You will be able to control your own data and have a single personalized account where it is easy to switch between e-mails, online shopping and social media. In the process, this will create a public record of each person’s activity on the blockchain system. It comes in the form of a shared ledger that uses cryptography to secure information. This ledger is a series of blocks that are added onto a previous
block in the chain, thus the name Blockchain. Each block contains a timestamp, data, and hash. All of this will result in a unique identifier for the contents of the block. Although web 3.0 is not quite here yet, tech companies are assembling development teams and have been for quite a few years.
Is Web 3.0 Feasible?
Experts have expressed concerns over how to regulate a decentralized internet, which would make it even more difficult to prevent cybercrime and misinformation. Web 3.0 is initially harder to use than 1.0 and 2.0, but it is believed that anyone can overcome the challenges to manage their data securely. Once people get past the initial hurdles they will be able to avoid exploitation from companies like Facebook, Google, and Microsoft who earn big profits from user data. Web 3.0 is being designed to understand the context of data and deliver the most accurate results to end-users. In the use of web 2.0, people interact with its front-end, then to its back-end, and finally with its database. The entire code is hosted on centralized servers, which are sent to users through an internet browser. Web 3.0 has neither centralized databases that store applications or a central web server where the back-end logic resides. Instead, there is a blockchain to build apps on decentralized computers and maintained by anonymous nodes on the web – this is some deep stuff!
The End Of 2.0 And Move To 3.0
Web 2.0 became more obsolete near the end of 2012 because people were becoming aware of the development of web 3.0. Companies such as Amazon, Facebook, Google, and Microsoft, were getting complaints from customers. These complaints were regarding users who felt as though they were being treated unfairly. Big companies take advantage of data, which puts a serious threat on democracy and free speech – complaints against Facebook are the loudest. An ex-designer at Facebook accused the tech-giant of internal conflicts of interest between what was good for the public and what was good for Facebook. Facebook, over and over again chooses its own interests – making more money. When web 3.0 becomes widely available, end-users will get the most significant advantage of data encryption to protect their information from disclosure. At that time, encryption will be unbreakable. It will prevent large organizations from controlling or using people’s personal information for their own interests. Users will gain complete ownership and privacy of their information.
The Design Of Web 3.0
Web 3.0 is being primarily designed via the Ethereum Blockchain and smart contracts on globally accessible computers maintained by a peer-to-peer network of nodes. Anyone in the world will be able to access the computers and write to it. Essentially, it is not owned by any single entity but rather, together by everyone in the network. Smart contracts are programs run on the Ethereum Blockchain; these are written by app developers in high level computer languages. Web 3.0 will make the web more intelligent, secure and transparent. The result will be more efficient browsing and effective human-computer interaction.
Disadvantages Of Web 3.0
There is a lot of information available against web 3.0. In this article we want to explain more about what web 3.0 is, than an opinion. Briefly though, some factual disadvantages are that less advanced computers will not have the ability to provide the benefits web 3.0 has to offer. Initially, most people will not even have systems advanced enough to access web 3.0. If web 3.0 takes over the internet, sites based on web 1.0 technology will become obsolete. Old technology is incapable of updating its features to match new ones. This means that only advanced devices will be able to handle web 3.0, making it difficult for any individual or business that cannot afford such devices. Computers will need to be further distributed for the technology to reach more people globally.
Final Thoughts On Web 3.0
We are heading towards an internet where people will have complete control over their data and privacy; all of this will be powered by blockchain. Web 3.0 will accelerate the honest and transparent use of data, from personalized search results to cross-platform development tools and the use of 3D graphics. The web will become more immersive and interactive. Development is underway with active use estimated near 2030. There are some positives though; web 3.0 is expected to be user-friendly after a learning curve on how it works. Browsing will be highly personalized as websites will automatically adapt to your device, location, and accessibility needs. Internet search engines will allow one to speak their natural language and then provide accurate results. Enhanced app experiences are also expected
