What can be Web3.0 used for?

Web 3.0, also known as the third-generation web, is the next generation of the World Wide Web. It is a data-driven Semantic Web that uses machine-based data understanding to create a better web experience for users.

Today's Web is too static to adapt to each user. Web 3.0 promises to become more interactive and dynamic. It will implement artificial intelligence and blockchain technology to transform the web experience. This will allow for democratization in all areas of the internet.

Web 3.0 makes data safe and accessible across multiple devices. This eliminates the need to have centralized servers. This design reduces the risk of data leakage and makes it more resistant to compromise.

Data Growth, and the Path to Web 3.0

What is Web 3.0? It is the future of the internet. It's unlikely that you will find a Web 3.0 definition with a clear explanation. Tim Berners-Lee stated that Web 3.0 was a constant question in 2006. Perhaps you can access an incredible data resource ...".

Consider how much web data is being generated. Consumer IP traffic will triple between 2017 and 2022, at a compound annual growth rate of 27%. By 2022, global consumer IP traffic will be 332.7 EB per day. 2.5 quintillion data bytes were generated each day in 2020, with 40% of this data being machine-generated. There will be 152 200 IoT devices connected to the internet every minute by 2025.

Although it is obvious that data volumes are increasing faster than ever (and that we will continue creating new content every second), the discussion about a Web 3.0 specification and its connection to the digital universe of information remains open.

Web 1.0: Static, Ready-Only

The first internet version is recognized as the beginning of the evolution of the web. It can be described as a "read-only" web experience. It allows users to view information on web pages that are driven by web browsers using HTML, HTTP, and URL technology. It is highly distributed and there are no search engines. Web 1.0 content, however, is both static and hyperlinked together. Web 1.0 can also be called the Syntactic Web. The user's role in Web 1.0 is very limited.

Web 2.0: Centralized By Giants

Web 2.0, the second generation of the internet, is also known as the "read-write Web" or the "social web" because it allows users to interact with each other. Web 2.0 is powered by the cloud, social networks, mobile, and cloud technology. It allows users to read, write, and distribute content from websites and apps via their smartphones.

Meta (previously Facebook), YouTube, and Twitter control most of the Web 2.0 user data. These tech giants have a monopoly on the data. Web 3.0 is needed to address this centralization (and power) of data and the monetization of users.

Web 3.0 Definition and Features

Web 3.0 is highly distributed, powered by machine learning and artificial intelligence, and leverages Blockchain technology. This results in real-world human communication. The users retain full control of their data and can trade or sell their data without having to lose ownership or trust intermediaries. This business model allows users to log in to a website without their internet identity being tracked.

The digitization of assets through tokenization is key to innovation in Web 3.0. Tokenization transforms assets and rights into digital representations, or tokens, on a blockchain network. The digital currency cryptocurrency and fungible tokens can be easily exchanged across networks. This creates a new model for finance and commerce that is democratic. Non-fungible tokens (NFTs), are data units that can be owned and monetized by users. They represent unique assets like avatars, digital art, or trading cards.

It is easy to spot the main differences between Web 1.0 & Web 2.0. The former allows users to passively browse web pages and does not allow them to generate any content. The latter allows users to create content and interact with other sites through forums, social media platforms, and more. The differences between the Web 3.0 generation and the previous generations of the internet are less clear.

Web 3.0 was a term that John Markoff, a reporter for The New York Times, used to describe a new version of the Web that includes innovative practices and innovations. Here are eight key features that help us to define Web 3.0.

Semantic Web - The Semantic Web is the next evolution of the Web. The Semantic Web enhances web technologies' ability to create, share, and connect content via search and analysis. It does this by understanding the meaning of words and not just by numbers or keywords.
Artificial Intelligence - Combining semantic capabilities with natural word processing, computers can understand information at a human-like level and provide more relevant results. They become more intelligent and better meet the needs of their users.
3D Graphics - Three-dimensional design is a common feature of websites and services that use Web 3.0. This is a common feature in many areas, including museum guides, eCommerce, geospatial contexts, and other computer games.
Connectivity - Web 3.0 makes information more connected through semantic metadata. The result is a user experience that leverages all information available and evolves to a new level.
Ubiquity Internet content and services are accessible from any device, not just smartphones, and computers. Web 2.0 is already widespread in many ways. But the rise of IoT devices and their use will bring them to new heights.
Blockchain User data can be encrypted and protected with blockchain technology. Large companies cannot control and/or use users' personal information for their gain by using blockchain technology.
Decentralized Data is stored within decentralized data networks that are peer-to-peer. Users retain ownership of their digital assets and data and can log in securely via the internet. They are not tracked.
Edge Computing Web 3.0 is based on edge computing, in which apps, data, and sensors are processed at the edge of the network on devices like mobile phones, laptops, and appliances.

How Web 3.0 can Change Our Lives

These features are a step closer to defining Web 3.0. Web 3.0 will see the introduction of semantics, machine learning, and machine learning. This is an evolution where computers can understand information. They can help you find what you're looking for faster, understand the relationships between things, and learn your interests.

Let's now look at an example that combines these eight features:

Web 3.0 allows you to ask your care assistant a question while driving. It will respond by asking you a question about your location and suggesting a nearby cinema. The search engine also consults reviews from social media to suggest a good Japanese restaurant. It might also display a 3D menu of the restaurant on the screen.

Web 3.0 is not a fantasy, but a reality. At least in some cases. It is cognitive technology such as expert.ai that makes this possible. The Web is a web where understanding language is essential. The possibilities are limitless when semantics and natural language processing are central components of it.

These are five of the most common uses for Web 3.0:

NFT: These tokens are closed tokens that are unique to a specific blockchain token. An NFT can store any type of data, including art, music, signatures, and home property records. The most secure cryptographic blockchain for NFTs at the moment is Ethereum (ETH), followed closely by Solana(SOL). It is impossible to duplicate the data from the NFT. People can view, copy, and share the NFT data, but it cannot be duplicated by anyone else.
Metaverse This technology enables people to interact with one another and brands using virtual avatars in a virtual animated universe. It is a virtual replica of the natural environment, with some slight differences. Manchester City Football Club announced plans to create a replica Etihad Stadium in Metaverse World. It will enable their fans to view a live football match in 3D from anywhere else, even if they are unable to travel to Manchester. There are also many brands, such as fashion brands, that are looking into the metaverse for opportunities.
Decentralized Games (GameFi). Games that use the blockchain to store all data and allow users to vote on their features. Axle Infinity is an example of this. Players can earn AX tokens by completing tasks. After that, they can vote on the features. Many decisions can be made, including those regarding gameplay mechanics, graphics, and content. Players can vote using the AX token stack. The web 3.0 gaming experience is consumer-centric. It will focus on the game as a service and not a product.
Decentralized Financing (Defi), Decentralized financing is a protocol that allows users to lend or borrow money in cryptocurrency and fiat currencies. This can be used to generate some income. There is only one difference between a central financial institution such as banks, and decentralized financial institutions such as YFI, AVAX, and AAVE. The entire process takes place on the blockchain and smart contracts.
Decentralized Science: Although the pandemic has ended, researchers and scientists were still trying to find a cure for Covid-19. Researchers have used blockchain technology to classify and store huge amounts of information related to the virus's genome sequence, as well as other technical data. Blockchain technology has also been used to manage vaccine supply and logistics in certain parts of the globe. This ensures that counterfeit vaccines cannot be traded and original vaccines don't get wasted. DeSc is part of Web 3.0, the next generation of the Internet.

Last Words

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