What Revolution Can We Expect from Web 3.0?

The internet has impacted our day-to-day lifestyle. Not a single day goes by without the usage of internet. When we think about how much the web has changed the world, it becomes imperative to think how far we have travelled.

With the advent of NFTs and metaverse, the term Web 3.0 has started gaining traction. However, it was first created by Gavin Wood, co-founder Ethereum in 2014. Web 3.0 is known for its potential to transform internet experience by directly engaging with users, devices and systems in smart vehicles, homes and workplaces.

In the growing digital era, there’s a lot more to Web 3.0 that is worth acknowledging, but before we understand Web 3.0, it’s necessary to understand its predecessor Web 2.0 that was developed in 2005 -the advance version of Web 1.0.

Web 2.0 basically meant the change from static to user-generated content, where users could interact with each other. For instance, applications like Facebook, YouTube, etc., came with the emergence of Web 2.0.

The most significant difference between Web 2.0 and Web 3.0 is decentralization. In Web 2.0, the apps runs on a single server, while in Web 3.0, the application uses decentralized networks of many peer-to-peer (P2P) servers known as blockchain, which maintains public ledger of each transaction.

The usage of blockchain will decentralize the process of data storage, fostering faith in the virtual world. Web 3.0 doesn’t just stop there, as it is developed on the crucial foundation of Artificial Intelligence (AI), and Internet of things (IoT). With the help of AI, the online data will be decoded and filtered, offering the most relevant choices to users. IoT will help the interoperability layer of Web 3.0 to connect our smart devices with the internet.

The main purpose of creating Web 3.0 is to provide better and relevant internet experience by continuously interpreting the digital footprints of users. It’s safer and easier to integrate online wallets into decentralized application (DApps) that enables anonymous and secured payments without having to hand over personal data.

If the Web 3.0 works on its principals, it would reverse the current mechanism and make the users sole owners of their data. It’s similar to NFT’s that give users complete ownership of the unique digital art or commodity they purchase.

Web 3.0 could guide us towards a consumer-centric future web experience that will be open-sourced and will focus on the privacy of users. Besides this, it will also transform the way humans and machines interact with each other by allowing easy ownership transfers and automatized cryptocurrency- based payments.