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.
Arguably, there are a few early-stage Web 3.0 applications that already exist today,
but until the new internet becomes fully embedded in the web infrastructure, their true potential
cannot be observed.
Web 3.0 is the upcoming third generation of the internet where websites and apps will
be able to process information in a smart human-like way through technologies like machine
learning (ML), Big Data, decentralized ledger technology (DLT), etc.
Web 3.0 was originally called the Semantic Web by World Wide Web inventor Tim Berners-Lee
and was aimed at being a more autonomous, intelligent, and open internet.
Let's simplify web3.0.
In web 3.0 data will be interconnected in a decentralized way.
This would be a huge leap forward from our current generation of the internet (Web 2.0),
where data is mostly stored in centralized repositories.
Furthermore, users and machines will be able to interact with data.
But for this to happen, programs need to understand information both conceptually and contextually.
With this in mind, the two cornerstones of Web 3.0 are semantic web and artificial intelligence
(AI).
In the next phase of the internet, blockchain technology will enable people to interact
directly with each other without the need for an intermediary.
Users will interact by joining a Decentralized Autonomous Organization (DAO) – a collective
entity owned and operated by its community members.
The user's data will be backed by a system of universally accessible smart contracts.
These contracts will be coded into a blockchain which will be managed by a decentralized collection
of nodes.
So, which kind of predictions are included about web3.0, let's see.
Data transfers will be decentralized and all transactions will be recorded over a blockchain-enabled
distributed ledger.
Universally accessible smart contracts will free people from relying on a central authority
to ensure data integrity.
The metaverse will become a big revenue source for the entertainment industry.
Blockchain technology will enable users to create digital items/non-fungible tokens (NFTs)
on the fly to protect personally identifiable information (PII) and intellectual property.
Users will be able to monetize their data.
If we look back at Web 1.0, it was essentially a bulletin board where people could create
read-only text threads.
There was a focus on open protocols that were decentralized and community governed.
Web 2.0 changed this by adding multi-media and allowing users to interact with websites
as if they were applications.
Web 2.0 also introduced engines that allowed non-technical users to search for information
using keywords.
This was a step forward, but keyword searches don't always return relevant results.
If a 2.0 user searches for information about an insect called a Camaro, for example, it's
likely that search engine results pages will include information about the automobile Chevy
Camaro.
In contrast, Web3 search engines will analyze the user's historical data across multiple
platforms and use artificial intelligence (AI) to predict the context of the query context
and return information about the insect, not the car.
Laws around data privacy and ownership will have to be updated to protect user-owned data.
The decentralized nature of Web 3.0 will also increase latency because data will no longer
be stored in large, centralized databases.
Companies and internet service providers will have to make huge investments in edge computing
to move computing capacity closer to users in order to reduce latency.
Because the distributed architecture of Web 3.0 negates the need for centralized authorities,
security will be enhanced.
Potential attack surfaces will be smaller and without a centralized authority, there
will no longer be a single point of failure.
Smart Contracts, Cryptocurrencies,
Blockchain, Machine learning,
Artificial intelligence, Augmented reality,
Virtual reality, Advanced Networking like 5G and above,
Edge Computing, Geolocation Services,
NFTs.
Now the question is, Will web3.0 provide us with a personal and customized browsing experience?
The answer is Yes.
The new internet will provide a more personal and customized browsing experience, a smarter
and more human-like search assistant, and other decentralized benefits that are hoped
will help to establish a more equitable web.
This will be achieved by empowering each individual user to become a sovereign over their data,
and creating a richer overall experience thanks to the myriad of innovations that is to come
once it is in place.
As Web 3.0 becomes the next major era in computing.
IT and business leaders should start thinking about structuring their networks and operations
to leverage the potential of Web 3.0.
We will see nearly all of today’s normally offline machines, from home appliances like
ovens, vacuums, and refrigerators to all types of transport become part of the IoT economy.
This will be interacting with its autonomous servers and decentralized applications (DApps),
Advancing new digital realms like blockchain and digital assets to power a myriad of new
tech “miracles” for the 21st century.
Let us know in the comments below what you think of the predictions being made about
the web3.0.
In Web 3.0 One word that is often heard is the non-fungible token or NFT.
What is NFT, how it works and how you can make money by this, everything will be discussed
in the next video.
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