What is Web 3.0 and how will it transform digital world?

Other March 22, 2022

As it exists now, the internet is unquestionably one of the finest human inventions. This global network of computers and other devices influences the planet. We can’t live without the internet now, and it’s the most crucial part of our lives. The virtual and physical worlds are merging. Also, with the advent of the internet, many things have changed. It used to be limited to a few computers, but now it’s everywhere.

What is Web 3.0, and how does it function?

Web 3.0, often known as Web3, is a startup that seeks to decentralize procedures and eliminate large intermediaries and regulatory authorities. It aims to democratize the internet and make it safer for all users by taking power away from online heavyweights.

Web 3.0, based on the blockchain technology that powers bitcoin and other cryptocurrencies, gives users control over their own experience. That means focusing on personal data ownership and control and online business interactions. In addition, its peer-to-peer network will personalize the online experience using AI and machine learning to connect people better and provide more accurate results.

Web 3.0 has four key features:

The Semantic Web: a section of the internet designed to assist machines in reading data.
AI: where computers and robots make judgments and solve issues like people.
3D graphics: incredible three-dimensional renderings of anything you can think of.
Unity and connectivity: for example, every house has a digital assistant.

How will Web 3.0 affect the digital world?

There are many hypotheses on how the internet will evolve in the future and affect the digital world. Others fear the reforms will be more ideological than practical. However, whatever anybody says, one thing is sure. The new internet will mainly consist of:

Transparent or open-source
Trustless
Decentralization

Let’s go further into these terms to learn more about Web 3.0.

Transparent or open-source, Web 3.0 will be an open network. The programs’ openness assures their use. And anyone may view the code online that includes open-source app creation and deployment. Due to the open nature of Web 3.0, anybody may use a virtual resource.
Trustless: Such networks are not a new concept.”Trusted” third parties should not be involved in virtual transactions. Providing our data to other parties seems inappropriate, given that data theft is a significant threat globally. Online transactions are unaffected by trustless networks. Popular blockchain technology exemplifies honesty.
Decentralization: Social media is quite popular now as it enables us to communicate with anybody, wherever. But social media networks are monopolized. These companies have access to millions of people’s data, and they can use it for unknown reasons. Eliminating the web’s gatekeepers reduce centralization. Experts say Web 3.0 will foster ultimate decentralization. And numerous secure websites will store the data to prevent any data loss.

Conclusion

In short, Web 3.0 is the next evolution of the internet, and its foundations have already been laid. Web 3.0 will be a tremendous advancement in network technology since it will be a hyper-intelligent network that can absorb information like a human. Beyond the technological marvels promised by Web 3.0, it also presents concepts that would fundamentally alter the way today’s networks operate. It’s also a new era of networking, blurring the lines between the digital and real worlds even more.