What is it about Web 3.0 that has everyone so excited?

When an individual’s existence is threatened, he or she begins to change.

The hurdle must be large enough to compel us to look for a way around it.

So, what roadblock have we hit that prompts us to consider overhauling the current Internet architecture?

So much progress has been made because of it! 

Internet technology has made it possible to conduct business and personal transactions from our own homes and to communicate with individuals across the world in real-time.

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What’s the point of doing something different?

The consolidation of control over the present World Wide Web is the primary concern of Web 3.0 developers.

Currently, a few businesses are in charge of and profiting from the massive quantities of data that they collect from us regularly.

Google, Facebook, and Amazon are keeping tabs on every single search result, every click, every word, and every transaction we make when we use their free applications and services.

Customers’ information is being sold over the globe and used to target the same people again.

Those who saw this as a significant problem began to look about for a better version of the Internet, and the concept of Web 3.0 was formed.

In 2001, Tim Berners-Lee wrote about the so-called Semantic Web in Scientific American, calling it “an extension of the present web in which information is given well-defined meaning, better-enabling machines, and humans to work together.”

No central authority permission or central nodes were required in his idea of the Web.

But even if it doesn’t resemble the Semantic Web, it will represent a stride forward toward decentralization, trust reduction, permissionless usage, and an open Internet of Value.

Blockchain technology already has all of these properties.

Decentralized by definition, the blockchain is administered by its users rather than a single organization. Tokens are used to reward users for their contributions to communities and their ability to make decisions.

It’s impossible for a central authority to manipulate the blockchain since it’s entirely open, requires no permission to participate, and is completely visible.

As a result, every single piece of evidence is scrutinized and reexamined.

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The Internet’s new age

There was a time not so long ago when the Internet consisted of only a few websites that provided a little amount of information and a few photos.

Users were unable to engage with them. 

To go around the site, it was almost hard to move from page to page.

What we’re discussing here is what has come to be known as the Static Web or Web 1.0, which ran from 1989 to 2005.

It was approximately 2005 that Web 2.0 was introduced and has remained popular to this day.

Web technologies like JavaScript, HTML5, CSS3, and others helped define the Social Web.

Browsers and search engines started popping up all over the place, online services started asking for user credentials, and new platforms like Facebook, YouTube, and Wikipedia were created, giving rise to well-known social networks and an endless supply of user-generated material.

As a result, the internet has become a highly social medium. 

Central entities could change a vast database kept on a central server at any moment in Web 2.0. 

There is nothing we can do about it now.

As we go towards the year 2022, we’ll find ourselves handing up our personal information to keep our lives comfortable.

The companies who buy this data sell it to other companies, who then use it to find new ways to advertise to us.

As a user, you may argue that this method provides a better experience, but are we okay with a tiny set of firms discreetly controlling our every move??

We’re being taken down the rabbit hole without even realizing it, and it’s terrifying!

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Web 3.0’s potential is enticing

The promise of Web 3.0 is that the Internet will be made up of decentralized data networks.

Sharing a copy of the code over the blockchain ensures that users retain full ownership of their data.

Their right to privacy will not be violated in any way. They will get tokens in exchange for utilizing the internet services.

There’s no better way to encourage the network to flourish than by pointing out how much it helps the community as a whole.

In contrast, in Web 2.0, just a few well-known retail, social media, and communication powerhouses get the biggest benefits from Internet use.

Artificial intelligence, machine learning, and the semantic web will all be key components of Web 3.0.

An ever-increasing volume of information will be processed with near-human intelligence.

To help users and perhaps abolish the current centralized systems that allow data exploitation and privacy violations, AI systems will execute smart algorithms.

It will be able to tell the difference between the real and the fake, which will help it avoid engaging in unethical practices like biased product reviews, manipulated ratings, and other forms of human mistake.

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Will Web 3.0 improve our Lives?

Data encryption will be the most important benefit for end-users since it will keep their information private.

Users will be able to access their data from any location, on any device, at any time. 

Payments, information flows, and data transfers are all going to become a lot better in the future. 

The days of having separate social media accounts for each platform are over.

A single user profile is required for all platforms, and all data is ours alone.

Users will have the option to share their profiles and sell their data to advertising, but no organization will be able to access their data without their consent.

In addition, Web 3.0 will have a significant influence on problem-solving and knowledge-intensive activities. 

Customers’ demand forecasting and individualized customer service are both made possible by artificial intelligence, which can sift through vast amounts of data to find the information that matters most to them.

What are the drawbacks of using this method?

Every tale has at least two sides to it. Less powerful machines won’t be able to make use of all the new features that Web 3.0 will provide. 

The next generation of the Internet will need a technological update for its users.

New users are hesitant to adopt blockchain because it is tough to comprehend. 

As a result of this, its worldwide popularity is expected to decline.

Web 3.0 is still in its infancy and isn’t ready for wide adoption just yet. This does not only refer to advancements in technology, but also the regulatory implications of such advancements. 

There is still a long way to go before the widespread adoption of Web 3.0 technology.

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In closing, these are my last thoughts

Disruption is expected in the new Internet age. 

It has the power to fundamentally alter business paradigms.

A lot of resources and infrastructure are needed to construct Web 3.0, which is not a simple task. 

Big firms that presently control the Internet data monopoly are hard to think will simply sit back and watch as their influence is gradually eroded.

Many of the world’s most powerful Internet companies are likely to attempt to incorporate certain parts of Web 3.0 into their current platforms and services, much as Facebook has done with its new Metaverse. 

Could we wind up with something that’s still dominated by the same people that ruled Web 2.0 after all this hype? 

It doesn’t matter how hard Facebook works to be a part of Web 3.0, according to true believers, the social network won’t be able to fit in.

In addition, there’s the issue of who has access to your personal information. 

What if we have an issue with Big Tech businesses obtaining and utilizing our personal information? 

Our data will be much more widely available if it is stored on a blockchain, as is obvious upon reflection.

Regardless of whether Web 3.0 entirely replaces the existing Internet or only serves as a framework for the future Internet, it doesn’t matter. 

Whatever happens in the Web 3.0 tale, we can be sure it will have a significant impact on our daily lives. 

Even more, people will be tied together by their smart gadgets, which will control almost every aspect of our daily lives. 

Artificial intelligence will ensure that all of our data may be accessed at any time and from anywhere. 

In the future, Web 3.0 will be everywhere.

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