If you’re in the tech industry, there’s no way you’ve heard of “Web3” or “Web3 Platform.” The recent emergence of various Web 3 platforms, such as MetaSky, has sparked curiosity about the future of the Internet. The web we use and interact with today is a far cry from what it was ten years ago. This change is only accelerating, and Web3 seems to be the next logical step.
Web 3, also known as “Web 3.0” or “Net 3”, is gaining ground, especially among crypto enthusiasts. In the final weeks of 2021, cryptocurrency enthusiasts, major tech companies and venture capital firms are engaged in a debate over the future of Web 3.
When people talk about Web 3.0 or Web 3, they mean a version of the Internet that is decentralized, free, and most importantly free from the control of Big Tech.
Interesting fact: in 2021, Big Tech will account for 57 percent of all Internet traffic (Google, Netflix, Facebook, Apple, Amazon and Microsoft).
Here’s what you need to know to understand what all the fuss is about. In this post, we will demystify the concept of Web3. So let’s begin.
What exactly is the Web 3 platform?
(Image source: Instagram)
We are at the beginning of a new era, Web 3.0. Web 3.0, like Web 2.0, begins with the abstract concept of exchanging information over an open network and evolves into a fairer and more transparent Internet. As a result, Web 3 platforms are often associated with blockchain technology.
It will be like a “web of data” that can automatically understand, combine and interpret data, providing a much richer and more interactive experience for users. However, such platforms are decentralized on the web and challenge the dominance of tech giants by concentrating power (and data) in the hands of users, not companies.
How is Internet 3.0 different from previous versions?
The main advantage of Internet 3 is that it was designed to solve the biggest problem that arose from Internet 2: private websites that collect customer data can be sold to customers and stolen by hackers.
As a decentralized network, Web 3 is not controlled by a single entity, and the applications (apps) built on it are also open.
What are the basic functions of Web 3?
In general, it can be said that today’s Internet is just an improved version of the Internet in 2010. On the other hand, Web3 represents a big change in the way we use and interact with the Internet.
Based on what has been described so far, Web3 is the next era of the decentralized Internet, where consumers can access the desired Internet service without compromising their privacy or being controlled by third-party Internet service providers.
Now let’s talk about the core components of Web3.
Blockchain and Web 3.0: What’s the Connection?
As mentioned earlier, blockchain technology serves as the backbone of Web3. Data is decentralized using a blockchain network that allows users to control and share their data without losing ownership. There is no risk of data leakage and no third parties are involved. It also provides a secure way to access various services.
In addition, a blockchain is required for Bitcoin, which is another important component of Web3. Blockchain technology supports Web3 transactions using non-fungible tokens (NFTs).
Artificial Intelligence (AI):
Although Web 2.0 has its own version of artificial intelligence (AI), it is still largely dominated by large tech companies. We will see how artificial intelligence is used to facilitate the decentralization of Web 3.0.
AR/VR (augmented reality/virtual reality)
AR/VR is another important part of Web3 as it will act as a cornerstone of the metaverse, which is critical to the future of Web3. At the end of the article, we move on to the Metaverse in more detail.
What is the purpose of Web 3.0?
When we use the internet, we lose control over our data as companies like Google and Facebook keep copies of it. Having our personal information in the hands of others is not a bad thing in itself; But if a company takes care of the entire process, things can fly by quickly.
Do we want a society where the information you provide is misused out of greed or pure malice? This goes far beyond privacy; On the contrary, in our case, control is key. Every day, we give organizations and individuals control over petabytes of data, and there is no clear alternative.
For your convenience, after reading this article, we will continue to register applications with our details. After all, the advantage of technology is that it can be done.
In this context, blockchain is seen as a catalyst for the next generation of the Internet, as it provides three main solutions to the shortcomings of Web 2.0:
security and privacy
Building a state-of-the-art website using the latest encryption technologies allows Internet users to access their information securely and without the prying eyes of governments or other agencies.
Separate storage area
Although large datasets can be broken down into smaller chunks, each can be recorded separately and stored in separate locations, resulting in multiple storage locations. There are many programs and systems like IPFS that are designed to hack and hack multiple programs in the world at the same time, each with its own security features.
identity and reputation
We are not alone in our concern about how this anonymity affects trust and reputation online. Our digital identities are already created from content shared on social media and other platforms and are already part of the internet. In the new database, we have to manage and constantly update the ever-changing data because it doesn’t belong to us.
Is Web 3 the future of the Internet?
By now, it is easy to believe that Web3 can fill the gaps left by Web 2.0 and bring solutions to the problems it created. However, it should be noted that most aspects of Web 3.0, such as the future of cryptocurrencies, are optimistic visions that have yet to materialize. With that in mind, you can’t expect everything to go as planned.
The transition from Web 1.0 to Web 2.0 took more than a decade. As a result, the full implementation of Web 3.0 is expected to take the same, if not longer, time.
Therefore, Web3 cannot be considered the perfect future of the Internet. But many, especially those in the cryptocurrency industry, believe more Web 3 platforms will emerge.
