The internet has undergone significant change since it was invented. From the Internet Relay Chat (IRC) to modern social media, it is now a vital part of human interactions, and is still evolving
Web 3.0 is the next generation of Internet technology that mainly relies on machine learning and artificial intelligence (Al). It aims to create more open, connected, and intelligent websites and web applications that focus on a machine-based understanding of data.
Web 3.0 aims to provide more personalised and relevant information through Al and advanced machine learning techniques at a faster rate. This can be achieved through using smarter algorithms and the development of Big Data analytics.
Currently, most websites have static information or user-driven content, such as forums and social media. While this allows information to be published to a broad group of people, it may not cater to the specific needs of users. A website should tailor the information it provides to each user, similar to the dynamism of real-world human communication.
Tim Bernes-Lee, a computer scientist, provided a succinct explanation about a Semantic Web in 1999. “I have a dream for the Web (in which computers) become capable of analysing all the data on the Web – the content links and transactions between people and computers.” A “Semantic Web,” which makes this possible, has yet to emerge, but when it does, the day-to-day mechanism of trade, bureaucracy, and your daily lives will be handled by machines talking to machines.
In Web 3.0, an ocean of information can be accessed from websites and applications, and they can understand and use the data in a meaningful manner to the user. Brief Overview of The Internet’s Revolution
Websites and web applications have changed dramatically over the last decades. They have evolved from static sites to data-driven sites that users can interact with and influence.
The first internet was referred to as Web 1.0, a term coined by Darci DiNucci, an author and designer. Back in the early 90s, websites were built using static HTML pages that could only display information – users could not change the data.
That changed during the late 90s, when the shift towards a more interactive internet started taking form. Web 2.0 users could interact with websites through databases, server-side processing, forms, and social media
This brought forth a change from a static to more dynamic web. Web 2.0 brought an increased emphasis on user-generated content and interoperability between different sites and
Web 2.0 was less about observation and more about participation. By the mid-2000s, most websites made the transition to Web 2.0.
When looking at the internet’s history, the evolution of a more semantically intelligent web makes sense. Data was first statically presented to users. Then users could dynamically interact with that data. Algorithms can use all that data to improve user experience and make the web more personalised and familiar.
Web 3.0, while not fully defined, could leverage Peer-to-Peer (P2P) technologies such as Blockchain, open-source software, virtual reality, the Internet of Things, and more.
Currently, most applications can only run on a single operating system. Web 3.0 enables applications to be more device-agnostic, meaning they could run on various types of hardware and software without any added development costs.
Additionally, Web 3.0 aims to make the internet more open and decentralised. In the current framework, users can only rely on network and cellular providers that survey the information going through their system. With the advent of distributed ledger technologies, that may soon change, and users can take back ownership of their data.
What Makes Web 3.0 Superior to Its Predecessors?
•Decentralisation of control – since intermediaries are removed from the equation, user data will no longer be controlled by them. This reduces the risk of censorship by governments or corporations and cuts down the effectiveness of Denial-of-Service (DoS) attacks.
•Increased information interconnectivity – As more products become connected to the internet, larger data sets provide algorithms with more information to analyse. This can help them provide more accurate information that accommodates the specific needs of the individual user.
•More efficient browsing – When using search engines, finding the best results used to be quite challenging. However, over the years, they have become better at finding semantically relevant results based on search context and metadata. This results in a more convenient web browsing experience that can help anyone find the exact information they need with relative ease.
•Improved advertising and marketing – No one likes being bombarded with online ads. Web 3.0 aims to improve advertising by leveraging smarter Al systems and targeting specific audiences based on consumer data.
The internet’s evolution has come a long way from non-editable information to a web that provides a considerably better user experience. While there is no concrete definition for Web 3.0 yet, innovations in other technological fields are already set in motion.
Disclaimer: The content in this report is from the open source and for educational purposes only, therefore should not be considered as financial advice. We all know that the cryptocurrency market is highly volatile. Therefore, all the financial decisions should be made after doing your wide spectrum research.