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  • Pankaj Kaushal

The Rise of Web 3.0: Unlocking the Decentralized Internet

Over the past three decades, the web's landscape has undergone a profound upheaval. Since Web 1.0's early years, when the internet primarily served as a channel for the transmission of text-based information, a lot has changed. Rich media content has now been introduced thanks to Web 3.0 and the continuously changing consumer demands. Web 3.0 is the next significant advancement in how users access and exchange information online, and soon-to-be-released AI-enabled search engines are already having an impact on user behavior.

What is Web 3.0?

Web 3.0 refers to the third iteration of web technology (Web3). The World Wide Web, sometimes known as the Web, provides website and application services, acting as the fundamental building block of the Internet. Web 3.0 is always evolving and advancing, therefore there isn't a single, accepted definition. Web 3.0 uses both machine learning and artificial intelligence (AI) to create smarter, more flexible apps. Another component of the growing concept of Web 3.0 is the notion of a semantic web. Web 3.0 will undoubtedly significantly emphasize decentralized applications and blockchain-based technologies. The transition from Web 1.0 to Web 2.0 took more than 10 years, and Web 3.0's full deployment and redesign of the Web is projected to take at least as long. If the trend of change is followed from Web 1.0, a static information provider where users visit websites but hardly interacted with them, to Web 2.0, an interactive and social web enabling user collaboration, it can be assumed that Web 3.0 will alter both how websites are created and how users interact with them.

How Does Web 3.0 Work?

The design and delivery of webpages using Web 1.0 and Web 2.0 technologies are governed by the HTML standard. HTML will still be a basic component of Web 3.0, but its relationship to it and the location of those data sources may shift from previous web generations. The majority of websites and nearly all apps in the Web 2.0 era rely on some sort of centralized database to provide data and support functionality. Web 3.0 replaces centralized databases with decentralized blockchains in apps and services. Blockchain operates on the core tenet that a distributed consensus system may replace an arbitrary central authority.


The concept of a decentralized autonomous organization (DAO) is a developing form of governance in the blockchain and Web 3.0 sectors. A DAO is a kind of self-governance provided by Web 3.0 technologies and communities in an effort to decentralize platform management.


Web 3.0 works with cryptocurrencies in a way that is fundamentally different from how it works with fiat money. Throughout Web 3.0, the use of cryptocurrencies—all of which are built and enabled on top of blockchain technology—enables financing and the use of a decentralized method of payment.


Key Features of Web 3.0

AI, semantic web, and ubiquitous qualities may all be considered in the Web 3.0 design. AI is being used to provide individuals with quicker access to more accurate data. A website using artificial intelligence (AI) should be able to filter through the data and provide the information it thinks a certain visitor would find relevant. Social bookmarking as a search engine can yield better results than Google since the results contain URLs that people have voted on. However, human intervention can also affect these results. Artificial intelligence (AI) may be used to differentiate between real and fraudulent results, producing results similar to social media and social bookmarking but without criticism.


An artificially intelligent web will also include virtual assistants, a component that is now a popular function built into a device or through third-party apps.


The semantic web aims to store and organize data in a way that may be used to teach a system what a particular piece of information means. A website should be able to understand the words used in search queries in the same way that a human would in order to produce and disseminate better information. The semantic web will teach the computer what the data means, and AI will use the information to operate in this system.


Features of Web 3.0

  • Decentralized: Unlike the previous two web generations, which featured strongly centralized governance and applications, Web 3.0 will be decentralized. Applications and services will be possible using a distributed approach without a centralized authority. Further, Web 3.0 is decentralized because it enables the retrieval of information based on its content, allowing it to be stored concurrently in several locations. This would give consumers greater control by dismantling the enormous datasets that internet giants like Meta and Google presently hold. With the advent of Web 3.0, people will maintain ownership and control over the data produced by various powerful computing resources, including mobile phones, desktop computers, appliances, automobiles, and sensors. This will allow users to sell the data produced by their devices.

  • Blockchain-based: Blockchain enables the creation of decentralized apps and services. Blockchain utilizes a distributed method to spread data and connections among services in contrast to a centralized database design. Blockchain can also provide an unchangeable record of transactions and activity in a decentralized setting, aiding in the provision of confirmed authenticity.

  • Semantic Web: Before building the semantic web, let's take a step back and define the semantics. Semantics is the study of how words relate to one another. Computers can now read vast volumes of web data, including text, grammar, commerce, and connections between individuals, thanks to a technique called the semantic web.

  • Artificial intelligence (AI) and Machine Learning: Machines will be able to comprehend information similarly to humans in Web 3.0 thanks to the technology built on Semantic web principles and natural language processing. Web 3.0 will also make use of machine learning, a subset of artificial intelligence (AI), that mixes data and algorithms to simulate human learning while enhancing accuracy. Instead of the present emphasis on targeted advertising, these skills will enable computers to provide faster and more pertinent results in a number of fields, including medical research and innovative materials.

  • Trustless and Permissionless: Web 3.0 will be decentralized, based on open-source software, trustless (i.e., members will be able to interact directly without going via a trusted intermediary), and permissionless (meaning that anyone can participate without authorization from a governing body). Web 3.0 applications, also known as dApps, will thus function on blockchains, decentralized peer-to-peer networks, or a combination of the two (decentralized apps).

The Evolution of Web3.0

Web 1.0: Most of the internet's content in the early days of Web 1.0 was static web pages that people would browse, read, and interact with. It depicted the first "iteration" of a platform with major multi-functional applications that later underwent development. On a read-only web, information was sent from the website to the user. There were no social media platforms, algorithms, or adverts.

Web 2.0: A few things need to be considered while characterizing Web 2.0. The word refers to internet applications that let users interact, collaborate, and express themselves online. It is simply an improved version of the original global web, distinguished by the emergence of social media and the change from static to dynamic or user-generated content. The Web 2.0 paradigm includes online-oriented architecture, social media, and rich web applications. Without any technological changes, it refers to modifications in the way that users use and interacts with online sites.

Web 3.0: To better serve user requirements and interests, the entire web should be redesigned. Developers and writers can work together or separately to employ self-descriptions or other similar techniques to guarantee that the data generated by the new context-aware application is useful to the user.


Web 3.0, often known as an intelligent web, is the third generation of internet-based services.

Although there isn't a more appropriate name, "semantic web" refers to technology that enhances Internet usage by understanding what people are doing rather than just how pages link to one another. Web 3.0 is anticipated to be more connected and intelligent thanks to key emerging technology trends including semantic web, data mining, machine learning, natural language processing, artificial intelligence, and other similar technologies.


General Architecture of Web 3.0

Web3's architecture is entirely different. The server and database are not centralized. The developers have created something known as smart contracts for all business logic and data queries. These pieces of code are created to interact with the Ethereum network. The code is run on an intermediary virtual computer called the Ethereum Virtual Machine (EVM). The general architecture of Web 3.0 is described below:


Front End: Like any other program, the front end establishes the UI logic. However, it does exchange information with smart contracts that specify application logic.


Ethereum Blockchain: These state machines are peer-to-peer networks of nodes that are accessible from anywhere in the world. The state machine is accessible to everyone on the globe and is writable. In essence, rather than being owned by a single company, it is owned collectively by everyone in the network. The Ethereum Blockchain allows users to upload new data, but they are never able to modify already-existing data.

Smart Contracts: These are programs that use the Ethereum Blockchain to function. In order to specify the logic underlying the state changes, app developers express them in high-level languages like Solidity or Vyper.


Ethereum Virtual Machine (EVM): The function of these machines is to execute the smart contract logic. It deals with the state changes that the state machine experiences.


Advantages and Disadvantages of Web 3.0

Web 3.0 will improve surfing efficiency and machine-human interaction by making the web smarter, safer, and more transparent.

  1. Data Privacy and Control: The protection of end-user information from disclosure will be the main advantage of data encryption. The encryption will always be impenetrable in every given circumstance. It will stop powerful companies from holding onto or making use of the personal information of people, like Google and Apple. This will provide consumers with total control and privacy over their data.

  2. Seamless Services: Users may access their data anywhere thanks to decentralized data storage. Multiple backups will be provided to users, benefiting them even in the event that the server fails. Furthermore, no person, group, or government agency will have the authority to block any websites or services. As a result, there is a lower chance of account suspension and widespread service denial.

  3. Transparency: Regardless of the blockchain platform they use, end users will be able to trace their data and see the platform's source code. Since most blockchain systems are created by nonprofit organizations, they are open-source and support transparent design and development procedures. As a result, users will be less dependent on the company creating the platform.

  4. Open Accessibility to Data: Any place or device will be able to access the info. By enabling smartphones and other connected devices to access data on the computer if they are synchronized, the aim is to expand data gathering and accessibility for people all over the world. Web 3.0 will increase the breadth of engagement even further with features like trustworthy data transfers, deeper information flows, and frictionless payments. This will occur as a result of Web 3.0, which will enable fee-free communication with any system.

  5. Restriction-less Platform: The blockchain network is accessible to all users, so they may establish their addresses and engage with it. Users cannot be excluded from this network based on their social characteristics, gender, income, or geography. Users will be able to swiftly move their wealth or assets anywhere in the world thanks to this capability.

Disadvantages

  1. Requires Advanced Devices: Less powerful machines won't be able to offer Web 3.0's advantages. To make the technology accessible to more people worldwide, the functions and properties of the gadgets must be increased. Web 3.0 will only be accessible to a select few people in the existing environment.

  2. Not Ready for Mainstream Adoption: Web3 technology is more intelligent, effective, and simple to use. However, the technology is not yet capable of employing this technique. It takes a lot of effort to progress technology, adhere to privacy rules, and use data effectively to suit customer demands.

  3. Popularize Reputation Management: Web 3.0 will make user information more easily accessible and less anonymous, making reputation management more crucial than ever. Businesses will need to help clients get crucial market knowledge, priceless business insights, attractive content, and cutting-edge internet marketing in order to stay one step ahead of rivals. In other words, brands and companies will need to keep up with their reputation, image, and reputation online.

  4. Complex Functionalities: New users are reluctant to use Web 3.0 because it is tough to understand the technology. It blends traditional online tools with cutting-edge innovations like blockchain and artificial intelligence, as well as consumer connectivity and growing Internet usage. Because only cutting-edge equipment will be able to handle Web 3.0, it will be challenging for any person or organization that cannot purchase such gadgets. Because this technology will be most useful to technically experienced users, its complexity will probably prevent Web 3.0 from being widely adopted.

Future of Web 3.0

Over the past three decades, the web's landscape has undergone a profound upheaval. Since Web 1.0's early years, when the internet primarily served as a channel for the transmission of text-based information, a lot has changed. Rich media content has now been introduced thanks to Web 3.0 and the continuously changing consumer demands. Web 3.0 is the next significant advancement in how users access and exchange information online, and soon-to-be-released AI-enabled search engines are already having an impact on user behavior. The user's experience on this future generation of the web will be customized to meet their requirements and tastes. Users will be able to save information on their own devices that cannot be blocked by any one organization, including governments or businesses. It is sufficient to suggest that it will be the next stage of corporate growth. Marketing could be one of the biggest winners of Web 3.0 for organizations. The users currently operate in a web-mobile-could-heavy environment where they often interact with brands and provide data for effective customer conversion through targeted advertisements. Web 3.0 may eventually have increasingly more customized human-like interactions with computers as AI, ML, and NLP applications advance. This may make it possible for sectors like quick fashion, journalism, FMCG, and electronics to communicate with their target audiences like never before.


Conclusion

If Web 1.0 were the equivalent of B&W films, Web 2.0 would be the era of color and simple 3D, and Web 3.0 would be the equivalent of immersive experiences in the metaverse. It appears that Web 3.0 will now take the lead in the 2020s, just like Web 2.0 did in the 2010s when it dominated the worldwide commercial and cultural environment. On October 28, 2021, Facebook changed its name to Meta, which may serve as an early indication that Web 3.0 is taking off. The fact that Web 3.0 enhances security, trust, and privacy is its most important feature. Web 3.0, which will mainly rely on decentralized protocols, is referred to as the "decentralized web." On the other hand, Web 2.0 continues to serve as the basis for many of the web apps we use today. Is it conceivable that Web 3.0 will change the well-known applications that users utilize today?


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