In the last few times, you may have seen a term that is gaining popularity called Web 3.0. You may be wondering about the meaning behind it and what it could mean in the near future, and what exactly the third-generation Internet differs from the previous two. As we move into the future, we will encounter a need to develop a secure trust system for interaction. Web 3.0 is a fresh take on the kinds of things we utilize the internet for, but using fundamentally different models for the interaction between different parties. Web 3.0 will be the next version of internet technology that is based upon artificial intelligence, block chain technology as well as machine learning. Its goal is to build an internet that is decentralized, with open and intelligent, connected websites and web-based apps.
Web 3.0 is a term coined by Polkadot creator along with Ethereum co-founder Gavin Wood in 2014. The idea behind Web3 is a decentralized online community based upon block chain. Although Web 2.0 focuses on interactive websites and user-generated content hosted on central sites, Web3 can give users greater control with regard to their data online.
Advantages of the Web 3.0
Here are some advantages of Web 3.0:
-
Data Ownership
With Web 2.0, tech giants manage and use user-generated data. With block-chain powered web 3.0, users are able to take complete ownership of their data by using it. You can decide what data you would like to provide to businesses as well as advertising firms and earn profit from it.
Furthermore, Web will not be solely controlled by a single entity. This means that decentralized applications (dApps) are not blocked or restricted.
-
Fewer Intermediaries
Web 3.0 will enable different companies to communicate directly with their clients. There will be few or any central authorities that get a portion of the profits generated by electronic transactions. Even though the necessity for appropriate regulations and rules to control fairness will be present, we’ll see an increase in trust and decentralized networks rather than centralized institutions.
-
Transparency
The decentralized web will allow users to monitor their information and review their source codes of any platforms they choose to use. Every stakeholder will know the importance and the commerce they’re associated with. It is not necessary to depend on a middleman to gain access to this information.
-
Personalized Web Surfing Experience
It will provide users with a more personal internet browsing experience because websites will recognize our preferences. Web applications monitor our online use and habits, and then tailor their experience to best suit our device, location, and so on.
-
Services are uninterrupted
In Web 3.0, the data will be saved in distributed servers. Therefore, users will not be required to consider the possibility of suspending a specific account or interrupting service because of technical or other causes.
-
Better Marketing
Utilizing AI-powered Web3 sellers will be able to understand the buyer’s needs. They can present those products and services to those who are interested in purchasing. The buyers will see more relevant and relevant ads.
Disadvantages of Web 3.0
Let’s look at some of the negatives as well as limitations to Web 3.0:
- Different technologies like block chain technology, AI machine learning, or block chain make up Web3. It is based on 3D graphics, semantic data as well as others. It is likely that less sophisticated devices are not capable of handling Web3. Users will require an item with above-average specifications to be able to utilize Web3.
- It might be difficult to comprehend for those who are new.
- It is difficult to regulate: A few experts think that decentralization could cause problems in controlling and monitoring Web3. In the end, we may see an increase in cybercrimes.
- Web 1.0 websites appear to be older.
- Easy access to the user’s private and public information: Web3 is huge and interconnected, and that’s the reason it is much easier for anyone to access your private and public information that you upload online.
- Existing websites will require an upgrade. When Web3-based applications and websites are gaining popularity, pressure will increase on enterprises to upgrade. They’ll be under pressure to update their online offerings to ensure they don’t lose their market.
Share this blog on:
