Web 3.0 also called Web3 is the next big thing for the internet. According to mckinsey.com, Web3 is a “term used to describe the next iteration of the internet, built on blockchain technology and is communally controlled by its users.”
Gavin Wood, a computer scientist coined the term Web3.
The journey to Web 3.0 started with the advent of Web 1.0. According to Simplilearn, Web 1.0 was launched in 1994. The Web 1.0 was “a non-interactive, read-only content technology, and was like a huge Wikipedia.” After 10 years into the use of Web 1.0, Web 2.0 was launched, that was in 2004. Web 2.0 “made the internet much more interactive because of developments in web technologies, such as Javascript, HTML5 and CSS3.” Big Tech companies deployed Web2 technologies to create platforms like Facebook, YouTube, and others.
One of the differences between Web3 and Web2 is internet users’ control of Web3. Another is Web3 has Artificial Intelligence (AI) and Blockchain technology, as its foundation. Web3 is also permissionless. An example of a Web3 internet app is ‘Sirri.’
The four key features of Web3 are Decentralization; Trustful and Permissionless; Artificial Intelligence and Machine Learning, and Connectivity and Ubiquity.
1. Web 3.0 is decentralized and democratized
Web3 is about giving power back to the people, and not being manipulated.
Web 3.0 is decentralized and democratized, marking a pronounced departure from the traditional, centralized web. This new iteration of the internet is built on blockchain technology, allowing for peer-to-peer transactions and interactions without intermediaries. As a result, individuals have greater control over their online presence, data, and identity, promoting a more inclusive and democratic online community. By decentralizing power and decision-making, Web 3.0 enables a more open, transparent, and community-driven internet.
2. Web 3.0 is blockchain-based
Web3 uses blockchain technology to ensure security, transparency, and accountability.
Web 3.0 is fundamentally blockchain-based, leveraging the secure, transparent, and decentralized nature of blockchain technology to revolutionize the internet. By utilizing blockchain, Web 3.0 enables the creation of a trustless, peer-to-peer network where data is stored and transmitted securely, without the need for intermediaries. This blockchain-based infrastructure provides a foundation for decentralized applications (dApps), non-fungible tokens (NFTs), and other innovative technologies that are transforming the way we interact with the internet.
3. Web 3.0 is AI-powered
Web3 leverages artificial intelligence (AI) to create more personalized and immersive experiences online.
Web 3.0 is AI-powered, harnessing the capabilities of artificial intelligence to create a more intelligent, intuitive, and personalized internet experience. By integrating AI technologies like machine learning, natural language processing, and computer vision, Web 3.0 enables the development of sophisticated applications that can analyze vast amounts of data, learn from user behavior, and adapt to individual preferences. This AI-driven infrastructure empowers the creation of intelligent chatbots, personalized content curation, and predictive analytics, revolutionizing the way we interact with the internet and each other.
4. Web 3.0 is AR and VR integrated
Web3 brings augmented reality (AR) and virtual reality (VR) to the forefront of online interaction.
Web 3.0 seamlessly integrates augmented reality (AR) and virtual reality (VR), blurring the lines between the physical and digital worlds. This immersive and interactive infrastructure enables users to engage with online content in entirely new ways, from virtual try-ons and 3D product demonstrations to immersive gaming and interactive storytelling. By leveraging AR and VR technologies, Web 3.0 creates a more experiential and memorable internet experience, revolutionizing industries such as e-commerce, education, and entertainment, and redefining the future of online interaction.
5. Web 3.0 is Community-driven
Web3 is about building and empowering online communities.
Web 3.0 is community-driven, empowering users to take an active role in shaping the Internet experience. Unlike traditional, centralized platforms, Web 3.0 is built on decentralized networks that allow users to contribute, participate, and govern the online ecosystem. This community-driven approach enables the creation of open-source projects, decentralized autonomous organizations (DAOs), and social networks that are owned and controlled by their users. By putting the power in the hands of the community, Web 3.0 fosters a more collaborative, inclusive, and resilient internet that benefits everyone.