What is Web 3.0 – it’s  Key Features and Applications

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What is Web 3.0 - it's  Key Features and Applications
What is Web 3.0 - it's  Key Features and Applications

Visualize a new type of internet that can not only interpret exactly what you type, but actually understand everything you communicate via text, voice or other media, and everything you consume is more appropriate than ever. We are at the turning point of a new phase in the development of the Internet. Some early pioneers called it Web 3.0.

Some early Web 3.0 applications may already exist today. The first phase of Web 1.0, or the World Wide Web, began in the 1990s when the internet boom made it easier for people to access information. However, this information is largely disorganized and difficult to navigate. Google and MSN entered Web 2.0 in the late 1990s, bringing order to chaos, categorizing information and presenting it in an organized manner. They help rank search results by popularity. The beginning of this era allowed for easier sharing of information with others via the Internet. However, this has led to a gradual shift of power into the hands of a few big corporations.

In this article, we will explore what Web 3.0 is – it’s Key Features, and it’s advantages and disadvantages.

What is Web 3.0

Web 3.0 is the next stage in the evolution of the web that will make the internet smarter or process information with intelligence approaching that of humans through the power of artificial intelligence systems running intelligent programs to help users.

Tim Berners-Lee has said that the Semantic Web is designed to interact “automatically” with systems, people, and household devices. Therefore, humans and machines are involved in the content creation and decision-making process. This means that intelligently created and highly individualized content can be distributed directly to every Internet user.

Key features of Web 3.0

Although there is currently no standardized definition of Web 3.0, it does have some defining characteristics:

  • Decentralization: This is the core principle of Web 3.0. In Web 2.0, computers use HTTP in the form of unique URLs to find information stored in a fixed location, typically a single server. Since information on Web 3.0 can be found based on its content, it can be stored in several places at the same time, i.e. it is decentralized. This would disrupt the vast databases currently held by internet giants like Facebook (now Meta) and Google and prevent them from being overly enriched by giving users more control. With Web 3.0, data generated by disparate and increasingly powerful computing resources such as cell phones, desktops, devices, vehicles, and sensors is sold by users over a decentralized data network, ensuring users remain in control of ownership.
  • Trustless and Permissionless: In addition to being decentralized and based on open source software, Web 3.0 is also trustless (meaning the network allows participants to interact directly without going through a trusted intermediary) and permissionless (meaning that anyone can participate without authorization). ) of the Governing Body). Therefore, Web 3.0 applications run on blockchains or decentralized peer-to-peer networks or a combination of these – such decentralized applications are referred to as dApps.
  • Artificial Intelligence (AI) and Machine Learning: In Web 3.0, computers will be able to understand information like humans through technologies based on Semantic Web concepts and natural language processing. Web 3.0 will also use machine learning, a branch of artificial intelligence (AI) that uses data and algorithms to mimic how humans learn and incrementally improve their accuracy. These capabilities will allow computers to produce faster and more relevant results in many areas, including drug development and new materials, rather than just the targeted advertising that accounts for much of current efforts.
  • Connectivity and Ubiquity: With Web 3.0, information and content is more connected and ubiquitous, accessible to multiple applications, and more everyday devices are connected to networks – like the Internet of Things.

Web 3.0 Applications

A common requirement for Web 3.0 applications is the ability to digest large amounts of information and convert it into factual knowledge and action useful to users. However, these applications are still in their early stages, which means they have a lot of room for improvement and are far from the potential capabilities of Web 3.0 applications.

Companies like Amazon, Apple and Google build or have products that turn them into Internet 3.0 applications. Two examples of applications that use Web 3.0 technologies are Siri and Wolfram Alpha.

Siri

Over the years, Apple’s voice-controlled AI assistant has gotten smarter and expanded its capabilities since it first appeared in the iPhone 4S models. Siri uses speech recognition and artificial intelligence to execute complex and personalized commands.

Today, Siri and other AI assistants like Amazon’s Alexa and Samsung’s Bixby can understand requests like “Where’s the nearest burger joint” or “Make an appointment with Sasha Marshall tomorrow at 8:00 am” and immediately provide the right information or take action.

Wolfram Alpha

Wolfram Alpha is a “computational knowledge engine” that answers your questions directly by computer instead of giving you a list of websites like a search engine. If you want an actual comparison, search Wolfram Alpha and Google for “England vs Brazil” and see the differences.

Even if you don’t have “soccer” as a keyword, Google will return results for the World Cup because it’s the most popular search. Alpha, on the other hand, will provide you with a detailed comparison of the two countries, as you requested. This is the main difference between Web 2.0 and 3.0.

Advantages and Disadvantages of Web 3.0

Web 3.0 has the potential to offer users greater value for most Web 2.0 applications used by consumers, well beyond social media, streaming and online shopping. Features at the heart of Web 3.0, such as the Semantic Web, artificial intelligence and machine learning, have the potential to dramatically expand applications into new areas and vastly improve user interactions.

Core Web 3.0 features, such as decentralization and permissionless systems, will also give users greater control over their personal information. This could help limit the practice of data extraction – which refers to information collected from web users without their consent or compensation – and curb the network effects that have turned tech giants into monopolists through exploitative advertising and marketing practices.

However, decentralization also entails significant legal and regulatory risks. Cybercrime, hate speech and misinformation are already difficult to monitor and become even more difficult in a decentralized structure due to the lack of central control. Decentralized networks can also make regulation and enforcement very difficult.

Conclusion

The new Internet offers a more personal and customized browsing experience, a smarter, easier-to-use search assistant, and other decentralized benefits that will hopefully help create a fairer web. This will be achieved by empowering each user to be sovereign of their data and will create a richer overall experience through the myriad innovations that will emerge post-launch.

When Web 3.0 inevitably takes hold – hard to imagine given how smart devices have changed the way we behave – the Internet will become exponentially more integrated into our daily lives.

We will see that almost every machine that is normally offline today, from household appliances such as ovens, vacuum cleaners and refrigerators to all kinds of means of transport, becomes part of the IoT economy, interacting with its autonomous servers and decentralized applications (DApps) and driving new digital realms such as blockchain and digital assets powering myriad new technological “wonders” of the 21st century.