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Web 3.0
Web 3.0 refers to the next generation of the internet, in which websites and apps will be able to handle data in a clever human-like manner using technologies such as machine learning (ML), Big Data, and decentralized ledger technology (DLT), among others. Tim Berners-Lee, the inventor of the World Wide Web, dubbed Web 3.0 the Semantic Web, with the goal of creating a more autonomous, intelligent, and open internet.
What is Web 3.0?
Data will be interconnected in a decentralized form, which would be a big leap ahead from our present generation of the internet (Web 2.0), where data is largely housed in centralized repositories.
Users and machines will be able to engage with data as well. However, programs must be able to comprehend information both conceptually and culturally in order for this to happen. With this in mind, the semantic web and artificial intelligence are the two cornerstones of Web 3.0. (AI).
What are the main differences between Web 3.0 and Web 2.0?
There are a few fundamental differences between Web 2.0 and Web 3.0, but both emphasize decentralization. Apps that run on a single server or store data in a single database are rarely created and deployed by Web 3.0 developers (usually hosted on and managed by a single cloud provider).
Web 3.0 apps, on the other hand, are built on blockchains, decentralized networks of many peer-to-peer nodes (servers), or a combination of the two. Decentralized apps (DApps) are the name given to these programs. Participants in the network (developers) are rewarded for providing high-quality services in order to create a robust and secure decentralized network.
How does Web 3.0 work with cryptocurrencies?
We may expect a strong convergence and symbiotic interaction between these technologies and other disciplines since Web 3.0 networks will run through decentralized protocols - the founding blocks of blockchain and cryptocurrency technology.
They will be interoperable, seamlessly integrated, automated by smart contracts, and used to power everything from micro transactions in Africa to censorship-resistant P2P data file storage and sharing through applications like Filecoin, to entirely transforming how businesses conduct and operate. The present flurry of DeFi protocols is only the beginning.
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