Whether you’re a tech-geek or someone with no background in the technology world, the chances are high that in recent times you must have encountered the terms such as blockchain, cryptocurrency, NFTs. All of these ‘’Buzzwords'’ are related to what we call the newest version of the internet: Web 3.0
People from all over the world have a varied take on this new technology, some believe that it is the future while others feel it’s just a fad.
If you’re a millennial, you probably remember the first version of the internet: Web 1.0. It was just a ‘read-only web’ as quoted by English computer scientist Tim Berner-Lee.
Later on, from the early 2000s till the present, people are using the Web 2.0 version of the internet, which has ‘read-write’ capabilities. The content became user responsive where users could contribute content and interact with other users. It was Web 2.0 which gave a massive rise to social media and content creation.
Now, as many people believe, comes Web 3.0: The newest version of the internet.
In reference to the previous context, Web 3.0 is the version of the internet that doesn’t only interact with users' data and information, it also allows users to own a portion of the internet. It is the ‘read-write-own’ version. Ownership is orchestrated and regulated by tokens and cryptocurrencies.
Web 3.0 is designed in a decentralized manner which makes it highly secure in terms of data privacy. It is backed by a blockchain security system that keeps user information secure.
Web 2.0 indeed changed the lives of mankind forever. People had such a powerful tool, which was never even imaginable in the past. It gave users the power to interact with anyone sitting in a completely different part of the world. However, it does have some shortcomings and drawbacks.
Let’s take a look at how Web 3.0 solves the shortcomings of Web 2.0!
|Web 2.0||Web 3.0|
|‘Read-Write’ version of the internet - Information is taken away from the user.||‘Read-Write-Own’ version of the internet - Allows users to own a part of the internet in the form of tokens and cryptocurrencies.|
|Organization Focused - In this version, personal information and data of the user are stored in databases of big organizations to fuel their business.||Individual focused - Users get the ownership of their data. Focuses on the trust of the users. |
Example: You are the owner of the content you publish on Web 3.0. Your content is your digital asset, and you must secure it.
|Centralized - Control is with an individual authority. They have complete access to user data.||Decentralized - Web 3.0 is blockchain-backed which makes it decentralized. No single entity can have control over it, and all the intermediaries are eliminated.|
|Very limited use of Artificial intelligence.||Significantly powered by artificial intelligence for faster and accurate results.|
|Doesn’t offer much visually engaging experience (VR/AR) to the users.||Developments in the metaverse, 3D-NFTs will fade away the boundaries between physical and virtual worlds. Users can have a more engaging web experience.|
|Multiple profiles are needed for different platforms as it is centralized by different entities.||Users only need to create one profile, which can be used for different platforms.|
We are in a world where users appreciate the privacy and security of their information. It is evident that Web 2.0 has certain flaws and drawbacks, which have been resolved by the-new-internet - Web 3.0.
Web 3.0 will revolutionize the internet experience by improving privacy and security with a more enhanced visually engaging web experience. It allows the users to have complete ownership of their data, which is possible because of blockchain technology.
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