What is Web 3.0 & How it will be change the Internet ?

Web 3.0 has no perfect definition at all. There are just properties widely considered to be in Web 3.0. It is expected to solve all the problems that we are currently facing in web 2.0. Furthermore, it aims to revolutionize the way we use the Internet.

Some of the properties of Web 3.0 will be :
-decentralized
-transparent,
-Permissionless,
- self-governing with no central authority
-tamper-proof.
-The Semantic web will also be a great part of Web 3.0. The idea behind the semantic web is using A.I and machine learning to interact with data. It would help in finding results through the meaning of words rather than words or numbers. Which is currently the model of Web 2.0.Semantic will play a huge role how the data is shared and handled and involves A.I and DAOs.

Let me explain !! Do not go away now !

I know these are a lot of terminologies but let me explain web 2.0 and web 1.0 first because to fully understand the application of web 3.0 we have to go through a bit of the history of the web.

The first version of the Internet was called Web 1.0. It was known as the read-only Internet. We could only read web a bunch of static sites and that’s it.That was all of the Internet.It’s boring right ?

After 2004, the web pages began to change and evolve into interactive web pages. Companies like Friendster, Facebook, MySpace, and Youtube lead the web 2.0 . Where users could upload content interact with it. Everyone could register themselves on a website and communicate with others.Web 2.0 convinced consumers to trust Internet and come out of dark ages.Businesses in web 2.0 would now need a website more than ever to run profitability. Amazon-like companies connected the Internet with online shopping and we are still seeing innovations and disrupting ideas in Web 2.0 . Web 2.0 introduced us to technologies like Javascript and CSS.
We are currently in Web 2.0 state and it is still growing.

The problems with web 2.0

With users interacting to an extent it became a major part of our daily lives. Billions of users upload their content to websites, expressing themselves and uploading pictures of their daily lives. The centralized architecture of the system allows the companies to collect data and sell it to advertisers. The companies also make a monopoly and are highly anti-privacy. Also the data could land in bad hands.This is a major concern as privacy is basic human right !

Web 2.0 is also barred with financial limitations. Mostly the western world can participate which leaves undeveloped countries behind.

Moreover, the companies are not transparent and to a certain extent, some companies are used as a political weapon. Taking Facebook as an example, Facebook leaked details of 533 million users and also is claimed by Human Rights to suppress Palestinians voices on their platform. In web 2.0 you do not have any control over privacy of your data.

Financially, you need to depend on major monopolies for the financial part of your business. Apple takes 30 percent of your’s app digital in-app purchases ans so does Google’s Play Store.Imagine 30 percent of your profit blown away and getting into hands of major tech giants.

PayPal and Skrill are is major financial companies.They take a hefty percentage of transaction and had a huge costs attached. Also, you depend on them,which is not a really smart thing to do.

How the web 3.0 have solutions?

You must be thinking how the Web 3.0 have the solutions and how the architecture allows for further development and innovation .

Web 2.0 has become so much controlled and centralized giving power to a few companies even governments do not have!

Web3.0 model is considered to decentralized and is permissionless and autonomous. Let me explain, assuming I have a company or an idea and I need to get some finance to run the company or fund my idea.

I go to a bank for loan , run a campaign or could go Venture capitalist firm or make my company public to get funded.It requires lot of legal work, effort and money.Also there could be many restrictions or regulations on my project. A person from an undeveloped country would not be able to invest in my project or company easily due to payment restrictions.

They are an obstacle right now. With Web 3.0, I might do an IFO or ICO to raise funds for my idea and people from around the world can have a stake in my project. Even a person from an undeveloped nation with an only Internet connection and some finance can have a stake in the company and how it runs. The trend to create an ICO and IFO is growing even more. People are shifting to decentralized architecture pretty quickly than expected.

Let me give you more examples, Robinhood a really big exchange stopped users from buying a certain share when it was booming up. This affected a lot of people, who lost a considerable amount from this interference in the market.
With DeFi, it is the opposite! There are many decentralized exchanges now like UNISWAP that are not controlled by a single entity but controlled by a consensus mechanism.These applications are called DAOs and fall into category of DeFi(Decentralized Finance).

The DeFi is transparent and decentralized that solves a lot of problems that we are currently facing.

Sending payments in Web 3.0 is a seamless experience! You can initiate transactions from any part of the world and it will go through. It does not matter whether you belong from a underdeveloped country or a developed one.Ethereum for example a cryptocurrency, I can send it to my friends without any third party interference.

Web 3.0 model is considered to be on the blockchain which is tamper-proof and can not be hacked too.

Moreover, sites like Youtube might be replaced by projects like Odysee. Which is peer to peer blockchain based platform.Which does not work on a traditional server and does not have Web 2.0 business data model. It stores data in peer to peer , torrent like fashion.

There are many great projects like that are working Web 3.0 model.

I have some listed them below :

• Brave browser
• Steemit ( A social network)
• eChat (messaging)
• Riot( messaging)
• Ethereum ( a platform for deploying Dapps)
• Odysee ( content viewing website )
• UniSwap( a decentralized exchange)
• Cardano ( a platform for deploying Dapps)
• Solana ( a platform for deploying Dapps)
• Youtube has rivals like Flixo, Vidcon .
• There is a music network, Myceli which is really great and let content creators benifit.
• File Storage there is file coin and the list goes on and on.

How & when we will transition to Web 3.0 ?

It is expected that the decentralized applications will outgrow and out perform the web 2.0 applications. And the users will gradually, shift to newer applications seeing the advantages.

There is no appointed time where we can say the web has totally transitioned to Web 3.0.What we can say that by the statistics that possibility of it is advent is inevitable.

It is even believed that the Web 3.0 might play a role as big as the industrial revolution played in the advancement of human society. It is basically wiping out the bad factors in the industry.

Get your seat belts ready and brace for the impact !

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