Cryptocurrency, NFTs, Metaverse, and now Web 3.0. The 21st century has proved itself to be dynamic and fast-paced in every sense of the word. Just as the buzz for something new dies down, another revolutionary idea pops up. So, in this article, we’ll be covering all the hype around Web 3.0 and try to clear all your queries related to it. What is web 3.0? Is it safe? How does it work? Will it revolutionize the internet? And many more such questions shall be answered. But, before we get into the details of Web 3.0, it is important to understand what we mean by the World Wide Web (www) and its earlier two versions. So, it’s time to take a dive into history and come out in the future!
History of WWW
As most of us know, www stands for world wide web and it is usually the prefix of most websites such as www.techburner.in. The first iteration of the internet, back in 1994, was almost like a newspaper. There were only static web pages with no interaction and animations. It was simply reading information off a screen. This was Web 1.0.
But, in 2004, the second iteration of the internet came into the picture which was Web 2.0. Here, the internet became a two-way communication tool. The current version of the internet has been taken by storm via social media apps such as Instagram, Facebook and Twitter. It is also mostly dominated by a collective group of tech giants such as Apple, Microsoft, Google and Amazon.
What is Web 3.0?
Web 3.0 is the third version of the internet, also known as the decentralized web. It is said to be much more enhanced than the internet as we know it today, that is, web 2.0. There are a lot of privacy issues with the internet we use today such as user identity and location tracking to name a few. Also, any content we post on social media is subject to strict regulations and is wholly owned and controlled by the platform and not the ultimate creator. That is not the case with Web 3.0.
Web 3.0 is not dominated by a pool of companies or persons. It is entirely independent and is purely user-specific where people have control over their data and content. Also, it is much more secure and transparent in order to ensure privacy.
What is The Technology Used Behind Web 3.0?
Web 3.0 is being built on blockchain, the same technology that cryptocurrency and NFTs are built upon. It is basically a decentralized electronic ledger that holds digital records of asset ownership without the need of any central authority.
To put it into simple words, blockchain eliminates the need for intermediaries thereby making the technology much faster, secure and difficult to tamper with. It is also said to promise peer-to-peer internet connectivity that boosts speeds much higher than the previous generation of the internet.
Will Web 3.0 Revolutionize The Internet?
Yes and no. Right now, we cannot classify it in terms of right and wrong. The technology is still in its initial stage of development. But yes, it does sound promising. Although there’s a different school of thought to it as well. Famous personalities such as SpaceX founder Elon Musk and Jack Dorsey, co-founder of Twitter, have expressed their concerns over the same.
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