Introduction of Web 3.0
Consider a new type of internet that understands what you input, not just reads it, but also hears your thoughts, one that offers personalized content based on what you say, whether it is text, voice, or otherwise. The web is on the brink of entering a new era. And some call it Web 3.0. With Web 3.0, human and machine interaction will be fundamentally expanded far beyond what we currently envision.
So what is web 3.0 & crypto? How will Web 3.0 affect our lives? and how will it change the way we do things? To understand this let’s move forward and dig deeper!
What is web 3.0?
We can expand the definition of Web 3.0 as: data will be interconnected in a decentralized way, which would be a step forward from the current state of the internet (Web 2.0), which is based on centralized repositories. To accomplish this, programs will need to comprehend information conceptually and contextually. With these considerations in mind, semantic web and artificial intelligence (AI) are cornerstones of Web 3.0.
Why is it important?
A traditional tool (Web 1.0 and 2.0) makes searches match the word-for-word content of the text with what is published on the internet. In other words, it creates information bias of the information that is most abundant, and, accordingly, it does not bring the content that is most relevant to the user.
In contrast, Web 3.0 systems seek contextualized knowledge to assist people through their jobs, through a series of analyses and possibly helpful information. Below are some reasons to help you understand why web 3.0 is significant:
More data can be shared between humans, enterprises, and machines with greater security & privacy
By virtually eradicating platform dependency risks, we can future-proof entrepreneurial & investment activities
By using a provable digital scarcity of data and tokenized digital assets, we can own our data & digital footprints
Web 3.0 Examples
Examples of software that uses Web 3.0 technologies include Siri and Wolfram Alpha. Wolfram Alpha and Apple’s Siri are Web 3.0 applications that can summarise vast amounts of information into useful knowledge.
Wolfram Alpha- Wolfram Alpha is a “computational knowledge engine” that provides you with answers directly through computation rather than listing links to websites, as search engines do. Try searching “England vs Brazil” on Wolfram Alpha and Google and see the difference.
Siri– Siri is capable of performing complex and personalized commands using voice recognition and artificial intelligence such as: “Where is the nearest restaurant?” or “Book an appointment at 11 a.m.” and immediately come up with the correct information or action.
Web 3.0 and Cryptocurrency
We all have been hearing about web 3.0 crypto. What is web 3.0 crypto? Using blockchain technology underneath bitcoin and other cryptocurrencies, Web 3.0, the next web platform, aims to eliminate all big intermediaries, such as centralized governing bodies and repositories. Essentially, you won’t need to have an account on every social network. A new wave of Web 3.0 will extend far beyond the use case of cryptocurrency. Web 3.0 will enable people, businesses, and machines to cryptographically communicate. And will include efficient machine learning algorithms to create fundamentally new markets based upon the richness of interactions now available and the global scale of counterparties.
According to reports, Ethereum might be the most popular Web 3.0 blockchain due to its ability to help developers create dApps. In addition to Polkadot, Helium, Kusama, and others, there are crypto projects already at work to enhance Web 3.0. A Web 3.0 integration with the metaverse will make it easier to trade non-fungible tokens, which represent ownership of a virtual good, using cryptocurrencies.
In this current era, the Web is beginning to provide more knowledge and action capacity for its users, resulting in significant changes in many aspects of daily life. It is thought that this new type of Web is moving quickly towards a more dynamic and fast-changing environment, where the democratization of action and knowledge has the potential to accelerate business operations in almost every area.
Web 3.0 is affecting a wide variety of domains, including retail to applied molecular medicine, from micro-businesses to large corporations.