What Is Web 3.0? Web3 Exciting Facts & Technologies

To understand Web 3.0 (also known as web3) let’s have a short introduction to Web 1.0 and Web 2.0.

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Web 1.0

If I have to describe Web3 or Web 3.0 in one word that is Decartelized. Web3 is an idea of the modern era internet (World Wide Web) based on Blockchain technology. The basic version of the internet when stated from its origin DARPA (Defense Advanced Research Project Agency). In short internet of the early day when it was in the development process is considered Web 1.0 or internet 1.0.

Web 1.0 was read-only or one-way internet. It was mostly used for information and research purposes. Web 1.0 was not interactive as the internet today.

Web 2.0

The internet we are using today (21st century) is known as Web 2.0. Web 2.0 is two-way internet, more usable and more interactive as compared to Web1. Web 2.0 is the internet of the 21st century and it already has revolutionized our lives. Twitter, Facebook, WordPress, and Wikipedia are some examples of modern internet 2.0.

Web 3.0

Today’s internet, technologies, and other web-based services are controlled by governments or big companies.

The idea behind Web 3.0 is that no one will be able to control it. Because Web3 will be based on public Blockchain. It means that everyone who will contribute to it will own a certain part of it and everything will be recorded in the form of a ledger distributed around the world.

Technology experts believe that no one can manipulate web3 as everything will be on a public Blockchain and will be shared across the network in the form of a ledger.

Web 3.0 Definition

There is no universally accepted true definition of web3. Web3 is considered as the evaluation of the World Wide Web that integrates everything from AI (Artificial Intelligence) to AR (Augmented Reality) and from machine learning to Blockchain.

Exciting Facts about Web 3.0.

In today’s internet Non-Fungible Tokens (NFTs), Metaverse, cryptocurrencies, and Torrent p2p networks are examples of Web3.

1. Web3 projects are mostly made of open source software, software that is openly available for the public to contribute and review.

2. Users can interact with web3 projects in both ways privately and publically.

3. No permissions are required to send and receive data

4. It promises to make the internet available for everyone, anywhere, and anytime.

5. Web3 formerly known as Semantic Web became popular when the Ethereum cofounder Gavin Wood used it for the first time in 2014. And explained his vision of Web3.

Benefits of Web 3.0

1. Transparency

Transparency is the main goal of Web3 which means users can keep track of their data and can own their data until they want. In this way, users will be less dependent on large organizations.

2. Decentralized Hassle-free environment

Decentralized data centers will be used with multiple backups. This environment will stop large corporate organizations from controlling your data according to their own benefit.

3. Single Profile.

Ideally, Web3 allows its users to have one profile for multiple platforms. And it lets users share and sell their that according to their own choice.

4. Privacy and Data Control.

Users’ data will be encrypted which means they can own shares of their data even after selling to get more benefits in the future. In short, everything will be in individual control rather than organizational control.

Critics of Web 3.0

Yes, as everything has its pros and cons so Web3 is not free of controversies.

Some critics say that this so-called decentralized internet will be more dangerous than the centralized and controlled internet of today.

Critics raised concerns that this modern internet has no central authority so it will cause harmful content proliferation and it may promote the centralization of wealth to evil individuals and investors. Some experts believe that loss of privacy and data is highly likely due to expensive data collection.

Jack Dorsey and Elon Musk also criticized web3 as it’s just a buzzword.