According to the newest buzz, the Web 3.0 age has arrived. Other names include Web3 or Web 3.0, the spatial web, or the decentralized Internet, which is part of the difficulty. It is difficult to create a handbook on something that has not yet been defined, especially when the subject is rather politicized and contentious.
In any event, we will talk about it a lot more in the next months and years, so consider this a guide to the early stages of a notion that we will update as it takes root.
We found ourselves in a new world in the 1990s, when individuals began to utilize the Internet in large numbers. Web 3.0 writers depict the initial phase, now commonly referred to as Web 1.0, as a decentralized arena in which huge corporations did not dominate. Furthermore, as a location where open protocols provided access to the core structure of the web and where users could be anonymous, websites were static and consumption passive.
We read as many web pages as we could! It was a period when a technology-oriented digital magazine concentrated on persuading consumers to connect through service providers like AOL and Yahoo and socialize through browsers. Web 1.0 is commonly associated with the 1990s and 2000s (or mid-20th century).
The current phase of Web 2.0 concentrates on user-generated content and active involvement. Social networks arose to make the Internet more immersive and accessible, powered by cellphones and the cloud.
People are beginning to spend significantly more time online, generating content and exchanging data for platform access. With the advent of today’s most well-known Internet businesses, such as Amazon, Facebook, Google, eBay, and Twitter, the commercial ramifications became more evident, and we witnessed a shift toward centralization if data is considered a commodity.
According to technological analysts, if Web 1.0 was the read phase and Web 2.0 was the read-write phase, Web 3.0 will be the network’s thread-write-ownership phase. Web 3.0 reimagines the Internet with a whole new infrastructure and a return to decentralization and autonomy.
According to people’s feelings, the web, its platforms, apps, and structures will be created on decentralized technologies such as blockchains, cryptocurrencies, and non-fungible tokens in this next version of the Internet (NFTs).
Because public blockchains are open and collaborative, these use cases will be transparent, democratic, and jointly owned by individuals rather than monopolies or intermediaries such as banks, newspapers, network platforms, social media, etc.
The user, not the corporations, will own the data and flow across the blockchains. Smart contracts will control platforms and apps collectively, allowing users to hold shares, govern, and build enterprises in Web 3.0.
Because of its tamper-proof nature, openness, and validation processes, blockchain technology suggests that the web would have natural trustworthiness. Web3 cannot be eliminated or blocked. And its economic foundation would be decentralized, utilizing cryptocurrencies and NFTs.
You’re not wrong if you think this sounds like a technological utopia. Ultimately, Web3 is a new vision driven by the ideals of a fairer web future. Because of that, a lot of people are excited about this idea, for what it is and what it will be. However, some do not believe that any of this will happen.
Currently, the situation is too ambiguous to suggest specific digital strategies for a future web that has yet to be realized. Observe what’s happening and prepare for a shift to a decentralized infrastructure that will not happen overnight.