Understanding Web 3.0
Web 3.0 is known as decentralized Internet and is also referred to as the third version of the internet.
Currently, we are using Web 2.0 which is the second version of the Internet. The most main problem over here is that the user is giving away his data for free in exchange for services. Hence, you don’t own your data once it is used for the sake of personalization.
Your data is later used by advertising agencies to provide you with the best advertisement possible according to your interests and engagement.
It is not illegal to use your data as you have given Web 2.0 permission to use your data for personalization and interest-based advertisement recommendation. Therefore, we can’t blame them for using our data if we have given them permission to use our data.
Currently, Google, YouTube, and Facebook are the most visited websites by users with more than 100 billion views in 2021.
Chart from the author referring to Statista
So to be quite precise the major websites are running the internet without any second thoughts. On the counter hand, agencies have the rights to block any website or application in specific regions. Hence, they can also block someone from using services.
There are multiple leaders currently in Web 2.0 controlling different aspects of the internet and blocking different applications in different regions. Sometimes they also control your payment transactions and can block you from purchasing something.
What’s Next Then?
Web 3.0 is a third version of the internet that is completely decentralized. No one owns the internet in Web 3.0 and no one can block anyone from using Web 3.0. Hence, anyone with an internet connection can use Web 3.0 and make any transaction without needing permission from central authorities.
To simplify this you will never the line “This service is blocked in your region” on Web 3.0 because no one has the rights to block a region or its people from using services on Web 3.0 because everything is decentralized.
Web 3.0 will have everything decentralized with no ruler or centralized body taking decisions for a specific region. It will take interactivity between the internet and human beings to the next level.
So the third generation of the internet is completely open and permission-less. Web 3.0 runs on the blockchain which makes it immutable.
Layers of Web3.0 from author
Blockchain is the technology in which a record of information is stored in blocks that are distributed over a wide network and make it nearly impossible to change or temper the data. It is a chain of blocks that have lots of identical copies stored on many systems.
Hence, changing or hacking any block in blockchain becomes impossible because no one on this planet has such computational power to change or temper the data. Every block has a unique identity called Hash.
Whenever a block is created a unique hash is created and if someone tempers the data then the hash is changed again which discards the entire copy of that blockchain. There are many copies stored on different networks hence discarding one won’t cause an issue in blockchain and real blockchain remains safe and secure.
More Words on Web 3.0
In Web 3.0 websites and applications are deployed on many systems. Hence, it doesn’t rely on a single cloud platform. Having powerful blockchain technology backing Web 3.0 it truly becomes the most powerful internet technology ever.
It completely works on a decentralized network that contains peer-to-peer nodes. Any payments transaction in Web 3.0 doesn’t require your personal information making it secure. It is completely reliable and transparent to everyone.
There is no one controlling Web 3.0 which makes it self-governing.
Web 3.0 enhances computing power and decentralization to the next level which makes it completely secure. There are very few chances of Web 3.0 crashing or going down as it works on the blockchain which uses peer-to-peer node technology.
All the payments systems in Web 3.0 are replaced from traditional centralized payments to decentralized payments such as Ethereum, Bitcoin, USDT(Tether which stays stable and resembles its value to $1)
Web 3.0 is a really promising technology that will provide security and reliability to its users.
We should also consider the fact that Web 3.0 is still in its very early development stage and hence it is currently not preferred by wide audiences. This is due to many reasons from which the main reason can be unawareness.
Apart from being secure Web 3.0 also gives wide connectivity due to decentralization.
Transitioning from Web 2.0 to Web 3.0 will take time and no one exactly knows when this transition will entirely be possible for a huge audience. Web 3.0 will give power to everyone to decide and use the internet making it open to everyone.
This article should not be considered as financial or legal advice. Please note that this article is only for knowledge purposes and to create awareness.