General

Web 3.0 Crypto Browsing: Everything You Should Know

Web 3.0 is the latest digital innovation that is geared at breaking the monopolistic power of governments and large corporations. According to wired definition, Web 3.0 is a decentralized digital ecosystem that is based on blockchain technology. Therefore, every application and platform built on web 3.0 will not be solely controlled by a centralized entity.

Difference Between Web 1.0, Web 2.0, And Web 3.0

To assess the difference between these three web generations, let’s have a critical look into each of them.

Web 1.0 (1989–2004)

The world wide web (www) was invented by a British scientist, Tim Berners-Lee, in 1989. He had the design while working with CERN. The primary development of the web was to share automated information between scientists in different universities and institutes across the globe.

However, web 1.0 came at the time when the internet was new to the global communities, which was between 1989 and 2004. In web 1.0, users are provided with only information, as all the websites were static web pages linked by hyperlinks. Every web user at that period was an internet consumer.

At this time, the web URL is required in getting information. But with several search engines today, the latest invention has changed the digital narrative surrounding the internet, especially as web 1.0 was also referred to as “read-only internet”.

Web 2.0 (2004–Present)

The year 2001 was the time the dot-com bubble had a blast. To some people at that time, they saw the web as a figment of exaggeration, but it was the time ascendant technology fully came to the limelight of global discourse.

Many startups at this time, began to include web 2.0 in their presentations for branding and marketing. But later in 2004, this version was pitched to the spotlight by Tim O’Reilly and Dale Dougherty.

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According to O’Reilly, web 2.0 core competencies include:

  • Harnessing collective intelligence
  • Software beyond the level of a single device
  • Services with cost-effective scalability
  • Trusting users as co-developers
  • Lightweight user interfaces, business models, and development models
  • Utilizing the long tail through customer self-service

Web 2.0 in its entire features enables users to participate in content creation, engagement, and sharing on the internet instead of just its consumption.

Did you know? The successful invention of web 2.0 technology, also called ” Web as a Platform”, enhanced the growth of companies like Youtube, Facebook, and Twitter where users can interact with other users on the internet.

Moreover, this technology version was driven by three (3) vital innovations:

  • Mobile
  • Social Media
  • Cloud Computing

Web 3.0 (The Future Of The Internet)

The term web 3.0 was first coined in 2006 by John Markoff. Its development was an advancement on the web 1.0 which provides static data for its users, as they can only read information while companies are ignorant of the user behavior.

Meanwhile, web 2.0 users can read, write, and create on the Internet. This makes companies to have a better understanding of users’ dynamic data. Also, the social media world had its revolution at this time.

Today, we are in the future of web 3.0, which translates to every algorithm trying to understand users’ data while ensuring the internet is personalized for every user. This is evident in the creation of Netflix, Spotify, Youtube, etc, which is trying to understand user behavior to bring much-needed familiarity and personalization to the webspace.

In a bid to further make the internet more open and highly decentralized, web 3.0 can take advantage of peer-to-peer technologies like blockchain, metaverse, internet of things, and virtual reality to achieve that.

As earlier stated, users’ reliance is on large companies that can access their data, but with distributed ledger technology like blockchain, users can easily track their data on the web.

How Does Web 3.0?

Blockchain underpins the web 3.0 technology. This is also the same technology used for the operation of cryptocurrency and NFTs.

The idea of web 3.0 was conceived to address data storage in decentralized storage and its spread across the internet as a whole, rather than kept on a few servers like web 2.0 applications. There are numerous decentralized web 3.0 applications (dApps) running on the Ethereum blockchain, including Dark Forest, Uniswap, Foundation, and PoolTogether.

The decentralized feature would help to grow the internet as it makes the internet tho become more accessible from anywhere in the world.

Features Of Web 3.0

1. Open

The technology is designed with open-source software developed by an available community of developers while being accessed by anyone.

2. Permissionless

Users and providers can easily communicate without restrictions from the controlling organization.

3.  Ubiquitous

Web 3.0 makes the internet accessible to everyone from everywhere and at any time. The Internet can be accessed by any device (computers and smartphones).

4. Trustless

Users are provided with the freedom to communicate privately and publicly without the meddlesome of a third party.

Benefits Of Web 3.0

1. Transparency

All information is shared across decentralized networks and distributed ledgers. With web 3.0, you can track your data and even monitor the code of the platform you’re using. Trust issues don’t exist here like the web 2.0, where large companies are in major control of personal data.

2. Privacy

One major advantage of cryptography, concerning blockchain technology, is the ability to monitor and track your personal information on the internet. This is an advancement in web 2.0 technology.

Web 3.0 aims to proffer solutions to the problem of a data breach, which was prevalent in the web 2.0 world.

3. Information Authorship

Information is highly encrypted in the web 3.0 world. So, information can only be shared upon permission. It should be noted that big companies in the web 2.0 world, including Facebook and Amazon, have unlimited access to our personal information like credit cards, interests, etc, and resell the data to advertisers.

You own your data in the web 3.0 world.

4. Less Middleman

The nature of decentralization is to forge a linkage between providers and end consumers. In this case, the operation is devoid of any central authority. Web 3.0 does not guarantee an absolute elimination of middlemen with blockchain technology, perhaps, some regulations need to be put in place to monitor fairness.

5. Uninterrupted Service

Using the highly decentralized blockchain technology, problems like interrupted services due to tok server failure or account suspension are solved. Distributed nodes the data to prevent point server failure.

Conclusion

Web 3.0 is the future of technology. Its implementation can be seen in various core areas like social media platforms, messaging, virtual assistants, etc. Therefore, it is no news that we are on the path to the internet where users can track their data and have absolute control of their data privacy, through blockchain technology.

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