What Is Web 3.0?

web3

Following Web 2.0, Web 3.0 was born with greater flexibility and interactivity than its predecessors. In the future, Web3 will become an inevitable trend and dominate the Internet market. So what is Web3? Let’s find out with CoinMinutes through the article below.

What Is Web3?

Definition of Web3

Web3 (or Web 3.0) is the third generation of the Internet, born to solve the problems of Web2. By applying artificial intelligence (AI), Machine Learning (ML) technology, and blockchain technology… Web3 can connect data in a decentralized way instead of centralized like Web2. From there, it helps keep information secure, providing a more optimal and personalized experience for users.

The birth of Web3 is expected to fill the gaps left by Web2. However, remember that Web3 was not born to completely replace Web2, but to give users new options in deciding which platform to choose for long-term use. Web1 will still exist when Web2 is born and Web2 will still exist when Web3 is born. Web1, 2, and 3 depend on each other to develop.

The Difference Between Web 1.0, Web 2.0, Web 3.0

Web 3.0 is the successor of Web 2.0 and Web 1.0. The first generation of web or Web 1.0 was invented and defined by Tim Berners-Lee in 1989. Web 1.0 refers to basic accessibility and connectivity on static web pages. The first generation of the web lasted until around 2004 when Tim O’Reilly coined the term Web 2.0.

Web 2.0 refers to websites and applications that use user-generated content for end users. Web 2.0 is used in many websites today, mainly focusing on user interaction and collaboration. In addition, web 2.0 also focuses on providing more universal communication and networking channels.

The difference between Web 2.0 and Web 3.0 is that Web 3.0 focuses on using technologies like machine learning and AI to provide relevant content to each user instead of just content that other end users have provided.

Essentially, Web 2.0 allows users to contribute and sometimes collaborate on website content, while Web 3.0 can use the semantic web and AI technology to perform this task. On the other hand, Web 3.0 also has a strong focus on decentralized services and authority, which contrasts sharply with the centralization of Web 2.0.

Key Features of Web3

Web 3.0 has special features that make it different from previous versions and opens up many use cases, catering to user needs.

Artificial Intelligence (AI)

Web3 uses artificial intelligence to provide learning and automation in information processing and user interaction. AI in Web3 can be used to create intelligent applications, such as virtual assistants, recommendation systems, data analysis, and predictions. This improves user experience and enhances interactivity on Web3.

Semantic Web

The Semantic Web is an extension of the World Wide Web that provides meaningful and interactive content through the association and analysis of information according to its meaning.

Web3 aims to build the Semantic Web, allowing data to be described according to semantic structures and relationships between entities, helping computers understand and interact with data more intelligently.

3D graphics

Web3 provides 3D graphics support, allowing the construction and display of 3D objects, models, and simulations directly on the web platform. This opens up new creative and interactive possibilities on Web3, from virtual world-building, and 3D games to augmented reality (D) and virtual reality (VR) applications.

Popularity

Ubiquity means it can appear everywhere at any time. Web 2.0 is an example that clearly demonstrates this property. Facebook users can take photos and share them instantly. This then became popular because it was available to anyone no matter where they were, as long as they had access to social media platforms.

Web 3.0 simply takes this popularity to a new level by making it possible for anyone to access the Internet anywhere, anytime. In the future, IoT (Internet of Things) technology will bring many new types of smart devices. Therefore, Internet-connected devices will no longer only focus on computers and smartphones like Web 2.0.

Layers of Web3

While Web 2.0 was primarily driven by the advent of mobile, social, and cloud technologies, web 3.0 is powered by three new layers of technological innovation:

  • Edge Computing: While Web2 transformed conventional personal computing technology in data centers, Web3 pushed the data center to the periphery and into the hands of users.
  • Decentralized data network system: Users will own their data on Web3 because the data is decentralized. Different data generators can sell or share data without losing ownership or relying on intermediaries through decentralized data network systems.
  • Artificial Intelligence and Machine Learning: Artificial intelligence algorithms and machine learning technology have advanced to the point where they can create useful predictions and actions, sometimes saving lives.
  • Blockchain: Blockchain uses smart contracts to execute transactions. These smart contracts define the semantics of a Web3 application.

How Does Web3 Work?

By logging user activities on the blockchain, Web3 helps users share their data across the network and communicate between websites using a single account. Web3 improves privacy, improves transparency, eliminates intermediaries, facilitates data ownership, and digital identity solutions number Web 3.0 like a database.

Huge database, access to search information on the Internet to answer your questions. Can know everything about you like a mentor or assistant who always accompanies you. Additionally, blockchain technology can enable more direct online transactions and interactions without the need for intermediary services and servers like today.

Pros and Cons of Web 3.0

Pros

  • Web 3.0 is always operating non-stop
  • Web 3.0 owns outstanding advantages in decentralization and permanent data storage capacity.
  • Completely eliminated intermediaries: Wed 3.0 has the ability to create a decentralized morality, directly connecting together without intermediaries.
  • Data cannot be modified or manipulated: The data stored on the blockchain blockchain cannot be invited to an individual or organization. Once saved into the blockchain, they will last forever.
  • Continuous operation: The service deployed on Web 3.0 is always operating non-stop. Because the system is operated by network nodes around the world instead of focusing on a server.

Cons

  • Despite being a pioneer web, web 3.0 still has quite a lot of weaknesses.
  • Slow processing speed: The need to run a large number of authentic buttons makes the speed of Web 3.0 slow down.
  • Not really user-friendly: Blockchain technology is generally still strange to the majority of users. Therefore, web 3.0 will take a lot of time to make users get used to and completely replace the traditional web.
  • Flooded garbage data: The text data on Blockchain is permanent, the right can not be removed. This leads to the increasingly heavy waste of data, which is heavy and time-consuming.
  • Decentralization: Every user has access to and control the foundation they participate.

Key Applications of Web3

Web 3.0 works on the blockchain platform that helps create many different applications and services:

  • NFT is an inactive notification code stored in a blockchain and a cryptography.
  • DEFI is a decentralized financial service used as a basis for unlimited financial services.
  • Cryptocurrency is a cryptocurrency encoding tool like Bitcoin applied to Web 3.0 to create a new modern currency world.
  • DAPT is a decentralized application based on a blockchain platform that allows the provision of new programming methods more effectively.
  • Cross-chain bridge has a lot of blockchains to improve interaction and communication with each other.
  • The knife is used to set up organizations or services of Web 3.0 with a number of decentralized structures and methods.

Conclusion

Above is detailed information about Web 3.0 that CoinMinutes wants to send to readers. Hopefully, the above article provides you with some valuable information and orientations about Web 3.0 so you can learn more deeply about this potential technology.

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Chi Do
Chi Do
Chi Do is a content writer at CoinMinutes, responsible for creating most of the content on the website, including news related to Bitcoin (BTC), Ethereum (ETH), Blockchain, Decentralized Finance (DeFi), and more. With a keen interest in cryptocurrencies since the 2020s, Chi has acquired extensive experience and knowledge in this field. Chi holds a Bachelor's degree in communication from Academy of Journalism and Communication in Vietnam.

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