Today's blog is going to be one of the most trending topics in Web 3.0, With the recent hype of NFTs, metaverse, crypto etc Web 3.0 seems to be coming into reality now more than ever!
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A quick intro to web 1.0 and 2.0
Let's understand web 1.0 and web 2.0 before we get into web 3.0, Web 1.0 was the invention of the internet during the period of the early 1990s (WWW- world wide web) Here most of the content was Static. People could use it to access some information such as news, sales, etc.
Web 2.0 was during the late 1990's itself but by the mid-2000s (2005 ish) most of its main features were out. Now people could not only have a source of information but even interact with the website ( eCommerce, social media, youtube etc ) A whole new world of possibilities was a by-product of web2.0
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Deep into Web 3.0
By now you must be wondering what are the features of web 3.0?
Web 3.0 is decentralised internet in simple terms. Where there is no middle company that has control over it. For example, Suppose you wanted to create a social media account you need to give a lot of personal info and even while uploading any data you have to insert more data onto the social media application, this data can be misused by these tech giants, What web 3.0 does it removes the middle man so now the data is on a decentralised network which leads to removal of the " platform " role.
Web 3.0 is the next speculated (under development) phase of the internet. In web2.0, it was mostly owned by all these tech companies but now in 3.0, it's going to be governed and " owned " by the users themselves. Since as of now our data is half of these companies our privacy is at stake now these companies could sell our data to other companies to make Billions of $$. To avoid this sort of data leaks we need web 3.0 asap. Now with the current hype of crypto, the new phase of the internet seems more realistic!
It works on the principle of a decentralised autonomous organisation (dao) where any business transaction is transparent and viewable by anyone. Blockchain follows the dao principle - Here Blockchain is a ledger 📒 where all transactions are recorded and viewable by all. Though no one can edit a transaction that has already occurred. To understand blockchain concepts deeply check out my previous blogs on it ^^.
We can take an example of hive itself here once a blog is created it is forever stored on the blockchain and can never be deleted(editing the content is more of a feature).
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Web 3.0 Applications
We can create various dapps on web 3.0
Hive again is a big live example, we can also have messaging apps which could provide more data security than an end to end encryption, Social media apps could be decentralised. Instead of cloud storage by companies such as google, apple, Microsoft we can have decentralised cloud storage. Our normal browsing data can be even more secure and banks could start utilising this technology for increasing the liquidity and security of assets they have.
My Conclusion
Web 3.0 will provide a much more secure, customisable, smarter internet. Now every individual will be the owner of their data, this would lead us to a whole new digital world with a lot more possibilities.
Hope you learnt something new in this blog, Let me know your thoughts on this topic in the comments :^)
