What Is Web 3.0: Complete Explanation

Web 3.0, also known as Web3, describes the future that many believe the web is heading toward. It promises intelligent connectivity, dynamic compatibility, and more democratic functionality. It isn’t just a new way to build websites but may become an entirely new way to experience the internet.

It all started with Web 1.0, or the World Wide Web, created by Tim Berners-Lee. The 1990s saw the first development of the web, with static HTML pages, little or no interaction, and not a lot of user-generated content.

Web 2.0, which began building momentum around 2004 after the dot-com crash, is the current form of the World Wide Web. Known as the social web, Web 2.0 is best known for Google, Facebook, Twitter, YouTube, TikTok, Amazon, and other large companies that offer highly interactive websites. Web 2.0 is all about sharing, liking, commenting, and creating.

Web 3.0 looks ahead to the future. It’s the goal of many inventors, researchers, and entrepreneurs to model the internet off of blockchains, similar to cryptocurrencies. Basically, Web 3.0 will become even more interactive and highly decentralized. Proponents hope Web 3.0 will result in more shared value across internet users. Users may be able to earn tokens to demonstrate their ownership of their content, which may even be used as a form of currency.

Web 3.0: An Exact Definition

Web 3.0 is a prediction of the future of the web. It focuses on increased compatibility, decentralized implementation of user-generated content, and tokenization which relies on blockchain technology. The result is a web that isn’t static like Web 1.0 or reliant on Big Tech corporations like Web 2.0.

How Does Web 3.0 Work?

Web 3.0 hasn’t been implemented yet, so the specifics of how it will work are up for debate. Leaders in the movement discuss a decentralized web that uses tokenization, artificial intelligence, and other features to create a semantic web. Learn more about all of these features below.

Decentralized Web

Web 2.0, or the web of today, is highly interactive and offers many opportunities for content generation and monetization. Unfortunately, most of those opportunities are managed by large corporations. Web 3.0 envisions a decentralized approach that removes these gatekeepers for a more autonomous, user-centric experience for your business and personal web use.

Tokenization

Based on blockchain, the technology behind Bitcoin and other cryptocurrencies, tokenization allows users to receive network tokens for adding value to the network. In theory, this could help give users the reward they deserve for adding value to the network, rather than leaving monetization up to Big Tech companies.

Artificial Intelligence

Artificial Intelligence (AI) is another important technology in the implementation of Web 3.0. Thanks to AI’s ability to comb over data and use natural language processing, Web 3.0 promises to be a semantic web. This increased functionality could allow you to interact with websites using natural language, not keywords.

How Do You Create Web 3.0?

Because Web 3.0 is a concept of what the web may become, you can’t currently create anything on Web 3.0. In theory, however, blockchain compatibility means that no one will require any permissions to post content on the web. This means a more democratic landscape for your business and for your personal use.

The exact programming and applications of Web 3.0 aren’t fully realized. This means that the definition and use of this technology are still changing and evolving as technology advances and industry professionals consider new applications of semantic, decentralized web technology.

Where Did Web 3.0 Originate From?

Tim Berners-Lee first envisioned a semantic web in the 1990s. Since the early 2000s, technological advancements like machine learning, AI, and blockchain have made the implementation of Web 3.0 and a semantic web possible in the near future.

A primary goal of Web 3.0 is to offer greater functionality and ownership across the internet. While Web 2.0 is known as the social web, the most commonly used websites are owned by major technology corporations. Web 3.0 is a movement to try to decentralize the World Wide Web for a more democratic experience.

What Are the Applications of Web 3.0

The concept of Web 3.0 has some serious applications and possibilities for your business and personal web use. You could not only share comments, videos, and images across the social web like in Web 2.0 but you can also receive tokens for your user-generated content that could be cashed in.

Web 3.0 also promises semantic search capabilities for full compatibility. Instead of you and a search engine trying to decode keywords and find the most appropriate pages through syntax only, a semantic web experience could help you find pages based on the semantics of your search query.

Another future possibility is 3D graphics. A three-dimensional world, like the metaverse, could allow you to communicate, shop, and explore the world in a virtual environment. This not only has possibilities in the social media and gaming industries but is also being explored in the e-commerce, real estate, and health industries.

Examples of Web 3.0 in the Real World

While not completely developed or in use, some existing technologies are being modeled on concepts of Web 3.0. Here are some examples of this decentralized, semantic version of the web in the real world.

Voice-Controlled AI Assistants

Though not perfectly semantic, voice-controlled AI assistants like Apple’s Siri, Amazon’s Alexa, and Samsung’s Bixby are all able to recognize complex questions and provide answers. The answers provided by these assistants are still based on Web 2.0 keyword-based searches but they are moving toward more complex questions and answers in natural language.

Cryptocurrencies and Non-Fungible Tokens

Cryptocurrencies and Non-Fungible Tokens (NFTs) are applications of user-generated content as a form of currency. Using peer-to-peer programming, cryptocurrency is encrypted to verify transactions. Cryptocurrencies are run on a blockchain, which is a distributed public ledger that uses a process called mining to create coins. Blockchain has many applications for currencies and other uses in Web 3.0.

NFTs are similar to cryptocurrencies in that they are assets on a blockchain. While similar at the programming level, NFTs differ because they are non-fungible. This means that they are completely unique and unable to be traded one for another. Think of an NFT as a piece of digital artwork, collectible, or trading card.

Web 3.0 Explained: Everything You Need To Know FAQs (Frequently Asked Questions) 

What is Web 3.0?

Web 3.0 is the proposed future of the World Wide Web. It envisions a web that is decentralized, allows for 3D graphics, and is powered by artificial intelligence and semantic search features.

What makes Web 3.0 different from other versions?

The goals of Web 3.0 include a more semantic search system, 3D graphic capabilities, and decentralized posting and monetization techniques.

How does Web 3.0 work?

Web 3.0 isn’t currently in use but it envisions a future World Wide Web where users are free to create content without Big Tech gatekeepers. The concept also promotes AI-powered semantic search capabilities and a way to reward users for their added value.

What is the difference between Web 2.0 and Web 3.0?

Web 3.0 hopes to overcome some key challenges of Web 2.0. These include keyword-based search features and a web that’s primarily owned and mediated by Big Tech corporations.

Is Web 3.0 a perfect evolution of the web?

Web 3.0 proponents see this as the perfect evolution because it offers decentralized features, monetization opportunities, and semantic search possibilities thanks to artificial intelligence.

Why is Web 3.0 important?

Web 3.0 hopes to overcome issues with Big Tech and search functionality on web 2.0. Its goal is to create an even more decentralized, ubiquitous, and democratic internet experience for all users.

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