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What is Web 3.0 and How Will It Change the Internet?

What is Web 3.0 and How Will It Change the Internet?

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Communication technology seems to be the fastest developing field. And when we have moved from web 1.0 to web 2.0, we are naturally already bolting towards web 3.0.

Research on computer network communication started in The 60s. By 1974, Vint Cerf, Yogen Dalal and Carl Sunshine defined the basic concept of the Internet, Transmission Control Protocol (TCP) and Internet Protocol (IP).

In 1993, the Internet was invented 1% of the global communication landscape. By 2000, it rose to 51 percent and by 2007 to over 97 percent of telecommunications.

Today, the internet is at the core of modern civilization. It brings regular and business communication to a high level. And as it turns out, this isn’t even the final form.

Web 1.0 – 2.0 – 3.0

Web 1.0 comes into the picture

In the 1990s, Internet 1.0 entered the communication field as a “read-only network”. You can just search for websites and read them. Sites were built using static HTML pages that only had the ability to display information.

To begin with, you should go through the website directories. Only after the year 2000 can you use some search engines with basic functions.

Believe it or not, the web 1.0 “era” is the time when Yahoo was the MVP and Google only dreamed of becoming the next Yahoo.

When did web 2.0 start?

A more interactive form of the Internet began to take shape in the late 90s.

CSS wasn’t a thing in the early 2000s, so developers had to write thousands of lines of PHP, HTML, MySQL, and JS code to customize a website a little more.

However, when the first version of Flash was released in 1996, it revolutionized website design and allowed developers to create a variety of websites that contained complex media such as web applications, all kinds of games, videos, and images.

Flash provided some missing functionality for a while. But as devices evolved, so did the concept of acceptable charging time. So Flash started to bring little or no value to modern browsers.

As more designers and developers realized the benefits of Web standards, HTML5 and CSS3 sites began to replace Flash-based websites.

When Facebook appeared in 2004, the transition from web 1.0 to web 2.0 became quite clear. Later, major platforms based on customer-generated content, such as Reddit (2005), Twitter (2006), and Youtube (2007), reinforced the “read-write network” forever.

The web wasn’t just for businesses to appear on a website. The average Internet user got a voice. This is how reviews and testimonials became essential for marketing purposes.

Even more so since smartphones hit the market in 2007, more and more people have a fully functional internet connected device in their pocket.

So now in web 2.0 we create blogs, share videos, write reviews and do voice searches. In addition, we use the Internet to its full capacity from a small mobile device as a social tool, an encyclopedia, for buying and selling or as a weapon against brands.

So what will happen to Web 3.0?

As the Internet developed, scientists began to look forward to what the Web could become. The first concept related to web 3.0 comes from Berners-Lee in 1999 as “semantic web”.

I have a dream about the Web [in which computers] be able to analyze all information on the web – content, links, and transactions between people and computers. The “semantic web” that enables this has yet to emerge, but when it does, the day-to-day mechanisms of commerce, bureaucracy, and our everyday lives will be managed by devices that talk to machines. The “intelligent agents” that people have been touting for ages are finally becoming a realityBut over time, web 3.0 will begin to go beyond the “semantic web” to include artificial intelligence, interoperability, decentralization, and more.

Definition of Web 3.0

To be honest, there is no absolute definition of what web 3.0 means.

The Semantic Web

As mentioned earlier, in 1999, Bernes-Lee came up with the concept of the “semantic web”, which should analyze all the data on the Internet, allowing machines to handle many tasks without human intervention.

Smart grid

However, the term Web 3.0 appeared for the first time in 2006. The term was introduced by John Markoff of the New York Times and it referred to the supposed third-generation Internet-based services, which together comprise the so-calledsmart grid.

In general, web 3.0 is believed to have the following 5 characteristics:

  1. The Semantic Web – Web 3.0 goes beyond a focus on keywords and numerical values ​​to understand content such as a photo, video or audio and more complex associations between products, places and specific behaviors.
  2. Artificial intelligence – Artificial intelligence software can decode natural language and understand intent. It can also identify genuine from fake and provide more reliable information.
  3. 3D graphics – The third generation Internet should combine 3D graphics and VR technologies to get results from real-life places, different products and points of interest.
  4. Connections – In Web 3.0, information is combined more through semantic metadata, which makes use of all available information.
  5. Everywhere – Information silos are removed. Each device must be connected to the network and the content used by different applications.

Decentralized network

As free-to-use online platforms began to take over a large share of programmatic online advertising, users began to fear more and more about their personal data. And when Blockchain and cryptocurrencies emerged, the desire for decentralization grew.

Therefore, the blockchain community is planning a web 3.0 with the 5 features mentioned above, and more importantly, a decentralized peer-to-peer network.

The “decentralized web” uses the power of blockchain technology to eliminate the need for centralized operators who only work with immutable encrypted data.

At the moment, the blockchain platform closest to web 3.0 is considered to be the Ethereum platform.

Are we in Web 3.0?

Large technology companies are already deploying software that can analyze complex data and combine various parameters. We can even go to Google Maps street view cities from the other side of the planet. And we constantly have the feeling that advertisers are listening to our conversation through our devices.

But now that most people are used to the highly social and interactive web, questions about whether we’ve fully moved into web 3.0 have been around for years.

However, there is no reason to believe that we have left the web 2.0 zone.

So the short answer is “not yet”.

Artificial intelligence research has yet to produce a product that can be effectively used on the Internet. Currently, many apps are limited to running on only one operating system (be it iOS, Android, Windows, or something else).

And while VR is increasingly being developed, it still has a long way to go before it is widely used.

However, we are quite close to web 3.0.

Web 3.0 Blockchain

Within the blockchain community, web 3.0 principles have found several projects that approached the idea of ​​a cryptocurrency-backed decentralized internet. And by far WEB3 Foundation’s projects are the closest to these ideals.

Web 3.0 in Blockchain: Polkadots and Kusama

WEB3 Foundation and Gavin Wood broke the news via Polkadot and Kusama.

Gavin Wood was already known as one of the key people of the Ethereum Foundation. But since he left Ethereum, he created the Web3 Foundation. At WEB3, he explored the idea of ​​an interoperable self-governing blockchain platform that could be used to create parachains that could also communicate between them.

Kusama and Polkadot are not in their final form. Still, the community’s trust in WEB3 Foundation’s initiatives is quite high.

Clear indicators of this fact are the considerable market values ​​of the projects (over $1.4 billion for KSM and over $12 billion for DOT) and the market excitement around the parachain slot auction.

Key takeaways

  • The Internet developed in the second half of the 20th century.
  • In 1993, the Internet constituted 1% of the global communication environment. By 2000, it rose to 51 percent and by 2007 to over 97 percent of telecommunications.
  • Web 1.0 entered the communication field in the 1990s as a “read-only network”. You can just search for websites and read them.
  • The appearance of Facebook in 2004 is a milestone where the transition from web 1.0 to web 2.0 is quite clear. In a “read-write web”, users can write content to a website, not just read it.
  • Web 3.0 is the next step in the evolution of the Internet, and it is believed to be coming soon. Its core features are semantic web, artificial intelligence, 3D graphics, connectivity and ubiquity.
  • The Blockchain community is envisioning a web 3.0 that has the above 5 characteristics, but more importantly, it is a decentralized peer-to-peer network. The “decentralized web” uses the power of blockchain technology to eliminate the need for centralized operators who only work with immutable encrypted data.

* The information in this article and the links provided are for general information purposes only and should not constitute financial or investment advice. We recommend doing your own research or consulting a professional before making any financial decisions. Please note that we are not responsible for any loss arising from the information on this website.

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