|
|
|
|
Web 3.0 is a possible future version of the internet based on public blockchains, a record-keeping system best known for facilitating cryptocurrency transactions. The attractiveness of Web 3.0 is that it is decentralized, meaning that rather than consumers accessing the internet through services mediated by companies like Google, Apple or Facebook, individuals, themselves, own and govern sections of the internet. Web 3.0 doesn't require "permission," which means that central authorities don't get to decide who gets to access what services, nor does it require "trust," meaning that an intermediary isn't necessary for virtual transactions to occur between two or more parties. Because these agencies and intermediaries are doing most of the data collection, Web 3.0 technically protects user privacy better. Decentralized finance, often known as DeFi, is a component of Web 3.0 that's gaining steam. It entails executing real-world financial transactions on the blockchain without the help of banks or the government. Meanwhile, many major corporations and venture capital firms are pouring money into Web 3.0, and it isn't easy to conceive that their engagement won't result in some form of centralized power.
In this post, we'll go through how the web has evolved, why everyone is talking about Web 3.0, what Web 3.0 is used for, what is Web 3.0 in crypto, where it's heading next and why this matters. The World Wide Web is the major tool used by billions of people to exchange, read and write information and communicate with others over the internet. The web has changed dramatically over the years, and its current applications are nearly unrecognizable from its early days. What is Web 1.0? The earliest version of the internet was known as Web 1.0. Consider Web 1.0 to be the read-only or Syntactic web. Most of the participants were content consumers, while the makers were largely web developers who built websites with material delivered primarily in text or graphic format. Sites delivered static material rather than dynamic, hypertext mark-up language (HTML) in Web 1.0. Data and content were supplied from a static file system rather than a database, and there was little interaction on the web pages.
What is Web 2.0? Most of us have only seen the web in its current version, often known as Web 2.0, which is also known as the interactive read-write and social web. You don't have to be a developer to participate in the creation process in the Web 2.0 universe. Many apps are designed in such a way that anyone may become a creator. You can create thought and share it with the rest of the world. You can also post a video and make it available to millions of others to watch, interact with and comment on in Web 2.0. Youtube, Facebook, Flickr, Instagram, Twitter and other social media are only a few examples of Web 2.0 applications. Web technologies, such as HTML5, CSS3, and Javascript frameworks, such as ReactJs, AngularJs, VueJs, and others, enable companies to develop new ideas that allow users to contribute more to the Social Web. As a result, developers only need to design a mechanism to enable and engage users because Web 2.0 is built around them.
Consider how different prominent apps like Instagram, Twitter, LinkedIn and YouTube were in their early days compared to how they are now. The company launches an app. It enrolls as many people as possible. Then it makes money off of its user base. When a developer or corporation releases a popular app, the user experience is frequently incredibly sleek, especially as the app's popularity grows. This is why they were able to get traction so rapidly, to begin with. Many software businesses are initially unconcerned about monetization. Instead, they are solely focused on expanding and retaining new consumers, but they must eventually begin to profit. However, the limits of taking on venture funding often harm the life cycle and, ultimately, the user experience of many of the applications we currently use. For example, when a firm raises venture capital to develop an application, its investors typically expect a return on investment in the tens or hundreds of times of what they put in.
This means that, rather than pursuing a long-term growth strategy that can be sustained organically, the company is frequently pushed down one of two paths: marketing or data sales. More data means more targeted ads for numerous Web 2.0 companies like Google, Facebook, Twitter and others. This results in more clicks and, as a result, more ad money. The exploitation and centralization of user data are fundamental to the functioning of the web as we know and use it now. As a result, data breaches are a common occurrence in Web 2.0 applications. There are even websites dedicated to keeping track of data breaches and informing you when your personal information has been hacked. You have no control over your data or how it is stored in Web 2.0. In truth, businesses frequently track and save user data without their permission. The firms in charge of these platforms then own and manage all of this data. Furthermore, when governments believe someone is expressing an opinion that contradicts their propaganda, they frequently shut down servers or seize bank accounts.
|
|
