Cryptocurrency, NFTs, Metaverse, and now Web 3.0 are all buzzwords. In every meaning of the term, the twenty-first century has proven to be dynamic and fast-paced. As soon as the excitement over something new wears away, another innovative notion emerges. So, in this essay, we'll go through all of the buzz around Web 3.0 and attempt to answer all of your questions about it. What exactly is web 3.0? Is it secure? How does it function? Will it transform the internet? And many more questions like these will be answered. But, before we get into the specifics of Web 3.0, it's vital to grasp what the World Wide Web (www) and its previous two editions are. So, let's go back in time and see what we can find.
History of WWW
Most of us are aware that www stands for world wide web and is commonly used as the prefix of most websites, such as www.techburner.in. Back in 1994, the original version of the internet resembled a newspaper. There were no interactive or animated web sites. It was merely reading data from a screen. This was the Web 1.0 era.
However, in 2004, the second incarnation of the internet, known as Web 2.0, entered the scene. In this case, the internet was transformed into a two-way communication instrument. Social networking applications like Instagram, Facebook, and Twitter have taken over the contemporary iteration of the internet. It is also controlled by a group of tech behemoths such as Apple, Microsoft, Google, and Amazon.
Web 3.0, often known as the decentralised web, is the third generation of the internet. It is believed to be far superior to the internet as we know it now, i.e. web 2.0. There are several privacy concerns with today's internet, including user identification and location monitoring, to mention a few. Furthermore, any anything we post on social media is subject to rigorous limitations and is owned and managed entirely by the platform rather than the ultimate originator. Web 3.0, on the other hand, is not like that.
What is Web 3.0?
Web 3.0, often known as the decentralised web, is the third generation of the internet. It is believed to be far superior to the internet as we know it now, i.e. web 2.0. There are several privacy concerns with today's internet, including user identification and location monitoring, to mention a few. Furthermore, any anything we post on social media is subject to rigorous limitations and is owned and managed entirely by the platform rather than the ultimate originator. Web 3.0, on the other hand, is not like that.
Web 3.0 is not dominated by a group of firms or individuals. It is completely self-contained and wholly user-specific, with users having complete control over their data and content. It is also lot more secure and transparent in terms of privacy.
What is The Technology Used Behind Web 3.0?
Web 3.0 is being developed on blockchain, the same technology that underpins bitcoin and NFTs. It is essentially a decentralised electronic ledger that maintains digital records of asset ownership without the need for a centralised authority.
To put it simply, blockchain eliminates the need for intermediaries, allowing the technology to be considerably quicker, more secure, and tougher to tamper with. It is also believed to guarantee peer-to-peer internet connectivity, which would enhance internet speeds significantly faster than the previous generation.
Will Web 3.0 Revolutionize The Internet?
Both yes and no. Right now, we can't categorise it as right or incorrect. The technology is in its early stages of development. But, certainly, that sounds promising. However, there is another school of thinking on the subject. Elon Musk, the creator of SpaceX, and Jack Dorsey, the co-founder of Twitter, have both expressed their concerns about the situation.
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