What is Web 3.0?

Web 3.0 refers to the next generation of the internet, in which apps and websites will be able to handle data in a clever human like manner using technologies such as machine learning (ML), Big Data, and decentralised ledger technology (DLT), among others. Tim Berners-Lee, the inventor of the World Wide Web, dubbed Web 3.0 the Semantic Web, with the goal of creating a more autonomous, smart, and open internet. Web3 ideas vary, but they all focus around the concept of decentralisation and frequently include blockchain technologies, such as cryptocurrencies and non-fungible tokens (NFTs).

Data will be interlinked in a decentralised manner, which would be a significant improvement over our present internet generation (Web 2.0), where data is generally held in centralised repositories. Users and computers will be able to engage with data as well. However, programmes must be able to comprehend information both conceptually and culturally in order for this to happen. With this in mind, the Semantic Web and Artificial Intelligence (AI) are the two cornerstones of Web 3.0.

Because Web 3.0 networks will operate via decentralised protocols — the founding network protocols of blockchain and cryptocurrency technology — it is expected to witness a strong confluence as well as symbiotic relationship between the above three technologies and other sectors. They will be interoperable, smoothly integrated, automated by smart contracts, and used to run everything from microtransactions to censorship resistant P2P data file storage and exchange through applications like Filecoin, to entirely transforming how businesses conduct and operate. The present flurry of DeFi protocols is only the beginning.

Evolution of the Web Technology     

Web 1.0 (1989 to 2004)

Despite only providing access to limited content and little to no user involvement, Web 1.0, also known as the Static Web, was the earliest and most dependable internet in the 1990s. Because there were no algorithms to sift through internet pages in Web 1.0, it was incredibly difficult for consumers to obtain useful information. Simply described, it was like a one way road with a narrow footpath wherein content was created by a small group of people and information was largely gathered through directories.

Web 2.0 (2004 to present)

Thanks to developments in internet technology such as Javascript, HTML5, CSS3, and others, the Social Web, aka Web 2.0, made the web a lot more interactive. Because data can now be transferred and shared across several platforms and applications, social media and user-generated content production have flourished.

Web 3.0 (proposed)

Web 3.0 is the next step in the evolution of the web, allowing it to process data with nea human intelligence through the deployment of AI systems that can run clever programmes to help users.