Main Functions and Traits of Web 3.0 as a Leading Tech Trend
The Internet does not stand still, and currently, it is coming in a new paradigm called Web 3.0. It is a more democratic version of today’s online world that involves decentralization, targeting the audience, and removing control from key data companies. User privacy, transparency, and ownership are those traits of Web3 that attract and magnetize. Let’s dive into the world of Web 3.0, discover why it matters, and how it can transform your business.
Web 3.0 as a New Phase in the Internet Evolution
Are you tired of being treated like a product while using the Internet? Do you feel that your core values are challenged and privacy is violated? Do you think that Web2 giants like Amazon, Google, and Meta use you to keep profits coming? I have good news for you, Web3 can care more about the security of personal data and see you as a client but not as a source of revenue.
Web3 can change the situation dramatically because it aims to ensure better information access and respect the values of equality and transparency of its target audience. Thus, Web3 will provide you with digital property rights and contribute to secure market space. The third era of web technologies will put an end to giant companies’ hegemony and return to the Internet’s original vision. Let’s learn more about Web 3.0 to understand its main conception.
What is Web 3.0?
Web3 is supposed to be a new phase of the Internet evolution that brings such a change as information processing in a human-like way with the help of DLT, ML, and AI. However, Web3 is a rather undefined concept that requires time and effort from Web2 to Web3 transition. The difference between Web 3.0 from previous generations is that it is a semantic web reinforced by MLand AL tools.
The initial purpose of the Semantic Web was to become a more open, intelligent, and autonomous Internet. Decentralization of data helps to avoid manipulation and creates a gap between Web3, Web1, and Web2. Such cornerstones of Web3 like artificial intelligence and semantic web contribute to better interaction with data for users and machines. Let's see how Web 3.0 is going to influence our business and change our lives.
Web 3.0 Use Cases
Web 3.0 offers many distinct use cases by confirming its innovation, showing its capacity to produce new opportunities, demonstrating the ability to create new communities, and providing more power to decentralized companies. Let’s look at Web 3.0 examples of use in detail.
Games supporting Web3 js offer gamers the opportunity to make money by playing. For this reason, the play-to-earn mania has contributed to the emergence of thousands of copycat blockchain-powered games that provide players with rewards. Crypto gaming is devastated. However, the games are not over yet. Developers of Web3 games have many plans on how to make blockchain gaming fun enough for players. Web3-react is used to connect to the blockchain. What are other cases of applying Web 3.0?
Project management is one of the areas promoted and supported by Web3 projects and based on blockchain technology. These decentralized applications encourage participation in the ecosystem. The number of projects based on Web 3.0 is increasing, but here are the best ones.
- Chainlink. This network ensures feeding reliable outside data into smart contracts and integrating real-life information.
- Theta. This software presupposes the decentralization of video streaming services for global users and violates existing geographic restrictions related to the delivery of video content.
- IMPT. It helps decrease the carbon footprint for businesses and individuals by creating a greener kind of crypto.
- Basic Attention Token. It pays users for viewing advertisements.
As the Web3 foundation operates through decentralization protocols, it contributes to the explosion of decentralized finance. Such an option provides cryptocurrency users with the ability to trade, lend, borrow, and invest crypto assets.
Web 3.0 Jobs
The emergence of the Web3 foundation boosts the labor IT market by creating the demand for crypto and blockchain specialists. Web3 has great potential to scout the market for new jobs. By learning Web 3.0 technologies, you can increase your competitive advantage.
What are the peculiarities of Web 3.0 that differentiate it from previous web generations? Let’s try to understand the uniqueness of the new era of the Internet.
First, Web3 is characterized by ubiquity which is the capacity to be everywhere at the same time. In other words, it is omnipresent and makes the Internet more accessible to everyone. Moreover, Web 3.0 will contribute to the creation of new types of smart devices that will be different from those used by Web 2.0. Let’s reveal other traits.
As semantics is about the relationship between words, semantic Web 3.0 enables computers to analyze links between persons, transactions, and content. Thus, semantics add more meaning and emotions to the content by making Internet data machine-readable because of such Web 3 traits as intelligence and efficiency. The semantic web provides machines with the capacity to interpret emotions and meaning which enhances better data connectivity for Internet users.
Web 3.0 is characterized by artificial intelligence (AI) because of its capacity to read and decipher emotions and meanings. You may say: “Web 2.0 has similar capabilities. What are new ones?”. Of course, yes, but the problem is that the AI of Web2 is predominantly human-based and creates all conditions for corrupt behaviors such as biased rigged ratings and product reviews. Thus, AI is necessary to distinguish the genuine from the fake and receive reliable data. So go ahead.
Spatial Web and 3D Graphics
Web 3.0 is also called the Spatial Web because it aims to blur the line between the digital and the physical by turning graphics technology into three-dimensional 3D. Thus, it is evident that Web3 is revolutionizing graphics not only in gaming but also in e-commerce, health, and real estate.
Web 3.0 has applications that are characterized by the ability to process large-scale information and turn it into factual knowledge. These applications are still at the initial phase of their development lifecycle; therefore, they still have much area for improvement. Amazon, Apple, and Google are the companies that use 3.0 applications. Here are examples of applications based on
- Siri. This application uses speech recognition and AI to perform complex and personalized commands and understand requests.
- Wolfram Alpha. This app answers your questions directly through computation and detailed comparisons of things.
- Brave Browser. This browser offers great control over data, preferences, privacy, and advertising. In addition, it is characterized by many security and privacy features that protect users against phishing attempts, fingerprinting, and trackers.
All in all, Web 3.0 offers many benefits that contribute to your business by creating safer and more secure conditions in the marketplace. Using this technology is a must to boost the competitive advantage and stay up-to-date by relying upon Web3's unique features and applications. Our team is making it easier for businesses to benefit from the third web generation. So feel free to contact us.