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Web 3.0

As time passes through and technology is evolving it is important to stay up to date with new information. Here is some of the most important information that you don’t want to miss. Here are all the important details that you must know about the world of the Web.

 In the beginning, there was web 1.0. It was an information superhighway of documents connected by hyperlinks and it was good around 2004. 

Then, we saw the emergence of web 2.0, where more people started participating in the web through platforms like Facebook, YouTube, Twitter and many others. It led to massive centralized tech corporations that dominate the flow of information and money on the internet. 

We live in interesting times because we are at the tipping point of web 3.0. This article is a complete introduction to the wild world of web 3.0. 

What is Web 1.0 and Web 2.0?

Let’s first look at what the Internet was like. Between  1991 and 2004, the Internet consisted primarily of a large number of static pages. That said, whenever you load them, they just showed a few things, and that was it. Sometimes called read-only.  There was no login, interaction with posts, or analysis display. 

Early internet wasn’t very profitable, it was just a big pool of knowledge like Wikipedia. Of course, it has gradually improved over time. Various new features such as Flash and Javascript have been added. Back then users went online to consume information.

From around 2004 to today, the Web has evolved significantly, but one of the biggest changes is the interactivity of the Internet. Which makes the sharing of information open for both sides, means when you get to a site to gain some information, it gets information about you too. If you don’t know about some SEO myths and facts you can check it here.

When we did a Google search or search something on apps like Facebook and YouTube, these centralized companies began collecting data about us. That meant more money for her. But eventually, they realized that they could package up all the data they had collected on us and sell it to advertisers. 

Web 2.0 is an era of targeted advertising and lacks user privacy. To be fair, we’ve also gladly abandoned this privacy for cool apps like Facebook and Twitter. In Web 2.0, pages vary depending on who viewed them, so you and I could see both  facebook.com and two very different news feeds. 

This is a crucial indicator of the difference in Web3. The content of the feed is that the company categorizes the data through the information that you like, like, and you know how many times you watched the video. 

But when you see the ads given to you, they classify the data information they got of you without your knowledge, for example when you went to a restaurant last night, they knew that when you dropped your kids off at school every day except for Sundays they knew that. Whatever the case is how they predicted this is one centralized company controlling all of this data whether we want to or not is scary.

What is Web 3.0? 

A decentralized but secure internet where people can exchange money and information without the need for an unnecessary middleman like a bank or tech corporation. 

Web 3.0 is the next step in the Internet’s growth, and it will most likely incorporate blockchain technology and decentralisation tools. When you were exploring social networks in Web 2.0, you were the product, but in Web 3.0, some say you are the owner of your material, the content you upload online.

Now this is kind of true so if you want to post to stay up it’ll stay up but if you want to take it down, they say in web 3.0 you can control that because as we all know usually when something is on the internet it’s always on the internet. 

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In web 3.0 experts claim that users will reach a destination on the internet where every company would be run by a decentralized group called a DAO which stands for Decentralized Autonomous Organisation. In other words, there is no CEO or president.

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The person with the most tokens can vote on how the company will change, not on government or family traditions. In web 3.0 there will be no censorship of social networks, that said one controlling authority can not shut it down.

After all, one of the biggest features of Web 3.0 is that your digital ID isn’t 100% linked to your real ID. Now this claims you can view pages, download material, make purchases and do any other activity on the internet without being traced to the real you, there are many ways we can anonymize ourselves online. 

These may be long term ideas of those who think about web 3.0. It is surely not gonna be a bunch of world shaping stuff all at once. It will likely be a series of ideas that grow together until centralized companies like Google and Facebook are disassembled by the legislature while decentralized unregulated DAOs grow to replace them.

Crypto and Web 3.0

Do we need cryptocurrency to build decentralized apps? Decentralized tech has been around forever like peer-to-peer file sharing with Napster back in the 90s or BitTorrent which has a hundred million monthly active users.

Cryptocurrency is still kind of essential because you need some form of payment to build up a creator economy and banks are not an acceptable solution there. It also provides the incentive for people to provide the computing infrastructure that makes the whole thing possible. 

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How does a decentralized app work?

Let’s use the ethereum blockchain as our example although there are many alternatives with different trade-offs out there. 

Ethereum is like a giant network of computers where all the participants agree on the same state of the data throughout the network. Ether is a cryptocurrency on the Ethereum network used to create transactions that change the state of data.

When you perform a transaction, you further offer up a minor proportion of ether which delivers a cause for another computer in the complex to fulfill the transaction. This is also called a gas fee and conceptually it is similar to paying aws for cloud computing resources. 

If you want things done faster you pay more gas. Normally when you build a web application and you write some back-end code then deploy it to a centralized server like aws for a decentralized app on the blockchain your back-end code is contained in a smart contract usually written in the solidity language which is just an application that lives on the blockchain that can govern the behaviour be multiple accounts. 

A decentralized app also needs to have a front end that can be built just like a normal website except for the fact that user authentication works in a completely different way. 

Conclusion

Web 3.0 has the ability to give significantly more value to users, extending far above the social media, streaming, and online sales applications that make up the most of Web 2.0 apps. Web 3.0’s fundamental features, such as Semantic Web, AI, and machine learning, have the potential to dramatically expand usage in new domains and greatly enhance user interaction.

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Decentralization, on the other hand, has major legal and regulatory dangers. Because there is no primary authority, issues like cybercrime, hate speech, and disinformation which is presently tough to control will become much more difficult in a decentralized system.


The age of Web 3.0 is coming towards us but it still can take some time to lead the internet completely. 

In the same way that Web 2.0 emerged as the dominating force in the global commercial and cultural environment in the 2010s, Web 3.0 might be the major player in the next decade. On Oct. 28, 2021, Facebook changed its name to Meta, which could be an indication that the transition to Web 3.0 is getting momentum.

By VICKY KUMAR

Creator of I AM UR TEACHER, Engineer by Degree. 4+ Experience in Digital Marketing, Travel & Gym Lover.

2 thoughts on “Web 3.0 and Crypto: The Future holds a Decentralised Internet”
  1. It’s more knowledgeble blog for web 3.0 in details and simple words, easily understandable. Keep it brother !!
    I am always with you.

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