What is Web 3.0 – Decentralized Internet?

16/04/2022

Web development is usually divided into three periods: Web 1.0, Web 2.0, and Web 3.0. Do you already know about Web 3.0? Let’s read this article by Moonka.

Source: Internet

Web 1.0

The first period of the Internet was called Web 1.0. Web 1.0 is a read-only web or a Syntactic web. That is, users almost only read the content passively, without any interaction. Whereas web developers are people who build web pages with textual or graphic content at the same level of content for readers. Web 1.0 existed roughly from 1991 to 2004.

In Web 1.0, web pages were static rather than Hypertext Markup Language (HTML) as in Web 2.0. Data and content are served from a static file system and with very little interaction on web pages.

Web 2.0

The current version of the web in our daily life is Web 2.0 (read-write web). You don’t have to be a web developer to participate in Web 2.0. Many apps are designed in such a way that anyone can be a creator.

You can create thoughts and share them with others. You can also post a video and make it available for millions of other people to view, interact with, and comment on on Web 2.0. Youtube, Facebook, Flickr, Instagram, Twitter and other social media are just a few examples of Web 2.0 applications.

Web technologies, such as HTML5, CSS3 and Javascript or ReactJs, AngularJs, VueJs and others, allow companies to develop new ideas that allow users to contribute more to Web 2.0. Therefore, developers only need to design a mechanism to activate and engage users.

Web 3.0

Web 3.0 is the third generation of the internet, which is the vision of a serverless intelligent Internet consisting of interconnected decentralized webs. Web 3.0 is a place where users have control over their data and identity.

Web 3.0 is built on top of blockchain technology. The special feature of Web 3.0 is that it is decentralized. Instead of users accessing the internet through services mediated by companies like Google, Apple or Facebook, individuals control the Internet themselves.

Web 3.0 does not require a central authority to control who can access what services, and there is no need for an intermediary to control the transactions that occur between the parties. Usually, these agencies and intermediaries are doing most of the data collection of users. So, technically, Web 3.0 protects user privacy better.

Decentralized finance, more commonly known as DeFi, is a component of the rapidly evolving Web 3.0. It entails performing real-world financial transactions on the blockchain without the help of banks or governments.

Web 3.0  Applications

Recently, we see blockchain technology especially NFT that can allow users to participate in virtual reality like metaverse. Metaverse is a digital 3D universe that works on blockchain and gives anyone the freedom to create assets, exchange, play, invest and more. Thanks to blockchain, these digital environments are interoperable and scalable.

Similarly, Web 3.0 can provide a platform for people to create and buy and sell goods like NFTs. Since Web 3.0 is a collection of applications and user interactions on a decentralized platform, it is highly interoperable and facilitates transactions.

An example of an application of Web 3.0 is Axie Infinity, a marketplace that connects games and decentralized finance (DeFi). This NFT-based online game requires users to first purchase an Axie avatar as an NFT to start playing. Monetization gameplay, self-regulating supply, and ownership incentives are some of the features that increase community engagement.

Advantages and disadvantages of Web 3.0

Advantage

More information security: Thanks to decentralization, Web 3.0 will ensure that users are always in control of their online data, and large corporations will not control user information.

Increased personalization: Since Web 3.0 can understand your preferences, you can personalize your browsing experience.

Web 3.0 helps sellers to market better: With the help of AI, sellers can understand customer buying needs and display products and services that customers are interested in. These ads are more effective.

Uninterrupted Service: Decentralization means that all data will be stored on distributed nodes. Therefore, users do not need to worry about specific account suspensions or service interruptions due to technical or other reasons.

Disadvantages 

Difficult to control: Some experts believe that decentralization can make it more difficult to monitor and control Web 3.0. This can lead to an increase in cybercrime, religiously and politically sensitive issues.

Needs a more modern processor: Older devices won’t be able to handle Web 3.0. Therefore, equipment with higher specifications is needed to be able to use it.

Data

Easily accessible personal information: Web 3.0 is vast and interconnected. While this is its strength, it invisibly makes it easy for others to access your public and private information.

Top Web 3.0 Crypto Tokens:

  1. Chainlink (LINK)
  2. Filecoin (FIL)
  3. THETA (THETA)
  4. Helium (HNT)
  5. The Graph (GRT)
  6. BitTorrent (BTT)
  7. Basic Attention Token (BAT)
  8. Arweave (AR)
  9. Siacoin (SC)
  10.   Livepeer (LPT)

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