The emergence of Web 3.0 is one of the most important developments in the world of technology and its potential is almost limitless. Yet there is a lot of confusion surrounding the exact definition. So, let’s deep dive and clear some doubts, which means we will have to pop back to where it all started, the beginnings of the internet, Web 1.0.
Web 1.0: Read-Only (1991 – 2004)
Web 1.0 refers to the first stage of the World Wide Web evolution. It was about retrieving and consuming information, which explains why it’s commonly referred to as Read-Only.
The internet was originally born in 1989 by British scientist, Tim Berners-Lee, who invented the World Wide Web while working at Swiss based CERN (one of the world’s largest and most respected centres for scientific research), with the intention to develop an automated decentralised information-sharing platform for scientist in universities and institutes around the globe.
By creating a decentralised protocol for information sharing Berners-Lee laid the groundwork for the Internet that we now know as Web 2.0, but it took roughly another decade until his vision of an open decentralised web evolved, allowing for content creation.
So, in the era of Web 1.0 there were only a few content creators with a huge number of users who consumed content and there was very little interaction between each other. Personal websites were common, consisting mainly of static pages hosted on ISP-run web servers, or free web hosting services. It costed the user as per pages viewed, had directories that enable users to retrieve a particular piece of information and advertisements on websites while surfing the internet were strictly banned.
Web 2.0: From Read-Only to Read-and-Write (2004 until now)
Information architect and website consultant Darcy DiNucci first coined the term “Web 2.0” in 1999. The phrase was later popularized by O’Reilly Media and MediaLive International during their web conference in 2004 and refers to 21st century internet applications that have transformed the digital era in the aftermath of the dotcom bubble.
Web 2.0 is the second generation of the World Wide Web and describes the current state of the internet with increased user interactivity, collaboration, and user-generated content creation. It’s often referred to as ‘participatory culture’ for Web 2.0 websites allow users to interact and collaborate with each other in a social media dialogue as developers create products and services that use the collective intelligence of participants as a basis for improvement and development.
Web 2.0 doesn’t refer to any specific technical updated, rather a shift to how it is used, such as websites enabled community-based input, interactions, and content sharing. Types of social media sites and applications include forums, blogging, social networking (on sites like Facebook, Twitter, LinkedIn) and curating, such as collaborative sharing of content organized around topics. Social content curation websites include Wikipedia, Instagram, TikTok etc.
Web 3.0: From Read-and-Write to Read/Write-and-Own
So what is Web 3.0 and what are the fundamental ideas behind it?
Despite a lot of talk and confusion revolving around web 3.0 there is a clear consensus about the basic principles. Web 3.0 is the improved version of the Internet, a vision of a decentralized web where users are in control of their own identity, data, and content. It is an attempt to make the web more intelligent, secure, and efficient.
Web 3.0 is still in its infancy, yet the possibilities are infinite. It’s focus lies on digital ownership of things and a user participative culture:
- The basic principles include decentralisation, transparency and distribution of ownership of all individuals that interact on the digital grid, instead of having large parts of the internet controlled by centralized entities, monetising and controlling your data.
- Web3 is also permissionless, meaning everyone has an equal chance to participate, and native payments, with digital currencies being used for online transactions instead of the traditional banking and payment processors.
- Finally, Web3.0 is trustless: We generally refer to blockchain as a ‘trustless’ ledger, which strictly speaking is inaccurate by its very definition, for Blockchain doesn’t eliminate trust but minimizes the amount of trust required from any party involved in the transaction by distributing trust, which functions via incentives and economic mechanisms instead of trusted third parties.
Web 3.0 will completely transform the way we use the Internet, providing greater user autonomy and security. It seeks to create a more user-controlled experience, with smart contracts automating processes, providing a secure platform for data storage and transactions. It will be more robust against cybercrime and identity theft.
For instance, decentralised applications, also called dApps, run on the blockchain which is a distributed, publicly transparent ledger technology, meaning the applications are not controlled by any single entity, such as Facebook or Google, but rather by a network of users and developers who interact with each other, which will allow for greater user autonomy, as they are not beholden to any central authority.
Blockchain further provides a secure platform for data storage and transactions. By using cryptography and consensus algorithms, blockchains ensure that all data is secure, transparent, and tamper-proof. This makes it a great platform for web applications, as it secures user data from malicious actors.
Web 3.0 developers and businesses are focused on creating applications that are more intuitive and easy to use with the aim to create more personalized experiences for users, allowing them to tailor the web experience to their individual needs.
One key element to Web 3.0 is the concept of “smart contracts”. These are computer protocols that facilitate, verify, and enforce the terms of an agreement between two or more parties. As such, “smart contracts” provide a way for users to securely and transparently enter into agreements that are self-executing and self-enforcing.
Additionally, “smart contracts” eliminate the need for third-party intermediaries, thus allowing users to interact directly with one another without relying on a third party. Smart contracts are becoming increasingly popular, as they can be used to automate a wide range of processes, from payments to identity management.
The Bottom Line
Web 3.0 promises to revolutionize the digital landscape as we know it, ushering in a new era of individual data ownership and protection. With its implementation of distributed ledger technology, smart contracts, and decentralized applications, users will be able to interact with each other on the digital grid in a more secure, private and efficient manner, paving the way for a more user-focused experience. Web 3.0 will be one of the most disruptive technological advancements to date, transforming the way we use the Internet.
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