And examples of its use
The distinction between our virtual and actual worlds has begun to blur, with surgeons now using holographic anatomic models during surgical procedures.
Manufacturing, maintenance, and warehouse employees are reporting substantial efficiency gains thanks to the Internet of Things (IoT) and augmented reality technologies.
Cities are creating comprehensive 3D digital doubles of themselves to assist with decision-making and scenario planning.
In this new world, there will be zero restrictions on creativity and innovation and zero middlemen fees.
This article discusses how developers, marketers, entrepreneurs, educators, and more can harness the power of web 3.0 and make their lives easier by utilizing these new opportunities!
What is Web 3.0
The use of decentralized technologies such as blockchain will allow for a more open environment in which internet data is decentralized.
Web 3.0 will enable users to switch away from centralized social networks like Facebook and reclaim possession of their personal information.
The next version of the Internet, dubbed Web 3.0, will return to the basic idea behind the web. One that does not require permission from a central authority to post. One where there is no single point of failure.
It will be a leap forward to open, trustless, and permissionless networks bringing us a fairer internet by enabling the individual to be free and sovereign.
Decentralization, in general, will take power away from centralized authorities and give it to individuals, increasing equality in the process.
The primary reason so many people are attempting to change the current Internet is that most of today’s most-used Internet platforms are controlled by a small number of powerful corporations, which profit from users’ data and can change the rules anytime they like.
What are the properties of Web 3.0?
Web 3.0 will be built upon:
AI will allow websites to filter and provide users with the best data available. We began incorporating user feedback in web 2.0 to assess the quality of a product/asset.
Consider a website like Rotten Tomatoes, where users may vote on a list of films. Movies with a higher rating are generally thought to be “good movies.” Lists like these assist us in obtaining “good data” without having to go through “bad data.” Peer reviews are one of the most reliable ways to judge the quality
However, as we are aware, human recommendations are not always reliable. A group of individuals may come together and give excellent ratings to an illegal movie to improve their ratings. Artificial intelligence may be taught how to identify the good from the bad and provide reliable data.
The Semantic Web
The Semantic Web is a branch of the World Wide Web that extends how computers can understand and process data.
The semantic web does not replace the current web. Still, it enhances it by allowing for a more intelligent search engine to crawl through content.
It enables computers to interpret words rather than keywords or numbers. The Semantic Web will allow easier access to information, provide a better browsing experience for users, and give developers new opportunities.
Natural Language Processing (NLP)
In the realm of natural language processing (NLP), computers can comprehend data so that humans can get faster and more relevant results. To meet the demands of users, they become more intelligent.
Natural Language Processing (NLP) is one of the fascinating branches of artificial intelligence. It involves teaching computers to understand human language the way humans do, allowing them to think in symbols and numbers rather than just words.
It can be used in machine translation, speech recognition, natural language search, dialogue systems, text analysis, summarization, sentiment analysis, and video captioning, to name a few.
The user will start to think of a browser as an operating system that executes applications. Plugins will show us documents or videos, but some apps will be capable of much more.
A shopping app, for example, might assist its owner in purchasing a car by gathering data from them and then going out to locate suitable links for the user to visit. Such software should help the user through the purchase process, including haggling a fair price, purchasing insurance, and even getting it registered and delivered.
The Multiverse and 3-dimensional design
Web 3.0 will improve upon 2D web interactions with a more realistic three-dimensional cyberworld. In Web 3.0, websites and services employing three-dimensional design include online games, e-commerce, real estate industries, called the metaverse.
The metaverse is a collective virtual shared space created by the convergence of virtually enhanced physical reality and physically persistent virtual space, including the sum of all virtual worlds, augmented reality, and the Internet.
The metaverse will be a future where we can share information without any barriers and in an entirely seamless way.
For example, when you want to know about a restaurant or an event in your city, you will be able to access it directly with no constraints.
We will be able to visit it in 3-D and walk around freely, look at the menu, visit the kitchen and order the dishes, which will be delivered to your door.
Websites will start transforming themselves from web pages to virtual worlds that interact with one another through technologies such as VR/AR.
As the lines between different platforms continue to blur, Web-based services will provide users with experiences that are currently only accessible through physical travel.
Some of the user’s experiences are going into a virtual world and living in it. They can also choose to share their world with other people.
There will be endless possibilities available to the user, including virtual meetings where participants can shake hands, read body language, and more.
Money will be native on Web 3.0
On Web 3, money is native. Money on Web 3 is no longer restricted by traditional financial networks connected to governments and subject to borders. It will also have token cryptocurrencies, which will create entirely new business models and economies, known as tokenomics.
The idea behind this relatively new type of currency is that there are fixed amounts of tokens, and they can be used for different kinds of services and goods. If the currency becomes popular, the price for the token goes up because it could become scarce in the future.
For example, suppose a grocery store accepts Bitcoin as payment. In that case, they can save money on transaction fees when sending the funds to their bank.
In addition, if their customers have Bitcoin wallets, then customers will buy from them out of convenience rather than paying a foreign currency exchange fee when converting their currency amount in cash.
Web 3.0 users will also be paid in tokens for work they do, things they create, or certain actions they take. By converting tokens into other cryptocurrencies or fiat currencies, they can receive payment for their work.
In the non-blockchain realm, the cost of a credit or debit card transaction is calculated as a percentage of the amount plus a set amount (for example, 10 cents). The seller pays for it. As a result, sellers are hesitant to accept credit card payments for items with low prices.
The cost of a blockchain payment is frequently much lower. In practice, the price varies considerably across different cryptocurrencies because it depends on how the blockchain is structured. An EOS transaction cost $0.0105 in March 2018, while a TRON transaction charged just $0.0000901 (measured in March 2018).
With such little transaction expenses, you may now sell items for a few cents. The fee charged when reading an article from a national or local newspaper, or magazine might be a few cents. With Web 3.0, low-cost sales of products and services will be possible.
Multiple devices and connections
Because of the development of mobile technology and internet access, the web 3.0 experience will be accessible from anywhere and at any time.
The Internet will no longer be on your desktop or smartphone as in Web 1.0 or Web 2.0. It will be all-powerful because almost everything around you is linked to the Internet.
Machines will also be able to come online and interact with their autonomous servers.
The constant advancement of technology has made it possible for people to access various information from various devices.
The future web will make this process much easier as AI will track user preferences and provide answers through a series of questions. From this point on, anyone can create information that can be accessed from anywhere in the world, for free.
There won’t be any need for paper or books as everything one needs will be accessible on their computer screens.
The blockchain has also given rise to numerous new technologies, one of which is digital identities.
Web 3.0 may be defined as a multifunctional ecosystem that connects the masses through decentralization and encryption. The goal is to highlight how Web 2.0 is infested with dark cybercrime deeds of every sort, from identity theft to click fraud.
With web 2.0, a server can’t be sure that the client software requesting access is what it claims to be a browser under the control of an identifiable person. In contrast, neither the server nor the files it is gaining access to are aware of whether they are intended targets.
However, if everything connected with the transaction had an unquestionable identity, fraud and deception would be far more challenging to execute.
Individuals and organizations will have one verifiable identity across all platforms and sites since each ID will be linked to a separate credential, such as a birth certificate, using Digital IDs.
Furthermore, through a cutting-edge technology known as zero-knowledge proof, either party can demonstrate they are genuine without even having to reveal their identity.
How will Web 3.0 be used?
Dapps, or decentralized applications, run on the web without servers and are operated by the people who use them. Unlike the apps we now use, dapps do not rely on an Internet service provider or the mobile carrier for bandwidth and data transmission to operate.
Dapps will only require enough local storage for their operation and transaction capacities.
A blockchain-powered dapp can serve as a software license, a hotel room key, a gift card, a digital representation of a human being to replace paper ID cards issued by governments, and much more.
There are a plethora of Web 3 dapps currently available.
One of the most common and successful dapps is decentralized finance (or DeFi ) tools, which enable consumers to lend and borrow, tokenize real-world assets, make predictions, invest, and trade cryptocurrency assets.
A typical web app, such as Uber or Twitter, operates on a computer system owned and operated by a business, giving the software complete control over its operations. There may be many users on one side, but a single corporation runs the backend.
DApps may operate on a P2P network or a blockchain network. BitTorrent, Tor, and Popcorn Time are examples of decentralized applications that run on computers that connect to a peer-to-peer network and help numerous users share feed or seed content simultaneously.
In the context of cryptocurrency, decentralized apps (dApps) operate on a blockchain network in a public, open-source, decentralized setting, with no single authority having control or influence over them.
It’s conceivable to imagine a developer building a Twitter-like dApp and putting it on the blockchain, allowing anybody to post messages. The messages may not be removed by anyone, including the app developers, even after submitting them.
Better and more relevant information
Most of today’s websites are static, containing information or user-generated content such as forums and social media. While this allows data to be shared with a large audience, it may not meet the needs of each user.
The information provided by a website should customize itself for each user, much like real-world human communication. With Web 3.0, AI, the semantic web, and NLP, this will be possible.
In Web 3.0, a limitless ocean of information will be available to websites and dApps. They will be able to access and utilize that data to make sense for the user.
Computers will be able to analyze all of the data on the Internet — including text, links, and transactions between people and computers. The “Semantic Web,” which makes this possible, will allow machines to conduct routine business processes, bureaucracy, and other day-to-day activities.
More data allows algorithms to process more information, which helps them better satisfy the demands of individuals.
Finding the most significant result used to be very difficult when it came to using search engines. However, they have gotten better at producing semantically relevant results based on the user’s search context and metadata with time.
Consequently, a more convenient online surfing experience can help anybody discover what they’re looking for fast and efficiently.
Let us assume you want to go to the cinema and dine out after viewing a film of a preferred genre. All you have to do is construct a specific sentence, and the search engine will return the solution for you.
For example, “I want to go for an action film and then eat at a great Chinese restaurant. My choices are?” is an example of a search query. The browser will examine the query string, look it up on the Internet, and gather all viable options before returning them in an organized manner.
Improved marketing and privacy
Nobody wants to be subjected to internet advertisements. However, if the advertisements are relevant to one’s interests and demands, they may be helpful rather than a nuisance. Web 3.0 aims to improve advertising by utilizing intelligent AI systems and targeting specific audiences based on consumer data.
One example of upcoming Web 3.0 development is The Brave browser. Brave is a new web browser that aims to give users more control over their browsing experience. It blocks ads and trackers, making it significantly faster.
The Brave Basic Attention Token allows publishers and advertisers to be paid for their work decentralized, so they aren’t at the mercy of a single company.
Examples of Web 3.0 are already available
We may compare Wolfram Alpha and Google by comparing the results for the query “Brazil vs. Argentina” in both search engines, with each tool’s first three pages as a starting point.
Google’s results are mostly about football games between Brazil and Argentina, as shown in the search. Note that the term “football” or “games” was not used in the query.
In Wolfram Alpha, the tool considers that the search compares two nations; therefore, it provides organized statistics, historical, geographical (maps), demographic, linguistic, and other relevant information for comparative analysis.
Another example of Web 3.0 is:
The AR Cloud
According to the Open AR Cloud Association (OARC), a 3D digital replica of the world is the most basic definition of the AR Cloud.
Spatial experiences may become more immersive, accurate, and connected by generating 1:1 scale digital models that are machine-readable, updated in real-time, and linked to precise geographic location data.
In the end, its creation aids in our capacity to completely erase the line between digital and physical items. Various firms are now working toward its implementation.
Physical locations and digital twins will be mapped for everything: cities, rooms, retail spaces, and public areas. Once maps are in place, locations in space can be defined, and new kinds of transactions and interactions.
When people and things traverse these maps, it should become feasible to collect a wealth of previously unseen information about individuals and processes.
Siri, for example, employs speech recognition and artificial intelligence to provide responses and execute activities such as:
“How do I find the nearest pizza parlor?” or “How far is it to the closest gas station?” or “make an appointment for 9:00 a.m. tomorrow.” Above all, Traditional methods (Web 1.0 and 2.0) rely on word-by-word matching of the text
On the other hand, knowledge is contextualized in Web 3.0 systems to assist individuals in their occupations with a series of research and potentially helpful information.
One of the distinctions between Web 3.0 search engines and traditional search engines is how long a user must spend plowing through a sea of information to discover what they truly need.
Some of the most popular daaps are:
Defipedia is a wiki for collaborative knowledge projects that anyone can edit, including the text and images from Wikipedia articles. Entries are tagged using keywords from open-source ontologies to make connections between entries more explicit by decomposing concepts into their essential components.
The idea behind Defipedia was first introduced in an article about how to use wikis for knowledge management.
Golem is a decentralized, open-source supercomputer that anybody may use.
The computing power of Golem comes from the aggregate energy of all the computers that contribute to it.
Users may also rent out their computing resources to other people, allowing the network to essentially build a global market for computing power due to this vast computational capacity.
Augur is a decentralized application that aims to create a forecasting tool that will help traders make more profits. It would accomplish this by integrating prediction markets with a decentralized network.
Melonport is a DApp that aids in the management of digital assets.
People may create or invest in digital asset management methods using the app’s technology openly and competitively.
The application provides an auditable and visible track record, allowing for a new approach to asset management.
EtherTweet is a decentralized microblogging service comparable to Twitter.
Because EtherTweet is a DApp, content published to it cannot be deleted. This makes it an unaltered, uncensored record of blockchain-based content publication.
The Internet development has been a long road, and it will undoubtedly continue in new directions. Websites and applications can shift to a web that provides a far better experience to an ever-increasing number of people worldwide as data floods in.
The Internet is unquestionably the most significant invention in the history of humanity. Despite its age of nearly two decades, it is yet to realize its potential. Some claim that the current status of the Internet is comparable to that of the automobile industry a century ago when it needed significant improvements.
Imagine a world where the Internet interprets and makes sense of everything you tell it, whether through text or speech, An Internet that provides results more suited to your tastes than ever before. And an internet free from the clutches of large organizations.
Web 3.0 will allow for creating a more intelligent world that is self-sustaining and coexistent with other technologies.
It will be a global, digital environment where people can live a comfortable life without worry. The Internet will have become so interconnected that it’ll be impossible to tell the difference between reality and virtual reality.
Web 3.0 feels like a futuristic manifestation of what society has been anticipating for decades now — the realization of all our science fiction dreams as well as our nightmares.