The generation of the internet in which websites and apps can process information in a more human-like manner or intelligently. They will be able to be smart with the help of technologies like Artificial Intelligence (AI), Big Data, Blockchain, and Machine Learning (ML).
The defining features of Web 3.0 are openness, accessibility, incredible user utility, democratization, and decentralization. Coined by Ethereum co-founder Gavin Wood in 2014 the term Web 3.0 soon caught the attention of cryptocurrency enthusiasts, VC firms, and tech companies.
What Is Web 3.0?
In the semantic web, the data is analyzed and interpreted in terms of context, concepts, and relatability. Because of this, Web 3.0 applications can provide the most accurate and relevant results to the end-users.
Data are connected in a decentralized way – usually in a blockchain. This is a major leap forward from the current Web 2.0’s centralized architecture.
Web 3.0 is going to be considerably more secure, scalable, and offer better privacy for users. Most big tech companies make insane profits by exploiting user data as users have little to no control over it.
Web 3.0 will make it possible for users to have greater control and if they wish to share the data then to be compensated for it. As a result, users will retain privacy and ownership of their data while making it available for companies to target them.
Web 3.0 will also allow sites and applications to use data more effectively and tailor information to individual users.
Evolution of the Web 3.0 Technologies
Many experts believe that though earlier generations of WWW helped reach here, Web 3.0is a clean break from the older generations’ web tools. There are many fundamental differences between Web 3.0 and the older generations to ignore.
When combined with cutting-edge technologies like AI, ML, and Blockchain, the Web 3.0offers a new way of doing things rather than just an upgrade. The features, applications, and promises are from a different world.
The Difference Between Web 1.0, Web 2.0 & Web 3.0
Also known as the static web, it came into being in 1989 at CERN by Sir Tim Berners-Lee. Some people think its era came to an end in 2005.
Despite only providing access to limited and static information and little to no user interaction, it was the first experience of sharing data with the masses in a reliable manner. Initially, there was no such thing as creating user pages or even commenting on articles back then.
For many years, Web 1.0 consisted of the following technologies:
- HTTP (Hypertext Transfer Protocol)
- HTML (Hypertext Markup Language)
- URL (Uniform Resource Locator)
The term Web 2.0 was first used in 1999 by Darcy DiNucci in her article “Fragmented Future.” By the late 1990s, the explosion in dynamic websites and custom-made services became inevitable.
The development of server-side scripting languages, client-side scripting languages, and styling languages all contributed to its growth. Most of us are familiar with this stage of the web.
By the late 1990s search engines, social media platforms, and blogs started to come up. By the early and mid-2000s, even on-demand video services were available.
Online discussion forums enabled people by connecting them with like-minded people and sharing their content. Web 2.0 was a platform for interaction instead of only read-only access. Instagram influencers, Yelp reviewers, on-demand services, and social proof dominated this era.
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John Markoff, an NYT reporter, coined the term Web 3.0 in the year 2006.
As the new cutting technologies came, the Web became smarter, decentralized, and open. Applications can now process information with intelligence that sometimes surpasses human limits.
The concept of the semantic web goes back to Sir Berners-Lee’s original idea that there is no central authority, and no approval is required. But it takes an entirely different approach by making it nearly impossible to force centralized control over the internet.
One of the most defining technologies of this era is blockchain– a decentralized ledger of millions of nodes and data. The new Web 3.0 would be seamlessly integrated into our lives with homes appliances “talking” to it directly.
Both humans and machines will generate, consume, and process data on the internet and collaborate in the decision-making process.
Features and Importance of Web 3.0
The four key features of wen 3.0 are:
- Semantic Web
- 3D Graphics
Semantics is the study of relationships between words, patterns, and data. In a semantic web, machines can analyze and establish relationships, just like humans do, between information on it.
A semantic web would consider both of the following two sentences same:
- I love Programming
- I <3 Programming
Semantics would help web apps to decode meaning, emotions, and hidden patterns to deliver a better online experience.
Web 3.0heavily relies on AI techs like Big Data, Data Analytics, Machine Learning, and Deep Learning. Apps and sites are getting smarter to understand the mood, emotions, and expressions of their users. Some websites are so advanced that they can even understand sarcasm!
In Web 2.0, this was mainly a human-driven rules-based process susceptible to corruption, bias, and oversight. The process was also too slow to meet the increasing demands of millions of users.
Ubiquity refers leads to accessibility, openness, transparency, and innovation. Not only the people with resources, but those with limited resources too can make use of Web 3.0 services.
As most of the processing is done at the backend, users can use even simple and cheaper devices to connect and transact.
Spatial and 3D Graphics
Web 3.0 is going to be more spatial thanks to 3D graphics and AR/VR innovations. The lines between the real world and the cyber world have started to blur as multiple new 3D virtual worlds evolve.
Immersive technologies like Augmented Reality (AR) and Virtual Reality (VR) are used in gaming, medicine, engineering, tourism, education, and many other areas.
The Connection Between Web 3.0 and Blockchain
Blockchain technology is transforming the way we live, think, connect, transact, and work. Many futurists consider it the biggest tech revolution after the internet itself.
Blockchain offers multiple options for revolutionizing enterprise processes by way of smart contracts, digital safekeeping, and transaction processing. One of the most significant features of blockchain is its decentralized nature. Many concerns arising out of the centralized design of Web 2.0, such as control, and data integrity, are automatically addressed.
The use of AI, ML, IoT, and data analytics along with blockchain is revolutionizing the way data is stored, managed, and processed. The internet itself becomes a transaction settlement exchange with no need for a central authority. This is one of the reasons for the emergence and popularity of cryptocurrencies.
The elimination of the need for trusted intermediaries reduces transaction time and costs while making them more secure. Blockchain also allows networks to collectively remember user interactions, making them smarter and better.
How Blockchain’s Web 3.0 Would Impact Businesses
Whatever you feel is wrong with current business practices – unresponsive service teams, pesky sales calls, too many choices and none of them suitable for you, and an overarching fear of being fleeced out – has a solution in Web 3.0 with blockchain at its core.
Technology has affected the way people do business, interact, share ideas, and communicate. Blockchain can make businesses transparent, open, accountable, smart, user-centric, and responsive.
The new technologies can help businesses find answers to questions that are elusive. Some of these could be:
- As the privacy rules tighten, how will we market our wares?
- As users are more concerned about security, how do we provide it?
- What are the ways to know what a customer might want and deliver it efficiently?
- How can we customize a solution to meet their unique needs?
How will Web 3.0 Impact Marketing?
Marketing has also transformed with all versions of the web. From display ads to today’s targeted remarketing – digital marketing has evolved with technology.
Web 3.0 marketing focuses on multiple aspects and not just search engine optimization (SEO). Though SEO remains an integral part of digital marketing, there are other measures available too.
Opportunities to connect with the users in unimaginable ways, predicting their demands, offering them immersive experiences, and reaching out to them are the new tools.
Marketers can now deliver more targeted services and ads to their consumers.
Digital marketing in the age of Web 3.0:
- A decentralized structure makes businesses highly user-centric and transparent.
- Marketers would have more options to engage with users.
- Blockchain ensures data security and accessibility.
- Immersive technologies allow innovative marketing.
- Privacy and control of data would be in the hands of users.
- Metaverse opens a new marketing opportunity digitally.
Impact of Web 3.0 on eCommerce
Now that we have established that blockchain is an integral component of marketing and sales successes, we should now focus on eCommerce.
Web 3.0would help developers and marketers take advantage of the extensive social networks of their users. With blockchain, AI, and analytics at the service of marketers, eCommerce can see the growth that we have not witnessed yet.
With highly customized targeting, to suit the needs of each shopper, a marketer could offer the best solutions and services. Order delivery, tracking, returns & refunds, after-sales service, feedback, and customer loyalty could be revolutionized by these technologies.
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Impact of Web 3.0 on Web Application Development
Web 3.0 has transformed the web application development industry in unimaginable ways. The transformation is still underway and there is still too much steam left to ride the wave of development.
Here are some of how Web 3.0 has impacted web application development:
1. AI Integration
The advances in Artificial Intelligence and related technologies are underway to make them efficient, cost-effective, and smarter. The “Intelligent Web” today combines AI techniques with core web technology such as web services, web applications, and apps.
2. Semantic Web
The self-describing nature of the semantic web gives the trillions of gigabytes of data context and understanding. The self-describing nature of the web is leveraged by web developers to make apps smarter and help users find what they are looking for.
Unlike Web 1.0 and Web 2.0, where internet access was restricted to your PC or smartphone, Web 3.0would be the web of everything.With IoT and 5G connectivity, the devices would seamlessly become part of your lives.
4. Metaverse Development
Metaverse development has become a reality and multiple projects are underway and being launched every week. Metaverse is best poised to take advantage of Web 3.0 with blockchain to connect the virtual world with the real.
5. Immersive 3D Graphics Integration
The graphics are becoming sharper and immersive with 3D and spatial/temporal cognizance. In the transition from 2D to 3D, Web 3.0is leaving its significant impact on the internet’s future by making the world immersive.
The independent nature of the semantic web allows Web 3.0 to create an independent, intelligent, and open network. Whether you are in flight, walking, trekking, or on open seas, the will be seamless connectivity.
Best Web 3.0 Applications
Web 3.0 is already being deployed to a variety of uses and apps in multiple industries. The cutting-edge technologies increase productivity and enhance customer satisfaction.
Let us examine some of the best applications:
1. Siri, Alexa, and Google Assistant
The voice assistants from the top three tech companies in the world – Siri from Apple, Alexa from Amazon, and Google Assistant from Google – use the semantic web. This software leverage voice recognition and natural language processing to help users do things they could not do earlier. Today these assistants can offer answers to a variety of questions from their users.
If it were a nation, it would be the most populous one on the earth. The leading social network platforms Facebook and Instagram from the Meta are increasing in their reach exponentially and impact users’ lives daily. Users find and create new communities and bonds with the help of Web 3.0 technologies. Apps build around the Facebook universe further increase customer interaction and engagement.
The photography and photo-sharing website Flickr allows users to search, create, upload, and share their pictures with people they care about. With over 17 million active visitors per month, Flickr has one of the largest public databases with thousands of categories and billions of photos in them.
4. Wolfram Alpha
By 2022, Wolfram Alpha aims to be a leading Web 3.0 application. It is a product from Wolfram Research that offers a computational knowledge engine to help visualize the information gathered from online databases. It is used to give direct answers rather than listing web pages like a search engine. Based on the ingenuity of the knowledge it can give you better information in less time than even Google Search Engine.
The future of the Internet
Web 3.0 creates an ecosystem for users, by users, and of users. The end-users would be in complete control of their data on the internet and will drive the business of the future.
The creator-driven economy where creativity, innovation, and uniqueness rules would be supported by technologies of Web 3.0. according to use, the future of the internet is bright because of the following reasons:
- More trustworthy because of decentralized public records
- No more dependent on centralized authorities and data repositories
- Personalized interactions with users
- Faster and superior search results driven by AI
- No more dependency on mediators
- More peer-to-peer communication and connectivity
More personal and customized web browsing experience coupled with a smarter web would hopefully usher in a more equitable internet. Empowerment of users will be the most significant feature of Web 3.0 as they would have control over their data.
As dApps (decentralized applications) and DeFi (decentralized finance) gain momentum we will see more industries affected by AI, ML, IoT, and related technologies.
Frequently Asked Questions for Web 3.0
- What is Web 3.0 all about?
It is the third generation of internet services with a focus on data-driven,smart, and services-based design. Web 3.0 is for the users, by the users, and of the users.
- What is Web 3.0 also known as?
Web 3.0 is also known as the Semantic Web where the web apps can recognize, understand, perceive, and respond according to user needs.
- What is Web 3.0 and why does it matter?
Web 3.0 uses technologies like AI, ML, blockchain, and immersive graphics to deliver the next-level user experience. It would benefit users and industries alike and will undermine the dominance of a few digital giants. It will make the internet more equitable, open, and just.
- Is Web 3.0 built on blockchain?
Blockchain technology provides the foundation for Web 3.0 along with decentralized data storage, IoT, AI, and ML.
- Is Web 3.0 a blockchain?
A blockchain is a cryptographic public ledger of any records stored on multiple public servers. No one server has the complete set of records therefore, no one company can control or manipulate it. So, in a way Web 3.0 leverages blockchain.
- When did Web 3.0 start?
The term Web 3.0 was first used in 2006. It refers to a set of technologies that can build something called the “intelligent web.”
- Is Web 3.0 the same as blockchain?
No, blockchain has many use cases like cryptocurrencies and NFTs. Web 3.0 also uses blockchains but there are other technologies as well.
- What is a Decentralized Web App?
A decentralized application (dApp) uses a peer-to-peer network or a blockchain to execute instead of running on a single server. dAppsare the way forward to democratize the internet again.
- How Web 3.0 Will Create New Business Models?
With users' data stored on the blockchain and under their control, businesses would have to now partner with them, instead of using them just as customers. This would make companies open, transparent, and accountable.
- What is Semantic Web Technology?
A semantic web allows processing and deciphering the linked data using intelligent systems and recognizing patterns, meanings, and knowledge in them at scale.