WEB 3.0 – THE FUTURE OF THE INTERNET

Web 3.0 - The Future Of The Internet

Web 3.0 is the new talk of the town. In simple words, we can say that Web 3.0 (or Web 3) is the third generation of the internet. When the internet first came into the 1990s, its applications were termed Web1. Those were static read-only pages, and you could not do much with them. Yahoo and Britannica Online used to rule the internet back then, and users could only consume the information provided. The era of the 2000s bought Web2, a more interactive internet. Websites used some high-level languages in programming, and a whole new level of the internet came into the scene. Users could now access social media, e-commerce, and streaming platforms. Facebook, Amazon, and Netflix grew into unicorns. But that isn’t it; there is even more to come. Web 3.0 is all set to create its mark in the internet arena.

DECENTRALIZED SYSTEM

Web2 follows a server-client structure. We use different applications/websites to perform other functions, which are all centralized. These centralized corporations control all these functions from behind the scenes. Through this centralized system, several corporations have created their monopolies. Web 3.0 promises a decentralized system. An example of this new system is blockchain technology, which is already prevailing. For instance, in Web2 money transfers, you needed banks in the middle as intermediaries. Your data met the bank’s centralized system, and you had to rely on their accuracy and execution. Web 3.0 will use a decentralized system such as the Bitcoin blockchain. You would not need an intermediary, and you will become the sovereign controller of the transfer of your payments.

EXAMPLES OF WEB 3.0 APPLICATIONS

Web 3.0 is yet to make its official mark, but its applications are all over the internet. All these cryptocurrencies you see are following a blockchain. The most significant of those is Bitcoin and Ethereum blockchains. Moreover, DeFi tokens and Nuts are some other examples of Web3 applications.   

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