Web 3.0 is more than just investing. Basically, web 3.0 is based on blockchain technology because these days everyone is investing in cryptocurrencies like Bitcoin, Ethereum, and NFTs.
Web 3.0 offers a very personalized browsing experience to everyone across the globe. Websites are such that they can automatically customize themselves based on the best-fit people’s prevailing device, location, and accessibility requirements. Web 3.0 is more than just investing. Basically, web 3.0 is based on blockchain technology because these days everyone is investing in cryptocurrencies like Bitcoin, Ethereum, and NFTs.
A digital economy is not a very simple and industrial economy on the internet. With the immersion of a new competing revolution, we are building an interactive, virtual world where humans appear and function in the form of digital avatas. Numerous upcoming technologies such as blockchain (web 3.0), cryptocurrencies, augmented reality, virtual reality, and non-fungible tokens are responsible for the next generation of the internet, Web 3 or 3.0, a version of decentralized technology of the internet also called the meta-verse.
The concept of an independent system where each individual manages their own data and exchanges value as desired is one that has drawn many people to contribute toward it. Every day billions of people use the world wide web (www) to read, write and share information. The web has changed over the past few years and its current applications are nearly recognizable from its early days. This evolution of the web is frequently divided into three stages- Web 1.0, Web 2.0, and Web 3.0.
Web 3.0 which is known as Web 3 is an idea for a new iteration of the world wide web-based on blockchain technology. In the early days, the read-only web was developed which is now considered Web 1. Later, the internet became more interactive with some read and write features that include the important features called social media that got termed as Web. 2.
Web 3 is popularly termed semantic; the wave is the era that alludes to the web feature. Web 3.0 (Blockchain) is a system that records information in such a way that it becomes very difficult and almost impossible to hack or change by anyone. It is also known as a distributed ledger. With the help of machine learning and artificial intelligence, computers can analyze data the same as humans do. In Web 3.0 the main focus will be user empowerment through privacy and policy.
Web 3.0 will be based on technology like artificial intelligence, machine learning, and blockchain technology. Web 3.0 will make use of 3D graphics as well.
Features of Web 3.0
- Decentralization of the data
- Artificial Intelligence
- 3D Graphics
- Ubiquity/ metaverse
Advantages of Web 3.0
- Person will get more data with more privacy and security that can be shared by people and enterprises.
- The end-users will regain complete ownership and control of their data and have the security of encryption.
- Anyone can access the data from anywhere in the world. It ensures that the user can have access to the information as much as possible.
- Minimum service disruption, as there is no single point of failure. The data will be stored on the distributed nodes to ensure redundancy.
- Multiple backups will be there to prevent server failure.
- No one can control the identities of others. A trusted platform is provided by the blockchains like Ethereum. In this technology, the data is fully encrypted, also the rules are unbreakable.