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The main features of web 3.0

December 30, 2022

Web 3.0 is one of the most critical technologies currently in development. However, it’s not always easy to understand, like many advanced technologies. Especially for beginners, finding out what web 3.0 is and its features may be difficult. Thus, today we are going to explain web 3.0 with examples so that you can get a clearer picture.

The General Foundation of Web 1.0, Web. 2.0, Web 3.0

To understand the features of Web 3.0, firstly, we need to know the fundamental differences between web 3.0 and web 1.0 & 2.0.

Web 1.0

Web1 was the original web conceptualised by Tim Berners-Lee in the 1990s developed to democratise access to information. The early Web can be envisioned as a “read-only” medium. Web 1.0 was closer to a book than an interactive experience. The most interactive element of Web 1.0 is shopping cart systems. True interactivity didn’t come until Web 2.0.

Web 2.0

Also called the dynamic web, Web 2.0 added intractability and personalisation to the Web1 model. Users can share and collaborate with Web 2.0. It gave rise to large social networks like Facebook, Twitter and Instagram, making the web a more engaging place for its users. Under this model, users can create data and not just consume it.

Web 3.0

Tim Berners-Lee describes Web 3.0 as "read-write-execute." It is a version of the web that gives users the power to create and execute tools and software, rather than depending on other people for software.

The ownership in the web3 is represented by tokens and cryptocurrencies. Possessing them allows users to decide what they want to consume and what data (and with who) they want to share. We can even say that web3 brings us back to the web1 period as it relies mainly on the individualized utility (compared to the social networks in web2). However, this time it’s not the content/website provider who owns and manages the Internet. It’s the people.

The Most Important Features of Web 3.0

Web 3.0 is different from its predecessors. It is a new idea that believes the web to be an ecosystem benefitting its users.

Decentralization

One of the main features of Web 3.0 is that information is not centralized in one single server as it is in Web 2.0, meaning users have more control over their data and can enjoy a secure and safe Internet experience. With big corporations such as Facebook and Amazon misusing people’s personal information, hindering economic growth, and easing spying operations, the need for a decentralized web forum that grants these large companies less dominance over users has been empirical. In that case, peer-to-peer connectivity will allow accessing content based on content stored in multiple systems simultaneously. Easy access to information from third parties will no longer be an option.

AI and Machine Learning

AI is a form of machine learning which lets computers act as semi-autonomous agents. Web 3.0 finally turns this potential into reality. At the moment, a lot of this power is going into commerce. One of AI’s biggest strengths is pattern recognition. Machine learning is excellent at comparing spending patterns to determine what products people would like. But the future of AI in Web 3.0 is limitless.

Anything that requires decision-making can benefit from AI’s access to unlimited information and blindly fast speeds. Even sectors like medication development and manufacturing are starting to see solid returns from AI-powered systems.

Connectivity & Ubiquity

In Web 3.0, semantic data, which describes this data’s values and concepts, allows the information to be much more connected and ubiquitous. Consequently, computers and smartphones will not be the only devices that can connect to the Internet, but new kinds of intelligent gadgets will be produced and developed due to the Internet of Things (IoT). This means it will be accessible anywhere and at any time.

Trustless & Permissionless

Apart from being decentralized, users will have the ability to use a permissionless and trustless Web 3.0 experience. This network allows people to engage and interact directly, both publicly and privately, without going through any third party that might endanger their data. In addition, producers and consumers of content will not have to get permission from a powerful organization that controls their Internet experience.

Blockchain

The whole concept of Web 3.0 is centered on ensuring the safety and security of users’ data, as well as providing them with full control over their personal information. Blockchain is a crucial part of it as they ease storing data in numerous copies of the P2P network. This makes it nearly impossible for hackers to access people’s information since they should break into countless houses around the world to get their hands on the data of a single house.

Crypto

In the world of Web 3.0, crypto players will get the maximum attention. As mentioned, the third generation Internet depends on blockchain technology. Cryptocurrencies will play an integral role in helping tech people develop decentralized apps. Therefore, crypto goes further than financial superpositions to being directly connected to the Internet and will converge in a close relationship with it and blockchains.

Benefits Of Web 3.0

Web3 is definitely the future which no one can stop. It aims to empower the users and protect their privacy and data on the web, ultimately resulting in a fair and equal internet for everyone.

Here are some of its benefits:

User privacy and security – with no central authority controlling user data;
The end of internet censorship – as there will be no central authority controlling content on the network;
Decentralisation – the network will be owned by its participants and no one else;
Monetisation – users can get paid for their contributions on the network;
Better content management – users will have full control over what they add to the network and how it is used;
An equal and fair web – where everyone has the same or equal opportunities.

Web3.0 Examples

To help you have a further understanding of web 3.0, we will introduce some examples of Web 3.0.

Brave Browser

Brave is a web browser focused on user privacy and is headed by the former CEO of Mozilla, Brendan Eich. This browser is powered by the Basic Attention Token (BAT).

Brave browser pays users for their attention while they surf online. It protects user privacy by blocking trackers and ads that follow them across the web. Users are also paid in BAT for their attention when they see an ad on the browser.

Another interesting thing about Brave is that it is decentralised, with different nodes serving content to browser users.

Facebook

Facebook is one of the leading voices in Web 3.0. It’s putting a huge amount of development and focus on the metaverse. However, they’re also notable for creating APIs that let developers leverage existing Facebook data into new platforms. The existing API also makes it easier for developers, in and outside Facebook, to extend social communities into Web 3.0 spaces. The API is so popular that an estimated 300,000 Facebook applications use it.

For more details, or just want to say hi, feel free to send us a note at marketing@ipeakoin.com or https://t.me/ipeakoin (Telegram).

iPeakoin, a fintech company that builds an institution-grade global cash management platform, is committed to bridging the gap between traditional finance and crypto, and to providing a one-stop shop for diversified and globalized cash management with technology.