Abstract

Internet technology has been constantly developing and innovating. So far, we have experienced Web 1.0 and 2.0, and have launched a lively discussion around the prospects of Web 3.0. Web 1.0 provided users with a static experience, but it did not allow for the creation of content-rich websites like today. Web 2.0 uses social media and dynamic websites to bring us together, but at the cost of centralized management.

Web 3.0 seeks to give us control over online information and create a semantic web. This means that machines will easily read and process user-generated content. Blockchain will provide support for decentralization, provide free digital identity through cryptocurrency wallets, and bring about an open digital economy.

The available 3D solutions will provide us with a more immersive way of interacting with the network. Users can also browse efficiently, insert relevant ads and improve customer support. Some of the most used Web 3.0 technologies also feature virtual assistants like Siri and Alexa, as well as connected smart homes.

Introduction

In the past two decades, the Internet has undergone tremendous changes. We've evolved from Internet Relay Chat (IRC) to modern social media platforms. Evolve from basic digital payments to sophisticated online banking services. We’ve even experienced new internet-based technologies like cryptocurrencies and blockchain. The Internet has become an important part of human interaction and connection and will continue to grow. So far, we have seen Web 1.0 and 2.0. What kind of surprises will Web 3.0 bring us? Let's dig into the details and see what Web 3.0 has to offer.

What is Web 3.0?

Web 3.0 (also known as Web3) is the next generation of Internet technology that relies heavily on machine learning, artificial intelligence (AI) and blockchain technology. This statement was first put forward by Gavin Wood, the founder of Polkadot and the co-founder of Ethereum. Web 2.0 focused on hosting user-generated content on decentralized websites, while Web 3.0 can give users greater control over online data.  

This capability is designed to create open, connected, intelligent websites and web applications and improve machine-based data understanding. Decentralization and the digital economy also play an important role in Web 3.0, allowing us to assign value to the content created on the web. We should also understand that Web 3.0 is an ever-changing concept. Regarding its definition, it can be said that benevolent people have different opinions and wise people have different opinions.

How does Web 3.0 work?

Web 3.0 aims to provide personalized and user-relevant information faster through the use of artificial intelligence and advanced machine learning technology. The development of smarter search algorithms and big data analytics means machines can intuitively understand and recommend content. Web 3.0 will also focus on user ownership of content and support an accessible digital economy.

Current websites often display static information or user-driven content, such as forums or social media. Although users can obtain data, it does not meet the needs of specific users. Websites should provide information tailored to each user, just like real-world human communication. In Web 2.0, users lose ownership and control of this information once it is online.

Another key figure in the Web 3.0 concept is the inventor of the World Wide Web and computer scientist Tim Berners-Lee. He proposed his vision for the Internet in 1999:

I have an Internet dream: I hope that [computers] can analyze all data on the Internet, including content, links, and people and computers. transactions between. The "Semantic Web" that can facilitate this dream has not yet been formed, but when it does, the everyday mechanisms of trade, red tape, and our daily lives will be solved through communication between machines.

It was from then on that Berners-Lee began to incorporate Gavin Wood’s ideas. Websites and applications can make use of vast amounts of decentralized information. They will understand this data and apply it meaningfully to individual users. Blockchain serves as a solution to manage this online identity, data and ownership in a fair manner.

A brief history of web development

To better understand Web 3.0, let us take a look at its development history and current status. Over the past twenty years, we have experienced tremendous changes:

Web 1.0

We call the experience provided by the original network Web 1.0. The term was coined by writer and web designer Darci DiNucci in 1999 to differentiate between Web 1.0 and Web 2.0. In the early 1990s, websites were built with static HTML pages that could only display information. Users cannot change data or upload their own data. Social interaction is limited to simple chat communication programs and forums.

Web 2.0

In the late 1990s, the transition to a more interactive web began. With Web 2.0, users can interact with websites through databases, server-side processing, forms, and social media. These tools transform the web experience from static to dynamic.

Web 2.0 places more emphasis on user-generated content and interoperability between different sites and applications. In the Web 2.0 era, users need to be involved, not just static observers. By the mid-2000s, most websites transitioned to Web 2.0, and large technology companies began creating social networks and cloud-based services.

Web 3.0 and future prospects

Looking back at the history of the Internet, the evolution of Semantic Intelligent Network has a reasonable trajectory. Initially, data is presented to the user in a static manner. Users can then dynamically interact with that data. Algorithms will now use all that data to improve the user experience and make the web more personal and familiar to operate. Just browse YouTube or Netflix to understand the power of algorithms and how they improve.

Although Web 3.0 has not yet been fully defined, it can leverage peer-to-peer (P2P) technologies such as blockchain, open source software, virtual reality, and the Internet of Things (IoT). Web 3.0 also aims to make the Internet more open and decentralized. In the current framework, users rely on network and cellular providers for the use of personal data and information. With the advent of distributed ledger technology, this could soon change, allowing users to take back ownership of their personal data.

To understand the main differences between Web 1.0, 2.0 and 3.0, please refer to the table below:

Key features of Web 3.0

Web 3.0 is still far from being fully adopted, but its core concepts are basically clear. The following four topics are often cited as the most important aspects of the future of Web 3.0.

Semantic Markup

Machines are gradually getting better at understanding the data and content created by humans. However, we are still a long way from creating a seamless experience that fully understands semantics. For example, in some cases, the word "bad" may mean "good". It can be very difficult for a machine to understand this. However, as people delve into big data and more information, artificial intelligence is starting to better understand and visually represent what we write on the web.

Blockchain and Cryptocurrency

Data ownership, online economics and decentralization are important aspects of the Gavin-Wood Web3 contract. We’ll explore this topic in detail later, but blockchain provides a proven system for achieving many of these goals. Anyone can convert assets into tokens, store information on the chain and create digital identities, which is a major innovation for Web 3.0.

3D visualization and interactive demonstrations

In short, the appearance of the network will change dramatically. We've already seen a move toward 3D environments that include virtual reality. The Metaverse pioneered this type of experience, and we're already familiar with socializing through 3D video games. The field of user interface and user experience is also working on presenting information in a more intuitive way for web users.

Artificial Intelligence

Artificial intelligence is the key to converting human-created content into machine-readable data. We’ve become accustomed to customer service robots, but this is just the beginning. AI can both present data to us and sort it, making it a versatile tool for Web 3.0. Best of all, AI will learn on its own and continually improve, reducing the work required for future human development.

In what ways is Web 3.0 better than its predecessor?

In theory, the combination of key features of Web 3.0 will bring many benefits. Don’t forget, these will all depend on the success of the underlying technology:

1. No central point of control - The intermediary has been removed from the complex and will no longer control the user data. This freedom reduces the risk of government or corporate censorship, making denial-of-service (DoS) attacks less effective.

2. Enhanced information interconnection-As more and more products are connected to the Internet, larger data sets provide more data for analysis by algorithms. Helps provide more accurate information to meet the specific needs of individual users.

3. More efficient browsing - When using search engines, it is sometimes difficult to find the best results. But over the years, search engines have come a long way in finding semantically relevant results based on context and metadata. This makes the web browsing experience more convenient, helping anyone easily find the exact information they need.

4. Improve advertising and marketing-No one likes to be bombarded with online ads. However, if these ads are relevant to your needs, they may not be so annoying and may even be helpful. Web 3.0 aims to leverage smarter artificial intelligence systems and target advertising to specific audiences based on consumer data.

5. Stronger customer support- Customer service is crucial to providing a smooth user experience for websites and web applications. However, many successful Web services have struggled to scale customer service operations due to high costs. With the use of smart chatbots capable of talking to multiple customers simultaneously, users can enjoy a superior experience when dealing with support agents.

How does cryptocurrency fit into Web 3.0?

Blockchain and cryptocurrencies have huge potential in Web 3.0. Decentralized networks successfully provide incentives for more responsible data ownership, governance and content creation. Aspects that are highly relevant to Web 3.0 include:

1. Digital Cryptocurrency Wallet - Anyone can create one that can be used to transact and act as a digital identity wallet. No need to store your details or use a centralized service provider to create an account. You have full control over the wallet, and the same wallet can often be used across multiple blockchains.

2. Decentralization-Through the blockchain, information and power can be transmitted transparently among a large group of people. This is in stark contrast to Web 2.0, where big tech giants dominate significant areas of our online lives.

3. Digital Economy- People are able to own data on the blockchain and use decentralized transactions, and a new digital economy emerges. These enable us to easily evaluate and transact goods, services and content online without the need for banking or personal details. This openness helps make financial services accessible to more people and helps users start making money.

4. Interoperability-DApps and data on the chain are becoming more and more compatible. Blockchains built using the Ethereum Virtual Machine can easily support each other's DApps, wallets, and tokens. This helps increase the ubiquity required for connected Web 3.0 experiences.

DeFi 3.0 use cases

Although Web 3.0 is still under development, we can also give some ready-made examples:

Siri and Alexa Virtual Assistants

Apple’s Siri and Amazon’s Alexa both offer virtual assistants that check many Web 3.0 boxes. Artificial intelligence and natural language processing help both services better understand human voice commands. The more people use Siri and Alexa, the more their artificial intelligence improves their recommendations and interactions. This makes it a perfect example of a semantically intelligent web application in the Web 3.0 world.

Interconnected Smart Home

"Ubiquity" is a key feature of Web 3.0. This means we can use our data and online services across multiple devices. Today, systems can intelligently and connectedly control your home’s heating, air conditioning, and other utilities. A smart home can tell when you leave, when you come home, and your preferred room temperature. It can use this information to create a personalized experience. No matter where you are, you can access the service via your mobile phone or other online device.

Summary

The development of the Internet is a long process and must be Will continue to iteratively develop. With the explosion of available data, websites and applications are moving toward a more immersive web experience. Although Web 3.0 has not yet been specifically defined, it has taken steps of innovation and its future development direction is obvious, and blockchain is bound to become a key part of the future of Web 3.0.