Web 3.0 is a thing that cannot be ignored in the current scenario. It may revolutionize every aspect of the internet. For example, it has revolutionized finance by introducing cryptocurrency, and soon it is going to impact the way we interact with our friends and relatives through the metaverse.
People like Mark Zuckerberg who understood how to use Web 2.0 in its initial stages are currently running the Web 2.0 world and soon Web 3.0 will overtake Web 2.0. Those who understand the new form of the internet may gain a major advantage, and this article provides some important information regarding this.
Web 3.0 is nothing but the third generation of the internet. The fundamental difference between Web 2.0 and Web 3.0 is the way both systems store data. For example, Web 2.0 stores data in a fixed location that can be found using HTTP which is a unique web address. However, in the case of Web 3.0, data is stored at multiple locations at the same time.
Web 3.0 uses many advanced technologies like artificial intelligence, Machine learning, decentralized ledger technology, and many more to process information in a smart human-like way. All the data in Web 3.0 will be interconnected and furthermore, the users and machines will also start interacting with this wide variety of data.
Blockchain will fully transform the way of doing business. The use of blockchain has already started in a wide range of industries. For example, The government of Kenya has proposed a new blockchain policy in the parliament of Kenya and soon it will start using it in business and industries in order to make the country more technologically advanced. NFTs will have real-world uses. We currently consider NFT as a token that represents ownership of digital assets but soon, many physical assets could also be registered in our name in the blockchain.
Web 3.0 will result in a major power shift. 3.0 will work on a decentralized system which will result in the power being handed over to the users. Now the power will not rest solely in the hands of big organizations and authorities. In Web 2.0, most of the sites are owned by major tech giants such as Google, Meta, and Microsoft. This means that these companies have a lot of power and they can misuse this power. It will solve this problem of centralization.
Additionally, Web 3.0 will become the base of building the metaverse as all of the digital land, buildings, paintings, and even wearables could be traded only with the help of Web 3.0.