The next internet revolution is in the works, and it aims to give users more control over web content. Web 3.0, which will be built on blockchain—the technology that underpins bitcoin and other cryptocurrencies—aims to eliminate all major intermediaries, such as centralised governing bodies or repositories.

Simply put, Web 3.0 eliminates the need for separate accounts for each social platform. With just one account, you could easily switch between social platforms, search the internet for information, and even shop.

Web 1.0, or the first phase of the World Wide Web, began in the 1990s, when the dotcom boom made it possible to easily access information. The information, on the other hand, was largely disorganised and difficult to navigate. Google and MSN, which entered Web 2.0 in the late 1990s, brought order to chaos by sorting and presenting information in an organised manner. They aided in the popularity-based ranking of search results. The advent of this era facilitated the easier exchange of information with others via the internet. However, this resulted in a gradual concentration of power in the hands of a few large corporations.

Content creators are proposing Web 3.0 as the next version of the internet in order to reclaim power. This will open up the internet to new search engines or social networks, with content control not being limited to a few companies.

What is the difference between Web 1.0 and Web 3.0?

Web 1.0

When the internet first brought information closer to the seekers, there were very few content creators. The entire ecosystem was dependent on content consumers, who made up a sizable portion of all internet users.

The majority of the content was in the form of static web pages and was hosted on web servers operated by Internet Service Providers (ISPs) or free web servers. As a result, Web 1.0 was created as a 'content delivery network.'

Users were charged per page viewed as they consumed the featured content. Online directories directed content consumers to the information they sought.

Web 2.0

As more content creators went online, websites began to host user-generated content, focusing on the usability of the content. Websites on the internet became more interactive, and content consumers were given the opportunity to interact with creators via comments on the evolved webpages.

As a result, the content became more dynamic as it was modified in response to user feedback. The flow of information improved, as did communication between website owners and website users.

Tools introduced with Web 2.0

  • Blogs
  • Podcasts
  • Tagging other users on content pages
  • Social Networking
  • Social Media Platforms
  • Voting on web content through user feedback

The importance of opinions, feedback, and user perspectives grew in the era of Web 2.0.

Web 3.0 (still under development)

Web 3.0 focuses on connectivity, content relevance, content outreach, and performance, whereas Web 2.0 focused on communication and online interaction.
Following decades of focusing on the appearance of websites and web pages, work on the evolution of 'back end' capabilities has begun. The user experience was the driving force behind this advancement. Web 3.0 delves deeply into a variety of topics.

Sites and pages on this third-generation web will collect the information users convey (via voice, text, or other forms of media) and intelligently process it to tailor it to each user. Different users will see different versions of the same content. As a result, data will no longer be owned by a single entity but will be a shared resource.

What will Web 3.0 mean for cryptocurrencies?

Web 3.0, like blockchain technology, aims to create a more 'democratic' version of the internet. Leading crypto players rely on the blockchain's smart contract capabilities and incorporate decentralised applications (dApps) into the ecosystem. DApps are applications that operate on a blockchain network of computers rather than on a single computer. Smart contracts and dApps will aid in the automation of processes that will make the internet more 'democratic.'

According to reports, ethereum may be the most popular Web 3.0 blockchain due to its role in assisting dApp developers. As a result, there will be a greater emphasis on ether. Other crypto projects, such as Polkadot, Helium, and Kusama, are already working to improve the Web 3.0 experience.

Web 3.0 will also integrate well with the metaverse, making it simpler to buy and sell non-fungible tokens, or NFTs, which represent your ownership of a virtual good.

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