Web3, also known as Web 3.0 or Web 3, refers to the next generation of the World Wide Web. It includes decentralized technologies such as blockchain, peer-to-peer, cryptocurrencies, and other tools of decentralized systems to create a more secure, transparent, and open internet experience that enables direct interactions between users and their peers without any intermediary or centralized authority in control.
In this definition...
What does Web3 do?
Web3 decentralizes services like payments, Domain Name System (DNS), and social media platforms, providing users with better ownership over their data and better privacy options. Proponents say that applications built on Web3 will be more resistant to censorship than their Web2 counterparts, and they’ll be interoperable across different blockchains, making them future-proof.
Key features of Web3
- Semantic Web: The Semantic Web is the next web generation. Instead of using keywords or numbers, the semantic web enhances online technologies to develop, exchange, and connect content via search and analysis.
- Ubiquity: Web3 makes content available to users on internet-enabled devices regardless of their location.
- Artificial intelligence: In Web 3.0, computers will interpret information like humans using natural language processing abilities to give relevant and accurate results faster.
- 3D Graphics: Web 3.0 bridges the gap between the physical and digital worlds by modernizing graphics technology and entirely focusing on three-dimensional virtual worlds.
- Connectivity: Semantic metadata makes information more accessible in the Web 3.0 era. User experience advances to a new degree of connectedness that utilizes all available data.
How is Web3 different from Web 2.0 and Web 1.0?
The World Wide Web (www) has undergone two major revisions to date, known as Web 1.0 and Web 2.0. Web 1.0 was the first version of the internet that focused on text and hyperlinks; this era focused on information dissemination. Web 2.0 revolutionized the experience by adding multimedia content such as videos and images, dubbed the social media era.
Web 1.0
The first generation of internet platforms relied mainly on Hypertext Markup Language (HTML) and Hypertext Transfer Protocol (HTTP). Users could only access information on these platforms via text written in a simple markup language.
Essentially, all that was accessible was text-based information with no multimedia elements. Because it exclusively dealt with information transfer, it was commonly referred to as the Information Superhighway.
Web 2.0
The second generation of internet platforms introduced our current level of interactivity online. Users can now access more dynamic websites, allowing them to view multimedia content such as photos and videos and comment on other people’s posts via social media.
Websites gained a more personalized feel when compared to those found in earlier generations. Currently, we are experiencing an even higher degree of interaction between website visitors and site administrators.
How does Web 3.0 differ from its predecessors?
One key distinction between Web 2.0 and Web 3.0 is increased interaction between platform users and website owners/administrators. The introduction of decentralized applications is a fundamental differentiator.
While both centralized and decentralized apps offer similar functions, centralized applications depend entirely on servers maintained by third parties to operate appropriately. Decentralized applications function without the need for third-party structures.
Opinions still differ on what Web3 is.
The term used to describe the evolution of the Web as an extension of Web 2.0. This definition of Web 3.0 is the popular view held by Tim O’Reilly. In contrast, Nova Spivack defines Web 3.0 as connective intelligence; connecting data, concepts, applications, and ultimately people. While some call The Semantic Web “Web 3.0,” Spivack’s opinion is that The Semantic Web is just one of several converging technologies and trends that will define Web 3.0.
