An overview of Web 3.0 technology

The future of the internet is known as Web 3 It is a set of technologies that will create a more open and decentralized internet, rather than a single platform as today. The first step towards this new web was taken with the invention of blockchain, the technology behind cryptocurrencies such as bitcoin. The next step in the evolution of the web, is now becoming a reality - the birth of a new generation of decentralized services and applications that will give users unprecedented control over their own data. Industry experts have different views on Web 3: some consider it a joke, while others see it as a harbinger of things to come. This article examines both viewpoints. However, to understand the importance of Web 3.0, you must first learn what Web 1.0 and Web 2.0 are.

Web 1.0

Web 1.0 is an early version of the Internet that emerged in the late 1980s. It was a simple and static set of web pages that users could only view, without the ability to interact or edit. Websites resembled books: they contained unchangeable text and images. Data was stored as in regular files, not in modern databases. Web 1.0 was an important step in the development of technology, but it was not interactive and was limited to transferring information from the creator to the reader.

Web 2.0

The interactive Internet is known as Web 2.0. It is a user-friendly Internet where everyone can share their opinions with the world even if they are not part of the development team. It allows users to express their individuality. This revolution has led to the development of social media and e-commerce platforms, and has influenced social structures around the world. Cascading Style Sheets 3 (CSS3), Hypertext Markup Language 5 (HTML5), and JavaScript are examples of innovative web technologies developed as part of Web 2.0. Web 2.0 applications often lead to data leakage. Users have no control over how their data is stored and are exposed to hacking. With centralized servers, governments can easily monitor, block or disable applications that go against their policies. The world is now entering a new phase of Web 3.0, which offers many unique benefits.

What is Web 3.0?

Web 3.0 is a new version of the internet where data is owned by users rather than centralized companies. It uses advanced technologies such as blockchain, artificial intelligence (AI) and IoT to make interactions with the web more secure and transparent. In Web 3.0, applications run on decentralized networks where all user actions are secure and easily verified. This creates an environment where data cannot be tampered with and interactions become transparent and automated. Thanks to AI, the network can offer a more personalized and smarter experience, and built-in cryptocurrency payment systems make financial transactions fast and secure. Web 3.0 enables the development of distributed applications (Dapps) that run without centralized control, relying on multiple nodes and blockchains. This makes the Internet more open, secure and accessible to all, ensuring a high degree of data privacy and trust between participants. Web 3.0 also provides important support for the development of a governance layer in the existing Internet. This governance layer builds trust and enables agreement between two unknown parties to a transaction. Blockchain technology in Web 3.0 is the beginning of a backend revolution.

Why do some industry experts think Web 3.0 is a scam?

Web 3.0, despite its benefits, faces a number of challenges, including fraud and risks to users. While the technology promises to create a trusted environment through interconnected systems, in practice it is still vulnerable to flaws, incompetence, and targeted deception. For example, in a Web 3.0 environment, fraudsters can steal investor funds under various pretexts. The principles of supply and demand continue to operate in Web 3.0, creating a new economy, but with inherent risks. The “Play and Earn” gaming model has become a source of income for people, but the reliance on cryptocurrency tokens has made players vulnerable to market volatility, resulting in significant losses. The role of regulators in this context is crucial. Cryptocurrency tokens, used in many Web 3.0 applications, are still poorly regulated. For example, the head of the SEC emphasizes that platforms issuing tokens should be subject to the same rules as companies issuing traditional financial instruments such as stocks and bonds. This can help reduce risks and increase the reliability of the system.

Conclusion

Finally, Web 3.0 is still in its infancy as the Internet spreads globally. The technology will evolve and new models will emerge. It will be very interesting to follow the development and launch of new products.