The term WWW (World Wide Web) first developed by Internet pioneer Tim Berners-Lee in early 90s. World Wide Web refers to the collection of information and all the resources, which are interconnected through hypertext links, also we can say a collection of websites or web pages stored in the web servers and connected to local computers or mobiles through the internet.
We have seen web 1.0 and web 2.0, now the web 3.0 is trending these days.
Web 2.0 is the technology, which has benefited more than 3 billion users worldwide and they are most of the time occupied with it.
We have moved from web 1.0 to web 2.0 in early 2000 completely, when Facebook launched and Google’s Initial Public Offering (IPO) came into the internet world. They offered common people interaction into the web network.
This has been the revolutionary change in the internet and we are still using the same technology.
Many people are making money by providing contents to these internet giants and by sharing useful information to other users.
So, if web 2.0 is still growing and much liked by all the users then why we are moving towards web 3.0.
Let’s find out-
What is Web 3.0?
Web 3.0 is the new generation of internet which provide you information in a smart robot like system with the help of Artificial intelligence & machine learning process. It will be completely based on decentralized network which means you can process or access data in complete secure way.
In web 2.0, all the data is processed by some centralized bodies like Google, Facebook, Yahoo etc.
But in web 3.0 anyone can access any information which is available on decentralized network by communicating with programs in contextual form.
To understand better about web 3.0, we need go through the evolution of internet from web 1.0 to web 3.0.
What was Web 1.0?
Web 1.0 was the first phase of internet, which launched in 1989 by Berners-Lee and lasted until 1990.
§ In the Web 1.0 all the web pages are just static information where users can visit to a website and then read and interact with the static information without giving their own inputs.
§ HTML (Hyper Text Markup Language) is the markup and formatting language of the web pages.
§ URL or URI (Uniform Resource Locator or Identifier) is the unique address used to identify each resource on the web network.
§ HTTP (Hyper Text Transfer Protocol) allows users to retrieve linked resources from web at anywhere.
§ The initial web browser like Netscape which can retrieve data for you from the server. People enjoyed real time news and emails at that time.
§ Users can’t create their own content and not even comment on the content creator’s articles.
§ Web 1.0 didn’t have the algorithm to interact between articles that made it difficult to retrieve data as per users requirement.
What is Web 2.0?
Web 2.0 started in 2004 and we are still in this phase of internet, where user can create his own content and interact with others.
§ Which drive startups to build interactive web platforms such as Facebook, YouTube, Wikipedia and many more.
§ User can interact and contribute in the form of comments, likes, sharing and uploading their photos or videos and perform other such activities.
§ But these all activities happened under a centralized body like Facebook and google. They have all your information that you have entered on their server and you need to take permission to upload your content also.
§ The major difference in web 1.0 and 2.0 is that user can connect with millions of people at an instant. And this improvement results in millions of content generation every day.
§ This explosion in content creation is because of the reach of internet to everyone’s pocket. The launch of iPhone & android operated phones with the cheaper internet connectivity providers is the major factor in current internet world.
§ In addition to these powerful mobile phones, the user interaction based Apps like Facebook, Instagram, twitter, TikTok, WhatsApp and others have played their major role in current content generation.
§ These apps have a major contribution in driving economy by providing jobs and other earning opportunities to millions of people.
How Web 3.0 is better for all of us
If we summaries all 3 web systems-
Web 1.0 – Static web pages with no user interaction.
Web 2.0 – user can interact with web pages and post their own content but on a controlling server only.
Web 3.0 – user is the owner of his content, no any controlling body and no surveillance on user’s data.
Web 3.0 is based on Decentralized Network, Artificial intelligence and user based design.
Decentralized network- Web 3.0 is based on decentralized network which means you can create your content and just publish it. No need to take permission from any one.
If someone needs your content, he can find it on network. It means if your content is useful and gets more attraction your revenue would be more because you don’t need to give cuts to anybody (It is based on current revenue system).
User based design – In current web system you need to rely on big tech platforms to upload your content, because they convert your submissions into code form which is the language of web pages.
But in web 3.0, you don’t need to know about coding and other technical stuff. Because it is based on Artificial intelligence which means your submissions can be uploaded in your own language. No need to convert it in web language.
That clearly indicates that the role of middle man will be removed from the system, and User is the real owner of his content.
A deep study on key features of Web 3.0
Now we have understood about the basic concept of web 3.0 and how it will be beneficial for user. So, web 3.0 have basically 5 key features, which are-
1. Semantic web
In 2001 Berners-Lee first published about the concept of semantic web system. He added that current computers and software have no any reliable ways to process the common language of users into web pages.
Now web 3.0 has moved way beyond this semantic web system and with the help of machine learning it is possible to convert common language and its emotions into web contents.
When user uploads its content, it would save on a server in the HTML language, which can be accessed by anyone by its web address in URL forms and can be searched by computers using HTTP, but it can be accessed only on the same server where it stored.
But with Web 3.0, the information can be stored at multiple locations and accessed by anyone from anywhere by its context, no need of any computer languages.
This decentralized network would bypass the intermediaries like Google & Facebook’s database.
And user have the ownership of that content. If anyone wants to access that information and publish ads on it user will receive all the rewards.
This decentralized network would provide more relevant information without diluting the users personal information to any controlling body.
3. No surveillance web network
As we know decentralized network or blockchain technology is the key feature of web 3.0, it means no governing body have surveillance upon user and content creator.
Content creator and user can interact directly without going through an intermediator party.
All the apps which provide those services will run on blockchain and named as “dApps”.
4. Artificial intelligence (AI) & machine learning feature
In Web 3.0, Artificial intelligence and machine learning helps computers to understand common language, which is the basic concept of semantic web system.
AI and machine learning helps computers in evaluating how human learn things and understand their emotions. Which help in providing better and relevant results to the users and showing relevant ads on contents.
In web 2.0 ads runs by host server and they manipulate according to them and shows irrelevant ads to user.
Example- a large company can manipulate its rating by giving a large number of users money and asked them to post positive review on their product.
This can be simply eliminate by web 3.0, because here artificial intelligence can read the emotions of users and provide legit reviews of products and services.
5. Connectivity and ubiquity
Ubiquity means –presence at everywhere. In web 2.0 we can share a photo or video or anything from anywhere on a server like Facebook, YouTube or google. And this can be accessed from anywhere but on same network.
Web 3.0 takes this one step further and give service provider full independence on being present at anywhere, no dependency on single server.
Connectivity means being connected to anyone at anywhere. To store contents and information we don’t have to rely on humans now.
Internet of things (IoT) already take place many information providers by replacing humans with IOT’s.
“The internet of things, or IoT, is a system of interrelated computing devices, mechanical and digital machines, objects, animals or people that are provided with unique identifiers (UIDs) and the ability to transfer data over a network without requiring human-to-human or human-to-computer interaction.”
Example of some IoTs are sensors, Microcontrollers and Antennas etc.
Web 3.0 based applications
Applications, which are based on decentralized network would be the primary example of web 3.0 applications, such as Decentralized Finance (Defi) and games like decentraland.
To know more about Decentralized Finance (Defi) and Crypto Loans-
Other applications which use artificial intelligence would be the example of web 3.0 system like Siri.
Siri provide you voice assistance based on your quarries and provide you relevant results.
Another one is Wolfram Alpha, it gives you search results on the basis of user intentions not on the basis of most searched queries related to yours (which Google does).
Bondex- It is based on the web 3.0 “user is the owner” concept. It is a talent ecosystem, which is owned by the users only. Users are the content creator and owner of the system, as per their contribution they get rewards in the form of crypto Tokens.
Investment options in Web 3.0
Whenever a new technology came into system it brings an investment opportunity with it. As we know web 3.0 is based on decentralized network and uses artificial intelligence for processing.
It indicates that crypto and stocks which are in the same concept of web 3.0, would be the better investment options in web 3.0.
Best Web 3.0 based cryptocurrencies
Anyone can develop Web 3.0 applications and decentralized projects using Flux App. This becomes efficient with the help of Flux operating system- a decentralized operating system made just for Flux users.
The BitTorrent client is a cryptocurrency that many people are familiar with. It is a peer-to-peer file sharing, transfer and hosting protocol. It was bought by TRON blockchain in 2018, and then BitTorrent Token (BTT) was launched on the Tron blockchain.
The aim of this project is to create a token-based economy where token holders control networking and storage of resources.
Kusama(KSM) would be another option to invest because of its proven record in parachain technology.
It is a decentralized video streaming network built on the Ethereum blockchain. Which is used to stream videos on the blockchain network.
It is well known cryptocurrency, which is based on web 3.0 project. Polkadot provide faster and cheapest transactions among all the others.
Helium is a decentralized blockchain powered network for IoT devices, which are the key features of web 3.0.it uses a low energy based wireless hotspot network to broadcast radio waves on the blockchain network. The network uses a new algorithm, known as the proof-of-coverage to provide validation to the transferred radio waves.
Filecoin is based on web 3.0 network. It is mainly known to store files in a very secured network, which is useful for companies to store their data on decentralized network.
Top Web 3.0 Stocks to Buy
Nvidia (Nasdaq: NVDA)
Nvidia Corporation provide solutions for artificial intelligence, cloud computing, and deep machine learning. Nvidia’s technology is already used by many industries like telecommunications, financial services, gaming, healthcare, and more. It proves that Nvidia has a very good chance that powering the future of Web 3.0
In FY 2021, Nvidia posted annual revenue of $16.68 billion. This was a 52.73% increase from $10.92 billion in 2020.
Nvidia’s stock is up 140% in last year.
Coinbase (Nasdaq: COIN)
Coinbase is one of the largest crypto exchange. Web 3.0 stocks should be providing help in increasing decentralized network to all and coinbase stock would be the prime in it.
Currently, the company acts as an exchange to buy, sell, and invest in cryptocurrency. it has plans to launch an NFT platform as well. Due to its popularity, there’s a good chance that Coinbase will thrust NFTs into the mainstream.
In 2020, Coinbase reported annual revenue of $1.28 billion. This was up 145% from $522.8 million in 2019.
Block Inc. (NYSE: SQ)
Block Inc. (formerly known as Square) is a diversified financial services company. Jack Dorsey (founder and former CEO of Twitter) is now completely focusing on Block Inc.
It provide solutions for point of sale, peer-to-peer payments, and cryptocurrency.
While stepdown from twitter Jack Dorsey stated that, it is the best for me to focus on cryptocurrency development than any other thing.
In 2020, Block Inc. generated $9.5 billion. This was an increase of 101.5% from 2019.
As we all aware that how new technologies and smart devices have changed our daily life and our behavioral pattern. Web 3.0 will drive this penetration more into daily life by providing relevant and useful results in shorter period.
User to creator interaction will become easy and secure and more earning opportunities will arise.
We have seen how IoTs have been embedded in our daily life appliances like TV, refrigerator, oven etc. without any human interaction they transferred data to their internal servers and then autonomously transferred to decentralized apps(dApps).
“In nutshell, technology is changing day by day and we should change with it but never miss the opportunity to earn in it.”