Tech UPTechnologyWhat is Web 3?

What is Web 3?

Web 3.0 = the Internet of tomorrow? Large corporations are frequently hacked, resulting in the exposure of millions of user data. This could change in Web 3 with an improvement in privacy, with the decentralization of data.

 

It will change our lives by reshaping the Internet

Until the early 2000s, the internet was dominated by some of the top content creators and the majority of users were just consumers. That changed with Web 2.0 as more and more users became content providers and the big players in the industry provided a place where that content could be shared. Web 3.0 is an update to the web, a meta technology for enterprise software, an open data social movement, and a new generation of artificial intelligence. All in one.

Centralized entities, such as Facebook, Twitter, and Google, will be replaced by social media platforms and search engines without any companies behind them.

Cryptocurrencies are also the territory of the Web3. Bitcoin, the original cryptocurrency, was designed as electronic money for direct exchange between users who do not need to trust each other or anyone else, and instead put their faith in the blockchain, a public ledger maintained by computer networks. decentralized and open source. There are now thousands of different blockchain- based tokens, continually circulating in places with varying degrees of regulation and supervision. It’s Web 3.

As it is still a vague term, billionaires like Elon Musk (Space X) and Jack Dorsey (Twitter) took to Twitter to poke fun at the hypothetical remake of the internet. They wondered where Web 3 was, because they couldn’t find it. In fact, Musk wrote: “I’m not suggesting that Web3 is real (it seems more like a marketing buzzword than reality right now), I just wonder what the future will be like in 10, 20 or 30 years” and added “ the year 2051 sounds very futuristic. “

 

 

 

And it is that most of the operations of Web 2.0 are controlled by technological giants such as Amazon, Google and Microsoft, but Web 3.0 is decentralized where data is distributed through networks and no entity owns the information.

It’s a catch-all term for disparate ideas that point in the direction of weeding out the big middlemen on the internet. In this new era, browsing the web would no longer mean logging into Facebook, Google, or Twitter. Web3 is about recovering some of the power that the world’s best-known large platforms have accumulated. New social networks, search engines and markets will emerge that do not have supreme bosses in the business world.

Instead, they are decentralized, built on top of a system known as the blockchain , which already supports Bitcoin and other cryptocurrencies.

Blockchain reinvents the way data is stored and managed. It provides a single set of data (a universal state layer) that is managed collectively. This single state layer enables for the first time a value settlement layer for the Internet. It allows us to send files in a copy-protected way, allowing true P2P transactions without intermediaries, and it all started with the advent of Bitcoin.

Thus, advanced technologies that will contribute to the evolution of the Internet in addition to blockchain are virtual reality (VR), augmented reality (AR), artificial intelligence (AI) and machine learning (ML).

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