Web 3.0 is the upcoming third generation of the internet where websites and apps will be able to process information in a decentralized way through blockchain technologies.
The Web 3.0 definition can be expanded as follows: data will be interconnected in a decentralized way, which would be a huge leap forward to our current generation of the internet (Web 2.0), where data is mostly stored in centralized repositories.
Web 3.0 was originally called the Semantic Web by World Wide Web inventor Tim Berners-Lee, and was aimed at being a more autonomous, intelligent, and open internet
Evolution of the Web 3.0 Technologies
Advantages of the Web 3.0
1. Data Ownership
In Web 2.0, tech giants control and exploit user-generated data. In blockchain-powered web3, end-users take will take full ownership of the data using. You will be able to choose what information you want to share with businesses and advertising companies and make money from it.
Also, Web3 will not be controlled by a single entity. As a result, decentralized apps (dApps) would not be censored nor will their access be restricted.
2. Fewer Intermediaries
Blockchain-based Web3 will connect companies directly with customers. There will be very few or no central authorities that will receive a share of earnings from electronic transactions. While the need for adequate rules and regulations to monitor fairness will still be there, we will see a shift towards trustless and decentralized networks instead of centralized institutions.
3. TransparencyThe decentralized web will enable users to track their data and look over the source code of the platforms they decide to utilize. All the stakeholders will always be aware of the value and commerce they are associated with. You will not need to rely on a middleman for access to this data.
4. Efficient searching and information linkingIn Web3, you will be able to search for information more efficiently. When you will search for something on a search engine, it will show you more relevant search results instead of showing you the most popular pages that people click. The semantic web will help in better connectivity of online data.
It will help you by saving more time while searching for the information and being more productive.
5. Personalized Web Surfing ExperienceIt will offer a more personalized internet surfing experience as websites will be better able to recognize our preferences. Web applications analyze our internet usage and habits to customize themselves to fit best to our device, location, etc.
6. Uninterrupted servicesIn Web3, data will be stored on distributed nodes. Thus, the users will not need to think about the suspension of a particular account or service disruptions due to technical or other reasons.
7. Better MarketingUsing AI-powered Web3, sellers would be able to better understand the buying needs. They will show those products and services to buyers that they are interested in buying. Buyers will see more useful and relatable advertisements.
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