+

IS WEB 3.0 CHANGING THE INTERNET?

Web 3.0 is proposed to take the power back from tech giants and give every individual their own web presence on the internet.

Do you realise how different the internet we use today is from what it was just 10 years back? The internet itself has undergone several shifts to become what we see today. But this is not the end.

Some experts say that today’s internet is what the automobile industry looked like in the 1920s. This means, even after being around for almost 20 years, it still is in its growing stage. Changing and improving every other day. 

With this ever-advancing technology, yet comes another buzzword-Web3. It has become the core focus of discussions among tech enthusiasts and crypto-geeks, an idea that focuses on eliminating all the intermediaries. 

The World Wide Web was created so that every individual could do anything they wanted to. But, instead, the tech giants and the algorithms instead started dominating. Web 3.0 is proposed to take back the power from these dominators and give every individual their own web presence on the internet. 

But where did it all start? Let’s dive into its origin!

WEB 1.0 AND WEB 2.0

The initial days of the web only allowed limited features. In the 1990s, with Web 1.0, people could only read information on the internet. There were no ways to interact with the information provider. Connected merely by hyperlinks, the syntactic web provided no option for the end-users to do anything else but just read what’s provided.

The era of static web pages ended with the emergence of Web 2.0 in the 2000s. It signifies today’s internet. Social media platforms and search engines like Facebook, Google, and Twitter have started giving people the freedom to interact, connect, and transact online. Web 2.0 encouraged end-users to transition from passive to active content providers. Today, almost everyone, from every corner of the world, can access the internet. 

Although developed for every individual, critics say that big corporations have dominated the internet and exercised too much power.

Web 3.0 is intended to take back the power and give it to every user equally. 

EVOLUTION TO 3.0

The platforms we use today are owned by a group of companies. Web3 aims at changing this aspect by coming up with new social media platforms and search engines that will have no controller—decentralised. 

Experts say that the next version of the internet, the semantic web or Web 3.0, will be more intelligent than the one at present. In simple words, the idea behind this is to merge today’s worldwide web with Blockchain technology—the famous technology behind cryptocurrencies. 

In Web 3.0, developers build programs on the blockchain, decentralised peer-to-peer servers, or a hybrid of the two called Apps.

WILL WEB 3.0 BE THE NEW NORM?

Web 3.0 has huge potential, and apparently, it’s already here. But some experts say that Web 3 won’t totally replace Web 2 anytime soon and will work simultaneously.

This means blockchain-based social media platforms may grow and provide more efficiency than what we are experiencing now. But, it won’t wipe off the already dominating tech giants in the near future. There is also a huge chance that the Web2 companies will merge into the Web3 technologies to stay relevant in the ever-advancing world. 

A good example would be how Facebook, a Web2 world company, tapped into the metaverse space. 

WHY IS WEB 3.0 HYPED UP?

There are a lot of reasons why everyone is looking out for the next generation of the internet. 

Web 3.0 is aimed at providing:

1. Complete ownership of data to the end-users.

2. Elimination of intermediaries or central authority.

3. Privacy and tracking of information.

4. Incentivise creators andeveryone maintaining the network. 

Without a doubt, having so much of society’s social fabric and economic systems dependent on infrastructure controlled by a few private businesses is detrimental.

WHAT ABOUT ITS DOWNSIDES?

With every good thing, come its drawbacks. Even with the highly intelligent paradigm shift of the internet from 2.0 to 3.0, there are certain challenges to face.

Devices that are less advanced won’t be able to tap into the new stage.

Too complicated for newcomers.

Web 1.0 will appear even more outdated. 

Sceptics say “Web 3.0 is vapourware”, i.e., something that’s being promised but can never be delivered. Others say that people have too much money to invest and to do that they just need a reason. 

Nonetheless, even though Web 3.0 is mostly theoretical as of now, if the above problems can be fixed, we will be able to experience a massive shift in the internet space for the good. 

THE BOTTOMLINE

It is not about taking down Facebook or Google, but more about less control and transparency.

We deserve much better than to be controlled by powerful monopolies. Any platform that paves the pathway for transparency and freedom is sure to take over the digital space in the future. 

Web 3.0 has huge potential, and apparently, it’s already here. But some experts say that Web 3 .0 won’t totally replace Web 2.0 anytime soon and will work simultaneously.

The next internet stage will change the way we interact. More precisely, Web 3.0 will be:TRANSPARENT

Transparent in the sense that applications and programs will be built using open-source software by an open community of developers. The development and deployment of these applications will be transparent, and anyone can benefit from the available virtual resources. TRUSTLESS

This means the total elimination of intermediaries. People can transact and interact without the involvement of any “trusted” third parties. PERMISSIONLESS

In today’s internet stage, the few big companies that own the social media platforms that we use hold all our information. Yes, every bit of data we put out there. We won’t know exactly how this information is being used, as scary as it may sound.

Decentralisation targets this side of the web. Web 3.0 will ensure everyone can stay autonomous. There would be no need to share sensitive personal data. Plus, since there will be no governing body, which means, anyone can use the internet to their benefit without anyone’s approval.

Tags: