Web 3.0!

9 Oct 2022

The internet has changed dramatically over the years. We have already encountered Web 1.0 and Web 2.0, and much discussion surrounds Web 3.0. Without the ability to build the kind of content-rich websites we have today, Web 1.0 offered visitors a static experience. Social networking and dynamic websites was introduced by Web 2.0, but at the expense of centralization.

In addition to giving us control over our online information, Web 3.0 aims to build a semantic web. Therefore, automated systems will have no trouble reading and processing user-generated content. Web3 refers to the next generation of internet technology, which is heavily reliant on machine learning, artificial intelligence, and blockchain technology. Web3 is a movement and its goal is to create open, connected, intelligent websites and web apps with enhanced machine-based data understanding. Decentralization and digital economies are also important in Web3, as they allow us to assign monetary value to the content created on the internet. Web3 is an evolving concept with no single definition, and its exact meaning can vary from person to person.

Although still in its early stages of development, Web3 can utilize P2P technologies such as blockchain, open-source software, virtual reality, the Internet of Things (IoT), etc. While Web3 adoption is still far from complete, most of its fundamental ideas have already been established. Semantic markup, which enables machines to understand user-generated content and data better, blockchain technology and cryptocurrencies empowers decentralization and digital economies, 3D interactions, visualization, and presentation, which are already perceptible in the metaverse, are some of the most crucial elements of Web 3's future.


[1] Binance Academy, 'What is Web 3.0 and Why Does it Matter?' (online, <2022>) <https://academy.binance.com//en/articles/the-evolution-of-the-internet-web-3-0-explained>.
[2] BULB, 'Write to Earn. Read to Earn' (online, 2022) <https://www.bulbapp.io/>
[3] Image by <a href="https://www.freepik.com/free-photo/medium-shot-man-wearing-vr-glasses_19265130.htm#query=web%203&position=1&from_view=search&track=sph">Freepik</a>

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