Get to know Web 3.0, which is called the future of the internet
In recent times, the internet has been abuzz with new terms, including Metaverse, NFTs, and now there's Web 3.0.
Web3 represents the future vision of the internet, also known as Web 3.0. Its predecessors were Web 1.0 and Web 2.0.
Web 1.0 emerged in the 1990s during the early days of the internet, focusing on democratizing access to information. In the mid-2000s, Web 2.0 arrived, marked by the emergence of major names like Google, Amazon, Facebook, and Twitter. These platforms organized the internet, facilitating online connections and transactions.
However, critics argued that these companies wielded too much power. Web 3.0 aims to reclaim some of that power, as reported by NPR on Monday (17/1/2022).
Web 3.0 enthusiasts advocate for regaining power by reshaping the internet, eliminating the dominance of companies in social networks, search engines, and markets. This new paradigm is decentralized and built on blockchain technology. It involves a ledger where numerous computers collectively store data accessible to anyone.
NPR describes this system as collectively operated by users rather than companies. Users will be rewarded with tokens for participation, enabling them to vote on decisions and generate real value.
Web 3.0 empowers users to control their own data, moving from social media to email or shopping with a single personalized account, creating a blockchain record of all activities.
The Web 3.0 movement is fueled by the NFT trend. Additionally, Twitter is exploring ways to incorporate Web3 concepts into its platform, says Esther Crawford, a senior project manager at Twitter.
She states that in the future, it won't be a crypto version of Twitter replacing the platform. Instead, the company will introduce Web3 features on the standard Twitter platform.
"For a long time, Web 3.0 was highly theoretical. But now there is a surge in momentum to build," she adds.
