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Web 3.0 and its features lookout

Web 3.0
Web 3.0 Image credit: CoinMarketCap

Web 3.0 Definition

 Web 3.0 is the new generation of internet services that utilize advanced machine-based learning and artificial intelligence to connect web-based applications together and form a more personalized web. web 3.0 is collectively designed to offer users more user-tailored content at a much faster rate than ever before. The new web will utilize AI-powered search algorithms, virtual reality (VR), augmented reality (AR) and enhanced data analytics to make this possible.

The idea of Web 3.0 was first introduced by Tim Berners-Lee, the inventor of the World Wide Web, where he discussed the concept of the then-called Semantic Web. According to Berners-Lee, the Semantic Web should be capable of processing and analyzing every data available on the Web, including all content, links and exchange of information from people and their computers. He further added that this can greatly help in enabling machines to complement our daily activities.

Some of the key concepts expounded by Tim Berners-Lee are:

  • Decentralization: "No permission is needed from a central authority to post anything on the web, there is no central controlling node, and son no single point of failure ... and no 'kill switch! This also implies freedom from indiscriminate censorship and surveillance."
  • Bottom-up Design: "Instead of code being written and controlled by a small group of experts, it was developed in full view of everyone, encouraging maximum participation and experimentation

Once Web 3.0 is fully in place, it is expected to make a huge wealth of information accessible to a variety of applications and websites online, enabling these systems to understand the data they gather from the activity of internet users. Note that tech giants like Google and Facebook will no longer be able to control or access user data in this era. Therefore data privacy laws can no longer be similarly violated by them.

Web 3.0 is expected to push the boundaries of peer-to-peer exchange of information by taking advantage of technologies like blockchain, the Internet of Things (IoT), and open-source software.

Features of Web 3.0

Although, there is no standardized definition of Web 3.0 yet however, it does have a few defining features according to Investopedia:

Decentralization: This is a core tenet of Web 3.0 in Web 2.0, computers use the HTTP protocol in the form of unique web addresses to find information, which is stored at a fixed location generally, it could be stored in multiple locations simultaneously and hence be decentralized. This would break down the massive databases that are currently held by the internet giants like Facebook (now Meta) and Google, and prevent their undue enrichment by handling greater control to users. With 3.0, the data generated by disparate and increasingly powerful computing resources including mobile phones, desktops, appliances, vehicles, and sensors will be sold by users through decentralized data networks, ensuring that users retain ownership control.

Trustless and permissionless: In addition to decentralization and being based upon Open source software, Web 3.0 will also be "trustless" (i.e, the network will allow participants to interact directly without going through a trusted intermediary) and "permissionless" (meaning anyone can participate without authorization from a governing body). As a result, Web 3.0 applications will either run on blockchains or decentralized peer-to-peer networks or a combination will thereof-such decentralized apps are referred to as Dapps.

Artificial Intelligence (AI) and Machine Learning: In Web 3.0, computers will be able to understand information like humans, through technologies based upon Semantic Web concepts and natural language processing. Web 3.0 will also use machine learning, which is a branch of AI that uses data and algorithms to imitate the way that humans learn, gradually improving its accuracy. These capabilities will enable computers to produce faster and more relevant results in a host of areas like drug development and new materials, as opposed to merely targeted advertising that forms the bulk of current efforts.

Connectivity and Ubiquity: With Web 3.0, information and content are more connected and ubiquitous, accessed by multiple applications and with an increasing number of everyday devices connected to the Web-and example being the Internet of Things.

Example of how Web 3.0 will be to provide user utility

For example, if you are making plans for a vacation and are on a budget, you would have to spend hours looking for flights, accommodation, and car rentals, trawling through numerous websites and comparing prices. With Web 3.0, intelligent search engines or bots will be able to collate all this information and generate tailored recommendations based on your profile and preference, saving you hours of labour.

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