Web 3.0 is a term that has been coined to describe the newest advancement in web technologies and could very well be the most significant development since the creation of the World Wide Web. The term “Web 3.0” was coined by Tim Berners-Lee, who is considered the father of the World Wide Web.
Web 3.0 is the next version of the internet, a radical change that could impact the entire online world and how users interact. Web 3.0 has not been fully defined yet, but many experts believe it will be determined by security, identity, reputation and privacy.
This article describes what Web 3.0 is and how to Invest in Web 3.0 and be part of the next revolution.
What Is Web 3.0
Web 3.0 will be much more interactive, with rich media content, video and audio adverts, and interactive and fluid design. Web 2.0 was an exciting time for social media and created a whole new ecosystem.
When the internet was first introduced, it was simply a collection of static pages linked together. The web has since evolved into a vast array of interactive and dynamic applications.
Web 3.0 is an idea that describes the next evolutionary step of the web. It is hard to pinpoint exactly what will be a part of Web 3.0, but there are some features that we can look forward to seeing.
One feature is decentralized apps (dApps). These applications run on a peer-to-peer network, and any single entity does not control them. Web 3.0 is governed by a democratized online community rather than a few centralized authorities like big tech. It became clear that social media firms were no longer valued just based on their user base but instead on something far more nefarious.
Why should you invest in Web 3.0?
Would you invest in this technology (the internet) if someone told you in the late 1980s that it would change the way we communicate, work, meet, travel, and entertain ourselves, but that this future wouldn’t be realized for another 15 years?
The Web3.0 era is giving rise to new ways to measure the worth of our time, attention, computers, and hard drives. It also allows investors to access tools and services that were previously exclusively available to institutional investors in the fiat world.
Investing in Web3.0 assets also contributes to the emergence of this epoch, as many initiatives require assistance in their early phases to achieve critical mass.
What happens if we don’t pay attention to Web 3.0?
More than 4 billion people utilize Web 2.0, the most recent version of the internet. We risk ongoing corruption and eventual societal breakdown if society ignores web 3.0 and opts for more centralized dogmatism.
As seen in Maoist China and the communist Soviet Union, total authority corrupts utterly. The internet is not immune to tampering, and in reality, it’s at more risk since none of us has a technical understanding of it.
Web 3.0 is all about bringing in a decentralized web and the foreseeable future is going to be an era of decentralization. Decentralized services will give users control over their data and privacy and will empower developers with open standards and interoperability.
The major technology that drives decentralized systems is the blockchain, a distributed database that can record transactions between two parties efficiently, permanently, and in a verifiable way. The blockchain technology was first deployed in 2009 as the underlying technology that powers the world’s first cryptocurrency, Bitcoin. Since then, countless companies have started to develop business models based on blockchain technology
Web 3.0 aims to accomplish three objectives.
Be an Open Network
Cryptocurrencies are made up of open-source software that anybody or any development community may use. Ethereum’s programming has spawned Binance Smart Chain and Ethereum Classic projects.
Attempt to be as untrustworthy as possible
We must believe that the algorithms work in our favour rather than against us. After learning that our friends have mixed search results, this isn’t easy to accept. Google and Amazon do not operate decentralized, and they’re organized crime syndicates.
Web 3.0 is open to everyone. Anyone may become their bank with Bitcoin, and anyone may hold the right to their artwork with Ethereum. The law is the code. And anything that is implemented into the system goes through a democratic procedure in which the community votes on whether it should be approved or not.
Blockchain and blockchain technology can become your way to invest in Web 3.0.
One of the most important ways to invest in Web 3.0 is blockchain, one of the core infrastructures that make it feasible. Blockchain is a digital public ledger that allows users to access and share information but not alter it. Because of its high degree of verifiability and authenticity, it may be used in a wide range of businesses.
If you want to invest in blockchain or the technologies based on it, you may buy cryptocurrencies or an exchange-traded fund (ETF) like Grayscale. While bitcoin has delivered “life-changing” returns on investment (ROI), ETFs provide investors with blockchain exposure while reducing risk.
What role do AI and machine learning play in Web 3.0?
The usage of AI (artificial intelligence) and machine learning is another Web 3.0 that is being researched and developed. AI and machine learning let technology grasp information the same way that people do by utilizing natural language processing technologies.
Web 3.0 employs AI and machine learning, a type of AI, to increase accuracy, similar to how social media platforms use algorithms to select and display information. This enables more relevant and faster search results.
Investing in AI and machine learning is more difficult because it’s embedded into apps and platforms without much notice. However, if you want to invest in Web 3.0, you should think about dApps (decentralized applications). Decentralized apps, a significant component of Web 3.0, can range from games like Illuvium to exchanges like Uniswap, where no single organization manages the data.
Web 3.0 offers us two options: a more democratic future through decentralization or authoritarian control by a few centralized parties.
Web 3.0 adoption will not be quick or painless. Some governments are rushing to ban cryptocurrencies, favouring more centralized options over which they can exert control.
Because the government is too clumsy to repair anything, the keyword is ‘try.’ I wouldn’t trust them — or any central authority for that matter.
Web 3.0 will be a race to the finish line. And, to be honest, I’m still not sure who will win.