Why We Need Web 3.0 (Why the Web 3.0 matters)
The decentralized Web 3.0 Internet is already being created, and its development will solve a number of problems that exist today on the Web.
In recent years, most areas of life, including the Internet, have undergone a dramatic transformation. The morally obsolete linear model of the World Wide Web has been replaced by a multiplatform interconnected webspace, which has the capacious name of Web 3.
Web 3.0 is the third generation of Internet development; a decentralized network of sites and applications that can receive and process information from all participants as autonomously as possible, built using technologies such as blockchain, machine learning (ML) and decentralized registry technology (DLT). This definition was first proposed by angel investor and entrepreneur Jason Calacanis in 2007. He described the new Internet as a return to what was great about media and technology before the commercialization and takeover of Web 2.0 by corporate monsters.
The main difference between Web 3.0 and previous versions of the Internet will be the complete decentralization of participants and the ability to transmit, process and interact with data directly, without a central server.
History of Web 3.0
It is accepted that the entire development of the World Wide Web is divided into three stages.
Web 1.0 (1991–2004) was the Read and Only stage. The user was only a consumer of content. He did not participate at all in the development of the Web, being only able to read, comment and open pages, without all kinds of authorizations, registrations and data collection.
In the period of Web 1.0 there was a demand for HTML, email lists, all kinds of forums and chat rooms for communication.
Web 2.0 (2005-present) — a period of interactive Web, a great development and exchange of experience, the so-called Read/Write Web (read and write Web) stage.
This period is characterized by two iconic qualities:
- The emergence of the possibility for the user to create his content and broadcast it, thereby adding a social function to the development of the World Wide Web;
- The high centralization of Web 2.0 services in the hands of corporations such as Google, Facebook, YouTube, etc. Web 2.0 is also called the era of targeted advertising.
Web 3.0 (from the present to the future) is the stage of development of the Internet in which we are now. The development process is taking place before our eyes, but all the success of the transformation from Web 2.0 to Web 3.0 we will see only after some time.
Now the exact concept and set of problems which will solve Web 3.0 is defined.
The concept of Web 3.0 is maximum decentralization. At its core, all objects in this segment will try to go beyond the Internet and become a democratic bridge between the online and the real world.
The new Internet will have no place for centralization points run by corporations. Decentralization will be provided by the distribution of the database between nodes (specialized storage nodes), where the owner of the node can be anyone. Eventually, Web 3.0 will become a super blockchain.
What will it give users?
Let’s take the emergence of Web 3.0 as an example, what will it do for users and what problems will be solved with it.
The most important thing is centralization
The advent of Web 3.0 will be able to reduce the risks associated with this factor as effectively as possible. It will no longer be necessary to maintain a single center for the management and computation of data, at an economic loss, but with access to the sole management of information. The network will be distributed among equal nodes with equal rights.
Reduced censorship on the network
Censorship, imposed unilaterally by developers, will disappear with centralization. The “client-server” scheme, in which all information passes through a centralized server, will be eliminated.
With Web 3.0, the level of anonymity and privacy on the Web will increase. The lack of a central server will reduce the need to collect sensitive information about the user and solve the associated data security problems associated with its storage.
Tokenization of being on the network
Web 3.0 offers a solution to such an important issue of making money online. Content tokenization will be the solution to Web 3.0 monetization. Whether it’s photos and social media posts, search activity, or time spent learning. All of these areas will be able to be tied to a digital equivalent, allowing them to be valued and earned for their use. Numerous examples already exist: NFT, the learn-to-earn movement, and blockchain games. Only for now it’s all scattered and carried out through different platforms. Web 3.0 will create a unified concept of valuing and expressing it through digital currencies.
Speaking about Web 3.0, it is impossible to remain silent about Metaverse. In its essence, the development of Metaverse is now equal to the development of Web 3.0. All the concepts: human existence in the new Internet, decentralization, multiplatform, anonymity, tokenization and the idea of development will get a single visual digital shell implemented in Metaverse.
What the transition of Web 2.0 to Web 3.0 looks like now
The transition of Web 2.0 to Web 3.0 has already been initiated, and there are a sufficient number of projects on the market that are developing in this area.
Thus, cryptocurrency wallets TrustWallet and MetaMask became alternatives of centralized banking services such as Vemno/PayPal. Steemit and InkDrop are alternatives to Reddit and Twitter, and Brave is an alternative to Google Chrome. All centralized services will get their decentralized improved copy.
Already, the Web3 Tokens by Market Capitalization sector is worth $53.76 billion and is represented by more than 100 projects from completely different fields.
The representatives of the classic Internet will also strive for a state of complete decentralization and the absence of censorship. The other day, FTX CEO Sam Bankman-Fried announced a mission to fix the “broken model” of social media with blockchain technology. As he stated in an interview with Bloomberg:
“The moderation policy of all social media today: three companies determine what to censor and what not to censor. It’s the wrong model.”