Web 3.0 – alltopics.info

A lot has changed since 1989 when the web concept was invented. A web consists of a complex system of interconnected elements, hosts, and users. At that time, it was web 1.0, where interaction was minimum and user experience was awful compared to what we have today. In 2000, we went from web 1.0 to web 2.0., where Facebook, YouTube, and Twitter were born. The number of users was dramatically increased.

We have now evolved and we are facing web 3.0, where decentralization plays a very important role in privacy. This is a more human-centered generation of the web. Instead of devices belonging to database servers, devices are now connected to a decentralized network. This makes web 3.0 safer, private, and better connected.

As we mentioned before, the key to Web 3.0 is user-centered, safety and privacy of users will be the primary goal that will be achieved by using blockchain technology.

We can conclude that the main difference between Web 2.0 and Web 3.0 is the fact that Web 2.0 was controlled by large corporations, while Web 3.0 will be decentralized and user-centered.

What are the benefits of Web 3.0?

Anti-monopoly and privacy. Web 3.0 It will not incentivize centralized platforms. For example, platforms like Facebook, Google+, and others may see their popularity decline due to new entities in the space providing similar services with decentralization in mind.

In short, we will see a complete change in which the central theme will be privacy and decentralization. The intermediary will not need these types of platforms. This move will be facilitated with the help of blockchains like Ethereum, EOS, NEO, and others.

Big corporations like Apple and Alphabet will lose their control over the network and user data. The government, on the other hand, will also see decentralization. For the best interest, it is sensible for corporations to adapt to the new Web 3.0 standards by providing decentralized services that focus on privacy and security, rather than control.

Safety. Web 3.0 will be more secure than its predecessors. This is possible by two factors which include the distributed nature and decentralization. Hackers or exploiters will find it difficult to penetrate the network. Also, if they can, each of their operations can be tracked and retracted within the network.

Without centralization, it will also be difficult for hackers to take full control of an organization. However, blockchain platforms suffer from some types of exploits, such as the 51% attack, but most blockchain applications and platforms can be quickly patched to protect against these types of threats.

Data ownership. Users will find it easy to trust Web 3.0. Until now, user-generated data was stored and used by large corporations. With Web 3.0, end users will have full ownership of their data. The data that is transferred over the network will be fully encrypted. In addition, users will be able to decide what information they want to share with corporations or third-party advertising platforms. However, the current trend is completely different. Large organizations like Amazon, Facebook, or Google store user data in many ways, including their income, interests, eating habits, etc.

With Web 3.0, users can sell their data to corporations and make money from it.

Interoperability. Interoperability is one of the key features of Web 3.0. With a decentralized network, it will be easier for applications to work on different devices and platforms, such as televisions, smartphones, smart roads, etc.

Developers will also find it easy to develop Web 3.0 applications. An example of this includes EOS which provides interoperability. Unlike Ethereum, developers don’t have to learn a new language. Developers can easily develop Apps with different devices in mind.

Distributed systems are less prone to service interruption. As there is no central entity for operation, it becomes difficult for a distributed denial of service (DDoS) attack or other forms of service malfunction to try to have an impact. This makes Web 3 a great place to share critical data and services without worrying about service interruption.

Web 3.0 Apps

In order to understand this transition, we’ll enumerate these applications:

Social media. The social media apps we know are centralized. For example, in China, Facebook is banned. They don’t use facebook. Thanks to the web 3.0 revolution, you can now access to any decentralized platform from any part of the world. This makes social media democratized.
Exchange services. Decentralized exchange services are slowly gaining popularity as they provide a smooth exchange experience, without worrying about any hacking or transparency. This also means that there is no centralized authority or conflict of interest on the part of the owner. As we already know Web 3.0 depends on trust, it is a decentralized exchange. We are going to list some of the few decentralized exchange services out there.

Benefits of decentralized cryptocurrency exchanges

Cheaper and faster transactions
Hard to hack due to blockchain technology
Works well with hardware wallets
Users control their own funds

Insurance and Banking.

Both the banking and insurance sectors can see a revolution with blockchain technology. There are many use cases for this technology, and the impact can be seen earlier than you think. The transformation will take place through the use of blockchain features including transparency, security, and retraction ability. This means that fraud will not be possible in banking or insurance.

Records can now be kept on the blockchain. Also, smart contracts can be used to automate most tasks that do not require any human touch. The implementation of blockchain means that users will benefit the most. Insurance claims will be easy and the entire process can be carried out with minimal or no paperwork. False claims will also see a deterrent. Digitally savvy users will also find the change helpful.