The invention of the World Wide Web is considered to be one of the greatest inventions in history. This invention, which made the internet accessible to everyone, has become an integral element of how we live and interact. Following the success of the metaverse, Web 3.0 is the current term sweeping the Internet globe. Web 3.0, often known as the decentralized web, is the third generation of the Internet that improves on the previous Web 2.0 Internet.
The Evolution of Web.
Sir Tim Berners-Lee, a British computer scientist born in London, founded the World Wide Web (WWW), usually known as “the Web,” in 1989. Following his graduation from Oxford University, Berners-Lee worked as a software developer at CERN, a major particle physics facility in Geneva, Switzerland, where scientists from all over the world gathered to use its accelerators. Sir Tim, on the other hand, observed that communication was an issue. Various types of information were stored on different computers at the time, but accessing them required signing in to many computers, and often learning a different application on each machine.
Tim detailed his idea for the web in a document titled “Information Management: A Proposal” in March 1989. The core idea was to merge the rapidly expanding technologies of computers, data networks, and hypertext into a powerful and user-friendly worldwide information system.
As a result, the web was initially envisioned and then developed to address this desire for automated information-sharing among scientists in universities and institutes all over the world.
The phrases “internet” and “web” are not interchangeable; they refer to two distinct but related concepts. The Internet is essentially a network that connects millions of computers throughout the world, allowing any computer to communicate with any other computer. While, the World Wide Web or what we call “Web” is a technique of obtaining information through the internet by displaying web pages on a browser.
Introduction to Web 3.0.
Satoshi Nakamoto reportedly invented Bitcoin, the world’s first cryptocurrency, in 2009. He envisioned his invention as a peer-to-peer financial system and alternative payment method that would be free of any central control or laws. His invention, aimed at decentralization, anonymity, and freedom, became a foundation of Web 3.0.
Web 3.0 is based on the ideals of decentralization, anonymity, and influence independence. It is decentralized in the sense that it functions on a distributed peer-to-peer basis, with no single entity able to directly influence or change the system’s course. Anonymous is founded on the idea that a user’s identity has no influence on their ability to engage in the system. There are no restrictions or rules, so there is no influence.
Networks are peer-to-peer decentralized in this period, developed, run, and maintained by users rather than companies. Through Artificial Intelligence and Machine Learning, computers can understand information in the same way that humans do, allowing them to automatically develop and share relevant content tailored to a specific user’s needs.
Most importantly, Web 3.0 obscures the long-standing control that large technology businesses and governments have over people. Unlike in Web 2.0 and Web 2.5, when content providers and controllers held considerable power, the user has greater authority in Web 3.0.
Apple’s Siri, Google’s Cloud API, and Wolfram Alpha are examples of Web 3.0.
Key Features of Web 3.0.
Semantic Web.
Semantic markup is a term that refers to the communication gap that exists between humans and technological systems. One of the most difficult aspects of displaying information on the web is that programs cannot add context to data and, as a result, cannot determine what is relevant. Data in Web 3.0 could be put in a form that is not only accessible to people through natural language but also understood and interpreted by machines and software applications by using some semantic markup (or data exchange standards).
3D Graphic and Virtual Identity.
Web 3.0 will change the internet’s future by switching from a two-dimensional web to a more realistic three-dimensional cyber world. 3D design is commonly employed in Web 3.0 sites and apps such as online gaming, eCommerce, and the real estate business. This feature also allows people to play the role of an avatar in a virtual world and explore, meet other occupants, participate in individual or group activities, and so on, exactly as if they would in real life. All interactions between avatars occur in the virtual world would have no effect on real-time events.
Artificial Intelligence.
This is the ability to read natural language and comprehend meanings. This feature makes it easier to distinguish between true and false data and generates more trustworthy data. Web 3.0 enables computers to grasp information in the same way that humans do by integrating this capability with natural language processing, resulting in faster and more relevant results. They become more intelligent in order to meet the needs of consumers.
Advantages of Web 3.0.
To put it simply, Web 3.0 improves on the shortcomings of Web 2.0 and Web 2.5, which can be divided into the following categories:
Trust.
Some may argue that the blockchain’s most significant gift is automatic trust. The blockchain can go beyond the safety that digital IDs can provide by creating a trust network.
Some blockchains allow the creation of “smart contracts,” which are blockchain-attached programs that run when a specified blockchain event occurs. The most important aspect of smart contracts to remember is that the contract is the software code.
As a result, smart contracts are far more trustworthy than legal contracts. Legal contracts are enforced by the legal system, which differs in its reliability from place to place but is never perfect.
Smart contracts, of course, can be significantly more complex than that example. They have the potential to cover many circumstances that are currently covered by legal contracts, reducing the danger of fraud.
Anonymity and Control.
Most of the platforms and services we use on a daily basis require us to supply personal information in order to use them. As a result, data leaks occur, and the owners of such sites just sell our personal information for profit. Even big corporations like Facebook and YouTube uses your information.
Dapps, or what we call decentralized apps can be created by Web 3.0 app developers that allow users all over the world to use them without submitting any sensitive or personal data. Blockchain technology allows for this.
Furthermore, the owners of currently platforms have the authority to make judgments that may or may not affect you. In this circumstance, you have no power over the platform, and it only takes one order to disconnect you. Web 3.0 apps (Dapps) use blockchain to bypass this issue. Everything has been decentralized, and there is no longer a single “Point of Failure” that might be used to gain control of the system. Web 3.0 might create a truly autonomous future that empowers people to make decisions for themselves by using Smart Contracts to maintain the system trustless, anonymous, and free of external control.
Rich User Experience.
As annoying as commercials can be, there’s no doubting the convenience of being able to instantly click over to a special offer on something you genuinely need or want but might otherwise neglect.
Web 3.0 promises a much more personalized surfing experience. Websites will be able to adapt to our device, location, and any accessibility requirements we may have, and web apps will become far more aware of our usage patterns.
More than simply webpages will benefit from the multidimensional Web 3.0; web apps will begin to create substantially richer experiences for users. Consider Google Maps, which can now combine basic location search with route directions, lodging recommendations, and real-time traffic updates. In the Web 2.0 era, this was just not conceivable.
How to Make Money from Web 3.0?
The next big thing is Web 3.0. As a result, understanding how to use this technology to generate continuous money is advantageous.
If you are a creative who wants to be financially independent while doing what you love, Web 3.0 can help you get there.
Web 3.0 provides legal opportunities to generate money online from the comfort of your own home. Here are some examples of how you can use this power:
Decentralized Autonomous Organizations (DAO).
Individuals relied on venture capital and traded away a portion of their business in the traditional strategy to launching a company to create the funds needed to expand the concept and firm, which comes with many risks. The process of starting and developing an idea is simplified with Web 3.0. The initiative, which addresses a real-world issue, has been announced. Then, from the start, everyone can contribute to its construction or invest in it.
The corporation announces the release of X number of tokens and distributes 10% to early builders, 10% to the general public, and the remaining 10% is placed away for future contributor payments and project finance. Stakeholders can use their tokens to vote on changes to the project’s future, and those who helped construct it can sell some of their shares to profit after the tokens are distributed. People who believe in the initiative can acquire and keep ownership, while those who fear the project is heading in the wrong path can sell their stake.
DAOs, unlike corporations, are organizations that are owned and governed by their members. DAOs are administered by a set of rules or agreements (smart contracts in the form of code) that are automatically applied based on specified blockchain activity. You may make money by getting others to invest in your company concept when you start a DAO. You can also access a great number of investors, resulting in significant funding for your company. To get started, all you need is a strong idea and a team of blockchain developers.
NFTs.
Did you realize that a PNG or GIF image might get $50,000? If you don’t, it’s time to start exploring the world of NFTs. NFT is an abbreviation for Non-Fungible Token. They are pieces of art, but instead of being shown in museums, they are digital, comparable to your phone’s background or random photographs you download from the Internet.
Trading NFTs now is one of the most ethical ways to generate money. You are basically asking millions of dollars for a 200kb PNG, GIF, MP3, or JPEG. NFTs sell at high prices because of the Metaverse concept. NFTs can be used in the Metaverse to show your support for a certain project or membership in a community within or outside of the virtual reality. As a result, like-minded individuals may form communities in which they can share ideas and collaborate on initiatives.
Cryptocurrencies.
Since Satoshi Nakamoto published the initial Bitcoin whitepaper in 2008, the cryptocurrency industry has grown significantly. After more than a decade, most people have heard of the terms “Bitcoin” and “Cryptocurrency.” Since its start in 2009, the crypto industry has generated a fair amount of money for early adopters and investors. While early advances in cryptocurrency have already been accomplished, the industry is still in its early stages of development. There are numerous ways to create money and generate revenue in this industry. However, due to the inherent volatility of crypto assets, the bulk of them are high-risk, while some require technical knowledge or ability.
DApps and DAOs Developer.
Every day, several DAO projects are created, which means that there are more options for developers to find projects they enjoy and earn money by contributing to them. In addition, as Web 3.0 grows in popularity and use, so does the demand for Web 3.0 apps (Dapps) and technologies.
Final Thoughts.
Web 3.0 is gaining popularity in a wide range of industries, including music, video streaming, and even gaming.
Thousands of people are working hard at making this space more accessible to all. You will soon be using Web 3.0 apps without even realizing it.
What are your thoughts about Web 3.0? Let us know in the comment section down below.
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