As internet technology keeps evolving, users expect more options and convenience to make the best use of the new features. Accordingly, there is a constant transformation of the internet. Things like digital currencies or cryptocurrencies dominating the internet are currently growing in importance. The internet features are undergoing a massive transformation to support such advanced digital activities. It is ushering in a new era that people prefer to name web 3.0 to give it a distinct identity that underlines its increased potential. To support the Metaverse, NFTs, and other digital assets, we need to build a much more powerful and versatile internet, and it answers the question of what is web 3.0.
The emergence of web 3.0
As the internet is constantly transforming, it is difficult to determine precisely when the new internet came into being. The initial version of the internet, designated as Web1.0, lasted from the 90s to the end of the twentieth century; Web2.0 started its journey in the millennium that lasted for almost 13 years until, in 2014, Ethereum co-founder Gavin Wood gave the world a taste of the semantic web. The internet could now do many more things than just connecting users, and it could engage users as well devices and systems that constitute smart homes and smart living extending up to smart workplaces and smart vehicles. So, in brief, this is the web 3.0 definition.
The phases of transition from Web1.0 to Web 2.0
Users can understand the transformation of the web by relating to their experience of using the internet, which changed drastically over the years. The features of Web1.0 were fundamental and focused on exchanging data by using features like Email. Communication was the essence of using the internet but in a static form. As users started exploring more options of using the internet more creatively and effectively to carry out activities more conveniently, we saw the emergence of Web2.0 in 2005, marked by the use of user-generated content. During this time, the rise of social media was a significant web development that ensured intense user engagement. Users could interact with one and all they desired by using the internet, and businesses too started exploring ways of using the internet for transaction business.
Google docs, Google Maps, WordPress, Facebook, YouTube, and Twitter all happened during this phase.
Entering the latest phase
Over time, the possibility of exploring new horizons on the internet became a reality by incorporating the latest technological features based on Machine Learning (ML), Artificial Intelligence (AI), and the Internet of Things (IoT). Added to it is the blockchain technology that is set to change the basic tenets of online transactions by making is more secure and authentic. Blockchain is a decentralized ledger system that decentralizes the data storage system and makes data storage more secure and trustworthy. Cryptocurrencies owe their popularity to blockchain technology and smart home gadgets like Smart Home Assistants like smartwatches, virtual reality, and Alexa. Siri, Google Assistant, and more are web 3.0 examples.
Web 3.0 promises to provide a much-improved internet experience that will profoundly impact our lives and the economy.
