Introduction of Web 3.0 as the next natural stage in the development of the modern internet.
The internet is arguably the most important invention in the history of humankind – a worldwide technology with seemingly no borders or boundaries that allows the free and instantaneous exchange, transmission, and dissemination of information and channels of communication. The internet has critics that point out its growing centralization, state control, and technological limitations. Still, the concept of the internet is in constant motion and evolution, morphing and evolving to suit the growing needs of modern users.
A Little Backstory
The internet started out as Web 1.0 – a basic network of scholars and academics created back in 1989 in the form of the Static Web that existed all the way until 2005. This primordial form of content exchange had no interactive features and consisted solely of article posting with little to no interaction on the part of users. The lack of vital instruments allowing communication and the application of algorithms for sifting, listing, posting, or adjusting made this iteration of the internet a limited and restrictive environment with few application cases and virtually no value for businesses – the driving force of progress.
But progress requires constant evolution, spurred by the growing demand for functionality. Ironically, functionality is limited by freedom and control, which are tethered to the technologies available and the existing supporting infrastructures. The same applies to the internet, which is limited by its centralization and limitations imposed by state control, thus hampering the introduction of such information processing systems as artificial intelligence. The inclusion of machines in a new and decentralized form of the internet would lead to intelligent forms of content creation and distribution.
This is where Web 3.0 is supposed to take on the mantle of the next iteration of the internet as a Semantic Web, allowing the automatic connection and interfacing of this global web with devices, people, and various systems.
What Is Web 3.0?
Centralization is the biggest limitation of the internet in its current form. It limits individual freedoms of creation and development through state control and technological factors that cannot introduce and incorporate advanced features.
The purpose of Web 3.0 is to hand over sovereignty of profits and information control from centralized centers of internet governance to the creators and owners of the information and data being posted on the internet. Simply put, those who devote their time and effort to create information must be the sole beneficiaries of the control, dissemination, and impact of such information posted on Web 3.0.
The only way of achieving freedom from centralization is the transition from traditional server-based architectures to decentralized networks operating on the basis of blockchain technologies. This is the ultimate goal of Web 3.0 – making a move to a fully decentralized environment that would allow individuals to connect to a form of the internet, where they own their information and can be compensated adequately for it without the interference of giant corporations or centralized data repositories that currently own user data and profit from its use.
The core of Web 3.0 resides in the application of interoperable, fast, and scalable blockchain systems for ensuring seamless information exchange using flexible smart contracts with the help of automated governance protocols based on artificial intelligence. Such smart contracts are infinite and have endless possibilities that include anything from micro-transactions in decentralized financial services or web content posting and website traffic channeling.
The Advantages of Transition To Web 3.0
Average users with a limited set of interaction cases with the internet see Web 2.0 as a highly convenient and completely suitable form of content consumption and creation. The features seem adequate and wholesome enough to post, read, view, and absorb content. However, website and application developers see it differently from the perspective of functionality and profitability, since Web 2.0 is technologically dependent on the supporting centralized infrastructures and providers that monetize on the provision of their services and limit the integration of new and advanced technologies.
Among the main advantages that Web 3.0 proposes is its decentralized nature, which will allow such a form of the internet to be accessible anywhere by anyone by relying on the Internet of Things as a way of disconnecting from computer-based networks.
The next major advantage is the inclusion of advanced semantics, which will use artificial intelligence to understand the syntax of words and symbols to identify meanings. Semantic technologies will allow the machines incorporated into Web 3.0 to identify and understand emotions and meanings, thus ensuring a better user experience and targeting.
Complete detraction from human-based forms of control is the main advantage of Web 3.0, as it implies the broad use of artificial intelligence for running the entire system. The human-controlled nature of Web 2.0 opens up vast opportunities for corruption, which range from illegal use of private data and paid review creation to all-out data manipulation. The inclusion of AI-based algorithms will allow the web itself to distinguish genuine human behavior from fraud and thus feed users with reliable data streams based on their queries and needs. The automated filtering of data is a major milestone Web 3.0 promises, one that will ultimately improve user experience and clean up vast amounts of content like spam and other types of digital garbage.
However, visualists see graphics and the transition to completely digital worlds as the main advantage of Web 3.0. As a spatial web, Web 3.0 will incorporate advanced visual graphics that are aimed at creating photorealistic renditions of locations and entire worlds. The introduction of such environments is considered to be the final push to erasing the line separating the distinction between the real and virtual worlds. The applications for such visual technologies are endless, as virtual reality and augmented reality can blend with Web 3.0 under the operation of AI to give developers unlimited possibilities for transitioning not only games and businesses but the everyday lives of users into the online space.
The Technologies of Web 3.0
Though there are no truly Web 3.0 applications or projects as yet, the foundation for its broader use is being laid through the adoption of blockchain technologies and cryptocurrencies. The rise of decentralized finance protocols and their large-scale application by major financial gateway providers has greatly accelerated and encouraged the development of Web 3.0 as a viable and profitable technology that is proving its worth as a competitive structure capable of supporting massive streams of data.
The technologies that will be supporting such development are currently largely aimed at facilitating financial transactions and their scaling. The use of smart contracts is at the forefront of such adoption, leveraging their versatility and their capabilities of interacting with Layer 2 solutions for speeding up transfers. These smart contracts will be acting as the main vehicles of all financial and other types of information within Web 3.0, facilitating its transmission and dissemination.
For Web 3.0 to be flexible and efficient, data mining will be at the forefront of the technologies applied, as the AI will rely on advanced algorithms for sifting through massive databases in search of reliable and verifiable content.
Natural language search, or semantics, will be another major technology that will enable the AI to identify natural human speech patterns and extract their meanings, thus analyzing sentiment, context, and other factors for better content matching.
Machine learning will be the core of Web 3.0 as the technology that will enable the underlying Web 3.0 AI to constantly learn and adapt to changing user behavior.
Web 3.0 is the next evolution of the internet that most average users today may not even know about or care to think about. However, poorly explained or advertised so far, the introduction of Web 3.0 as the next natural stage in the development of the modern internet is inevitable. It will take time, of course, but the seemingly advanced and exciting features that modern users embrace today in the form of VR and AR, or DeFi and cryptocurrencies, will be common in Web 3.0, thus highlighting the ultimate value of this next iteration of the internet.