WEB 3.0 is the next stage in the evolution of the internet, where the web becomes a platform for data and information exchange, rather than just a place to view content. One should understand the future demand and opportunities related to it.
What is WEB 3.0?
The term was first coined by Tim Berners-Lee, the inventor of the World Wide Web, in a paper called “Design Issues for the Semantic Web”. In it, he laid out his vision for a web that would be more than just a collection of documents, but a “web of data” that could be accessed and used by machines as well as humans.
Since then, the concept of WEB 3.0 has been further developed by a number of thinkers and developers, and there is now a general consensus around what it means.
In short, WEB 3.0 is the internet as a platform for data and information exchange. This means that instead of just being a place to view content, the web will become a place where data and information can be shared and used by anyone, anywhere.
Key Features in WEB 3.0
There are a number of key features that will make WEB 3.0 possible:
- The Semantic Web: The Semantic Web is a web of data that can be understood by machines. This data is structured in such a way that it can be used to answer questions and carry out tasks.
- Linked Data: Linked Data is a way of representing data on the web that allows it to be linked together. This data can be linked together regardless of where it is located or who owns it.
- The Web of Trust: The Web of Trust is a network of trust relationships that allows people to verify the authenticity of data on the web.
- The Decentralized Web: The Decentralized Web is a web that is not controlled by any one organization or entity. This means that anyone can create and publish data on the web, without needing to get permission from anyone else.
The shift to WEB 3.0 will have a profound impact on the way we use the internet and will open up new possibilities for how we interact with data and information.
Applications of WEB 3.0
There are a number of applications that are already being developed that take advantage of the features of WEB 3.0.
For example, the open source project Solid is developing a platform that allows people to control their own data, and to connect with other people and applications in a decentralized way.
There are also a number of projects that are using Linked Data to create new ways of navigation and search. For example, the project Twine is creating a search engine that allows you to search for data based on the relationships between it, rather than just keywords.
WEB 3.0 is still in its early stages, and there is a lot of work to be done in order to realize the full potential of the new web. However, the potential is immense, and WEB 3.0 has the potential to change the way we use the internet forever.
How does Blockchain Impacts WEB 3.0?
Web 3.0, which is driven by blockchain technology, may really be quite beneficial in a number of ways in terms of enhancing the internet and boosting its effectiveness.
With the help of blockchain technology, transaction speeds can increase astonishingly. Blockchain technology has the potential to drastically change how the internet will function in the future, from the first 7 transactions per second (TPS) of Bitcoin to the current 50000 TPS of Solana.
Blockchain technology has the potential to significantly enhance a number of key industry areas, including supply chains, digital health care, and digital transactions in general.
Blockchain technology has the potential to completely alter how we view social media platforms today.
However, there is one significant disadvantage of Blockchain on WEB 3.0 and that is SCALABILITY. No one can deny the security in Blockchain, but this impact is due to complexity when an organization is planning to scale up in future.
Opportunities in WEB 3.0
WEB 3.0 have significant opportunities in future. It varies from individual to entire government or private organization. Many Businessmen are looking for a new opportunity in WEB 3.0, which could help in building a successful profitable business. These are:
Cryptocurrency: In WEB 3.0 we could see an overall complete change of payment or transaction system. One can argue that everyone could pay others using Cryptocurrency only. In fact, many countries have accepted the fact that it’s a new era of Payment System Globally.
DAOs in WEB 3.0: DAOs stand for Decentralized Autonomous Organization (DAOs), as the name says, it’s a potential Organization in WEB 3.0 that runs with the agreed Stakeholders in running a certain goal or business, upon agreed rules with them. It could be either Government or private players who deal in business.
Cross-Connection Bridge in WEB 3.0: This deal with the interoperability of a system to another system. In short, if a Computer wants to communicate with another system (like Mobile, Android or iOS), then this could help in reducing the communication gap between them.
NFT in WEB 3.0: NFT stands for (Non-fungible token), is another great opportunity that has lot of potential earnings in it. One can own credit for their work, and even sell it to others.
RPA and AI in WEB 3.0: RPA stands for (Robotic Process Automation) that could help in doing the automated task more effectively. AI (Artificial Intelligence) deals with the smart automation way of doing the work. Both of these have significant profit in WEB 3.0.
Job Opportunities in WEB 3.0
Well, it’s the fact that everyone is adopting the new Technologies in WEB 3.0, so there is no doubt that there will be huge Job Opportunities in future for it.
Researchers have confirmed that Massive Machine Learning, Artificial Intelligence, CryptoCurrency and Data Science, will skyrocket in future for the business. So, new people can definitely find their interest and passion in it.
Is WEB 3.0 Reliable? What makes WEB 3.0 TrustWorthy?
Yes, it’s definitely reliable, because it implements so many new Trending Technologies and Cyber Securities.
Users have the flexibility to engage both openly and privately on the network without a third party putting them at danger, leading to “trustless” data.
All of us will have access to the Internet through Web 3.0, whenever we want and from wherever we are. At some point, unlike in web 2.0, Internet-connected gadgets won’t just be restricted to PCs and smartphones. However, a completely new Computer will be made.
Before making any modifications or putting them into action, it must also get the owner’s approval.
Summary
There isn’t a single, recognised definition of Web 3.0 since it is continually changing and being defined. However, it is certain that Web 3.0 will heavily emphasise decentralised apps and utilise blockchain-based technology. Artificial intelligence (AI) and machine learning will both be used in Web 3.0 to provide smarter, more adaptable apps.
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