If the 21st year of the 21st century brought us anything other than a coronavirus, then it is a supply chain problem or inflation. It was the mainstreaming of the phrase Web3. Web 3.0, a highly undefined idea, has been welcomed as the future of the internet by crypto and blockchain enthusiasts.
The goal is to build a decentralised network in which consumers may move data from service to service without being hindered by corporate closed systems. It’s a mash-up of tech buzzwords ranging from NFTs to the metaverse that has piqued the interest of major venture capital companies.
Assume a new form of the internet that not only correctly translates what you enter. But also understands what you say, whether through text, speech, or other media and in which the content you take up is more personalised to you than ever before. We have reached the tipping point of a new stage in the evolution of the web. Some groundbreakers refer to it as Web 3.0.
There are a few early-stage Web 3.0 apps that exist now. However, their real potential cannot be seen until the new internet is completely incorporated into the web network. Here, you are going to look into the definition and examples of Web 3.0 and the decentralisation of the Internet.
Web 3.0 Definition
Web 3.0 refers to the forthcoming third generation of the internet, in which websites and applications will be able to process information in a clever human-like manner using technologies such as machine learning (ML), Big Data, decentralised ledger technology (DLT), and many more.
The description of Web 3.0 may be broadened as follows: data would be networked in a decentralised manner. That would be a significant improvement over our present generation of the internet (Web 2.0), where centralised repositories store the data.
Users and machines will also be able to engage with data. However, for this to happen, programs must comprehend information theoretically as well as contextually. Thus, the semantic web and artificial intelligence (AI) will become the two pillars of Web 3.0.
Tim Berners-Lee (2001), the developer of the World Wide Web (WWW), released an article in Scientific American magazine. This article laid the groundwork for the Semantic Web. Berners-Lee described how two brothers organised the logistics to assist their mother’s healthcare by employing intelligent agents. That helped to handle all of the planning and execution of the process automatically while communicating with clinical systems, among themselves, and with their home equipment.
Machines collaborate with users in content creation and decision-making in Web 3.0. Further, converting the internet infrastructure from a supporting entity to a protagonist entity in content/process generation.
Web 3.0 technologies
Several experts are interested in the abstract notion of a decentralised web (dWeb). The concept suggests reorganising the Internet to eliminate centralised data hosting services in favour of peer-to-peer architecture. While researching about this technology, there are a few aspects to bear in mind. First and foremost, the notion is not novel. Back in 2006, Jeffrey Zeldman, one of the early inventors of Web 1.0 and 2.0, wrote a blog post expressing his support for Web 3.0. However, discussions on this subject began as early as 2001.
How does this new internet relate to Cryptocurrency?
We may expect a strong synergy and symbiotic interaction between these three technologies and other disciplines. Web 3.0 networks will run through decentralised protocols. Later known to be the building blocks of blockchain and cryptocurrency technology. They will be interoperable, seamlessly integrated, and automated through smart contracts. Furthermore, it is used to power everything from microtransactions in Africa to censorship-resistant P2P data file storage. Moreover, using Web 3.0, crypto coins like Filecoin completely change the way of sharing files.
What is Decentralised Internet?
Decentralisation of the Internet implies that the systematic level of group controls the Internet. It consists of millions of devices joined together in an open network. Nobody has the authority to own it, manage it, or turn it off for everyone.
The Internet and the World Wide Web continue to be the largest decentralised communication systems that humanity has ever seen. That was very much part of the design: the Web creators wanted everyone to have the ability to generate and access information.
However, the advantages of a decentralised Internet are dwindling. When we focus our online activity on only a few social networks and messaging apps, it narrows our Web experience primarily to information that appeals to our likes in search results and social media streams. We are consumers rather than creators here.
Although the Internet remains decentralised, a small group of global technology giants controls the activities we do on it every day. These corporations are beginning to resemble monopolies from the past.
Why is the Internet decentralised?
The primary distinction between old, centralised technology platforms and emerging, more agile decentralised networks is in the locus of control. For example, at Facebook, all data posted and moved on the platform must transit through one of the company’s data centres, creating a single point of failure if something goes wrong or a hacker penetrates the system. The control is distributed over a network of hundreds or thousands of members. Each of these bestows store capacity to the system, in the case of a decentralised network, such as the worldwide storage network Filecoin. Multiple users, many points of access – and less risk of a single catastrophic failure.