What is web 3.0?
You might have heard about this over and over again with no clear information. This is because web 3.0 is evolving and would look way different in 10 years than what we see today. Let us cover some possibilities which might help us visualize a web 3.0 application.
'Open’ in that they are built from open-source software built by an open and accessible community of developers and executed in full view of the world.
‘Trustless’ in that the network itself allows participants to interact publicly or privately without a trusted third party.
‘Permissionless’ in that anyone, both users and suppliers, can participate without authorization from a governing body.
'IPFS' -> IPFS is a postal system, but it is not centralized around a group of root servers like the HTTP protocol. The goal in the design of IPFS, which is a child of blockchain technology, was to create a peer-to-peer file system that worked after the fashion of BitTorrent, the file streaming service that is frequently used to download and share videos and music.
Digital identities are another technology that was spawned by the blockchain, and it may become the most important feature of Web 3.0. The point is that Web 2.0 is infested with cybercrime—dark deeds of every description from identity theft to click fraud.
Digital IDs enable two important features of Web 3.0:
1. The severe reduction to the point of elimination of cybercrime.
2. Individuals will be able to manage and grant access to their personal data.
'Semantic Data and Information
Think about searching for products. Nowadays in the US, more product searches happen on Amazon than on Google. Yet neither of these Web 2.0 giants can answer detailed product questions like “what is the best deal available for a 55” HD TV for delivery within 2 days. ”From the consumer’s perspective, a practical answer to such a question would serve up a range of information, offering possible choices rather than just a set of web links.
That kind of capability will be part of Web 3.0 by virtue of semantic technology. It will save buyers and sellers a good deal of time in the sales cycle.
Advancements such as above with a mix of IoT, AI, robots, and 3D graphics will give birth to next-generation applications.
Web 3.0 is a journey that would take a few years to shape and impact our lifestyle in a meaningful way.
3Blocks is a web 2.5 application and our goal is to incorporate as much as web 3.0 characteristics as quickly as possible.