THE WEB3.0 REVOLUTION
Web3 is being touted as the future of the internet,
The vision for this new ,blockchain-based web
Includes cryptocurrencies, NFTs, DAOs, decentralized finance and much more
AND HERE IS WHY...
Imagine a new type of internet that not only accurately interprets what you input, but actually understands everything you convey, whether through text, voice or other media, one where all content you consume is more tailored to you than ever before.
One that gives you full privacy controls over the data you share with other parties, allows you to earn money if you provide it to advertisers or interact with certain applications, and remains free from draconian third-party censorship
We are at the tipping point of a new phase in the web’s evolution. Some early pioneers called it Web 3.0, a name coined by Polkadot and Ethereum co-founder Gavin Wood. Nowadays, we mostly call it Web3.
Web3 applications that already exist today and are making huge strides each month, but until the new internet becomes fully embedded in the web infrastructure, their true potential will be difficult to observe
But what exactly is Web3, what will it look like and how would it change our lives?
What Is Web3 (or Web 3.0)
Web3 is the third generation of the internet currently being built, where websites and apps will be able to process information in a smart human-like way through technologies like artificial intelligence (AI), machine learning (ML), Big Data, decentralized ledger technology (DLT), and more.
Web3 was in fact originally called the Semantic Web by World Wide Web inventor Tim Berners-Lee, and was aimed at being a more autonomous, intelligent, and open internet.
The Web3 definition can be expanded as follows: data will be interconnected in a decentralized way, which would be a huge leap forward for our current generation of the internet (Web 2.0), where data is mostly stored in centralized repositories and therefore subject to manipulation or worse.
WHAT IS WEB3 USED FOR?
■ METAVERSE
■ BLOCKCHAIN GAMING
■ CREATOR ECONOMY
■ DECENTRALIZED AUTONOMOUS ORGANISATIONS (DAOs)
■ DECENTRALIZED FINANCE ( DeFi)
WHAT ARE THE KEY FEATURES OF WEB3
• Ubiquity
• Semantic Web
• Artificial Intelligence (AI)
• Spatial Web and 3D Graphics
• Decentralization through blockchain
• UBIQUITY: Ubiquity means being or having the capacity to be everywhere, especially at the same time. In other words, omnipresent.
• SEMANTIC WEB: Semantic(s) is the study of the relationship between words. Therefore, the Semantic Web, according to Berners-Lee, enables computers to analyze loads of data from the Web, which includes content, transactions and links between persons
• SPATIAL WEB AND 3D GRAPHICS:
Some futurists also call Web3 the Spatial Web as it aims to blur the line between the physical and the digital by revolutionizing graphics technology, bringing into clear focus three-dimensional (3D) virtual worlds.
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