What are Web 3.0 Technologies? The Future of the Internet Has Arrived

The Internet has come a long way since its inception in the 1980s. It’s gone from being a network only accessible to researchers and computer scientists, to a global network connecting nearly every person on the planet. Today, we have access to more information than ever before and can even shop online or stream movies directly from our computers. But as you read this article, imagine how much further the Internet could go. That’s right — we’re still just getting started with the Internet. The next generation of web technologies are currently being built, and they promise to bring about huge advancements in how we use the Internet going forward. This new set of internet-based technologies is called Web 3.0, or sometimes also referred to as “Web final version” or “Internet v3″ — let’s take a look at exactly what this new version of the Internet entails and what it means for you moving forward…

What is Web 3.0?

Simply put, Web 3.0 is the next major version of the Internet. It represents the next set of technologies that will be used to build the Internet and the next set of applications that will be built on top of this Internet. What this means is that Web 3.0 represents not only an improved version of the Internet from where we are today but also a completely new way of thinking about how the Internet works. It means that we’re no longer just building websites and apps that communicate with each other on a centralized network, but that we’ll now be building decentralized apps built on top of blockchains. What’s the difference between version 2 and version 3? Well, version 1 of the Internet is what existed before the Internet as we know it today went public. (It was just a network of computers that researchers and scientists used to share information.) Essentially, version 1 was an early precursor to what version 2 would later become, and version 2 is now the version that we currently all use today. Web 3.0 is the Internet as it will exist in the future, once all of its technologies have been fully developed and deployed.

Where is Web 3.0 Currently?

As we touched on above, Web 3.0 is still in development. While some of the technologies for it have been around for a while, most of the technologies that will comprise the entirety of Web 3.0 have not been fully developed yet. This means that you’re unlikely to see Web 3.0 exist in a state where it’s accessible for general public use for a few more years. However, that doesn’t mean that you can’t get an idea of what technologies will be used to build Web 3.0. As you’ll see below, there are several core technologies that will likely make up Web 3.0.

Why Web 3.0 Matters?

Web 3.0 matters because it represents a significant leap forward from the technologies that we use today to build the Internet and the applications we build on top of it. As you’ll see below, Web 3.0 brings about a number of advancements in key areas like blockchain technology, machine learning, and artificial intelligence. These advancements will result in a significantly more powerful and efficient Internet. What’s more, Web 3.0 technologies will be completely open source — which means that they will be accessible and usable by everyone. Web 3.0 will be a completely decentralized Internet. Currently, the Internet is built on centralized servers, which means that all of the information being shared back and forth between people is stored on servers that are controlled by a small number of companies. This means that our data can be hacked and misused. A decentralized Internet, on the other hand, means that the Internet will be built on a distributed network of computers. This means that the flow of information will be decentralized — and that no one organization or company will have complete control over it. What’s more, all of the technologies that comprise Web 3.0 are open-source — meaning that they’re publicly available and can be used by anyone. This means that the Internet, in general, will be a lot more accessible and that people will be able to build new, exciting technologies on top of them.

Web 3.0 applications examples

– Smart cities: Web 3.0 technologies will allow cities to become far more sustainable and environmentally friendly. This will allow cities to better manage their resources like water and electricity. – Voice-activated devices: Web 3.0 applications will allow us to control our devices with our voices rather than with buttons or switches. It will also allow us to create smart devices that are not programmed by human beings but by algorithms. – Artificial intelligence: The development of better machine learning algorithms will allow us to create ever more sophisticated AI. This could include advancements in the ability to understand human language, such-as voice commands, or the development of a “conscious” AI. – Distributed storage: Web 3.0 will allow us to store our data in a decentralized manner. This means that no one organization or company will have control over our data. – Digital identity: The advent of true digital identity management will have huge ramifications for the Internet. It could enable new ways to verify identity, reduce fraud, and enable easier login.

Bitcoin and Blockchain

Blockchain is the technology that underpins the first major application of Web 3.0 — cryptocurrency. The first blockchain ever built was the Bitcoin blockchain, the most popular application of blockchain technology. It’s important to understand how blockchain technology works. It relies on a decentralized network of computers that run algorithms — rather than a centralized network. Essentially, every computer in the blockchain network has a full copy of the ledger — including a full copy of all of the transactions that have ever been made. That means that every computer has access to the entire ledger — which makes blockchain technology incredibly secure. It’s incredibly difficult to hack into a decentralized network with a full copy of the ledger. What’s more, blockchain technology is transparent. This means that anyone with access to the network can see who made a transaction or who owns a particular digital asset. It also means that people can verify that the ledger has not been tampered with.

Solidity and Ethereum Virtual Machine (EVM)

The second major technology that will likely be used to build Web 3.0 is Ethereum. Ethereum is a blockchain platform that allows people to build applications on top of it. It’s similar in concept to the world wide web, but instead of serving as a platform for websites, it serves as a platform for applications. However, while the original blockchain that powers Bitcoin is open source, the Ethereum blockchain is proprietary. This means that while anyone can access the Bitcoin blockchain and audit the code, anyone who wants to build applications on the Ethereum blockchain must use the proprietary Ethereum Virtual Machine (EVM) software. What’s more, the EVM is not as secure as the Bitcoin blockchain. It has less robust security and is easier to hack — which is why Web 3.0 is unlikely to rely solely on the Ethereum blockchain for its technology. Instead, it’s more likely that Web 3.0 will use the Ethereum blockchain as a core component of the technology.

Smart contracts

One other technology that will likely be used to build Web 3.0 is the concept of the smart contract. While the Ethereum blockchain is currently the most commonly used technology to build smart contracts, it’s likely that other blockchain technologies will be used to build Web 3.0 — especially since Ethereum is not as decentralized as most people had hoped. What is a smart contract? Essentially, it’s a piece of code that is stored on a blockchain network. A smart contract can automatically execute when certain conditions are met. For example, you could use a smart contract to make a bet with a friend. The bet would be written in code and stored on a blockchain network. Once the conditions of the bet have been met, the blockchain network would automatically execute the terms of the bet and transfer the money to the winner.

Internet of Things (IoT)

Finally, one other core technology that will likely be used to build Web 3.0 is the Internet of Things (IoT). The internet of things is a network of physical devices that are connected to the internet. This includes everything from home devices like lights, to cars, and even medical devices. The advent of blockchain-based technologies has also ushered in a new era of IoT devices. The internet of things (IoT) is a system of interrelated computing devices, mechanical and digital machines, objects, animals or people that are provided with unique identifiers (UIDs) and the ability to transfer data over a network without requiring human-to-human or human-to-computer interaction.

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