What is web 3.0? Why is it important?

Today, we’re discussing about What is web 3.0? Why is it important? and more.. Hope you will like it.

You may hear of Web 3.0 nowadays. Whose discussion has been going on for a very long time? Not only this, but in the present times also its discussion has gained momentum. It is believed that Web 3.0 will completely change how the Internet is used.

However, some people call it Metavarse, while others believe in the advent of Web 3.0 will decentralize the Internet. Not only that but it is also linked to cryptocurrency and blockchain.

The question is, is this Web 3.0? So to understand that, we need to go back in time because it is connected to Web 1.0. So let’s start with Web 1.0 first.

Web 1.0 came in 19th

The World Wide Web was launched 18 years ago. The Internet of that time was something different from the current Internet. At that time, users could only use it in test format. Also called Web 1.0. The launch of Web 2.0 followed this.

The Internet we are currently using is called Web 2.0. However, web 2.0 can be controlled and is not decentralized.

Most of the Internet content is searched on Google. However, Google is a private company. As a result, when a user uses Google as a search engine, the user’s data reaches a private company.

What is Web 3.0?

The advanced version of Web 2.0 will be called Web 3.0. The biggest thing is that no company will control the users. Web 3.0 will not have a company, but each user will own its content. This is understandable because, at present, Google can take advantage of its search engine if it wants to.

As such, Google can manipulate search results. Google has also been accused of tampering with the results several times. As a result, companies like Google and Facebook have a monopoly. Yet, with the advent of Web 3.0, the monopoly will certainly come to a head.

Why is it important?

Web 3.0 matters because:

• Societies can be made more efficient by dismantling industries, reducing third parties seeking rent, and returning this value directly to users in the network.
• Organizations can become more resilient to more adaptable peer-to-peer communication and change through their new mesh of governance relationships between participants.
• Humans, machines, and enterprises can share more data with greater privacy and security assurance.
• We can do future-proof investment activities by virtually eradicating the platform dependency risks we observe today.
• We can own our data & digital footprints by using a provable digital scarcity of data & tokenized digital assets.
• Through these new decentralized systems of intelligence and ‘modern mutual’ ownership and governance of sophisticated economic incentives, network participants can collaborate to solve previously complex or ‘thinly spread’ problems.

The concept of Web 3.0 is to decentralize the Internet

Web 3.0 is based on the basic blockchain. Its concept is to decentralize the Internet. Cryptocurrency is also based on blockchain. That is why the cryptocurrency is a decentralized currency.

Decentralized currency means that users’ money is not in any bank like normal currency. Instead, the common currency is kept in the bank. So when the bank sinks, the users’ money also sinks. This can cost thousands of crores, but not in cryptocurrency.

What will change in the lives of users?

With the start of Web 3.0, users will hold more power. Users will have the sole right to the content. Instead, tokens to users will be given. Users will be capable of publishing their content on any platform, which will be the sole right of the users.

Currently, if users on Facebook or YouTube upload the content, that content becomes Facebook and YouTube, which he uses for his benefit. While in Web 3.0, no company decides whether to delete or retain users’ content.

Elon Musk does not support Web 3.0

Everyone has a different definition of Web 3.0. For example, Tesla CEO Elon Musk and Viter founder Jack Dossey are not supporting Web 3.0.

Musk says that Web 3.0 feels like marketing. However, there is another fact that Tech World has been working on Web 3.0 for a long time. Web 2.0 could be replaced by Web 3.0 in 10 years.

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