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What is New in WEB 3.0 – The New ERA of the Internet

WEB 3.0 is the next stage in the evolution of the internet, where the web becomes a platform for data and information exchange rather than just a place to view content. One should understand the future demand and opportunities related to it.

Today at DigitalGyan, we will discuss WEB 3.0 in complete detail with future opportunities.

What is WEB 3.0?

The term was first coined by Tim Berners-Lee, the inventor of the World Wide Web, in a paper called “Design Issues for the Semantic Web”. In it, he laid out his vision for a web that would be more than just a collection of documents but a “web of data” that could be accessed and used by machines and humans.

Since then, the concept of WEB 3.0 has been further developed by some thinkers and developers, and there is now a general consensus around what it means.

In short, WEB 3.0 is the internet as a platform for data and information exchange. This means that instead of just being a place to view content, the web will become a place where data and information can be shared and used by anyone, anywhere.

Key Features in WEB 3.0

There are many key features that will make WEB 3.0 possible:

  • The Semantic Web: The Semantic Web is a web of data that machines can understand. This data is structured so that it can be used to answer questions and carry out tasks.
  • Linked Data: Linked Data is a way of representing data on the web that allows it to be linked together. This data can be linked together regardless of where it is located or who owns it.
  • The Web of Trust: The Web of Trust is a network of trust relationships that allows people to verify the authenticity of data on the web.
  • The Decentralized Web: The Decentralized Web is a web that is not controlled by any one organization or entity. This means anyone can create and publish data on the web without needing permission from anyone else.

The shift to WEB 3.0 will profoundly impact how we use the internet and will open up new possibilities for how we interact with data and information.

Applications of WEB 3.0

There are many applications that are already being developed that take advantage of the features of WEB 3.0.

For example, the open-source project Solid is developing a platform that allows people to control their own data and connect with others and applications in a decentralised way.

There are also several projects that are using linked data to create new ways of navigating and searching. For example, the project Twine is creating a search engine that allows you to search for data based on the relationships between it rather than just keywords.

web 3.0 future applications
What is New in WEB 3.0 - The New ERA of the Internet 1

WEB 3.0 is still in its early stages, and there is a lot of work to be done in order to realize the full potential of the new web. However, the potential is immense, and WEB 3.0 has the potential to change the way we use the internet forever.

How does Blockchain Impacts WEB 3.0?

Web 3.0, which is driven by blockchain technology, may really be quite beneficial in a number of ways in terms of enhancing the internet and boosting its effectiveness.

With the help of blockchain technology, transaction speeds can increase astonishingly. Blockchain technology has the potential to drastically change how the internet will function in the future, from the first 7 transactions per second (TPS) of Bitcoin to the current 50000 TPS of Solana.

Blockchain technology has the potential to significantly enhance a number of key industry areas, including supply chains, digital health care, and digital transactions in general.

Blockchain technology has the potential to completely alter how we view social media platforms today.

However, there is one significant disadvantage of Blockchain on WEB 3.0 and that is SCALABILITY. No one can deny the security in Blockchain, but this impact is due to complexity when an organization is planning to scale up in future.

Opportunities in WEB 3.0

WEB 3.0 have significant opportunities in the future. It varies from an individual to an entire government or private organisation. Many businessmen are looking for a new opportunity in WEB 3.0, which could help in building a successful, profitable business. These are:

Cryptocurrency: In WEB 3.0 we could see an overall complete change in the payment or transaction system. One can argue that everyone could pay others using Cryptocurrency only. In fact, many countries have accepted the fact that it’s a new era of Payment System Globally.

DAOs in WEB 3.0: DAOs stand for Decentralized Autonomous Organizations (DAOs), as the name says, it’s a potential Organization in WEB 3.0 that runs with the agreed Stakeholders in running a certain goal or business, upon agreed rules with them. It could be either Government or private players who deal in business.

Cross-Connection Bridge in WEB 3.0: This deal with the interoperability of a system to another system. In short, if a Computer wants to communicate with another system (like Mobile, Android or iOS), then this could help in reducing the communication gap between them.

NFT in WEB 3.0: NFT stands for (Non-fungible token), is another great opportunity that has lot of potential earnings in it. One can own credit for their work, and even sell it to others.

RPA and AI in WEB 3.0: RPA stands for (Robotic Process Automation) which could help do the automated task more effectively. AI (Artificial Intelligence) deals with the smart automation way of doing work. Both of these have significant profit in WEB 3.0.

Job Opportunities in WEB 3.0

Well, it’s the fact that everyone is adopting the new Technologies in WEB 3.0, so there is no doubt that there will be huge Job Opportunities in future for it.

Researchers have confirmed that Massive Machine Learning, Artificial Intelligence, CryptoCurrency and Data Science, will skyrocket in future for the business. So, new people can definitely find their interest and passion in it.

Is WEB 3.0 Reliable? What makes WEB 3.0 TrustWorthy?

Yes, it’s definitely reliable because it implements so many new trending technologies and cyber security measures. Users have the flexibility to engage both openly and privately on the network without a third party putting them at danger, leading to “trustless” data.

All of us will have access to the Internet through Web 3.0, whenever we want and from wherever we are. At some point, unlike in Web 2.0, Internet-connected gadgets won’t just be restricted to PCs and smartphones. However, a completely new computer will be made.

Before making any modifications or putting them into action, it must also get the owner’s approval.

Summary

There isn’t a single, recognised definition of Web 3.0 since it is continually changing and being defined. However, it is inevitable that Web 3.0 will heavily emphasise decentralised apps and utilise blockchain-based technology. Artificial intelligence (AI) and machine learning provide smarter, more adaptable apps.

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