Web 3.0 Simplified

Over the last decade technology, and the way we integrate it into our daily lives, has advanced by leaps and bounds. Its almost hard to believe that most of this generation, what we call "Generation Z", is older than most of it - including Youtube. These technological advances are prime examples of when science fiction becomes fact, just a decade ago self-driving cars were thought to nothing but sci-fi stuff but now, thanks to Elon Musk, it seems to be within sight. So is the idea of virtual reality (VR) or augmented reality (AR) having a bigger role in our lives that much of a stretch? That hard of a concept to grasp? That far fetched to believe?

Over the last year or so the metaverse and what it entails has been a hot topic, with many people coming up with all kinds of conspiracy ideas which left the masses confused and in a panic.

As a Data Analyst and crypto investor, I have a vast interest in the metaverse and all that it entails so I am going to share a bit of my knowledge. Hopefully I can answer some of your questions so lets get into it.

So what is Web 3.0? To really understand the answer to this question, we first must look at what Web 2.0 is: the current iteration of the web that we are all using. Web 2.0 is all about social connectivity and user generated content, it allows user content to be viewed world wide by millions instantly. Yes, I’m talking about things like Facebook, Instagram, YouTube and social platforms in general as well as platforms that allow interactivity such as Airbnb and Uber.

Web 2.0 technologies aid and enhance our lives on a daily basis, giving companies like Meta, google and Amazon domination over the market. Web 2.0 provides not only entertainment and social interaction but has also given birth to “gig economy” which allows everyday people to earn income online. But in all of this digital interaction and user content, there is only one thing you can own online and that’s a domain.

As a content creator, you can upload whatever content onto multiple platforms like TikTok and Youtube, but you don’t actually own it in its entirety as these platforms can remove and or block your content at anytime. To put it bluntly, Web 2.0 is owned by corporations not people.

This is where Web 3.0 comes in.

Web 3.0 gives power back to individuals, its the next evolution of the web and this paradigm shift is almost definitely going to very disruptive to the current status quo.

The main thing yo need to understand is the defining concepts of Web 3.0, which are as follows:

. Decentralisation — In simple terms it means that there is no unified place of control so individuals have more control that corporations, unlike with Web 2.0

. Trustless and Permisssionless: Web 3.0 will be trustless (i.e., the organization will permit members to collaborate straightforwardly without going through a confided in delegate) and permissionless (implying that anybody can take part without approval from an overseeing body).

. Network and pervasiveness: With Web 3.0, data and content are more associated and omnipresent, got to by numerous applications and with a rising number of regular gadgets associated with the web — one illustration of which is the Internet of Things - the concept where everything is controlled by the internet.

But this is getting a bit too techy now, right? All you really need to know about the basics is - its coming and with it brings new opportunities so hop on now. After all, the pioneers (first ones on) of a successful new venture always prosper.

To summarise, Web 3.0 gives individuals more control and ownership of the internet. It has a lot of potential, both positive and negative and I will cover those details in another article. I hope this was helpful and for similar content please subscribe or follow my page.

Have a great day :)