Here comes Web 3.0, the powerful future version of the internet. Based on public blockchains, it is decentralized which means individuals will have authority over the sections of the internet. Web 3.0 does not need permission, meaning the central authorities do not have the right to decide who gets access to services. Moreover, no intermediary is necessary for virtual transactions to take place between parties. This is because intermediaries and agencies do data collection.
What is Web 3.0?
Web 3.0 or Semantic Web is the internet’s future. Machine learning and artificial intelligence allow machines to analyze data similarly to man do which helps in the content creation and distribution as per the specific requirements of users.
Generally, developers of Web3.0 do not create and deploy applications that do data storage on a single database or run on a single server. They rather create applications on blockchains. These are called DApps or decentralized apps and are common in the Web3.0 community. Developers or network participants are given rewards for providing high quality services to create a secure and stable decentralized network.
Web 3.0 in crypto
Generally, cryptocurrency and Web 3.0 are mentioned together because many protocols of Web 3.0 rely on cryptocurrencies. Web 3.0 offers tokens to people who create and contribute to the improvement of the projects. These token are digital assets that are related to the aim of creating decentralized internet. The protocols provide different services like bandwidth, computation, identification, storage, and online services offered previously by cloud providers. For example, Helium gives incentives to small businesses and consumers to provide wireless coverage and send data using blockchains through the network.
By participating in non-technical and technical ways people can earn money. Service consumers pay for using a protocol similar to as they pay cloud providers like Amazon Web Services. Wasteful and needless intermediaries are removed.
Properties of Web 3.0
Slowly a move is taking place from Web 2.0 to Web 3.0. Though Web 3.0 applications look similar back-end is different. Web 3.0 can be utilized by a range of software and devices making the activities more comfortable. A transparent and secure data decentralized environment is enabled by technologies like blockchain storage, distributed ledgers. The decentralized allows individuals to control their data. Lets us discuss the properties of Web 3.0.
3D graphics
The internet future is transforming with Web 3.0 as it is more realistic. Web 3.0 services and websites like online games and e-commerce use 3D design. Now a day’s large percentage of the population is interacting in 3D graphics. For instance, people play online games and think of well being of virtual characters more than real-life friends.
Semantic web
The semantic web is an important component of Web 3.0. It is a web of data that can be analyzed by machine. Semantics means emotions or meaning based on facts. This helps the computer to know the meaning of data. The basic concept is to create a knowledge spiderweb that helps in knowing the word’s meaning and generate, share and connect content through search and analysis. More data communication will be facilitated by Web 3.0 because of Semantic metadata. Thus user experience will reach other connectivity levels taking benefits of accessible data.
Ubiquitous
Ubiquitous or omnipresence means existing in several places simultaneously. Web 2.0 has this feature already. For instance: When you post a picture on Instagram it becomes intellectual property but after that, it is available everywhere.
With the technological advancement in the internet and mobile devices, Web3.0 can be accessible anytime and everywhere. The internet will not be limited to only desktop computers like with Web 1.0. Web 3.0 will make the internet powerful.
Artificial Intelligence
With Web 3.0 websites can filter and provide the facts because of artificial intelligence. In the present era, organizations take user feedback to know the product quality. There are different websites where people rate movies. Higher rating movies are considered good. This helps us to skip over the bad content and move to the quality data.
The important contribution of Web 2.0 is peer reviews. But it might be possible that a group of people can give high ratings and reviews to not-so-good movies. Thus artificial intelligence helps to distinguish between bad and good data.
Projects with 10X Profit
Biconomy
Biconomy introduces a gas-efficient, non-custodial network that makes use of the Meta transaction concept. It allows users for transactions with low account balances on the blockchain. The difficulties of blockchain transactions are eased.
Filecoin
Filecoin is similar to the file cabinet. This is a secure alternative to cloud storage as it is a decentralized storage network. It is a passive method of making money. It is secure to store high profile sensitive information such as company records and information.
Livepeer
This is a video streaming decentralized network that is made on the Ethereum blockchain. It is an affordable and secure option in the streaming ecosystem. Livepeer addresses real-time video two goals distribution and increases network participation.
Ocean Protocol
The ocean is also a type of crypto that provides different tools required to make a Web 3.0 solution. The protocol has different tools necessary for developing Web 3.0 applications. It aims on decentralizing the data sharing concept on the web and access when data dealing.
Polkadot
One of the popular cryptocurrencies available on the crypto market is Polkadot. However, many do not know that is a Web 3.0 project. The network is scalable and ranks higher when considering low fees and faster speeds.
Kusama
Kusama is considered a profit-giving investment for the short term. There is competition among developers to get a spot on the Kusama network through para-chain auctions.
Flux
Flux focuses to offer the groundwork for the developers to make a new iteration of the web. Developers can develop decentralized projects and applications using Flux and this is efficient with the FluxOS operating system that is made particularly for Flux users.
Kadena
Kadena is capable of processing a maximum of up to 480,000 transactions per second and it is a scalable PoW layer protocol. It uses braided chains and offers special contract capabilities like in Ethereum.
Helium
This is a decentralized network for loT devices. The devices make use of a global network of wireless hotspots of low energy to broadcast data with radio waves to get recorded in the blockchain. The network makes use of a new algorithm to know that hotspots are offering proper wireless coverage.
ZCash
ZCash is among the privacy-built cryptocurrencies developed by scientists from reputed scientific and academic institutions like MIT, John Hopkins, and others. This privacy coin was built originally on Bitcoin codebase with the privacy feature option.