What has been a remarkably beneficial technology for around 3 billion people during 80% of their waking hours every day?
Well, it’s nothing but Web 2.0
Web 2.0 technology was coined by O’Reilly and others quite some years ago, between 1999 and 2004. It was responsible for moving the world from just static web pages on our desktops designed to provide information and sourced from some of the most expensive servers.
With Web 2.0, the scenario evolved, and we started having interactive experiences over the internet. The user-generated content started coming into the picture, resulting in the most prominent names like Facebook, Instagram, Uber, Airbnb, etc. The rise of Web 2.0 revolves around the three most striking synonyms of innovation: social, mobile, and cloud.
How does Web 3.0 come into the picture?
While we are still reaping the fruits of Web 2.0, the next paradigm shift in the internet world has already started emerging the first shoots of its growth. We are talking about nothing else but Web 3.0 technology. It is rising to be an even more fundamental breakthrough in today’s modern world. This technology will be remarkable that the experts believe it will overpower everything hitherto. Web 3.0 technology is proving to be a welcome gate for open, trustless, permissionless, and ubiquitous networks.
Now, let’s understand what do these critical terms mean?
Open means that the open-source software is responsible for building this Web 3.0 technology. It is an accessible and open community of developers where they are the masterminds behind this innovation and executes it in a 360-degree view of the world.
Trustless because the network doesn’t need a trusted third party to allow the participants to interact privately or publicly. Web 3.0 technology does that by itself.
Permissionless because everyone involved, including the suppliers and users, can interact among themselves without the permission of any governing body.
Ubiquitous because Web 3.0 will make the internet available anywhere for us, at any time, at any location. With the rise of Web 3.0, devices connected to the internet will no longer be limited to computers and smartphones only. Because of the influence of IoT (Internet of Things), a multitude of innovative and new types of smart and intelligent gadgets will exist in the market soon.
These unique, innovative, new, open, trustless, permissionless, and ubiquitous networks result in the opportunity of coordination and incentivization of different providers of work, service, data, and content. They are nothing but the disenfranchised backdrop of the most extensive food, health, finance, and sustainability challenges that the world faces today.
As mentioned above, Web 2.0 technology was revolving around the advent of mobile, social, and cloud; what we can see in the case of Web 3.0 is that it is revolving around the three main layers of technological innovation. They are decentralized data networks, edge computing, and artificial intelligence.
Why does Web 3.0 matter?
As we are witnessing a massive shift towards Web 3.0 now, it is visible that the data centre is spreading out to the edge and reaching into our hands. Many excellent and effective computing resources spread across computers, different appliances, phones, sensors, and vehicles are supplementing large-scale data centres. This shift leads to a forecast of production and consumption of 160 times more data in 2025 compared to 2010.
In Web 3.0, decentralized data networks help these data generators sell or barter their data without losing control. Moreover, it also allows the data generators (someone’s health data, a grower’s crop data, a car’s location, performance data, etc.) to keep up with their privacy and collaborate with third-party intermediaries.
What’s more, decentralized data networks have the power to bring together the entire tail of data generators in the same line, giving rise to the data economy.
Moreover, artificial intelligence and machine learning algorithms will also make a potential transformation. These technologies are powerful enough to make very useful and lifesaving, in many cases, predictions and actions. When these two revolutionary technologies are layering on top of the decentralized data structures, they give access to a vast range of data beyond the imaginations of the modern tech giants. The potential applications are no more limited to only targeted advertising. They involve the most critical areas like drug designing, precision materials, climate modeling, and whatnot!
A Sneak-Peek into a few potential benefits of Web 3.0
With the above-discussed technological advancements of Web 3.0, this unique technology will surely change our lives. Read on to know how?
More customized browsing
Web 3.0 will provide a more personalized browsing experience than we have ever experienced before. With Web 3.0, the websites will automatically align and customize themselves to fit our devices, location, and accessibility requirements. Web apps will become more harmonized with the habits of users.
Smarter searches
What can be better than speaking in a natural language with a search engine? This is what Web 3.0 will do, and it will be a compelling approach to searching in Google and other search engines. The learning curve will almost not exist anymore, and the benefits of that will extend beyond the customers. Businesses will no longer have to stick to tricky keyword strategies and instead take a more natural and sensible approach to search engine optimization.
Better app experiences
The websites will not just enjoy the benefits of multidimensional Web 3.0 technology. Web apps will also start providing richer experiences to their users. For example, suppose you consider a mapping service like Google. In that case, it can work at its best by combining the basic details of location search, guidance to the routes, recommended hotels, and real-time traffic updates. It can work so comprehensively and precisely because of the efficiency of Web 3.0 technology. Was it possible in the Web 2.0 era? No! Right?
The bottom line
Web 3.0 is genuinely going to be a game-changer in the future! Won’t it be? What do you think after reading this blog? Well, I think it will indeed have a significant impact on different genres of business and science, a variety of human life touchpoints, and so on.
With the innovation of Web 3.0 technology, we will live in a future where machines and distributed users will be directly interacting with data, value, and other counterparties with the help of a basic structure of peer-to-peer networks. They will not require the assistance of third parties anymore.
And what will be the result?
A human-oriented and privacy-conserving computing fabric that can be composed effortlessly for the upcoming wave of the web.
Let Cygnet Digital be your technology partner in growth and innovation. Reach out to us today!
Cygnet.One
Living the trust
Cygnet.One is a technology consulting and development company, that co-creates business growth strategies and delivers partnership value through the Power of Digital. We specialize in leading technologies such as Cloud Computing, AI/ML, and Blockchain with a focus on innovation and agility.
