All You Need to Know about Web 3.0 and Its Importance in the Digital Industry

After the launch of Web 3.0, it has become one of the hottest topics as it has revolutionized the overall web by bringing the latest and new advancement. This amazing technology is changing the way business performs and earns profits. And, the new generation of Web 3.0 has added a lot of improvements and updates that benefit the digital world.

But, several business organizations are still afraid to use Web 3.0 as they do not have any idea about what it is and how it works. It is a similar case when people did not know how to search on Google in 1999 or operate Facebook in 2004. So, modern technologies can be your good pick for the business if you have a good grip on them.

So, in this article, we have provided a complete guide to Web 3.0 and its importance in business. You will also get to know about how Web 3.0 is different from both Web 1.0 and 2.0. Keep reading to know everything in detail.

What is Web 3.0?

Web 3.0 was devised by ‘Gavin Wood’, co-founder of Ethereum. It is the third generation of the World Wide Web (WWW) and can be recognized as the read-write-execute referring to the Web’s future. The apps of Web 3.0 are called decentralized peer-to-peer networks that are similar to Ethereum and IPFS. Through Web 3.0, the users can create, operate, and sustain the networks, not the organizations. So, they get the opportunity to manage all things by themselves, and there are few chances of failure.

Hence, Web 3.0 is the third iteration of the internet that links the data in a decentralized way. It speeds up business data delivery and provides a great user experience. It uses advanced technologies such as artificial intelligence, machine learning, semantic web, and Blockchain security to keep the user data unaltered and protected. Web 3.0 is also known as Semantic Web by Tim Berners-Lee; the founder of WWW, because it is a more autonomous, intelligent, and open internet.

Through this advanced version of the World Wide Web, users can now get more control over their data on the internet. They can use the data as they wish without any boundaries. As a leading web development company in Bangalore, we think that Web 3.0 can create websites that can understand the higher level of data.

Features of Web 3.0

Now that you are aware of what Web 3.0 is, it is time to have a look at some of its top features.

Semantic Markup

With time evolving with the new technologies, machines have improved their capability of understanding the content that is created by an individual. But, this is not enough. There is a need to have a more smooth experience that let the semantics be fully grasped.

Artificial Intelligence

Artificial Intelligence is one of the constantly evolving technologies that let the machine read user-generated content. Chatbots and customer service bots are the biggest examples of artificial intelligence that are creating wonders in the digital industry.

Artificial Intelligence is the most versatile tool of the third generation of WWW that can be implemented in different web development frameworks.

Blockchain

Blockchain is the leading modern technology that offers a defined system to the business to reach goals like data ownership, decentralization, digital economies, and others. It also offers the ability to an individual to tokenize their assets and create their online identity.

3D Visualization

3D visualization changes the look of the web to a greater extent. The introduction of 3D in the digital world brings virtual reality to deliver a compelling user experience. Also, you cannot ignore the growth of UI and UX design that provided a good presentation of details to the customers.

The Importance of Web 3.0

Many social media platforms and companies such as Google, Facebook, Instagram, and others offer a big platform to the users and encourage them to use it for several purposes. And, for this, they get the user’s personal data and sell it to the advertisers to earn profits.

With Web 3.0, the business can get good ownership of the user’s data and get mutual benefits. You can also sell the data directly to the marketers and get assurance of the user’s full data privacy. With Web 3.0, there is no need to have access to multiple social accounts as a single account can be preferred to access various social media platforms, information, and shops.

Web 3.0 also offers users a great opportunity to get their information tailored based on their personal preferences and needs from an application or a website. The users also get a customized interaction with many machines and websites in the same way they communicate with a person.

How does Web 3.0 work in real life?

Using Web 3.0, you can organize your vacation, party, household tasks, business trips, and other functions with the help of a ubiquitous IoT device at your place.

For instance- To plan a birthday party, you can search separately for a decorator, cake shop, restaurant, or invitation which turns out to be exhausting. So, with the help of Web 3.0, you have to generate a search query such as ‘I want to throw a birthday party, book a cake, and order from a popular restaurant.’ The search engine will analyze the query and provide more detailed results to the user.

Hence, the idea behind developing Web 3.0 is to let the users access the internet quickly and efficiently using its key elements such as smart contracts, Ethereum virtual machine, Blockchain, digital identity, and many more.

The Final Words

Web 3.0 services and applications are powered by multiple elements such as AI, ML, Blockchain, crypto-assets, and many more. With a focus on the decentralization process, Web 3.0 provides full control to the users on their web content and keeps their data secure. Also, the users own their data and compensate for the time they spend on the internet.

Web 3.0 is a new space with a lot of changes and speculations surrounding it. Web 3.0 may not be fully embedded in the web infrastructure for several years from now, but it changes the way people interact with each other online.