From all this, it may seem like the golden age of innovation on the internet has already passed us by. But it isn’t so. The next version of the internet – Web 3.0, is in the works to take us to the next level. The arrival of Bitcoin set the stage for web 3.0, with blockchain placing the foundation for it, especially in how it transforms data structures in the backend of the web. From a technical perspective, Web 3.0 is a collection of blockchain-based protocols focused on changing the backend wiring of the internet.
If you have a web 3.0, blockchain-powered internet, that enables people to share copies of the code and the data across multiple computers where it can’t be manipulated. This brings the element of decentralization, which experts call trust minimization – where you trust the decentralization protocol, not the owners of the websites like we do today.
Of course, web 3.0 is more than the initial use case of cryptocurrencies. With efficient machine learning algorithms, it will cryptographically connect data from individuals, corporations, and machines, ushering the rise of new markets and associated human-centric business models with highly personalized interaction.
Web 3.0 could be perfectly integrated with the virtual universe – Metaverse, allowing 3D designs of websites, adding IoT devices in its periphery, and enabling faster validation and delivery of information. And with the infusion of Artificial Intelligence, the internet will evolve more intelligently to satisfy the needs of users. The web will know each user and will adapt to every person by analyzing the data and personalizing the results, so instead of getting thousands of suggestions when you start to type in a search query, you will get personalized suggestions tailored to you and your online life.
The semantic web will aid in the online data network by linking additional data and allowing users to keep their data and share as little as possible. Most importantly, blockchain supported the development of a governance layer running over the existing internet layer that can now allow two unknown people to reach agreements and settle transactions over the internet.
Web 3.0’s development aims to create a system closer to people with semantics, intelligent programs, and AI assistance. Though it is rapidly advancing, its sustainability is still under progress. According to Tracxn, there are 7472 Web 3.0 companies globally.
Companies have not begun to move towards web 3.0 in large numbers, but the shift has begun. DECENTERNET is a Hong Kong-based company that offers a Web 3.0 browser. Osiris, the company’s net-neutral browser, makes use of blockchain technology to provide a seamless and efficient Web 3.0 infrastructure. It improves browsing speed, removes intrusive ads, includes an in-built VPN, and does not track user activity across the web.
Through a decentralized video calling framework, the organization Huddle01’s offerings focus on reducing the latency of connectivity in video conferences. The company aspires to be a forerunner in bringing Web 3.0 into real-time communications. It believes that everyone should have their own digital space where they can express themselves freely.