Web3 is a new internet technology that will soon be coming to replace the role of its predecessors, which in this case are Web1 and Web2.
As is known, current technological developments are increasingly advanced, one of which is marked by the presence of web3 as the next third-generation of the internet. In it, websites and applications will be able to process information like intelligent humans through technology, such as machine learning (ML), big data, Distributed Ledger Technology (DLT) or Distributed Ledger Network Technology, and so on.
So, what are the advantages provided by this web3 technology? To get the answer, see the full description below.
Web3 is: Its Advantages Compared to Previous Generations
There are four main features of Web3 or Web 3.0 that you need to know so that you really understand the next development of internet technology.
Web 3.0 Key Features
Here are the main features of Web3 that you need to know.
The definition of ubiquity is being or can also be referred to as having the capacity to be anywhere, especially at the same time alias being anywhere.
Web2 itself actually already exists everywhere. For example, Facebook users can instantly take a picture and share it, which will then be everywhere because it’s available to whoever and wherever they are—as long as they have access to the social media platform.
However, Web3 has taken it a step further, namely by making the internet accessible to everyone anywhere and anytime. At some stage, internet-connected devices will no longer be centered on computers and smartphones, as was the case with Web 2.0. The reason is that Internet of Things (IoT) technology, aka the internet for everything, will give birth to various types of the latest smart devices.
For information, semantics is the study of relationships between words so the Semantic Web is what allows computers to analyze a lot of data from the Web.
Referring to Berners-Lee’s understanding, the data includes content, transactions, and relationships between people. For illustration, consider the following two sentences:
- I love Bitcoin
- I <3 Bitcoin
Although the syntax of the two sentences may be different, the semantics are almost the same. The reason is, semantics is only related to the meaning or emotion of the content. Now, by applying semantics on the Web, it will allow machines to decode meaning and emotion by analyzing data. Thus, internet users will have a better experience, which is driven by improved data connectivity.
Artificial intelligence or Artificial Intelligence (AI), to quote Wikipedia, is intelligence that is demonstrated by machines. In a sense, the machine will simulate the intelligence possessed by humans.
Because the Web3 engine can read and decipher the meanings and emotions conveyed by a collection of data, it will produce an intelligent engine. On the other hand, even though Web2 actually has provided the same capabilities, it is still dominated by humans.
In this case, that capability has opened up opportunities for corrupt behavior, for example in biased product reviews, fraudulent ratings, and so on. For example, Trustpilot—an online review platform—provides a way for consumers to review any product or service.
However, a company could easily gather a large group of people and pay them to make positive reviews for their products that they really don’t deserve. Therefore, the internet requires artificial intelligence to learn how to distinguish real from fake so that later it can provide reliable data.
Web3 is also considered the Spatial Web by some futurists. That’s because the latest technology in the internet world aims to blur the boundaries between physical and digital by revolutionizing graphics technology, bringing the virtual world of three dimensions (3D) into clear focus.
Unlike other 2D counterparts, 3D graphics will bring a new level of immersion, which is not only for futuristic game applications, such as Decentraland, but also has an impact on other sectors, including real estate, healthcare, e-commerce, and so on.
Why is Web3 Important in the Crypto Industry?
Web3 is important for the crypto industry because its presence brings a sizeable impact, namely through decentralization. Given that decentralization will be one of the main parts of the Web3 concept, it can be said that crypto and blockchain will play an equally important role.
The upcoming wave of Web3 is also seen as going far beyond the early crypto use cases. Through the wealth of interaction opportunities and the scope of partners available globally, this network can cryptographically connect data of any scale, be it individuals, companies, or machines, with more efficient machine learning algorithms. It is also what then makes Web3 different from the previous internet generation.
Furthermore, Web3 also enables the future of machines to interact with data, values, and other partners via peer-to-peer network substrates. Thus, to interact, there will be no need for help from third parties.
How Web3 Works in the Crypto Industry
As explained earlier, Web3 is the next stage in the evolution of the web. This will make the internet smarter, aka able to process information with human-like intelligence through the power of AI systems that can run smart programs to help users.
According to Tim Berners-Lee, the Semantic Web itself is intended to “automatically” interact with systems, people, and home devices so that content creation and decision-making processes will involve the role of humans and machines. This will certainly enable the intelligent creation and distribution of highly customized content directly to each internet user.
Furthermore, given that the Web3 network will operate via a decentralized protocol, which is also the founding block of blockchain and crypto technologies, in the future it is predicted that there will be a meeting and strong symbiotic relationship between these three technologies and other fields.
These technologies will also be interoperable, seamlessly integrated, automated via smart contracts, and used to power anything from microtransactions in Africa, to the storage and sharing of sensor-resistant P2P data files with apps like Filecoin, to completely transforming every behavior of the company and operate its business.