Are You Ready For Web 3.0?'s image

Are You Ready For Web 3.0?

Posted on September 12, 2022 by ORPTech Team
WEB2 WEB3 WEB1 Cyprus

Are You Ready For Web 3.0?

Web 2.0 and Web 3.0 are iterations of the web that came after the initial Web 1.0 in the 1990s and early 2000s. Web 2.0 is the current form of the internet that we are all familiar with, whereas Web 3.0 is its next phase.

Web 1.0

Web 1.0 is the first version of the internet as it developed from its foundation. It defines the first "iteration" of what evolved into a growing, evolving medium that eventually extended into a platform with extensive multi-functional applications.

It was also referred to as read-only web because, in Web 1.0, web pages were composed of static content, and there was no interactivity between the users and the pages.

Web 2.0

Web 2.0 refers to a fundamental shift in how people utilize the web. User-generated content and dynamic web pages are some of the most important features of Web 2.0 and created a significant difference between Web 1.0 and Web 2.0.

Web 2.0, the second generation of the internet, is also known as the read-write Web or the social Web since it allows users and sites to interact with one another. Web 2.0 users may view and publish information on websites and applications thanks to mobile, social networks, and cloud technology.

Web 3.0

Web 3.0 is the next iteration or phase of the evolution of the web/internet. It is heavily decentralized, powered by artificial intelligence and machine learning, and uses blockchain technology. Users maintain control of their data and content, allowing them to sell or trade their data without losing ownership, jeopardizing their anonymity, or depending on intermediary services. Web 3.0 enables consumers to access a website without their identity getting traced.

The digitalization of assets via tokenization is critical to Web 3.0 innovation. Tokenization is a process that transforms assets and rights into a digital representation, or token, on a blockchain network.

The main distinctions between Web 1.0 and Web 2.0 are clear as day. Users in Web 1.0 browse web pages passively and do not create their content. Web 2.0 users create their content and engage with sites via social media platforms, forums, and other means. However, the distinctions are less evident between Web 3.0 and Web 2.0.

Though there is no standardized definition of Web 3.0, it does have a few distinguishing characteristics:

  • Decentralization
  • Semantic Web
  • Artificial Intelligence And Machine Learning
  • Connectivity And Ubiquity
  • Blockchain Technologies
  • Token-Based Economics

Potentials And Dangers Of Web 3.0

  • Web 3.0 has the potential to provide customers with significantly more usefulness than the majority of Web 2.0 apps, such as social media, streaming, and online shopping. Semantic Web, AI, and machine learning capabilities, which are at the heart of Web 3.0, have the potential to significantly expand applications in new areas while also drastically improving user interaction.
  • Web 3.0 characteristics like decentralization and permissionless systems will allow users more control over their data, helping to reduce data extraction practices by big companies.
  • Decentralization, on the other hand, has significant regulatory and legal risks. Cyberthreats, hate speech, and disinformation is already hard to regulate, and the lack of central authority will make them considerably more difficult in a decentralized framework.

If we were to summarize, Web 1.0 only allowed users to browse static web pages and had no user interaction. Web 2.0 went one step further with dynamic pages that allowed users to create and share content. As a result, companies started extracting user data to capitalize on and data centralization increased while user privacy decreased. Web 3.0, as the next phase, aims to transform the web into a decentralized and privacy-focused space where everyone can easily control their data and privacy.

The change from Web 2.0 to Web 3.0 is not an operation that will happen in a single day. It will be a long and complex process until the transformation is complete, but witnessing this slowly, as the technology improves, is exciting. As ORPTech, we always advocate technology improvements benefiting everyone and try to follow the latest developments in the industry to provide better service for our customers.

Design shape three