In case you missed it, Web 3.0 is coming. It’s the next generation of the internet, building on the current open network model we’ve all been using for 16 years. But what exactly is it, and how big an impact could it really have on the way we share information and safeguard our privacy online?
To understand the upcoming internet revolution a little better, let’s run through a few key facts about Web 3.0 or Web 3 that you need to know.
It’s built on blockchain
One of the first things you’ll hear about Web 3.0 is its association with blockchain technology, of the kind that is currently powering cryptocurrency and disrupting financial markets worldwide.
Being built on blockchain, Web 3.0 has the potential to provide ultra-secure peer-to-peer internet services. This should mean in theory that users – rather than social media companies or other service providers – have more control over their data.
The reason everyone’s getting so excited about Web 3.0 is its power to challenge the dominance of the tech giants.
Unlike Web 2.0, this new generation of the world wide web will be decentralised. This means no more copies of our data stored on Google or Facebook’s servers, where it can be used for pretty much anything – and most of the time, we don’t even know how much of our personal information we’ve handed over.
The use of blockchain technology to build Web 3.0 means that data can be individually encrypted and stored. It’s hard to hack or alter data without alerting the whole system – which is what makes it so secure. Along with the use of the latest cryptographic technologies to protect data, this could mean significant improvements in data privacy and transparency online.
It promises an enhanced, interactive user experience
Beyond bolstering data security, Web 3.0 has other, more exciting applications. It’s all thanks to the rapid advancement of AI and machine learning, which is predicted to make Web 3.0 into a ‘web of data’ capable of understanding and interpreting information – all to deliver an enhanced user experience. Here’s how it’s described in a recent Medium.com article:
“Artificial intelligence and machine learning algorithms have become powerful enough to create useful, indeed sometimes life-saving, predictions and actions. When layered on top of new decentralised data structures giving access to a wealth of data that would be the envy of today’s tech giants, the potential applications go far beyond targeted advertising into areas like precision materials, drug design and climate modelling.”
It’s pretty much here
At the moment, Web 3.0 models are mainly being used by private startups. These companies are working on social media, financial and gaming platforms – and there’s already a decentralised version of YouTube, known as DTube.
However, the technologies which could build a decentralised web are already advanced in their development. This could mean that more services, websites and businesses could soon start to embrace Web 3.0. So, watch this space…