Web 3, also known as Web 3.0, is the next and upcoming version of the internet where services will run on the blockchain. A blockchain is a database that stores information in an electronic format and ensures the fidelity and security of a data record. Until now, i.e., in Web 2.0 that we were using, the Tech giants like Amazon, Google and Microsoft controlled most of those operations. In this way, the internet services and operations were centralized by one single entity. However, Web 3.0 will be decentralized, and data will be distributed across networks.
Web 3.0 can be considered a milestone in the cyber world since it can develop various sectors, which are dependent on the internet. It would be beneficial for them since the form and structure of the internet will be more advanced, supported with artificial intelligence. For instance –
Web 3.0 and Cryptocurrency & blockchain: Since Web 3.0 is decentralized, it attempts to solve the current problems in the blockchain industry by democratizing and reshaping cryptocurrencies and technology.
Web 3.0 stands effective with the four key features –
- Ubiquity: Web 3.0 aims to have the capacity of being available everywhere, to anyone, and at any time.
- Semantic Web: There will be an application of semantics in the web, which would enable machines to decode meaning by analysing data. This will also enhance data connectivity and would be enjoyable for internet users.
- Artificial Intelligence: This will benefit users greatly as it will provide users with the best-filtered and unbiased data possible.
- Spatial Web and 3D Graphics: Web 3.0 will transform graphics technology, which will be a tremendous advantage for gaming, estate, e-commerce, and health sectors.
With these unique features, Web 3.0, we can understand that this new version of the internet will provide a more personal browsing experience as it is decentralized and more prone to the intelligent work of any industry. India has one of the largest communities of start-ups, content creators, innovators, etc. Our nation is also exacerbating the number of internet users. Thus, our country needs to adopt this new version to make Indian digital industries more productive.
– Chinmayee Kulkarni
(Content Writer, WCSF)