The New Internet: Web 3, Crypto & Blockchain
The new type of internet is coming, and it is closer than we may think. But what is Web 3.0, and why is it linked to crypto and blockchain?
The Definition of Web 3.0
Web 3.0, also known as Web3, is the third generation of the internet based on blockchain technology that focuses on creating more intelligent, open, and user-friendly websites and applications.
The vision of Web 3.0 is generally referred to as “The Semantic Web” in it provides a common framework allowing data to be shared and reused across applications, enterprises, and community boundaries.
What we should be expecting from the new evolution of the web is decentralized content control, new AI (artificial intelligence) processes, metaverses, and even crypto as Web3’s main payment model.
- Related: Adaptive Artificial Intelligence
Web 3.0 and Blockchain
As blockchain technology has reimagined a number of fundamental processes in our lives, blockchain becoming the underlying technology of Web 3.0 was only a matter of time.
First and foremost, Web 3.0 and blockchain both strive for transparency and openness. In the context of the World Wide Web, this potentially translates to:
- Storing information in a decentralized manner and users having full control over their data and how it is used;
- NFTs solving copyright and ownership issues by recording ownership and change of ownership details;
- Increased security enabled by the essentially immune nature of blockchain – the information encrypted on-chain cannot be easily hacked;
- Advanced P2P (peer-to-peer) interaction without middlemen.
Most importantly, we are already experiencing all of the above, which means the future is now!
Web 3.0 and Crypto
In the end, all roads lead to crypto mass adoption. With blockchain at the heart of Web 3.0, crypto is the final piece in the puzzle to eliminate an authority controlling the market.
Web 3.0 aims at bringing us information, content, apps, and agreements that will be available to us instantly disrupting data and financial monopolies. Riding this wave with fiat money would be impossible.
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The Future is Here
Blockchain technology has become a synonym for trust, eliminating the need for a controlling central authority.
Slowly but surely, the New Internet is settling in. An innovative space where users are in control – creating content, storing and sharing information and benefiting from the experience.
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