What is web 3.0 ? Web 3.0 is the third generation of the evolution of web technologies. It is also known as the world wide web, is the foundational layer for how the websites are been applied and application services. Web 3.0 is still evolving and being defined there isn’t a conical and universally accepted definition. Web 3.0 emphasis on decentralized application and make extensive use of block chain based technologies web 3.0 will also make use of machine learning and Artificial Intelligence to adaptive applications. Another aspect that is part of the emerging definition of web 3.0 is the notion of a Semantic web.
● How does web 3.0 work? Along with web 1.0 and web 2.0 Technologies Hypertext markup language defines the layout and delivery of webpages. HTML will continue to be the foundational layer with web 3.0 instead of a centralized database, applications and services make use of decentralized autonomous organization (DAO) instead of having a central authority that governs the operations of a platform with a DAO web 3.0 Technologies and communities. Web 3.0 also fundamentally works with crypto currency more so than with fiat currency finance and the ability to pay for goods and services with the decentralized from a payment is enabled across web 3.0 with the use of cryptocurrencies which are all built and enabled on top of block chain technology.
● Key web 3.0 features and Applications Web 3.0 may be construed with AI semantic Web and ubiquitous properties in mind. The idea behind using AI comes from the goal of providing faster more relevant data to end users. There are several key web 3.0 features that help to define what the third generation of the web will likely be all about including the following :-
DECENTRALIZED:- As opposed to the first 2 generations of the web, where governance and applications were largely centralized, web 3.0 will be decentralized applications and services will be enabled in a distributed approach where there isn’t a central authority.
NFT: Non-fungible token (NFTS) are token that are stored in a block chain with a crypto graphic trash, making the token unit unique.
DeFi:- Decentralized finance (DeFi) is an emerging use for web 3.0 where decentralized block chain is used as the basis for enabling financial Services. Outside of the confines of a traditional centralized banking infrastructure.
CRYPTOCURRENCY:- Cryptocurrencies like bitcoin are web 3.0 applications that creates a new world of currency that aims to be separate from the historical world of fiat currency. DAPP:- Decentralized applications that are built on top of block chain and make use of smart contracts to enable service delivery in a programmatic approach that is logged in a immutable ledger.
CROSS-CHAIN BRIDGE’S:- There are multiple block chain in the web 3.0 world, and enabling a degree of interoperability across them is the domain of cross-chain bridges. Dao’s:- Dao’s are set to potentially become the organizing entities for web 3.0 services, providing some structure and governance in a decentralized approach. World’s prominent companies in the web 3.0 market:-
● Helium systems n
● Coin base global
● Polygon Technology
● Consensus
● Coin switch kuber
● Alchemy insight, INC
● Web 3 foundation
● Brave software
● Biconomy
● Huddle 01
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