The transition from the era of Web 1.0, where the one-way flow of information on the Internet took place, to the era of Web 2.0, where users interacted with each other, was short-lived in a blink of an eye. Now, eyes are turned to Web 3.0, opening the door to a new era. Web 3.0, which appears as the decentralized version of the Internet, has begun to take its place in our lives with its features such as reliability, transparency and user privacy offered by blockchain technology.
What is Web 3.0, what does it do?
Web 3.0 is a decentralized and individual-oriented version of the internet, offering a self-sovereign digital identity. Uncontrolled by any entity, Web 3.0 consists of platforms that use consensus mechanisms that anyone can trust. It aims to offer a solution to the problem of surveillance capitalism profited from personal data.
Web 3.0 features
- No central authority: User data will no longer be controlled by agents. The risk of censorship by companies or governments will be reduced.
- The connection between information: With the increase in the number of devices connecting to the Internet, the amount of information that algorithms can analyze is increasing exponentially, thanks to larger data sets. This helps provide more accurate information specific to each user’s needs.
- Improved advertising: Web 3.0, which is more useful with ads that are relevant to one’s interests and needs, rather than constantly encountering irrelevant ads, takes advantage of advanced artificial intelligence systems.
- Efficient viewing: It used to be quite difficult to find the best results in search results. Search results have gotten better over the years with the semantic search method, which offers meaningful results to users’ queries. This is achieved through a comfortable web experience that makes precise information easy to find.
- Customer support: Customer service can be costly for a smooth user experience. Intelligent chatbots that can talk to multiple customers simultaneously are used for a superior experience.
$500 million venture fund for Web3 and NFT projects
Effects of Web 3.0 on our lives
With the semantic search method, users reach the right information in a shorter time and encounter meaningful results. Technology giant Google now offers products that can be used for semantic searches with photos as well as text searches. The ‘Google Photos’ application, which is constantly updated and frequently mentioned, is one of these services. For example, you can search for ‘bike’ on the app and see all photos containing the bike are listed.
What are Web 3.0 projects?
Although Web 3.0 projects are still under development, they will become better with the improvements made day by day and their usage areas will increase. There are some uses today:
Virtual assistants like Siri and Alexa
Voice-controlled AI assistants like Apple’s Siri and Amazon’s Alexa have gotten smarter over time, improving their capabilities. These assistants can better understand human voice commands with artificial intelligence and natural language processing processes.
These assistants can correctly understand and take action on requests such as “Open technology site donanimhaber.com” or “Where is the nearest pharmacy”. As the number of people using Siri and Alexa increases, so do their suggestions and interactions.
smart home appliances
With Web 3.0, data and online services can be accessed from anywhere at the same time and accessed from multiple devices. These systems, which control many features from the heating of our homes to the refrigerator ordering food, can now work in a smarter and more connected way.
Your smart home can know when you’re coming home or how warm you want your home to be. It may use this and similar information to have a more personalized experience. You can then access this service from your phone or any other online device wherever you are.
Bitcoin price is rising
Best Web 3.0 coins by market cap
Web 3.0 technology, with its gradual development, not only attracts the attention of people in many sectors, but also directs crypto money investors to projects in this field.
- Chainlink (LINK): Chainlink is an Oracle project that aims to solve the problem of external data in the blockchain. Its market capitalization is approximately $3.2 billion.
- The Sandbox (SAND): Sandbox is a metaverse and gaming ecosystem where users can create, share and monetize in-world assets and gaming experiences. Its market capitalization is approximately $1.8 billion.
- Decentraland (MANA): Decentraland is a virtual reality platform that allows users to create, experience, and monetize content and apps. Its market capitalization is approximately $1.8 billion.
- Filecoin (FIL): Filecoin cannot be censored by governments or other actors as Filecoin is not tied to a central authority. It aims to provide a decentralized alternative to popular web service providers like Cloudflare or Amazon Web Services. Its market capitalization is approximately $1.4 billion.
- Theta Network (THETA): Theta is a blockchain-based network built specifically for video broadcasting. It works as a decentralized network where users share bandwidth and computing resources on a peer-to-peer (P2P) basis. Giants such as Google, Binance, Samsung and Sony take part in the Theta network as validators. Its market capitalization is approximately $1.35 billion.
- Helium (HNT): Helium is a decentralized blockchain-based network for Internet of Things (IoT) devices. It allows low-power wireless devices to communicate with each other and send data over the node network. Nodes work through devices called Hotspots. Users running nodes earn rewards with Helium’s token HNT. Helium describes its main goal as preparing IoT communication for the future. Its market value is approximately 1.2 billion dollars.
| – | Web 1.0 | Web 2.0 | Web 3.0 |
|---|---|---|---|
| Contents | Passive interaction for users | Community platforms and user-generated content | User ownership for content creators |
| Technologies | HTML | Dynamic HTML, Javascript | Blockchain, artificial intelligence and machine learning |
| Virtual Environments | no | Some basic 3D usage | 3D, Virtual Reality and Augmented Reality |
| Ads | Annoying (banner etc.) | Interactive | Goal-oriented based on user behavior |
| Data Storage | Stored on websites own servers | Owned by big tech giants | Distributed among users |
| Target group | Individual users | Certain user communities | Connected users across multiple platforms and devices |
We are witnessing the development of Web 3.0. So much so that we will see the position of Web 3.0 applications such as Oddysee, which is already an alternative to the popular Web 2.0 application YouTube, in time. For now, these new projects, although not as popular as Web 2.0 projects, have at least as much potential. It is also a matter of curiosity whether Web 3.0 applications will overtake today’s popular Web 2.0 applications.
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