Web 3.0 : Meaning and Definition

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"The power of a program is how much computation power it has beyond it. The power of an idea is how many brains is it running in. So if you have good ideas, you want to spread them as far and wide as possible. That's why I'll never charge for a piece of content." - @naval

Are we about to enter into a metaverse? What is its meaning? Are we really going to be the generation that experiences this third digital evolution of the internet? How can we benefit from this evolution? If you are looking for some ways to find answers to these questions, then this article might be just the one for you.

Definition

First, lets get on to the literal definition of Web 3.0,” in all the ways it is said to be the third iteration of the internet”.It makes use of the Blockchain Technology to provide the internet using decentralised networks. 

This evolution of the internet also uses Artificial Intelligence and Machine Learning to build the connection faster and provide a more holistic experience for the user. 

To understand this we need to get back to Web 1.0 and Web 2.o. Let's say that in the first evolution of the internet,we were able to receive content coming from business pages and other platforms. In the second evolution,we played key roles. We could make money and share our own content as well.

With this third evolution,the websites will be able to receive the information and provide data to its consumers.However, this is still a work in progress and we don't know how much time will it take to be fully implemented. Some people believe that it is already here, but we cannot see and experience it for sure. 

It took over ten years to move on from the first evolution to the second and maybe it will take longer for the third evolution to settle in but it is here to stay.

Key Features

When the data is stored in decentralised networks there are fewer chances of massive leaks and thus you information would be safer.The result of this evolution is that it will allow us to have a real-world human conversation. Users can retain their data and sell and trade it without losing ownership.

One of the key features it supports is the digitization of assets via tokenization. Tokenizaton convert assets into more-like digital figures like coins or blockchains.Cryptocurrency and Non-Fungible token are types of digital currency that can be easily used to make purchases online.

While the differences between web 1.0 and web 2.0 are clearly defined, the differences of evolution with web 3.0 are still unclear.

The future of web 3.0 and The role of Metaverse



“The metaverse will be the real world in the near future” 
― Anuj Jasani

While web3.0 is more about who will own and control the information on the internet, metaverse is more about how users will interact with each other. If you’ve seen it somewhere on social media that people are wearing some weird big glasses and are moving here and there based on what they are seeing through their glasses,you’re probably guessing it right.

We use the internet to talk,upload photographs but with this evolutio we will be able to enter the universe. Yes,you read it right.This may seem impossible right now but everything did some 500 years ago.We never imagined we would be a video call away from our family or that we would make money by creating content online. Not everything that seems impossible, truly is.

In the metaverse, we will be in a sort of virtual reality and we will enter these virtual words through our digital avatars. It Seems interesting and so unreal, doesn't it?

It is more like a functional successor of the 2D internet and the quote above perfectly makes up to it.



“The virtual world will open thousands of new opportunities for this new generation” 
― Anuj Jasani

Both these technologies are massive and difficult to absorb in terms of understanding the meaning and definition behind the future of connectivity.The participation of huge companies like Facebook and Microsoft has made all of this appear more practical and real.

Just imagine, you might be right now meeting on google meet or zoom, but in the near or maybe distant future you would be in your room entering a metaverse or virtual reality through your digital avatar. All of this for sure sounds fun.

“With time the world is getting smarter and if you are not keeping up with the times you will just live and die for no reason” 
― Anuj Jasani

Written By : Rachita Arora








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