How Many Of You Have Heard Of
Web3 ?
Let’s go back in
time, to the
beginning of the
web technologies,
before knowing
about WEB 3
WEB 1.0
Web 1.0 was the first
implementation of web,
which came into existence in
1989.
At that time, sites were
static, they were not
interactive and appications
were proprietary.
Web 1.0 lasted upto 2004. Then, a new
technology break through happened. And
it was, WEB 2.0
Web 2.0
Web 2.0 is what we use
today. It is much cooler
than web 1.0, because
now, users can interact
with web pages and each
other!
It started in 2004 and
now, it is used in almost
all of the internet
applications.
But, Web 2.0 is centralized.
Despite of many interesting
features, It has many issues
concerning privacy.
Well…..
To fix those bugs
in v2.0, the next
version is coming
up! It is:
WEB 3.0
What is WEB3 ?
Web3 is an idea for a new iteration of the
World Wide Web which incorporates
concepts such as decentralization,
blockchain technologies, and token-based
economics.
The major features of web 3.0 are:
1. Decentralization
2. Trustful and permissionless
3. Artificial intelligence
4. Connectivity
• Decentralization
the transfer of control of
an activity or organization
to several local offices or
authorities rather than
one single one. Here, we
do that using blockchain
technology.
• Trustful and permissionless
We don’t need to take permission of any mediator
to access data. All the data can be accessed safely
and directly from developer.
• Artificial Intelligence
With the help of AI, the experience of users will
improve in many ways.
• Connectivity
Connectivity will improve greatly as the IOT
devices of web 3.0 do not depend on other
devices like mobiles and laptops like in web 2.0.
The accessibilty will be more without restrictions.
APPLICATIONS OF WEB 3.0
There are many
applications for web 3.0,
we can already see some
applications today, like
crypto currency and
NFTs, etc.
1. Transparency for B2B businesses
The transparency that is ensured in Web 3.0 can help
in reaping long-term profits by building new
connectivity for both clients and customers in B2B
companies. This can be achieved by customer
involvement, experience and feedback ensured by
Web 3.0 technology.
2. Power to the end users
in Social media industry
The Web 3.0 will shift the control of
data from the social media
platforms to the end user. In such a
scenario, no single authority or
centralized power will be able to
store data and misuse. Web 3.0
would even benefit users by
rewarding them with digital assets.
3. Blockchain technology for easing
technical hassles and high security
The huge task of shifting and transferring digital
assets across business borders becomes sorted
and cost-efficient with the blockchain. Web 3.0
ensures businesses to have better login
experiences with assured security from cyber
attacks
There are many other
applications of WEB 3, which
will blow your mind like token
systems like NFTs, AI chatbots
for users.
ANOTHER BENEFIT: OWNERSHIP
Web3 gives you ownership of your digital assets in an unprecedented
way. For example, say you're playing a web2 game. If you purchase
an in-game item, it is tied directly to your account. If the game
creators delete your account, you will lose these items. Or, if you stop
playing the game, you lose the value you invested into your in-game
items.
Web3 allows for direct ownership through non-fungible tokens
(NFTs). No one, not even the game's creators, has the power to take
away your ownership. And, if you stop playing, you can sell or trade
your in-game items on open markets and recoup their value.
Even though the term "Web3" was coined in 2014
by Ethereum co-founder Gavin Wood, the idea gained
interest in recent years 2021 and 2022
from cryptocurrency enthusiasts, large technology
companies, and venture capital firms.
CONCLUSION
Web 3.0 will be more connected, open,
and intelligent, with semantic Web
technologies, distributed databases,
natural language processing, machine
learning, machine reasoning, and
autonomous agents. Despite of all these
features, we still cannot decide its future
since the crypto currencies are falling
down. All we can do is wait and see the
future of WEB 3.0 ourselves, to check if it
is all just hype or reality.
Presented By
Ch. Praveen - Y20EC026
Ch. Sai Kiran - Y20EC029
THANK YOU