You must already know that each of your online activities is monitored. The websites you visit, the articles you read, your interests, everything. Leading tech corporations sell your private data to businesses worldwide. These businesses use it to advertise their products and try to lure you into buying them. It is one of the prime Web 2.0 flows. It fails to provide adequate security for consumer data.
Web 3.0, on the other hand, proposes tremendous potential for data security. It will end the monopoly of the centralized platforms that control users’ data. In other words, users will decide what data they want to share and to whom. In other words, web 3.0 will facilitate complete privacy over data. Let us look at some of the applications of web 3.0.
1.Decentralization: –
Decentralization is the core concept of web 3.0. In this, internet connectivity is based on blockchain technology. It uses multiple servers to store data making it impossible to track.
Decentralized apps (Dapps) also use blockchain to function. Their core digital assets are stored on different servers. Instead of a central server, they use a network of computers to function. Some real-life implications of a decentralized network are as follows:
- Cryptocurrency: – You must have heard of Bitcoin. It is one of the thousands of cryptocurrencies that uses the decentralized network to record transactions. It uses cryptography to ensure the anonymity and security of transactions. In other words, people need not know anything about each other to make cryptographic transactions.
- NFT: – Non-fungible tokens are digital or physical assets that can’t be traded for each other. Each NFT contains a digital signature that makes them unique and easy to recognize. The value of NFT is decided according to their market demands. Some prime examples of NFT include; paintings, music, sports, comic books, etc.
- Edge computing: – Edge computing focuses on overcoming the physical barrier of a centralized network. It uses a network of servers to store and deliver data to the location it is requested.
- Cybersecurity: – Decentralized cybersecurity is a concrete data security solution. It enables corporates as well as individuals to encrypt their sensitive data and overcome the possibility of potential theft.
2. Ubiquity: –
Web 3.0 emphasizes making the internet available from anywhere and on any device. With this, data can be collected, organized, and utilized for the betterment of society.
3. Artificial Intelligence: –
Web 3.0 emphasizes developing smart machines that understand the context of user input. It leverages data to understand consumer preferences and ensure an ideal experience for specific individuals. Contrary to web 2.0, it goes way beyond ensuring intractability for the users. Web 3.0 intends to make the user experience more immersive and real.
4. Virtual reality and Augmented reality: –
VR and AR will evolve tremendously with web 3.0. The internet will evolve to be more immersive and interactive. The Metaverse is one of the most popular implementations of advanced virtual and augmented reality.
Metaverse: –
Metaverse is a virtual world where people can live, work, shop, and interact with each other without disclosing their identities. The Metaverse uses computer screens and augmented reality devices as portals to the virtual world.
Some real-life web 3.0 initiatives: –
- Storj: – Storj is a storage solution that uses decentralization to make data more secure and accessible. It leverages a vast set of storage devices across the globe to store bits of data.
Brave Browser: – Brave is one of the most secure web browsers. It enables mobile phone users to block ads and trackers by default. With Brave, you need not worry about the unethical scrapping of data. - SOLA: – SOLA is an abbreviation for social layer. It is a decentralized social media platform that pays people in its own cryptocurrency for the content they publish. The more attention your content gets, the more revenue you earn.
- Ethlance: – It is a decentralized application for professional networking. Ethlance obliterates the conventional barrier between freelancers and businesses. In this way, organizations can minimize their expenses, and freelancers can have more control over their work.
Conclusion: –
Web 3.0 is the ultimate solution to the data exploitation monopoly of the tech giants. It enables consumers to have complete control over their data. With decentralization, individuals can decide what data they want to share and with whom. Similarly, it enables businesses to prevent their sensitive business information from cyberattacks.
Additionally, the user experience will evolve to be more immersive and interactive with web 3.0. The world is already beginning to see web 3.0-based initiatives. There are web browsers and social media networks that put users in complete control of their data. With the pace at which web 3.0 is evolving, the time is not far from when we will experience a more secure and transparent internet.
