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Web3 is the most recent version of the internet, and it will be a lot different than the internet that we know today. Learning more about the key features of Web3 will help you understand how this new form of the internet will impact your organization.
In this article, we’ll talk more about Web3 and some key Web3 features you need to know.
What Is Web3?
Web3 is an upgrade from the current web. To understand this generation of the internet, it’s recommended to compare Web3 to previous internet eras.
A Look at Web1 and Web2
Before we look into Web3, let’s first look at the previous versions of the internet:
- Web1: Web1 is the earliest version of the internet. Many call this version the “read-only” internet because there was minimal website management and interaction between users. The main purpose of Web1 was for information sharing.
- Web2: Web2 comes with advancements that allow for a better user experience. This generation of the internet is what we use and know today. Big corporations and social media websites like Facebook, Google, and Twitter are what comes to mind when you think of Web2.
What We Can Expect from Web3
With Web3, we can expect to see a bigger change in how people interact online. This is because Web3 is mainly focused on being decentralized using blockchain technology.
Web3 is still relatively new, so many experts don’t believe it will become mainstream until a few years later. However, the future looks promising and will definitely bring big changes to our daily lives. More developers and companies are already working on creating products based on Web3.
What Are the Key Features of Web3?
Here are some of the key features you can expect from Web3:
The core concept behind Web3 is blockchain technology. Blockchain is a decentralized network where data is stored in blocks. These blocks are linked together, each with a unique hash code. Each block also contains a timestamp, which allows you to track when the block was created.
Blockchain is secure because no person or company controls the entire system. It also means that transactions made through the blockchain cannot be altered or deleted. This offers more cybersecurity and transparency compared to traditional databases.
Decentralized Applications (DApps)
DApps are applications that run on top of the blockchain. Because these apps are built on top of the blockchain, they are completely decentralized. This means anyone can access the app without needing permission from a centralized entity.
One important feature of DApps is smart contracts. Smart contracts are computer programs that run automatically once certain conditions are met. They are self-executing, and they do not require any human intervention.
Using smart contracts helps organizations to automate their processes by making them easier to execute. For example, they could use smart contracts to create automated payments without going through third parties.
The semantic web is another key feature of Web3. It’s a feature wherein the internet understands humans better to provide a more personalized experience.
Web3 is expected to incorporate machine learning and artificial intelligence (AI) to improve our lives. These technologies make decisions based on data, which means that AI will play a bigger role in how we interact with the internet.
For instance, searching for information about a particular topic would be better if the results contained information relevant to your interests. The semantic web understands your needs and presents the right information to you.
Another major feature of Web3 is 3D graphics. With Web3, we can enjoy interactive graphics for a more immersive and interactive web experience. We’ll see more applications of technologies like augmented reality (AR) and virtual reality (VR).
AR is an application that overlays digital images in the real world. When you look at something on your phone, AR uses the camera to overlay the image onto the real world.
On the other hand, VR is a technology that helps you immerse yourself in a different world. You wear a headset, and the screen shows you a 360-degree view of your environment. Various industries including gaming, entertainment, education, healthcare, and others are widely adopting both AR and VRs.
Web3 is designed with ubiquity and connectivity in mind. Ubiquitous computing refers to the use of computers everywhere. This approach aims to make devices more accessible while improving performance.
With Web3, we can expect the internet to become even more ubiquitous. The growth of “Internet of Things” (IoT) devices will be a major driver for this trend. This trend involves the use of different devices that communicate with each other using the internet. Examples include home appliances, vehicles, wearables, and more.
Web3 is a new generation of the internet that incorporates many features that were previously unavailable. While it’s still early days, it has already started changing how we think about the internet. We can expect more innovations from Web3 as time goes on.