A comprehensive explanation of: web 3.0

Change is inevitable, and often brings the disruption it causes inconvenience and opportunity.”

There is no doubt that the creation of the Internet led to the most profound technological transformation in human history. The Internet has broken geographical boundaries, increased access to knowledge, and connected people in previously unimaginable ways.

This disruption of Internet technology and subsequent innovation led to the creation of a new generation of the Internet - Web 3.0.

We are currently in the Web 2.0 era, which began in 1999 and has dominated the Internet for nearly two decades. Web 2.0 is defined by "centralization," which means that large companies own and operate the Internet. These companies that have monopolized the digital landscape include Google, Facebook (or Meta), Twitter and Amazon. Companies own all the code used to create and maintain the software needed to run it. Surprisingly, companies also own all consumer information voluntarily provided over the years.

Unlike Web 1.0 and 2.0, which are defined by the HTTP protocol, Web 3.0 features blockchain technology. This technology supports digital assets such as cryptocurrencies, decentralized finance, and non-fungible tokens (NFTs). Web 3.0 includes the semantic web, artificial intelligence, 3D graphics, and ubiquity, in addition to being decentralized. It will make it possible to conduct unreliable and secure peer-to-peer transactions all over the world. Investors from all over the world will be able to conduct transactions securely over the web without the need for a third party intermediary, which will be a boon to the growing popularity of the emerging economy. By creating a "decentralized" network, Web 3.0 paves the way for the Internet to become a tool for all people. It will help create an open, unauthorized, and safe online network of people and people.

How are Web 3.0, blockchain, and crypto connected?

Web 3.0 offers a democratic, user-centered platform without a central point of control. Web 2.0 made it possible to share information across borders, but the data was mainly monitored by centralized third parties. People around the world will now be able to interact without these intermediaries in future Web 3.0 offerings, allowing for the free exchange of information with less potential for censorship by governments and corporations.

Web 3.0 is very similar to blockchain technology in terms of transparency and openness. But the parallels don't stop here.

As we know, the goal of a blockchain is to keep data structured in blocks, with cryptographic algorithms tasked with keeping it immutable and secure.

If Web 3.0 becomes a reality, everyone will have access to resources, applications, content, and agreements as long as the encryption keys are in place. There will be a plethora of decentralized solutions available to make the universe more welcoming to each one of us.

With blockchain paving the way for a more "democratic" Internet, dApps and smart contracts will be the only way to automate specific actions. This is where the big cryptocurrency players come in. Crypto players who offer the most powerful technology to invest in the Web 3.0 ecosystem will receive the most attention in the future.

Investing in Web 3.0

Web 3.0 will not only be a massive change for humanity, but it could also be a pivotal event for the future of wealth. When the world begins to embrace all the benefits that Web 3.0 has to offer, the investors and builders who embrace these opportunities will find themselves in a better position.

For example, due to its important role in helping developers with decentralized applications, Etherum is the most popular Web 3.0 blockchain network. This has drawn the attention of long-term cryptocurrency investors to Ether. While this is an arbitrary example, many blockchains outperform others in terms of relevance to Web 3.0. Among them are the Graph, Filecoin, Livepeer, Helium, and others chains.

Another good Web 3.0 investment is Solana. In 2021, Solana's rate has increased by about 17,500% since the beginning of the year. It has been labeled an “Ethereum Killer” due to its massive success. Due to its smart contract-based platform, it is frequently compared to Ethereum. However, its newer and faster technology has helped it become the main blockchain platform for people looking for decentralized applications.

Direct cryptocurrency investments in blockchain protocols are a great place to start investing. Other Web 3.0 products, such as those offered by DeFi, dApps, and NFTs, are also important areas for individuals to consider.

Finally, trading and investing in cryptocurrencies is a byproduct of a much more important concept. Those who don't fully subscribe to Web 3.0 should change their minds over time. With the expansion of the value of blockchain and Web 3.0, there has never been a more important time to start studying, understanding, researching and investing in the evolution of the World Wide Web.