Semantic content that can benefit from AI. (Semantic analysis is the process of drawing meaning from text. It allows computers to understand and interpret sentences, paragraphs, or whole documents, by analyzing their grammatical structure, and identifying relationships between individual words in a particular context)
Information delivery
Social networks
Metaverse worlds
Centralized infrastructure
Cloud utility infrastructure that is still largely centralized
Decentralized, edge computing and peer-to-peer
Relational database-driven content and application delivery
Relational database-driven content and application delivery
Blockchain-based distributed services
Evolution of the Web 1.0, 2.0 and 3.0
WEB 3.0
Though there is as yet no standardized definition of Web 3.0, it does have a few defining features. Web 3.0 is built upon the core concepts of decentralization, openness, and greater user utility.
Decentralization: This is a core tenet of Web 3.0. In Web 2.0, computers use HTTP in the form of unique web addresses to find information, which is stored at a fixed location, generally on a single server. With Web 3.0, because information would be found based on its content, it could be stored in multiple locations simultaneously and hence be decentralized. This would break down the massive databases currently held by internet giants like Meta and Google and would hand greater control to users.
Trustless and permissionless: In addition to decentralization and being based upon open source software, Web 3.0 will also be trustless (i.e.,the network will allow participants to interact directly without going through a trusted intermediary) and permissionless (meaning that anyone can participate without authorization from a governing body).
As a result, Web 3.0 applications will run on blockchains or decentralized peer-to-peer networks, or a combination thereof—such decentralized apps are referred to as dApps.
Artificial intelligence (AI) and machine learning: In Web 3.0, computers will be able to understand information similarly to humans, through technologies based upon Semantic Web concepts (Semantic analysis is the process of drawing meaning from text. It allows computers to understand and interpret sentences, paragraphs, or whole documents, by analyzing their grammatical structure, and identifying relationships between individual words in a particular context)and natural language processing.
Web 3.0 will also use machine learning, which is a branch of artificial intelligence (AI) that uses data and algorithms to imitate how humans learn, gradually improving its accuracy. These capabilities will enable computers to produce faster and more relevant results in a host of areas like drug development and new materials, as opposed to merely targeted advertising that forms the bulk of current efforts.
Connectivity and ubiquity: With Web 3.0, information and content are more connected and ubiquitous, accessed by multiple applications and with an increasing number of everyday devices connected to the web—one example of which is the Internet of Things.
Web 3.0 applications
1. Non fungible tokens (NFTs): are tokens that are stored in a blockchain with a cryptographic hash, making the token unit unique.
2. DeFi. Decentralized finance (DeFi) is an emerging use case for Web 3.0 where decentralized blockchain is used as the basis for enabling financial services, outside of the confines of a traditional centralized banking infrastructure.
3. Cryptocurrency: Cryptocurrencies like Bitcoin are Web 3.0 applications that create a new world of currency that aims to be separate from the historical world of fiat currency.
4. dApp: Decentralized applications (dApps) are applications that are built on top of blockchain and make use of smart contracts to enable service delivery in a programmatic approach that is logged in an immutable ledger.
5. (Decentralized Autonomous Organizations) DAOs: DAOs are set to potentially become the organizing entities for Web 3.0 services, providing some structure and governance in a decentralized approach.
Conclusion:
Core features of Web 3.0, such as decentralization and permissionless systems, will also give users much greater control over their personal data. This may help limit the practice of data extraction—which refers to information collected from web users without their consent or compensation—and curb the network effects that have enabled the technology giants to become near-monopolies through exploitative advertising and marketing practices.
However, decentralization also brings with it significant legal and regulatory risks. Cybercrime, hate speech, and misinformation are already difficult to police and will become even more so in a decentralized structure because of the lack of central control. A decentralized web would also make regulation and enforcement very difficult
