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Why the Web 3.0 Matters and you should know about it

 

Why Web 3.0 is important and why you should be aware of it

There's a lot of talk about web 3.0 and the seismic changes it will bring to the industry, but few people understand why it exists and what it will bring. To understand this, we must go back in time and look at its predecessors, Web 1.0 and 2.0.


The Web 1.0, like the Middle Ages, was not given a name until it died. The 'World Wide Web,' as it was known, was simply a collection of static websites that contained a lot of information but no interactive content. Connecting required dialling up via shaky modems and blocking anyone in the house from using the phone. It was the web of AltaVista and Ask Jeeves, of AOL chat rooms and MSN messenger. It was excruciatingly slow. Streaming music and videos? Forget about it. A song would take at least a day to download.

Then there was 2.0.

The memory of bleepy modems and tedious interfaces has mostly vanished. Faster internet speeds paved the way for interactive content; the web was no longer just for observing; it was also for participating. The age of 'Social Media' arose from the global sharing of information. Youtube, Wikipedia, Flickr, and Facebook provided a platform for like-minded communities to thrive. Publishing this blog post will take me 30 seconds, a significant improvement from the days when a simple website edit required a collaborative effort from designers, developers, and administrators. We could call this the Read-Write-Publish era, in which information dissemination is as simple as those three words. So the question is, if web 2.0 is so great, what went wrong?



Money is made of information

Between 2000 and 2015, the UN estimated that the number of internet users increased from 738 million to 3.2 billion. That's an incomprehensible amount of data floating around, and as large digital corporations discovered, personal information is a tremendously valuable asset. So began the mass storage of data in centralised servers, with Amazon, Facebook, and Twitter serving as the primary custodians. People traded security for convenience; whether they knew it or not, their identities, browsing habits, searches, and online shopping information were sold to the highest bidder.

The Revolution 3.0

Web 2.0 proponents were already imagining a successor at this point. They imagined the next web taking a nostalgic turn to the vision of the web 1.0: more 'human' and more private. Instead of concentrating power (and data) in the hands of massive behemoths with dubious motives, it would be returned to the rightful owners.

The vision of a fairer and more transparent web dates back to around 2006, but the necessary tools and technologies were not available. Bitcoin, which introduced the concept of a distributed ledger, or blockchain, for peer-to-peer digital storage, was still three years away. The concept was decentralization, and blockchain was the means. We now have what is known as a human-centered internet.

The anti-monopoly, pro-privacy web

While Web 2.0 has helped to democratise many power structures and open up new opportunities, the economic engine has been largely privatised and monopolised. Facebook, Uber, and AirBnB have built private networks to dominate public infrastructure. Web 3.0 is the polar opposite of this, with multiple profit centres sharing value across an open network.


It's not difficult to imagine a not-too-distant future in which crypto-based phones, VPNs, decentralised storage, and cryptocurrency wallets are commonplace. A future without the need for network and cellular providers to suspend or monitor our data. These are the tools we need to avoid sleepwalking into a Black Mirror-style privacy dystopia. Web 3.0 provides several benefits, including:


Significant reduction in data breaches and hacks: Because data will be decentralised and distributed, hackers would need to shut down the entire network, rendering state-sponsored tools like Vault7, used by three-letter agencies, obsolete. At the moment, internet companies are being forced to hand over user data or risk having their entire database scrutinised. These data intrusions aren't limited to major security threats like terrorism; in 2017, Coinbase sued the IRS for access to the data of over 15,000 customers.


The cost of data breaches is projected to surpass $2.1 trillion US dollars by 2019.

The case, which Coinbase eventually lost, paved the way for government entities to raid the accounts of thousands of customers with little justification. Unfortunately, this is not an isolated case; in 2013, secure email provider Lavabit chose to shut down rather than hand over its SSL keys to the US government so that it could spy on Edward Snowden.


Interoperability: Applications will be easily customizable and device-independent, running on smartphones, TVs, automobiles, microwaves, and smart sensors. At the moment, applications are OS-specific and frequently restricted to a single operating system. Many Android cryptocurrency wallets, for example, are not available on iOS, causing consumers who use multiple devices to be frustrated. It raises costs for developers tasked with releasing multiple iterations.

with the network. The ability to gain access to permissionless chains cannot be overstated. Users will not be denied access based on their location, income, gender, orientation, or a variety of other sociological and demographic factors. Wealth and other digital assets can be transferred quickly and efficiently across borders, anywhere in the world.


Service continuity: Account suspension and distributed denial of service are reduced dramatically. Service disruption will be minimal because there is no single point of failure. To ensure redundancy, data will be stored on distributed nodes, and multiple backups will prevent server failure or seizure.

How will it function?

As with any new technology, it is still being refined. People will only need a seed to gain access to the decentralized web. This will be a single asset that allows users to interact with dApps and other services. Individuals will continue to use web browsers to access the internet, and the interface will be Web 2.0 friendly.


On the surface, the transition from 2.0 to 3.0 will be smooth. However, the framework connecting users to digital services is markedly different behind the scenes. Transactions are manually signed and verified to prevent platforms from stealing personal information without justification. Web users will opt in rather than try – and frequently fail – to opt out.


Instead of Google Drive or Dropbox, we have Storj, Siacoin, and Filecoin.

To distribute and store files, we have services like Storj, Siacoin, Filecoin, or IPFS technology instead of Google Drive or Dropbox.

Instead of Skype, there are platforms such as Experty.io.

Status has replaced WhatsApp and Wechat.

Instead of operating systems like iOS and Android, frameworks like Essentia.one and EOS serve as a portal to the new web.

Akasha or Steemit will replace Facebook, the Brave browser will replace Chrome, and Ethlance may replace Upwork.

Web 2.0 > Web 3.0


These are just a few examples. As Web 3.0 takes off, new platforms with a healthy level of competition that is not stifled by monopolistic service providers will emerge. In three years, the best dApps and decentralised services will most likely be a glint in a developer's eye.

The idea is that the decentralised apps, wallets, platforms, and other digital assets that comprise Web 3.0 are currently dispersed. Accessing these interfaces necessitates the use of separate seeds, logins, and identities, similar to how Web 2.0 works today. With a single seed, Web 3.0 will connect these disparate platforms.



Web 3.0 will provide proof of identity without disclosing any more of that individual's identity than is necessary because it will function as an encrypted key that can be associated with its owner.


Just as Web 2.0 did not extinguish Web 1.0 (which is still gathering dust in some parts of the internet), the transition to 3.0 will take time and integration with existing online systems. The train has already left the station, and the wheels have already been set in motion. Web 3.0 is a revolution in the making, and we have passed the point of no return.

Change cannot occur without your assistance: spread the word or share the article.










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