Examples of Web3
Web 2.0 and Web 3.0 refer to continuous iterations of the web, compared to the original Web 1.0 of the 1990s and early 2000s.
Web 3.0 examples.
- Decentralization: Information would be in the functionality of its content, could be stored in various locations in parallel, and therefore decentralized.
- Artificial intelligence and machine learning: In Web 3.0, computers will be able to understand the information in the same way as humans. Web 3.0 will also use machine learning, which is a specialty in the field of AI, using data and algorithms to emulate how humans learn, gradually perfecting their accuracy.
- Connectivity and ubiquity: Information and content are more connected and ubiquitous, accessed through multiple applications and with an increasing number of devices, an example of this is the internet of things.
Web 3.0 applications
Referring to the crypto world, these are the applications that are promised to arrive and will be made available to everyone on this web.
The blockchain is a record of transactions. Every time a new “block” of transactions is added to the chain, the copies in the database must be matched and modified.
It can be used for any application to keep a record of transactions, however, most individuals associate it with cryptocurrencies, which we will address next.
Cryptocurrency (also successful as “crypto”) is a decentralized digital cash that is not controlled by any regime or central authority such as a bank.
The supply of cryptocurrency is augmented by “mining”, which gives computational power to realize the blockchain in exchange for new currency.
3. The Metaverse
In the Metaverse, your digital resources mingle with the natural planet and interact with the web in a much more “physical” way. It is a bit like the virtual planet of Ready Player One or any game of this era.
- Non-fungible tokens (NFT)
NFTs are another cornerstone of Web 3.0. NFTs are essentially a form of cryptography, however, each NFT is unique and cannot be modified by another.
NFTs are tied to digital or physical assets in the same way that a paper title to a home represents ownership.
5. Smart contracts
A smart contract is only as good as the terms and logic in it, however accepting that the contract is fair, then a smart contract is going to be made to perform fairly.