Understand Web 3.0 in just 3 minutes

The 1990s saw the emergence of the first consumer version of the Internet (Web 1.0). Very limited in interaction with web pages, exchanges are mainly made through chats, forums, blogs.

Then emerged a more elaborate internet in the 2000s that took pride in the area of ​​social interaction by exploding social networks. The speed of data transmission thanks to ADSL and optical fiber that participate in interconnection, digitalization, targeting consumers, and more.

How do you define this new internet?

The ” Web3 or “Web 3.0” is therefore the worthy successor to Internet 2.0 and aims to solve a major issue: giving the user control over the management of his or her personal data thanks to the security offered by blockchain technologies. It thus marks a transition to community internet where users will participate in the future of platforms and free themselves from the control of GAFAM like Facebook, Google …

This added to the birth of NFTs, financial transactions in cryptocurrencies (staking, mining, etc.), smart contracts and decentralized applications, not to mention the last revolution: the metaverse.

How does Web 3.0 work?

In addition to the fact that the user finds himself at the heart of the process and has full control over his personal data, this Web 3.0 is also based on tokenization of the content, their monetization and then their monitoring of a in a decentralized way.

This is the next evolution of the Internet offers users direct interaction between them without intermediation. Users interact by joining a Decentralized Autonomous Organization (DAO), i.e. a collective entity owned and self-managed by community members.

First of all, the adoption of this Web 3.0 will go through the use of “wallets”. In other words, by opening the masses of individuals to digital wallets dedicated to tokens. A necessary element in the same way as creating mailboxes twenty years ago to exchange all types of data with other users.

What can we expect from Web 3.0?

  • the the data will use smart contracts (smart contracts) accessible to all.
  • the transactions will be recorded within the blockchain.
  • the tokenization (via NFT) will allow creators to retain the authenticity and full ownership of their works.
  • Data integrity no longer depends on a central authority (bank).
  • the The metaverse will offer a new virtual experience with significant revenue potential for the entertainment and retail industry.
  • Full use of the following services: cryptocurrency payments, machine learning, legal works instant translation, augmented reality, geolocation servicesThe

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What are the advantages and disadvantages?

There are several advantages for Internet users, including:

  • the full advantage of blockchain technology to give users full control over their data, content and privacy.
  • Advent of a new decentralized digital economy by using cryptocurrencies.
  • There are unlimited possibilities for improvement thanks to the use of DeFi.

Despite the undeniable advantages, Web 3.0 still suffers a lot of criticism:

  • The lack of maturity in blockchain technologies because they remain weak. Security is not always guaranteed and depends on the projects and their architecture.
  • Piracy is a scourge leading to the theft of large amounts of money or personal data.
  • Despite increased media coverage, Cryptocurrencies and blockchain remain fuzzy concepts for most who have not yet understood their inner deeds.

Conclusion: what are the prospects for this Web 3.0?

New revolution for the next decade, the use of the blockchain offers so far no doubt and unmatched possibilities. But it will require a lot of buying from the general public and will depend on how the technology is later adapted.

Pure utopia for some, it’s hard to believe that web 3.0 could make web 2.0 disappear so quickly. Regulators (central banks and government) will not allow themselves to be fired. Similarly, intermediaries (specifically GAFAM) seek to intervene to maintain a specific restriction on the Internet user.

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