What Is Web 3.0? Why Does it Matter?

Before we dive into Web3.0, we need to know what is the World Wide Web.

Open a browser on your desktop. Type in what you want to know in the search engine. Then it will show different pages that relate to your searched topics. Most of the pages will start with this link “https://www…”

WWW is a network that every person can use to read, exchange and publish information with each other through the Internet. But why are there so many versions and what’s the difference? 

This article will show you briefly how far the evolution of the web has developed, why the Web3.0 topic is intertwined with Metaverse nowadays, and why all of these matter to you.

Visual courtesy of Freepik 

Evolution of the Web

1. Web 1.0 

It started in the 1960s with text-only browsers. The website is limited to read-only. Online users cannot interact or engage with the content. 

2. Web 2.0

This is the current state of our Internet. When the previous version is more stagnant and one-directional, this new version 2.0 brings in the element of active interaction. 

Today, the users have more say! They can freely express their voices and let every other online user hear their thoughts. The true freedom of speech in the virtual world!

3. Web 3.0

This third generation of the web, also known as the Semantic web, aims to make the Internet data to be more machine-readable.

Artificial Intelligence (AI) and Machine Learning enable computers to analyse data in the same way that people do. This version will focus on creating more intelligent, connected and transparent websites.

The push of blockchain technology, Non-Fungible Token (NFT), Decentralized Autonomous Organization (DAO), AI, and the 3D Web are all working towards the same aspiration - more transparent and decentralised.

Apple's Siri and Google's Cloud API are real-life examples of adopting Web 3.0. 

How do Web 3.0 and the Metaverse connect?

Before we talk about how intertwined these two are, let’s define Metaverse:

The metaverse is a virtual environment in which one may live. This is also a next-generation technology that connects the offline and online worlds through augmented reality (AR) and virtual reality (VR). 

Visual courtesy of Freepik 

Consumers may now participate more effortlessly in the digital world thanks to this technology. Mark Zuckerberg, the CEO of META, also agrees that the metaverse has the potential to provide a total immersive experience.

But, why does everyone connect Web 3.0 and the Metaverse together?

Here are 3 different aspects we look at:

1. What are their purposes?

Web 3.0 is the next-generation technology that seeks a democratic and decentralised internet ecosystem. It is a newer, better innovation from Web 2.0. The most important distinction of it is that any individual can be an owner in Web 3.0, instead of conglomerates.

Whereas the purpose of the Metaverse is to allow users to experience virtual reality or the 3D world - a Total Immersive Experience offline and online.

2. What do they use?

Web 3.0 is the process engine that takes advantage of blockchain advancements. On the other hand, Metaverse is a new space that includes health, infrastructure, gaming, entertainment, social media, workplace and digital services that use Web 3.0 to help to achieve its goal.

3. What problems are they solving?

Web 3.0 is primarily concerned with who will rule and regulate the internet in the future, whether it is tech behemoths or individuals. The Metaverse is more concerned with how users will interact with it. 

In summary, both Web 3.0 and the Metaverse have one similarity, which is using a blockchain system so that the data is open, well-distributed, and jointly owned through peer-to-peer networks. However, one may execute it for businesses through VR and AR (Metaverse), and another allows contributors to own their data (Web 3.0).

How to Prepare Yourself for the New Internet

As both of these technologies are still under development, we will continue to observe and look forward to the emergence of these advanced innovations. But, we cannot deny that they are definitely here to stay. 

Here are 3 ways to prepare yourself for this pioneering Internet:

• Read more local and international technology news to stay up-to-date

• Ask questions to industry experts through social media, forums and discussion groups  

• Dip yourself into this new Internet by trying them yourself

There are limitless investment opportunities in this. 

Read this article here to know how real estate tokenization benefits you in this revolutionary Internet era.