Web 3.0

Web has evolved through various phases. Starting from Web 1.0, we are now enjoying the features of Web 2.0. 

The world is ready to welcome the brand new version of web i.e. Web 3.0 or semantic web.

Also known as third generation of internet services for websites and web application. It focuses on using a machine-based understanding of data to provide a data-driven and semantic web. The ultimate goal of this latest version of web is to create more intelligent, connected and open websites. 

Smart home appliances using wireless networks and Internet of Things(IoT) are few examples of it. 

Short Glimpse of Web 2.0

Originally coined by O'Reilley and other in between 1999 to 2004, web 2.0 primarily refers to the movement of wed from static web pages to interactive dynamic pages. It was enriched by user-experiences and user-generated content. Contemporary web based applications like Facebook, Instagram, etc are the admirable examples of Web 2.0. The rise of Web 2.0 was largely driven by three core layers of innovation: mobile, social and cloud.

Web 3.0
Although we are still enjoying the fruits of Web 2.0, we are also seeing the rise of new innovation in web that is entitled as web 3.0. It was coined by Web's original inventor, Tim Berners Lee. Major innovation that engendered Web 3.0 are; 

• Open : Built from open source software by an open and accessible community of developers. 
• Trustless : Absence of trusted third party. People are allowed to interact publicly and privately without the involvement of intermediaries. 
• Permissionless : Both the service provider and service seeker can participate in the network with the authorization from governing body. 

It is built largely on three new layers of technological innovation: edge computing, decentralised data networks and artificial intelligence.

It is spreading the data center out to the edge, and often right into our hands. Large legacy data centres are being supplemented by a multitude of powerful computing resources spread across phones, computers, appliances, sensors and vehicles which are forecast to produce and consume 160 times more data in 2025 as compared to 2010.¹

Web 3.0 enables a future where distributed users and machines are able to interact with data, value and other counterparties via a substrate of peer-to-peer networks without the need for third parties. The result: privacy preserving computing fabric for the next wave of the web.

Major Benefits of Web 3.0 are; 

• Disintermediation that engenders the reduction of rent-seeking third parties and returning this value directly back to the users and service providers in a network. 
• Adaptable peer-to-peer communication and governance ties between participants. 
• More privacy and security assurances. 
• Eradication of the platform dependency risks we observe today. 
• Ownership of digital information are on the owner's hand. They reside on owner's device, not on trusted third party.