What is Web3 and What Does it Mean for the Future?

The world is a continuously growing global village, with various changes and development emanating from years of research, commitment and consistency to improving every individual’s life upon the face of the earth. These changes and developments have been made possible by the advancement and availability of internet services.

There has been a steady growth in the internet space, which has seen the progression of the internet from Web 1.0 to Web 3.0, with specific alterations that have made Web 3.0 a more unique, desirable, and effective means of carrying out various activities.

Web 3 (Web 3.0) is a newly formed internet operational system that adopts the decentralized system used by cryptocurrencies. It allows for independent and optimum usage by every individual that is a member of its community.

Unlike Web 2.0, which is under the control of technological companies, orchestrating every facet of its operation, Web 3.0 internet space is not owned or controlled by companies or organizations; rather, it is created and managed by individuals that decide to be a part of the community.

Individuals who decide to be a part of the Web 3.0 community can achieve this feat by possessing digitalized coins or tokens that function through blockchain technology.

Some basic Web 3.0 characteristics that stand include; Personal control, Limitless activities, Independent governing bodies and companies, Value, etc.

Features of Web 3.0

Web 3.0 is an internet system with specific features that enhances its world wide web demand. These features include:

  • Decentralization:

The Web 3.0 internet network functions independently of any regulation body and allows individuals to have full control of their space.

  • Independence:

Due to the demeaning effect intermediaries have caused to various internet versions, web 3.0 is built to prevent interference from any entity, ensuring the full participation of any individual interested in web 3.0.

  • Expert Systems:

Web 3.0 relies on machines to enhance the abilities of humans and become proficient in areas that are important to daily living.

Pros of Web 3.0

  • Enable the exchange of goods and services (peer-to-peer) between entities without the fear of interruption by intermediate bodies.
  • Provides equal opportunity and leverage for every individual to flourish.
  • Allows individuals to manage their creativity, personal information, etc., without limitations.

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