Since 2020, discussions and debates regarding Web 3 - the concept of the third generation of the Internet - have been intensifying in business circles. Today’s businesses are eager to learn as much as possible about innovations and new opportunities in order to build a strategy. About what Web 3.0 is and how it differs from Web 2.0? Where are the boundaries between them? How to understand whether the transition has already taken place or not? What should businesses consider when developing programs in order to successfully develop in the new era of the Internet? You will find answers to these and other important questions in the article.
What is Web 3.0 technology
Web is the World Wide Web, the main information and search system of the Internet. WWW is the first thing we typed into a browser to search the Internet back in its original version of Web 1. Back then, in the 1990s, we could only read content like in a huge library. The 2000s ushered in the era of Web 2, which brought us interactivity, mobile access, and the ability to create content. Web 2 is the modern version of the Internet, and Web 3 is the next stage of evolution.
The main difference between Web 2.0 and Web 3.0 is the ownership of digital content. Previously, we only read and created it - now we can also own it. Maxim Kalin, the owner of Golden Team, explained the main signs of the beginning of the transition to Web 3 and what is so revolutionary that we have now:
- We begin to own a resource in the network. The emergence of blockchain technology allows personalization of property on the Internet thanks to two main blockchain-based projects - cryptocurrency and NFT:
- Cryptocurrency is a means of long-term storage of funds, which saves them from inflation and economic crises. It gives us personal ownership of an electronic resource. At the same time, regulations of the state, banks or political troubles cannot change the property rights and the price of the asset. This is a revolutionary approach to using the network - financial systems on this platform will work faster, safer, more confidentially.
- NFT (non-fungible token) is a digital certificate that confirms the ownership of a digital object created by you: picture, audio, computer graphics, photo, video, etc.
- A person begins to interact with the network as with a person. Previously, we communicated only with people via the Internet. But the network has accumulated a huge amount of data and with the participation of artificial intelligence (AI) helps a person solve problems of varying complexity. In particular, the GPT chat is a vivid representative of Web 3.0: we communicate with the neural network as a person and it helps us to be more efficient.
- Not only people, but also things are starting to use the Internet. Devices connected to the network to exchange information are the Internet of Things. They collect environmental data and upload it online. The software processes them and builds the logic of further actions of another device or program. For example, roads are equipped with sensors that read the current state of the road, its surface, weather, traffic, traffic volume, etc. The sensors transmit this data online - the car's autopilot receives it and forms a movement algorithm.
Advantages and disadvantages of the Internet of the new generation
The transition to Web 3.0 has just begun, and corporations are increasingly thinking about how to invest in Web 3.0 and are investing billions of dollars so that their business "keeps pace" with the Internet of the future. The new era has great potential for benefit. But let’s consider, is everything so positive?
The advantages and disadvantages of Web 3.0 are only potential so far, as most of its components are new or still under development. Advantages and reasons why web 3.0 is important:
- easy registration of ownership of content;
- it will be impossible to remove/block your content, and for commercial gain use personal information to show you irrelevant advertising;
- privacy - identification through a cryptocurrency wallet without logins, passwords, first and last name;
- prediction and personalization based on AI and machine learning;
- decentralized finance (DeFi) – buying/selling, obtaining loans without the need for the approval of intermediaries;
- decentralization of databases speeds up information processing and protects the system from hacking;
- more ways to earn - watching videos or ads, creating and selling your own digital products, storing cryptocurrency in your wallet.
However, the Web 3.0 concept also has potential drawbacks. Its supporters turn a blind eye to them, but critics believe that some points can become an obstacle to the implementation and development of Web 3:
- decentralized networks and smart contracts are difficult to learn and manage for IT specialists and incomprehensible to ordinary users;
- the work of the blockchain and applications based on it is resource-intensive and requires an increase in monetary investments in more powerful equipment;
- doubts about absolute security and data preservation, since the developers still have little experience.
Programs based on web 3.0
Modern programs should be created on the basis of Web 3 for several reasons. The information in them is encrypted and only you have a unique key for access. They quickly process information and are protected from hacking due to decentralization - copies of records are on all devices of the distributed database. They are smarter and more sensitive to the wishes of users. Programs of the Web 3 era are those that were developed using one or more technologies:
- blockchain and smart contracts, including cryptocurrency and NFT;
- Artificial Intelligence;
- internet of things;
- virtual (VR) or augmented (AR) reality, including metauniverse
Examples of Web 3.0 applications: fast, private and secure browser with blocking of advertisements; Obsidian’s new generation messenger with a secure environment to communicate and send funds to each other. Web 3.0 technologies are used in voice assistants (Siri and Alexa) and in "smart" houses.
Golden Team implements Web 3 ideas into its services, studies and uses the most modern technologies in project development. Currently, we are inclined towards the direction of the Internet of Things - we write software for devices that publish data on the network.
Like, for example, the development of the first system in Ukraine for holding sports competitions. The start and finish equipment sees the surroundings, collects and publishes information about athletes on the network: who started, who is on the way, how many have arrived. On the Internet, there is always up-to-date data on the holding of competitions in a specific place and the results of competitions. Data may be used by other systems. This is the Internet of Things in action.
Also, for more than 1.5 years, the Golden Team has been involved in the development of a large project for a company that accounts for railway and freight transport. The system in real time monitors and provides the fleet owner with data on:
- movement of trains and trucks;
- where they are and in what condition;
- how many refuelings were completed, in which places were refueled, how much fuel was filled in the tank and used;
- speed;
- truck braking in a specific place;
- are there any thefts in the form of draining gasoline.
- Programs that analyze data from all sensors, in case of an emergency, warn a person or try to solve the problem automatically.
If you have an idea for a program, contact us - we will advise which of the most modern technologies should be used so that your program contributes to the development of business in the conditions of the Internet Web 3.0.
What's in the future: Web 4.0
It sounds like fiction, but in Web 4.0, the human brain and computer will interact freely. Maksym Kalin, the owner of Golden Team, told how he sees Web 4 and the further development of the Internet.
According to Maxim, society will virtually move to the Internet. The virtual reality of the 4th web era will be integrated into the real world. You will also meet with friends, walk on the street, but, for example, you will not have to spend time traveling to English classes. You will be able to connect to the class in such a way that you will be physically present there in the form of a digital image. In the 3D space there will be an office, a teacher and classmates (also digital images of real people). The full effect of presence and communication, as in a real class.
What will be needed for this? Currently, there are virtual glasses, put them on and you are in the classroom or wherever you need. However, later on, a person will interact with electronic devices through adapters implanted in the body. Internet Web 4.0 will open a new world, products and opportunities for us.
A business that strives to remain competitive and develop is constantly improving and implementing innovative technologies. We suggest that you think about how your business wants to be involved in the new era of the Internet. And the Golden Team will help you with this. If you have an idea for a program, our experts will analyze the idea. And they will advise which of the most modern technologies it is better to implement so that your software contributes to the achievement of business goals in the conditions of the new era of the Internet, Web 3.0. Leave a request for a free consultation from our experts.