The internet has gone through a huge evolutionary process in just a couple of decades, evolving from a technological solution that only provided people with ready-made web pages and content created by website owners, to an interactive medium that’s becoming more and more decentralized. The expression Web 3.0 has recently become quite popular, signifying the newest transition towards the next generation of web technology.
Let’s take a detailed look at the evolutionary path from Web 1.0 and Web 2.0, all the way to the newest iteration of internet-based platforms and services.
When the internet became commercially available to people around the world a few decades ago, websites were all generated by content creators, who owned or rented the domains of their websites. Countless thousands of websites with all sorts of educational, entertaining, and commercial content were available for users to read and consume, but there wasn’t any opportunity for users to participate in the content creation process. This is why Web 1.0 is also referred to as the read-only era of the internet.
Soon enough, the need for consumer participation in the content creation process of online platforms was recognized by various companies and startups that realized the huge potential of a user-centric web environment. In Web 2.0, content creation is not solely available to owners of websites and online platforms. Instead, users are put into the center of the process by giving them the opportunity to create, distribute and consume each other’s content in various forms from entertainment and art, to educational content and business projects.
Web 2.0 introduced user-generated content as the next best thing, through a huge variety of social media platforms where users are simultaneously content creators. Platforms like Facebook, Instagram, and YouTube are powerful examples of how users can leverage the provided technology to engage in communication and content creation.
However, Web 2.0 depends on the centralization of information, data, and authority. All of the mentioned platforms have central authorities that regulate the platforms and essentially control the data flow through their infrastructure. This is something that Web 3.0 aims to change.
Web 3.0 — The Next Stage of Online Experience
Web 3.0 utilizes all of the best aspects of Web 2.0 innovation and builds upon the foundation of user-generated content by distributing ownership over information. In Web 3.0 information isn’t owned by companies or regulated by centralized platform servers. Instead, information is shared and distributed through blockchain technology, cryptocurrency, and Internet of Things (IoT) capabilities that enable users to fully control their information, while interacting and sharing data with whom they choose to.
The evolution of connectivity, content performance and content relevance are some of the key characteristics of Web 3.0 platforms, along with empowering users to create content, build and use decentralized apps and DeFi platforms in all segments of their lives.
Shared governance through democratized management processes is another characteristic of Web 3.0 that gives users control over the platforms they use through voting and egalitarian interaction with developers that listen to their community’s feedback.
Popular Web 3.0 Crypto Projects
Cryptocurrency and blockchain technology are closely linked to the development of Web 3.0 ecosystems because they rely on decentralization through the use of automated smart contracts which ensure safe and efficient services.
Here’s a couple of innovative Web 3.0 crypto projects.
Helium utilizes blockchain technology to power decentralized networks of IoT-enabled devices which can easily communicate with each other through radio waves that are recorded on the HNT blockchain. Helium uses a Proof of Coverage algorithm to communicate between network nodes.
Filecoin is best described as an innovative, decentralized file storage platform that doesn’t rely on centralized company servers such as commercial big-tech cloud storage services. FIL is known for top of the line security measures that enable users to store sensitive data and users can also earn passive income by participating in the network as storage providers.
Ocean Protocol (OCEAN)
OCEAN is an innovative crypto project that enables users to fully control how they store, classify and share data. Publishers have full control over their data and they have various tools at their disposal to monetize their content while maintaining control over the privacy of the content. Ocean Protocol also operates the Ocean Market where every user can safely buy, trade, or sell data sets.
Although Web 3.0 is still in the making, the transition towards this new, decentralized, blockchain-powered iteration of the web is happening really fast and cryptocurrencies are at the forefront of the process. Web 3.0 cryptos have become the newest trend and by the looks of it, we are going to see a lot of interesting projects in the future.