Understanding Web 3.0

Before we begin to discuss what Web 3.0 is, let us have a basic understanding of Web 1.0 and Web 2.0. 

Web 1.0 was the first version of the internet. It was built around static pages and hyperlinks. The second generation of the internet was called Web 2.0. It was built around user-generated content and social media. Web 3.0 is the third generation of the internet. It is built around artificial intelligence, machine learning, and big data.

Web 3.0 will be a lot like the Internet of Things (IoT). The IoT is a network of physical objects or devices connected to each other and to the cloud. These objects are able to communicate with each other and share data. In the future, we will have smart homes, smart cities, smart cars, and even smart people. We will be able to control our environment through our smartphones. Web 3.0 applications will be much smarter than apps. Apps are programs designed to run on mobile phones. Apps are usually used for entertainment purposes. They are not very useful for business owners. However, web 3.0 applications will use AI to analyze data from users and their surroundings. For example, if a person walks into a store, the app will know what products they need.

How does Web 3.0 work? 

1. Blockchain technology

Blockchain is a decentralized database that allows users to store data securely without any third party interference or censorship. The blockchain network is secure and transparent, making it a great platform for storing data.

2. Smart contracts

Smart contracts are programs written into the blockchain that enable transactions between two parties. They are self-executing once they have been activated.

3. Decentralized applications (DApps)

Decentralized applications are applications that run on top of the blockchain. These apps are distributed across many nodes instead of being stored centrally like traditional websites.

4. Virtual reality (VR)

Virtual reality is a computer simulation of real-life experiences. VR headsets allow people to immerse themselves in virtual worlds while interacting with their surroundings.

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