WEB 3.0 AND THE KEY WEB3 APPS

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Web 3.0 is the third phase of the internet. It leverages blockchain technology, including a collection of decentralized protocols that is run by network participants worldwide. Here’s what you should know about Web3 and its most important apps.

What is Web 3.0?

  • Web 3.0 is a decentralized version of the internet meaning that no intermediaries are involved.
  • It includes concepts such as blockchain technologies, decentralization and token-based economics.
  • Web 3.0 makes use of technologies like Machine Learning(ML), Big data, Decentralized Ledger Technology(DLT), etc.
  • Web 3.0 was originally called the Semantic Web by the World Wide Web inventor Tim Berners-Lee, and was aimed at being a more autonomous, intelligent and open internet.
  • Data is interconnected in a decentralized way.
  • Users and machines are able to interact with data.

The most important thing for Web 3.0 is semantic web (see below) and artificial intelligence. Since Web 3.0 operates on decentralized protocol, it is obvious that there will be a symbiotic relationship between Web 3.0, cryptocurrency and the blockchain ecosystem.

Features of Web 3.0

Web 3.0 is not yet standardized but here are some of the features:

1. Decentralization  - This is one of the main features of Web 3.0. In Web 2.0, computers use the HTTP to search for information which is usually stored in a single server but with Web 3.0, it can be kept in several locations at the same time because the search for information is based on its content. This will take power away from the internet giants like Meta and Google, thereby giving people more power.

2. Ubiquity - This is the act of existing everywhere especially at the same time (omnipresent). Web 2.0 is already omnipresent but Web 3.0 is an advanced version making it possible for other internet-connected devices known as internet-of-things (IoT) to access information and not just mobile phones and desktops.

3. Semantic Web - Semantics is the study of the relationship between words. The semantic web, according to Berners-Lee, enables computers to analyze loads of data from the web which includes content, transactions and links between persons. Applying web semantics would enable machines to interpret meaning and emotions by analyzing data.

4. Trustless and permissionless - Trustless being a feature of Web 3.0 means that anyone can engage directly without the use of intermediaries. It is also permissionless since it is an open-source software. With this in view, Web 3.0 will run on blockchains, peer-to-peer networks, or a combination of both referred to as dApps (decentralized apps).

5. 3D graphics and spatial web - Web 3.0 is also called the spatial web by some futurists because it blurs the line between physical and digital by providing a believable, three-dimensional cyber world. These 3D graphics are not only beneficial to the gaming world but other sectors like real estate, health, e-commerce will also experience this new level of immersion.

6. Artificial Intelligence (AI) - Wikipedia describes artificial intelligence as intelligence displayed by machines. The use of semantic web brings forth intelligent machines that are able to decode the meaning and emotions conveyed by a set of data. Web 2.0 has similar capabilities but it is more human-based which can lead to corrupt and biased opinions but with the use of AI, users are provided with the best filtered and unbiased data as possible.

Web 3.0 Applications

Web 3.0 apps can be grouped into different categories. They are as follows:

  • Storage
  • Browser
  • Social networks
  • Remote job
  • Messaging
  • Streaming
  • Insurance and banking, etc.

Social networks - There is no doubt about the impact social networks have in our lives. Social networks are limited and big corporations or the government can control the user’s point of view. This limitation is removed with the use of Web 3.0 social networks such as Sapien, Sola, Steemit, Indorse, etc. All these use blockchain technology and artificial Intelligence.

  • Sapien - This is an open source platform for social news that makes use of the Ethereum blockchain. It can also be personalized to fit each user’s taste.
  • Sola - Sola uses blockchain AI to create a mixture of social networks and media. It makes use of an algorithm to spread information to users based on their preference.
  • Steemit - It runs on the Steem blockchain. It helps users to monetize their content. It is a decentralized reward platform.

Advantages of decentralized social networks

  • No central authority
  • Privacy is protected
  • The government and big corporations lose their influence.

Messaging - Messaging is a part of our everyday lives. Sadly, most of us either use Facebook messenger or WhatsApp and sometimes Telegram. All these are centralized and your messages can be tracked easily. The solution is Web 3.0 powered apps such as e-Chat, ySign, Obsidian, Riot, etc.

  • Obsidian - It is based on STRAT and it is powered by the Stratis coin. With this app, a secure environment is guaranteed and users can even send funds to each other.
  • e-Chat - This app also offers a secure messaging environment and users can send cryptocurrency to each other. It is a great example of a Web 3.0 website.

Advantages of decentralized messaging platforms

  • Privacy
  • Secure exchange of funds
  • Fast transactions

Remote job - Remote jobs are really common in this age. In the US alone, a lot of the workforce is made up of freelancing and remote jobs. Some of these remote job platforms are still limited but with decentralized remote job platforms, these problems can be solved easily.

Some of these platforms include:EthLance, Cryptotask, Atlas.Work, Blocklancer, etc.

  • EthLance - EthLance makes use of ethereum blockchain. Reward is in ether cryptocurrency. This platform offers 0% service fees, no restrictions on membership, etc.
  • Cryptotask - This is another platform that has no fees. It uses an advanced algorithm that matches freelancers with gigs.

Browser- Some popular browsers include Google Chrome, Firefox, Phoenix, Opera. These browsers are not completely secure in protecting their users. If users visit an infected website, their mobile devices or laptops also get infected. The simple solution is to get a Web 3.0 browser that makes use of blockchain technology. Some examples include:

Benefits of decentralized browser

  • Private browsing
  • Fast and secure
  • Users can make money by selling their data to organizations

Insurance and banking- This is one of the most corrupted sectors. Here are some Web 3.0 apps that will make this sector more reliable for its users:

  • Cashaa - This platform offers crypto banking loans and cryptocurrency trading. With this in view, it can be said that this is the next generation banking platform.
  • Everledger - This is a global registry which helps users to keep unique records and access it whenever they want. This will help to curb incidences of fraud.
  • Safe Share - With this platform, you can take advantage of a shared network such as blockchain. This will help increase the growth of businesses.

Advantages of blockchain for insurance

  • Less fraud
  • Audits for banks can be done easily
  • International and cross-payment is possible
  • Top notch customer experience

Storage- With centralized storage platforms, we are subject to things like data breach and data manipulation. Some Web 3.0 storage platforms include:

  • Sia - This platform splits a file into thirty segments and also encrypts it before distribution.
  • Storj - This is one of the oldest and leading storage platforms. It makes use of the Storj token and it is very easy to use.

Streaming - The streaming industry is large but the monopoly it has will be disadvantageous in the long run. Meet some Web 3.0 streaming apps :

  • Live peer - This is a decentralized and open-source streaming platform that runs on blockchain.
  • LBRY - It is a digital library that supports books, music and videos.
  • Maestro - This is an online streaming platform for listeners and artists.

Benefits of blockchain in streaming

Copyright issues will no longer exist

  • Creators can work in a transparent environment
  • Equal opportunity for everyone to promote their work
  • No monopoly

Other Web 3.0 applications include Apple’s Siri and Wolfram Alpha.

In conclusion, the evolution of Web 3.0 applications will create a more user-friendly environment for everyone devoid of the current challenges we are facing with centralized platforms.

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