Published on:

September 7, 2022
Distinctive Components of the Web 3

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Web 3.0 is the next iteration of the World Wide Web, which aims to shift power from large corporations to individual users. Its main focus is on decentralization, transparency, and security.  Web 3.0’s goal is not just about interpreting your input but also empowering individuals like you to do what they want and, as a result, expanding the world. From static to interactive web powered by AI with the evolution of Web 3.0, users are more empowered, and enterprises are generating more revenue. As a result, the key components of Web 3 have started to take shape and revolutionize the economy.   

With Web 3.0, the individual becomes king in regard to computing power. Its objective is to transform the fundamental power dynamics between users and the web by diffusing it. Web 3.0 aims to revolutionize how users interact with their site by assigning more power to individuals and improving transparency.  

As per Grayscale, the combined market capitalization of top Web 3 Metaverse crypto networks is $27.5 billion, and that is only a small part of Web 3.0. So, just imagine how vast the network is.  

Web 3.0 is independent of traditional third parties, has permissionless access, and presents user ownership of data. In this blog, we will understand about the components of the tech stack of Web 3.0. The components of Web 3.0 that will very soon become mainstream and merging of businesses with Web 3.0. Keep reading! 

Web 1.0: Static, Ready-Only

The digital community identifies this first version of the Internet as the first stage of the World Wide Web’s evolution. It’s characterized as a read-only online experience, where users may access information by reading web pages on devices powered by the browser, HTML technologies, the HTTP standard, and URLs. Networked computers are unknown, and all pages are given hyperlinks and are interconnected. Web 1.0 is also known by the Syntactic Web, and the role of the user is limited. 

Web 2: Centralization of technology giants

Known as the second-generation web, Web 2.0 is known as the read-write web or the social web because it allows interactions between users and websites. Driven by mobile, social networks, and cloud technology, users can use Web 2.0 to read and write content on website developments and applications and resell it between websites. 

Many large corporations, including the social media site Meta, previously Facebook, YouTube, and Twitter, dominate the market in the digital era. As a result, users’ distributed data processing and revenue are severely tilted with their predominance. The battle between Web 3.0 and Web 2.0 illustrates these problems, which underlie the apparent discrepancies between users’ behavior and the information the data industry collects and distributes. 

Challenges of Web 2.0

The present-day Web is static and cannot adjust to the user’s particular requirements. Web 3.0 is anticipated to be more flexible and responsive by implementing artificial intelligence and blockchain technology; it will have substantial structural transformation as a way to ensure greater democratization in all areas of the net. In Web 3