What is Web3.0?
Web3.0 will be the next generation of computer software, and it’s going to be built on blockchain technology. There are a lot of features (and forks) of this new system that could be built in a variety of ways, including Ethereum. Still, they all use the same underlying technology that makes them decentralized, peer-to-peer applications with no centralized control from one individual or entity.
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Web3.0 is a term that refers to the technological platform, i.e., the software, blockchain, and related infrastructure that underpins the latest manifestation of new technology — the Web. It refers to improvements and evolutions that go beyond Web 2.0 (the platform that gave rise to services like Facebook, YouTube, Twitter, etc.) It is the third phase in the evolution of the World Wide Web.
It is a phase of the Internet characterized by every individual having control over their data and identity and transacting freely with other individuals and organizations without interference from intermediaries or mediators.
Web2.0 was about making the Web collaborative and social, but it is still controlled by big players who control our data, identity, and transactions. Blockchain is a technology that promises to overcome centralization, and Web3.0 will make it possible.
The purpose of the “Web3.0” is to form a decentralized “web of applications” that has no dependency on centralized platforms (such as Google Docs and Facebook) or internet service providers (ISPs).
Web3.0 vs Web2.0
Web3.0 is a truer, more scalable, and efficient form of the Internet that we all use every day. Web2.0 was about making the Web collaborative and social, but it is still controlled by big players who control our data, identity, and transactions. Blockchain is a technology that promises to overcome centralization, and Web3.0 will make it possible.
Web3.0 is the complete package: Web, blockchain, and IoT (Internet of Things) in one. In other words, Web3.0 is the combination of all three components that together make up the Internet: HTTP (Hypertext Transfer Protocol), blockchain, and IoT. While web2.0 was about social media, e-commerce, and connectivity, web3.0 was about trustworthiness, security, and decentralization.
Key Points:
1) Web 3.0 is a much broader concept than Web 2.0. Whereas only certain aspects of the Web were improved in 2.0, web3.0 aims to overhaul many fundamental characteristics of the Internet.
2) It includes many technologies, but it encompasses four main categories: blockchain technology, secure distributed databases, peer-to-peer networking, and smart contracts.
3) Web3.0 is a decentralized web, which means no one company or organization will control your data or sell it to third parties.
4) With blockchain technology, users and customers will have greater control over their information and identities and the ability to interact with DApps (decentralized applications) without intermediaries.
This will completely change how we interact with the Internet, giving more power and privacy to the average user than ever before.
5) Privacy is one of the biggest benefits of Web3.0. Since the Web is decentralized, there will be no data collection for advertising and marketing purposes.
6) In economic terms, Web3.0 also promises to empower consumers, as well as provide a platform for global activity that was previously impossible due to limitations of previous centralized systems.
7) When blockchain and IoT are combined, the possibilities are endless. New systems will be able to incorporate an unprecedented level of trust and efficiency.
8) On top of this, Web3.0 is much faster than previous forms of the Internet. This is because blockchain technology can process thousands of transactions per second and is fully decentralized.
9) Finally, there will even be new business models and services available to the global population, which was impossible before.
10) Web3.0 is already being used in some applications and projects today, but it is still in the early stages and there’s a long way to go. However, some of the most popular DApps include:
– Telegram
– Civic
– Ethereum
– EOS
7 Ways You Will Earn Money On Web 3.0
Below are 7 ways that decentralized internet consumers can make some extra money.
- Content creation: Internet users will continue to make money online because the internet is decentralized. Although sharing and creating information will be seamless and highly tailored in the future, content creators who can deliver quality content and optimize it for the internet will still make money.
- Decentralized Autonomous Organisation (DAO), a project being worked on: A Decentralized Autonomous Organization (DAO), is an entity that is owned and managed collectively by its members. Decisions are taken from the bottom up in a DAO. There is no central leadership. Participation in DAO is rewarded for contributions and participation to the improvement of the DAO.
DAOs will be more popular on the decentralized internet. Different communities organize their organizations around rules enforced by the blockchain. DAOs have built-in Treasurys that members can only access.
DAO decisions are made through collective proposals and group votes for a specific duration. Users can also network to pool their resources for software subscriptions, charity, or donations.
- Freelancing: This is a contract-based job that allows you to offer services to multiple clients simultaneously. Individuals can still make money online using their skills and experiences to solve problems.
Freelancers can use DAO for tasks or assignments and make more money without committing to one employer. Freelancers can often take on as many jobs and earn as much as they want.
- Blogging: Blogs have thrived on the internet, just like any other online activity. Many internet users make their living blogging. It might still be an essential source of income for those interested in the decentralized internet.
Web 3.0 allows users to create their own space, build their audience and publish original content. The ideal situation is that a blogger should be consistent in their blogging. This will allow them to make more money.
- Online surveys: Users can make money online by fact-checking, testing, and conducting surveys. Web 3.0 may offer many more opportunities than we can see. However, it requires being consistent and open-minded to see these opportunities.
While online surveys are prevalent, blockchain technology could make them even more popular. Online surveys tend to be structured questionnaires that allow people to fill out forms in exchange for rewards.
- Cloud Mining: This is another method for mining cryptocurrency like bitcoin using rented cloud computing power. This mining method is available without installing or running any software or hardware. Cloud miners can accumulate and earn digital assets with blockchain apps that enhance cloud-based computing.
- Trading Cryptocurrency: Trading has been an essential source of income for internet users and will continue to do so even on the decentralized internet. Many people will be able to make money online using blockchain applications and cryptocurrency. This is possible through the trading of blockchain assets like Bitcoin and Ethereum.
Conclusion
Web3.0 is the right direction for the World Wide Web; it’s just a matter of time until people embrace it and start using it as they already have.
The focus should be on making the Web decentralized, and this can be achieved by changing existing business models, thereby destroying any monopoly companies might have on our data in one way or another.
Blockchain can provide this solution. For now, most people are not aware of the changes that are about to happen, but as more and more developers start working on it I can see how we can achieve a much better internet experience than what we have right now.
The future is looking bright for Web3.0 development; its main goal is to be decentralized. There will be no room for intermediaries in the near future, and it will spread all over the globe in the coming years.
