Will Web 3.0 become “perfect internet” after iteration

The Internet is currently on the cusp of a paradigm shift – the next generation of the Internet, Web 3.0, is on the horizon.

In short, Web 3.0 is the next iteration of the Internet, which will rely heavily on blockchain technology, as well as the idea of ​​decentralization. In other words, Web 3.0 is the worst nightmare for large enterprises.

Remember the big outage that happened last year? Instagram, Facebook and WhatsApp were down for 6 hours in early October 2021.

It was the worst outage the social media giant has experienced in 13 years. Those who rely on the Meta platform for a living, entrepreneurs and content creators are disconnected from their customers and consumers.

Will Web 3.0 become "perfect internet" after iteration

According to CNBC, some people lost as much as $5,000 that day, blaming the centralized nature of the company.

The beauty of blockchain technology is that it has “no single point of failure” because it is powered by a network run by users.

Blockchain can also record ownership on a shared public ledger, and most importantly, it allows you to transfer digital assets from one platform to another.

For example, if you buy an NFT of a funky GIF on OpenSea (a popular NFT marketplace), you are not obligated to keep it there, you can transfer it to other platforms thanks to Web 3.0 like MetaMask Wallet (more on that later).

When we have our own digital identities, we don’t have to worry about engineers taking down the entire network just because of a single routine maintenance error, like Facebook did.

Will Web 3.0 become "perfect internet" after iteration

For example, when Facebook launched, you couldn’t transfer your profile and contact details to other services, but if you have your digital identity online, you can switch services with the click of a button without losing years of information.

After signing up for a Web 3.0 digital wallet like MetaMask, everyone will have something called a wallet address, and other platforms will be able to read your wallet address and the digital assets associated with it, so you can easily transfer your data Transfer seamlessly from one platform to the next.

The situation is that big companies are afraid to let you take your data from their centralized platforms because they profit too much from it.

While I use the social media example to illustrate Web 3.0, the concept of owning personal data through blockchain technology applies to all industries. You will no longer log in with an email address and password – all you need is a wallet address and a secure Web 3.0 wallet.

Will Web 3.0 become "perfect internet" after iteration

For example, whether you want to shop at Amazon, Walmart, or Best Buy, you need to use a digital wallet to connect to those sites and buy products using cryptocurrency.

Web 3.0 is still in its infancy, and if blockchain technology is to revolutionize the internet, it must first do one thing: make it easier to use.

Web 2.0 emerged because ordinary people no longer need technical skills to output content, platforms allow users to upload and share ideas, videos, photos, GIFs, emojis, etc. easily and seamlessly, eliciting laughter with light-hearted posts, Or spark outrage among aggrieved fans.

Conversely, many blockchain-based applications are not intuitive enough and can be confusing for the elderly to use. Even the world’s most popular Web 3.0 digital wallet, MetaMask, has a UI that requires a lot of work.

Will Web 3.0 become "perfect internet" after iteration

For example, adding a network like Binance Smart Chain to MetaMask should only be a click of a button, but currently requires manual input of urls and numeric codes, who has the time to do that?

The potential benefits of Web 3.0 are exciting, promising that users will have more control over their data and privacy. Of course, doing so has flaws, but to be fair, there is no such thing as a “perfect internet.”

All iterations of the internet, whether Web 1.0 or 2.0, have their pros and cons, and Web 3.0 won’t be any different. We can only hope that Web 3.0 is a major upgrade from its data-hungry, privacy-violating predecessor.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/will-web-3-0-become-perfect-internet-after-iteration/
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

Like (0)
Donate Buy me a coffee Buy me a coffee
Previous 2022-05-13 10:25
Next 2022-05-13 10:26

Related articles