What Is WEB 3.0?
Web 3.0 is a term used to describe the latest generation of web technologies, primarily centred on the concept of decentralisation and distributed applications. The central idea is that the web should be able to run any application, and this can be achieved by making it possible for users to run their own nodes—providers and users can connect directly with each other via hyperlinks instead of having to go through a single central server.
The key components of Web 3.0 are:
– Decentralised applications (DApps): These are built on top of the blockchain and allow users to create decentralised applications (DApps) through the use of smart contracts. They also provide access to decentralised storage using blockchains such as ethereum or Filecoin.
– Distributed databases: These allow users to store data across many nodes rather than storing it all in one place, which makes them safer from hacks and other attacks because they’re harder to crack into if they’re spread out over a large number of servers instead of being stored on one single server owned by one company alone like Facebook does with its Instagram app today.
How Does WEB 3.0 Differ From The Current WEB
The current internet is centralised and controlled by a very few people. This means that it has one point of failure, which means it could be taken down with just one person or group of people doing something wrong.
In addition to this, there is also a lot of censorship on the internet. Websites that are deemed as controversial are often blocked or shut down because they are seen as a differ from someone or an organisations views. Whereas Web 3.0 will be a new way to browse the internet, with a focus on security and privacy. It will be more like an operating system than a website, and it will make use of decentralised applications (dApps), which are applications that don’t rely on a central server to run. DApps are encrypted and decentralised by design, so they can’t be hacked or tracked. They’re also more reliable because there’s no single point of failure—if one dApp goes down, another can take its place seamlessly.
Instead of having your data stored on huge servers owned by companies like Google or Facebook, your data will be stored on your own computer or phone—or on the computers/phones of people you choose to share it with. This makes it easier for you to keep control over what happens with your personal information online.
What Are The Benefits Of WEB 3.0?
Control Over Your Data– Web 3.0 helps you to regain control over your data by giving you more control over the way it is stored, used and shared. It also allows you to share your data with others in a more secure way.
With WEB 3.0, you can:
-Manage user access to your data
-Control who can see your data and how they can use it
-Share your data with other people and companies in a secure way
Faster Payments– With WEB 3.0 blockchain technology will be used to facilitate transactions instead of banks. Therefore with blockchain technology, the speed of payments can be increased. The speed of payments is one of the most important factors in business, and blockchain technology allows for faster transactions. When you use blockchain technology for payments, you can get the same results as traditional methods at a lower cost.
The advantages of using blockchain technology for payments include:
– Lower costs (as much as 50% less than traditional methods)
– Higher speeds (up to 10x faster than traditional methods)
Secure browsing: By using encryption technology, WEB 3.0 ensures that all data sent between your browser and website remain encrypted so that only you can view them. This means no one else will be able to access these pages unless they know your password or have permission from someone who does know it.
Privacy– WEB 3.0 allows for more anonymity than ever before because no one knows which websites you visit, so anyone who wants to track you down will need more than just your IP address before they can find out where you live or work from. Therefore no targeted adverts will be displayed all over your screens(Unless you opt to have them do so).