There is a supple unveil of the potentiality of these concepts. Nonetheless, only a few people understand these concepts; but these concepts are easy to grasp. Therefore, acting apathetic to them would not be a beneficial bargain as they are promising. As a result, this article is a stepping stone to help you understand these concepts.
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The Growth of Web 3.0 and its Forebears
Web 3.0 owes its originality to its forebears: Web 1.0 and Web 2.0. Without these two forebears, it would not be an anticipated development. The term Web is short for World Wide Web (WWW). WWW is the internet's fundamental information reclamation system.
Web 1.0 is the original and primary source of the other websites, including the anticipated version. Thus, to understand Web 3.0, you must know at least a little about Web 1.0 and Web 2.0. Without adequate knowledge about Web 1.0 and Web 2.0, understanding their upgrade: Web 3.0 will be complex.
As seen above, Web 1.0 (1989-2005) is the core and early version of the internet. It existed between the 1990s and early 2000s. Sometimes called the Static Web, it was more dependable in the 90s. Although many perceived that it was reliable, it had several shortcomings.
It is these shortcomings that led to the development of Web 2.0. In Web 1.0, it was not usually possible to comment on articles and have a user page. It offered restricted access to user data. It also could not filter internet pages; this made it challenging to locate user data. Although it was exciting and thrilling, users had difficulties extending their surf.
Web 2.0(2005- Present) is an upgrade of Web 1.0. Unlike Web 1.0, many call it the Social Web. It increased the interactive momentum on the internet. Contrary to what many experienced using Web 1.0, it is different.
It did not adopt the one-way pattern of Web 1.0. It allows more interaction with the internet. Web 2.0 owes its multi-dimensionality to CSS3, Javascript and HTML5. CSS3, Javascript, and HTML 5 are all programming languages.
They are essential in building interactive web platforms such as Facebook and others. Web 2.0 allows the distribution of user data across many platforms and applications. Because of this attribute, social networks and user-generated content production enjoy enormous flourishing.
Research posits that many web innovators created these programming languages---for instance, Jeffrey Zeldman. Thus, the upgrade in Web 2.0 owes its existence to these innovators. Web 2.0 is the present internet used by the world and is the one we are all familiar with; nonetheless, Web 3.0 is the anticipated phase of the internet.
Looking at the above, we see that it is not a solitary idea. It entails a more advanced algorithm than its forebears. It holds innovative technologies like blockchain and AI within its chassis and is a better version of its predecessors: Web 1.0 and Web 2.0, without mincing words.
Read: Ripple and its place in the Cryptocurrency World
What is Web 3.0
It is the next phase of web development that advances towards improving the intelligence of the internet beyond imagination and seeks to see that the internet processes data as swiftly as humans. In other words, it aims to have the internet become a prototype of human intelligence. Web 3.0 incorporates the potency of AI algorithms used to process schemes to help users.
Also referred to as Semantic Web, it is more sophisticated to link people, home devices, and systems. Via this, it seeks to establish collaboration between humans and machines. This collaboration will help to enhance content creation and decision-making processes.
Also, it will ensure that all internet users receive well-schemed data. Web 3.0's destination as an upgrade surpasses what humans would ever conceive and is a type of internet with 100 percent accuracy in data interpretation.
It further includes sheer accuracy in data comprehension and transition, which creates an environment with a clearer and well-detailed compilation of user data. Noteworthy, Web 3.0 is still in an embryonic stage. Its true potential is yet to blossom before our faces.
Nevertheless, it determines to catch the human race in an exciting and pleasurable form. It brings an internet-facet able to process information in a human-like fashion.
Web 3.0 possesses an autonomous, unrestricted, and intelligent interface. It commands a decentralized, expanded, and interconnected mode of data transmission. Unlike Web 2.0 centralized mode of storing data, it has a decentralized model. Thus, users' and machines' interaction with data is possible and unhindered.
Nonetheless, Web 3.0 full potential is dependent on the ability of programs to grasp user data. This comprehension of user data would include both context and concept. But the moment this happens, the world will take a monumental change.
It is safe to say that its life-wires are artificial intelligence and the semantic web. Currently, Web 3.0 applications processing takes place on the Ethereum network. So for it to hit the ground rolling, it needs the support of other networks. These networks would ensure its security, decentralization, and scalability. Ensuring scalability is core in fostering Web 3.0 apps and user experience.
What is Web 3.0 Cryptocurrency
Web 3.0 places a significant emphasis on data decentralization, distribution freedom, and user. Web 3.0 looks at creating a type of transparency created by its decentralized model. As against the centralized organization, it seeks to allow smart contracts to control data.
Nonetheless, the automated transactions that Web 3.0 seeks need cryptocurrencies. Therefore, web 3.0 Cryptocurrencies are also Web 3.0 Tokens. Web 3.0 cryptocurrency's decentralized mode uses smart contracts to authenticate transactions online.
Types of Web 3.0 Cryptocurrency
The following are the prominent types of Web 3.0 Cryptocurrencies;
Flux (FLUX)
Flux is a type of Web 3.0 cryptocurrency. It has one core goal. Its goal is to create a rudiment to guide developers in establishing the subsequent web trajectory. This Web 3.0 token helps to form decentralized projects and Web 3.0 applications.
It further allows them to share them over diverse networks. It is only available for Flux users, which means other users can not use it. Being used by Flus users makes it more effective and suitable. Flux also offers blockchain-as-a-service (BaaS) to put the icing on the cake.
Polkadot (DOT)
Polkadot is one of the most popular cryptocurrencies in the market, and it is fascinating how many traders do not know it is a Web 3.0 token. It lays more emphasis on scalability, unlike the other Web 3.0 tokens. Research says it outlasts Ether, which places it on a better scale than Ether.
It is by far less costly and faster than Ether. Therefore, considering Dot as the market leader would not be far-fetched. It occupies a top spot, and its value is constantly rising. Thus, it is the leader of the decentralized internet.
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Filecoin (FIL)
Filecoin has its peculiarity, different from what we find with Polkadot (DOT). It is the filing cabinet of the decentralized internet and a decentralized storage algorithm in charge of securing options. This option sought by Filecoin is to replace centralized cloud storage.
Filecoin can store all forms of data: video, text, photos, and audio. It ensures that they are safe and secured. Enthusiasts posit that Filecoin is good at keeping sensitive information. This information could be company files and all sorts. It does justice by holding them against invasion.
BitTorrent (BTT)
Many refer to it as the first and most influential peer-to-peer network globally. It is incomparable and beyond the individual peculiarity of other Web 3.0 tokens. Huge files get split into smaller bits, distributed across the internet, then gathered into a single file on the receiver's PC. As a result, everyone that chooses to download it via the network joins the distribution.
Helium (HNT)
Helium (HNT) supports an IoT network which is also a decentralized blockchain or Web 3.0 cryptocurrencies. The IoT network deploys a global network with low-energy wireless hotspots. It uses this to distribute data stored on the blockchain via radio waves. The IoT network uses a modern technique called proof-of-coverage consensus. Furthermore, it makes sure that the hotspots offer actual wireless broadcasting.
Should you get involved in this?
We are in an exciting time. And it is for sure the right time to get involved in this trend. I'd advise you to monitor the movement and ensure you stay knowledgeable. Read up more articles on Web 3.0 and Web 3.0 tokens. Because, upon its full blossoming, you are in for a groovy ride.
Closing Thoughts
In conclusion, Web 3.0 and Web 3.0 cryptocurrencies are the future we are yet to witness. However, tech explorers are working day in and day to ensure Web 3.0 transcends into its full potential. Read more articles here for an insightful narrative about recent innovations in blockchain and technology.
