Xenonstack Recommends

Subscription

XenonStack White Arrow

Introduction to Web3

Web 2.0 benefits more than 3 billion people for 80% of their waking hours every day. It moves the world from static desktop web pages for information consumption that served from expensive servers to interactive experiences and user-generated content.

Web 2.0 is all about interactivity and users. The users create most of the content on platforms such as YouTube, Facebook, or Twitter. Web 2.0 is more social and collaborative but usually comes at a price. The downside of this is that users provide personal and confidential data to the companies that control these platforms by creating content.

As a natural evolution of the internet and to combat issues surrounding user privacy/data breaches, Web 3.0 is on the way and blockchain will likely be the foundational technology that leads this progress at scale. Click to explore about, How To Prepare For A Privacy-Driven Future

Therefore, a new internet iteration is required to change how the internet is used individually without giving up users’ privacy and valuable data. Web 3.0 is a future idea of the internet that will have a decentralized property.

What is Web3?

Web 3.0 was named Semantic Web by Tim Berners-Lee, who is the web’s original inventor. It is a type of internet that will use decentralized networks such as Ethereum and bitcoin.

It will be a platform with no single entity control, yet everyone can still trust as every user will follow the same set of hard-coded rules, those rules known as consensus protocols. It will make the internet more intelligent or process data with near-human-like intelligence to assist the user. It will create an open, trustless, and permissionless network.

  • Open: It will be an open-source software built by an open and accessible community of developers and executed in the full view of the world.
  • Trustless: It will allow participants to interact publicly or privately without any trusted third party.
  • Permissionless: Neither users nor suppliers need any authorization from a governing body for participating.

Evolution of Web

Web 3.0 will fundamentally expand the scale and scope for both human and machine interactions. These interactions could range from a seamless payment to richer information flows to trusted data transfers that will be possible with a vast range of potential counter parties.

What are the components of the Tech Stack?

The components of the Tech Stack are mentioned below:

Layer 0

  • P2P internet overlay protocols [e.g. Devp2p, Libp2p]
  • Platform-neutral computation description language [e.g. EVM, WASM, UTXO]

Layer 1

  • Data distribution protocols[e.g. IPFS, Bluzelle, Fluence, Swarm]
  • Low-trust interaction platforms[e.g. Polkadot]
  • Low-trust interaction protocols [ e.g., Ethereum, Bitcoin, Zcash, Polkadot parachains]
  • Transient data messaging [e.g., Whisper, Matrix]

Layer 2

  • Second layer protocols [e.g. (various)]

Layer 3

  • Protocol-extensible developer APIs & languages [e.g. Web3.js, ether.js, oo7.js, Solidity, Rust]

Layer 4

  • Protocol-extensible user-interface crade [e.g. Status, Metamask, MyCrypto, Parity]
A distributed computing paradigm in which processing and computation are performed mainly on classified device nodes. Click to explore about, Overview of Edge Computing

Why do we need Web3?

Let’s compare Web 2.0 and Web 3.0 to know why do we need Web 3.0:

Web3 vs. Web2

Web 2.0

Web 3.0

The rise of Web 2.0 is mostly driven by three core layers of innovation: mobile, social, and cloud.

Web 3.0 will be built on edge computing, decentralized data networks, and artificial intelligence.

Web 2.0 recently commoditized personal computer hardware was repurposed in data centers

Web 3.0 will spread the data center out to the edge right into our hands.

Web 2.0

Web 3.0

Twitter(company) can censor any account or user tweet.

As control is decentralized so tweets are uncensorable.

Payment services do not allow payments for certain types of work.

Web 3.0 requires no personal data for payments and also cannot prevent payments.

What are the Challenges in Web 2.0?

  • More than half of the world’s population, approximately 60%, uses the current internet. But the internet of today is broken. It is dominated by companies that provide services in exchange for personal data.
  • It provides P2P interactions globally but with a middleman. It acts as a trusted intermediary between two people who do not know or trust each other. It also dictates all rules of the transactions and controls all data of their users.
  • People do not have control over their data, nor do they have any native value settlement layer. Internet data is stored centrally and managed on a server that is sent or retrieved by the client. With every interaction over the internet, our information is sent to a service provider; thus user loses control over data.
  • Moreover, our data is stored on a cloud that is easily accessible, thus raising the issue of trust If it is not authenticated well. Can people trust those centralized institutions that manage their data?
  • The current internet(Web 2.0) has client-server-based data infrastructure and centralized data management, which has several unique points of failure.
  • The primary reason for redesigning the current internet is that most of today’s highly-used Internet platforms are controlled by only a handful of powerful companies, which profit from the data users generate.
Internet of Things (IoT) is connected using the Internet capable of sending the data to the Cloud. Click to explore about, IoT Platform Benefits and Use Cases

What are the benefits of Web3?

  • No personal data loss.
  • Anyone on the network can use any service; no permission is required.
  • No one can block and remove access of any user.

What are the features of Web3?

    • Ubiquity: Web 3.0 will have the capacity of being everywhere at any time. In Web 2.0, Facebook provides this feature as users can capture and share their pictures on it, and other users can see that until they have access to it. Web 3.0 will take this further and provide internet available to everywhere at any time.
    • Semantic Web: Semantic is the study of content; thus, semantics web allows to analyze loads of data from the web. Semantics in the Web will enable machines to decode meaning and emotions from data. Consequently, users will have a better experience driven by enhanced data connectivity.
    • Artificial Intelligence: Web 3.0 machines will easily read and decipher the meaning and emotion of data using AI. Web 2.0 provides this capability but is still predominantly human-based, increasing the chances of corrupt behaviors such as bias rating and review. In Web 3.0, AI will be in action that will enable platforms to sift data and tailor them to users’ liking. The advancement in AI (Responsible AI) will ultimately provide users with the best filtered and unbiased data as much as possible.
    • 3D Graphics: It will blur the lines between physical and digital by revolutionizing the graphic field, bringing it into clear focus 3D virtual world.
Java vs Kotlin
Our solutions cater to diverse industries with a focus on serving ever-changing marketing needs. Click here for our IoT Strategy and Consulting Solutions