Future of internet in cryptocurrency

Web 3.0 is the third generation of Internet services for websites and applications

So what is Web 3.0?
To know more about Web 3.0 let us first understand Web 1.0, & Web 2.0

Web 1.0 - "Era of Read-Only"
The Internet has developed dramatically over the past two decades.  From very simple text-based websites to massive search engines and online stores, web technology has really come a long way.
It all started with the first version of the web, known as Web 1.0, which was basically "read-only".

Web 2.0 - "Era of Read-Write"
Around 1999, a transition came in between web 1.0 & web 2.0 and this concept was called as Folksonomy.
This Folksonomy was the beginning of data organization and digital content creation wherein users can interact with each other, share information across the globe
For example, Youtube, Facebook, Instagram, etc which is totally dependent on users content.

Web 3.0 - "Era of Read-Write-Execute"
In this era, the contents are dynamic, the idea of ​​offering personalized content and product recommendations.
Web 3.0 uses advanced 3D graphics to create immersive virtual experiences, such as virtual museum guides or adventure tours.
Web 3.0 is an extension that will go beyond physical connectivity: today, the web connects to mobile devices and even cars, but in the near future, it will connect to clothes, refrigerators, etc., thus creating a unified online experience.

So, How is Web 3.0 related to cryptocurrency?

The Web 3.0 movement has been aided by the rise of NFTs, or non-fungible tokens, which are digital collectibles and other online files that can be bought and sold with cryptocurrencies.
Blockchain-based businesses, transactions, and social media can continue to grow and develop for years to come. As facebook, which is now called as meta has already stepped into metaverse (Web 3.0)

The king of cryptocurrencies, bitcoin, and other currencies works on a public database called the blockchain that records every transaction.  The process is completely decentralized, as a ledger is not maintained by a single company, but by a vast network of computers connected to the Internet.
But there is much more you can do with a blockchain than just record transactions for virtual currencies.  It can be used to create agreements and applications, and to control the way that software and applications work.
Web3 applications are primarily based on a technology called Ethereum and reward users who help maintain their network.  The network's Ether coin has a total market value of $ 511 billion.

Comments

  1. NehaJanuary 4, 2022 at 11:29 AM

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  2. UnknownJanuary 16, 2022 at 8:53 AM

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  3. NehaJanuary 16, 2022 at 11:11 AM

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