What is Web3.0? ｜Explain what you can do and the relationship with NFT and Metaverse!
“Web 3.0” is a concept that represents a new form of the Internet that is rapidly attracting attention from the latter half of 2021.
Because it is a new keyword, there are probably many people who have heard it but still do not understand it.
The concept of Web 3.0 is also important when talking about crypto assets called virtual currencies such as tokens and platforms, NFTs, and the Metaverse and web3.
In this article, I have summarized how Web 3.0 is different from the Internet so far, and how Web 3.0 is expected to change business in the future.
What is Web 3.0 like?
“Web3.0” (sometimes written as “Web3”) has become a trend word and is attracting a lot of attention.
Web 3.0 is a new concept born in recent years, and there is no clear definition yet. It is expected to be able to solve the problems of the existing web, and it is better to think of it as a direction that shows the next ideal form.
Checking the evolution of the web so far makes it easier to understand what Web 3.0 will look like.
First of all, I will explain the flow so far and Web 3.0 by dividing it into the following three parts.
- What is Web 1.0
- What is Web 2.0
- What is Web 3.0
Let’s take it step by step.
What is Web 1.0
“Web 1.0” refers to the early days of the web. Approximately mid-1990s to mid-2000s. In fact, there is no detailed definition other than time. When the following “Web2.0” was proposed, it was the name given to the pre-Web2.0 Web.
Although there is no detailed definition, it is generally said that the transmission of information is unidirectional and one-sided. With the advent of the Internet, anyone can widely disseminate information. However, in the early days, knowledge of site construction was required to send information, and it was common for the majority of people to view the websites created by some of the creators. In other words, the sender and receiver were still fixed, and it was one-sided. In Web 1.0, homepages and search sites were central to the Web.
What is Web 2.0
“Web 2.0” is the web that we are currently using. A term that was born in the mid-2000s to the late 2010s, SNS such as Twitter and Facebook and platforms such as YouTube have appeared, making it possible to transmit information without having the expertise to create a website.
Anyone can respond to posts on SNS by liking or commenting, and the main feature is that two-way communication is possible. SNS and blogs are representative services of Web 2.0.
While it has become easier to disseminate information, problems have also been pointed out.
In Web 2.0, information will be aggregated by platform companies that also operate platforms. At the same time, information may be manipulated and managed by those companies. It is also feared that there is a danger that information will be leaked or lost if the platform company’s server malfunctions or is subject to cyberattacks.
What is Web 3.0
And Web 3.0 is the way of the next generation Web characterized by “distribution” and “trustless”. It is expected that decentralized management of data using blockchain technology will be realized.
Blockchain allows direct exchange between computers participating in the network. When storing data, it also distributes the storage destinations to the computers in the network. Specifically, first, data for a certain period of time is recorded in blocks. Then the next block of data is recorded on another computer. Blocks are concatenated like a chain while also keeping records of the previous block. In this way, we connect the chain and store data on many computers. “Decentralized” is the first keyword of Web3.0.
What you can do with Web3.0
It is believed that Web3.0 will be able to solve the problems of Web2.0. There are two main problems with Web 2.0:
- Privacy issues where personal information is concentrated in certain large companies
- Security issues that rely on centralized servers
“Personal Information” also includes your search history and preferences. Ads displayed while viewing the site are also displayed based on individual search history. Also, due to the centralized server, if the server goes down, the whole system will stop. This problem is also called a “single point of failure”. In both cases, the provision and management of services are concentrated in a few companies.
Web 3.0 solves these problems, and it is believed that the following will become possible in the future.
- Emergence of OS- and device-independent apps
- cloud storage changes
- No access restrictions for specific areas
- server is stable
Let’s look at each one in detail.
OS and device independent apps
In the future, in Web 3.0, applications that are independent of OS and devices may appear.
Web 3.0 applications are mainly created using a platform called “Ethereum”. Ethereum is an open source platform for building blockchains. For example, it is like an OS, and you can create distributed applications “DApps”. Examples of DApps include games, which can be used regardless of OS or device. Taking smartphone apps as an example, there is no longer an iOS version and no Android version.
From the corporate side, you can develop apps that can be used on any OS and device without incurring costs for each OS. Users will also be able to use any app across multiple devices and operating systems.
cloud storage changes
Web 3.0 could change cloud storage.
In Web 3.0, which uses blockchain technology, data recording and storage are distributed across multiple computers rather than servers. This also means that we will need a place to store data within the Web 3.0 network.
In the already provided decentralized storage service “Filecoin” example, you can get rewards for renting out your own free space. It’s like renting out a vacant house to get rental income. You can also set your own reward amount. If there are people who rent cheaply and price competition occurs, there is a possibility that storage users will be able to use the service at a low price.
No access restrictions for specific areas
Web 3.0 will likely eliminate the restrictions on access to the Web that are currently in place in some areas.
This is because decentralized networks do not have a centralized governing body. Technically, access is possible regardless of nationality, region, gender, etc. It is expected that we will be able to exchange information in a truly equal and equal relationship.
server is stable
Web3.0 is considered to stabilize the server.
By utilizing a technology called “P2P” (Peer to Peer), it becomes possible to communicate information between users without going through a server. P2P is a direct connection between terminals in an equal relationship. This prevents access from being concentrated on one server. As a result, server down due to access load is less likely to occur. There is also a possibility that the stability and communication speed of communication will improve.
Web 3.0 closely related to crypto assets, NFTs, and metaverse
Crypto assets called virtual currencies such as Bitcoin are electronic data currencies used for online transactions. Like an appraisal, “NFT” proves that the product data is not duplicated or forged, but is owned without fraud. “Metaverse” is a three-dimensional virtual space on the Internet. You can communicate with others and conduct commercial transactions just like in a real space.
Crypto assets called virtual currencies such as Bitcoin are electronic data currencies used for online transactions. Like an appraisal, “NFT” proves that the product data is not duplicated or forged, but is owned without fraud. “Metaverse” is a three-dimensional virtual space on the Internet. You can communicate with others and conduct commercial transactions just like in a real space.
Buying and selling in the Metaverse requires that goods be shown to be authentic. NFT is the proof of that. Crypto assets are expected to become the mainstream payment method in the future. Therefore, it is said that NFTs and crypto assets will become more and more important for commercial transactions in the Metaverse development.
Future prospects of Web 3.0
As the current Web 2.0 transitions to Web 3.0, the platforms and applications used will change, and it is thought that responses such as transfer will be required.
For example, YouTubers will move their activities from YouTube to new platforms, and will also transfer existing content.
For business operators, the method of monetization using the Web is likely to change significantly. Until now, the business model has been to charge for the provision of services. However, there is a possibility that such existing business models will no longer work in the future.
The era of Web 2.0, which was centered on platform companies such as Google, Instagram, and Twitter, is called a centralized “platform economy.” If Web 3.0 creates a decentralized platform from such centralization, it will be closely related to the “token economy” and the “creator economy” that is currently attracting attention.
High-value trading of digital art on NFTs has become a hot topic, but if creators such as Youtubers and SNS influencers migrate their platforms to Web 3.0, a new creator economy will be formed there. That’s what it means.
Similar to the transition from the Web 1.0 era to Web 2.0, the transition from Web 2.0 to Web 3.0 will not be a sudden transition, but will be a gradual transition or compatibility with Web 2.0. it might be.
Although it is just a guess, in order to ride on the transition to Web 3.0 in the future, in the short term, we will invest in blockchain-related companies, and in the long term, measures and projects that encourage communication between individuals via blockchain. planning, etc.
The image of the world where Web 3.0 spreads is still vague and it is unknown how it will turn out specifically, but it will be necessary to pay attention to future developments.
