“Change is inevitable, and the disruption it causes often brings both inconvenience and opportunity.”
There’s no doubt that the internet’s creation has ushered in the greatest profound technological transformation in human history. The internet has broken down geographical borders, increased access to knowledge, and connected people in previously inconceivable ways.
This disruption in internet technology and the consequent innovation has led to the creation of a new generation of the internet — web 3.0.
We’re currently in the Web 2.0 era, which began in 1999 and has dominated the internet for nearly two decades. Web 2.0 is defined by “centralization,” which means that large corporations own and operate the internet. These corporations that have monopolized the digital landscape include Google, Facebook (or Meta), Twitter, and Amazon. The businesses own all of the code used to create and maintain the software needed to run them. Surprisingly, the firms also own all of their consumers’ information voluntarily provided over the years.
Unlike Web 1.0 and 2.0, which were defined by the HTTP protocol, Web 3.0 is characterized by blockchain technology. This technology underpins digital assets such as cryptocurrencies, decentralized finance, and non-fungible tokens (NFTs). Web 3.0 includes a semantic web, artificial intelligence, 3D graphics, and ubiquity, in addition to being decentralized. It will make it possible to conduct trustless and safe peer-to-peer transactions worldwide. Investors from all over the world will be able to securely transact across the web without the need for an intermediary third party, which will be a boon for the Creator Economy’s expanding popularity. By establishing a “decentralized” network, Web 3.0 paves the path for the Internet to become a tool for all people. It will aid in creating an open networked, permissionless, and secure online for the people and by the people.
How are Web 3.0, blockchain, and crypto linked?
Web 3.0 presents a democratic and user-centric platform with no central control point. Web 2.0 enabled cross-border information sharing, but the data was monitored mainly by centralized third parties. People worldwide will now be able to interact without the intervention of these middlemen in the future Web 3.0 presents, allowing free exchange of information with lower possibilities of censorship by governments and companies.
Web 3.0 is quite similar to blockchain technology on the grounds of transparency and openness. But the parallels don’t stop here.
As we know it, the goal of blockchain is to preserve the data structured as blocks, with cryptographic algorithms entrusted to keep them unchangeable and secure.
If Web 3.0 becomes a reality, everyone will have access to resources, apps, content, and agreements as long as the cryptographic keys are in place. There will be a plethora of decentralized solutions available to make the universe more welcoming to each of us.
With blockchains paving the path for a more “democratic” internet, dApps and Smart Contracts would be the only method to automate specific procedures. That’s where the big cryptocurrency players come in. Crypto players who offer the most powerful technology to invest in the Web 3.0 ecosystem will receive the most attention in the future.
Investing in Web 3.0
Web 3.0 will not only be a monumental change for humanity, but it might also be a pivotal event for the future of wealth. When the world begins to adopt all of the benefits that Web 3.0 offers, investors and builders who embrace these opportunities will find themselves in a better position.
For example, due to its significant role in assisting developers with decentralized apps, Etherum is a more popular Web 3.0 blockchain. This has brought Ether to the attention of long-term cryptocurrency investors. While this is an arbitrary example, several blockchains outperform others in terms of Web 3.0 significance. Graph, Filecoin, Livepeer, Helium, and other chains are among them.
Another good Web 3.0 investment is Solana. In 2021, Solana has increased by nearly 17,500% since the beginning of the year. It has been branded “the Ethereum killer” due to its enormous success. Because of its intelligent contract-based platform, it is frequently compared to Ethereum. Still, its newer and faster technology has helped it become the go-to blockchain platform for people seeking decentralized apps.
Direct cryptocurrency investments in blockchain protocols are a fantastic place to start investing. Other Web 3.0 products, such as those provided by DeFi, dApps, and NFTs, are also important areas for individuals to consider.
Finally, trading and investing in cryptocurrencies are byproducts of a more significant concept. Those who aren’t entirely on board with Web 3.0 should change their minds over time. As the value of blockchain and Web 3.0 expands, there has never been a more crucial time to begin studying, comprehending, researching, and investing in the evolution of the World Wide Web.
