Explore in detail about Web 3

1. What is Web 3?

Web 3, also known as the Semantic Web, is the third generation of the internet technology platform aimed at addressing its limitations and optimizing utility with AI, blockchain technology, and moving towards the Metaverse to transform the internet into a reality similar to your everyday life.

A small example of Web 3: Suppose you are driving and need to find directions. In the past, you had to do it manually, or even with Google, you still had to visit a website and input your query. However, with Web 3, you only need to say something like, “I want to go to LonDon,” and the system will automatically provide the most optimal guidance without you needing to activate any applications or websites.

2. Understanding the Development Stages of the Web on Web 3

The web has undergone significant development in recent years. Looking at today’s applications, it’s hard to imagine that the web was initially in a very rudimentary and boring stage. The evolution of the internet is divided into three distinct stages: Web 1.0, Web 2.0, and Web 3.0.

Web 1.0: This is the first generation in the overall development process of the web. The term Web 1.0 typically refers to the earliest computer network connections in the 1970s and 1980s, up until the emergence of browsers and the first websites in the 1990s.

Web 2.0: It began to take shape in the mid-2000s. Key platforms such as Google, Amazon, Facebook, and Twitter dominated the internet market by enabling people to connect and transact online, with a few players dominating most of the market.

Web 3 (short for Web 3.0): It represents another application of blockchain technology beyond the most commonly seen cryptocurrency applications that we encounter daily. It is considered the future vision of the internet, where people primarily operate anonymously on decentralized platforms, rather than relying on tech giants like Google, Facebook, Twitter, and others.

3. How do Web 3 websites work?

By recording user activity logs on the blockchain, Web 3 enables users to share their data across the network environment and interact between websites using a single account. Web 3 improves privacy, enhances transparency, eliminates intermediaries, facilitates data ownership, and provides digital identity solutions. Web 3.0 functions like a database.

This massive database is accessible for searching information on the internet to answer your queries. It can know everything about you, acting as a counselor or assistant that accompanies you. Additionally, blockchain technology can enable more direct online transactions and interactions without the need for intermediaries and central servers as we have today.

4. Web 3 advantages:

Web 3 is decentralized

Built and developed on the Blockchain technology platform, Web3 applications have transactions that are directly exchanged peer-to-peer and are not controlled by any individual or organization.

In today’s Web 2.0, information data is stored on a specific platform controlled by developers, but in the world of Web3, information will be in multiple places and completely decentralized without going through any central authority.

Web 3 is highly reliable

Personal data is under your control and security. It seems there is no way for hackers to infiltrate the network and take your assets unless you disclose your password or wallet passphrase. Stealing users’ personal data is impossible for hackers unless they can hack the entire global internet network, which is not practical.

Web 3 can be self-managed

Anyone can participate in Web3. Information and data are managed and stored by you. No one can infiltrate, steal, or disclose your privacy unless you allow it. This is in complete contrast to platforms like Facebook and Google, where users have full control over their personal data on the platform’s servers.

Strong decentralization of Web 3

An application or platform on Web3 does not have a centralized server like a centralized web system. They exist continuously, side by side, day and night. Power outages due to natural disasters or server disruptions caused by hackers that affect current web server systems will not affect your experience in the Web3 world.

Data permanence of Web 3

Your information, games, articles, favorites, text messages, or other data on Web 3.0 will exist as long as the global internet is operational, and no one can access, modify, or delete it. It remains permanently over time and easily accessible at any time.

5. Web 3 disadvantages:

Enormous amount of spam data

Due to the decentralized and permissionless nature of Web3 networks, data can be uploaded in large quantities with less information. Both valuable messages and spam messages are stored on the network, leading to a poor user experience.

Additionally, inappropriate content for all age groups and unhealthy content (18+, violence, war, etc.) are serious issues that need to be addressed. Once data is on the blockchain, it remains there continuously, and no one can do anything about it.

Legal challenges

Imagine an internet platform where no one controls the content or sensitive topics such as politics, religion, war, etc. In a decentralized structure lacking control, cybercrime, inflammatory speech, and misinformation will become more severe. A free and decentralized web will also operate. 

Enforcing legal regulations becomes more challenging across jurisdictions. Consider which country’s laws will apply to a website with content stored in multiple countries worldwide. This will drive a new mechanism in the new era, known as DAO (Decentralized Autonomous Organization).

Not user-friendly

Until now, Blockchain technology in general, and Web3 in particular, are still in the early stages of building trust and practical application in people’s lives.

The functions and usage can be quite complex and difficult to understand for certain demographics such as the elderly or those who are not tech-savvy. These features require users to have some knowledge of technology as well as the internet.

Unclear scalability

As information and data are continuously stored on the Web3 network, managing memory over time becomes a concerning issue that needs to be addressed. The transaction processing and data loading may slow down over time, negatively impacting the user experience.

 Slow processing speed

The validating nodes must run based on the fundamental functions of the blockchain, which can lead to network congestion and a subpar user experience.

These are the most basic pieces of information regarding Web3 and its advantages and disadvantages. From a futuristic perspective, Web3 still needs improvement in many aspects, but it remains a promising solution for the current era.