After the massive popularity of metaverse, Web 3.0 seems to be the latest buzzword taking over the world. Also Known as decentralized or semantic web, it is the third version of the World Wide Web. It is expected to be a huge improvement over the current web 2.0.
Under this previous version of the web, the internet has become a social village. With such an enormous number of people sharing their lives online, privacy naturally becomes a concern. Big tech companies like Meta, Twitter, and Google are controlling the majority of how people interact and share content online.
This raises some questions related to privacy and freedom of speech as these platforms restrict what can or cannot be posted.
Web 3.0 is expected to solve all of these problems along with providing additional perks such as compatibility with cryptocurrency, decentralized nature, and transparency. Read on to find out more about what is web 3.0 and its predecessors, how it links with the crypto narrative, and what it holds for the future.
What is Web 1.0 vs web 2.0 vs web 3.0?:
All of these are steps in the development of web working. The value represents the next step in the framework, and we must first introduce the multiple versions of the same thing in order to fully understand them. There are three types of web working, each with its own set of advantages and disadvantages.
It refers to the initial stage of the World Wide Web’s evolution. This model although is now obsolete was revolutionary back in the day. As the user base far exceeded the content creators, personal static webpages were common. This form of web restricted running advertisements while surfing the internet.
The websites charged users according to the number of pages viewed. The content was served from the server’s file system and pages were built using Common Gateway Interface. This form of the read-only web was first introduced in 1989 and continued till 2005. Lack of user interface, absence of interactive content, and disregard of user preference lead to its decline and paved the way for Web 2.0 to emerge.
This type of web refers to the second step in the evolution of the internet. It features web pages that are interactive and tailored to consumer preferences. It is a drastic shift from the conventional web 1.0 pages that weren’t user-friendly and restricted the free sorting of information.
One of the key components of this web is that it highlights usability and interoperability for end users. It contains dynamic content that is responsive to user input and improvement is brought through online interaction and commenting.
Social Media and streaming sites are prime examples of how the content is user-centric and appealing. This web begin in 2005 and is present to this way in form of the internet that we use. Information overload, scams, and negative comments are the most prominent downsides of this web.
Compared to the initial version, it is miles better but it is not quite up to the mark with technologies that are yet to come. For making a safe haven for those technologies such as Metaverse, it is necessary for the web to undergo a transformation to Web 3.0.
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This is the most developed form of the internet. For the first time, it lays the framework for upgrading the back-end of the web. For instance, there was only a focus on improving the front-end. But now the focus was shifted. In this form, the data on the web is not owned by any organization.
Big tech companies neither control the content nor confine users to any framework. It aims to revolutionize how information is processed by making artificial intelligence capabilities to process and present data that match consumer demands. The websites would be highly responsive and would contain 3-d graphics. E-commerce, finance, and education everything will be carried out virtually.
Digital Avatars will become as important as email addresses. The search engines will start to understand what the user wants rather than relying on keywords or numbers. As it will be based on blockchain, there will be a symbiotic relationship between decentralized finance, cryptocurrency, and blockchain. The major plus point will be this integration which would enable finance to eliminate middlemen and truly be autonomous. They will be interoperable, seamlessly integrated, automated through smart contracts, and used to power anything from microtransactions.
The Pros Comparison:
All these forms of the web have their benefits. Therefore it is necessary to compare web 1.0 vs web 2.0 vs web 3.0.
Firstly, web 1.0 is primarily read-only and allows minimal interruption. It includes homepages and content is owned by big companies. In contrast, web 2.0 is simple only so, it is more community-focused. It contains blogs or wikis instead of homepages.
Therefore, it allows the content to be shared instead of being owned. Web 3.0 or semantic web is portable and personal. It is more tailored to the user experience, and similarly, it focuses more on individuals. Compared to its previous versions, Web 3.0 doesn’t have home pages. As a result, it features live streams. Content is neither owned nor shared. But it is merged.
They generate revenue based on cost per click, and advertising is interactive and more personal. Secondly, it contains directories, and they generate revenue based on page views. They display data based on user behavior and we generate revenue based upon user engagement.
Version 3.0 contains innovative applications which adapt according to user preference. Version 2.0 has refined web applications that are adjustable and adapted well towards community needs. The main mode of advertising is behavioral advertising.
Banner Advertising is the most common and accessible way of advertising. Cyberweb 1.0 features web forms, which are the most basic applications. This means that a relevant keyword or term is used to present and extract data. In the place of directories, we apply tagging.
Web 1.0 is a readable version of the web with flat data and limited interaction between sites and interweb users. Similarly, it is like an information portal where users can get data but not post or review things.
It doesn’t focus on what consumer prefers and there is little room for improvement due to restricted online interaction. Web 2.0 is significantly better but still has issues like information overload, scams, frauds, and fake reviews.
Web 3.0 aims to improve the current search engine and financial system. It will decentralize the web to allow the integration of fintech and cryptocurrency on the internet which will allow seamless transactions.
The Cons Comparison
Now that we have compared the pros of web 1.0 vs. web 2.0 vs. web 3.0. Therefore, let us move towards their cons.
Static and Flawed Revenue Stream:
Web 1.0 only supports single-way communication. This means that the client has to pull data according to his need. The server won’t push out data with user interaction, and the site is read-only. It is also more focused on companies and doesn’t improve data according to the user’s needs.
One other major flaw is the income generation process. It creates income through the number of times we have viewed a page. The form of advertising is also no longer useful. Web 1.0 is like a secure website that is not interactive and is just an information doorway.
Similarly, there is no chance of a website improving over time as there is no customer feedback. It is also static, so web admins have to update it regularly.
Web 2.0 is highly interactive and user-friendly. As a result, users are more likely to waste time on social networks like Facebook. The dependency of people increases on digital platforms as they become unhappy with their boring lives.
It is engaging and responsive to user preference, which can lead to reliance. Above all, misinformation can also spread easily. As a result, many people become lost in the heap of false content.
Internet 3.0 is the most advanced form of the web. Although it looks like it will be of benefit, it still has some cons. Existing web 2.0 site owners will be forced to upgrade as those places will become outdated.
Web 3.0 is also quite complex and confusing for newcomers to understand. As a result of recent advancements in technology, things have improved a lot. But this technology needs to develop much more if it handles web 3.0. Most people prefer their old gadgets, and this will make it hard for them to upgrade. As the web becomes more user-specific and interactive, people will develop an unnecessary reliance on it.
As a result, through careful analysis of web 1.0 vs web 2.0 vs web 3.0. We find these interweb forms contain their advantages and disadvantages. But web 3.0 has the tiniest poor results. As a result, its promises far outweigh others. Web 1.0 has become completely no longer useful and unrelated.
Therefore, as soon as technology goes forward majority will move to web 3.0. The reason for this shift will be compatibility with cryptocurrency. This is evident from the fact that Samsung has already entered the metaverse. These two terms sit well with investors and crypto fans. It is only a matter of time before Web 2.0 becomes old, just like web 1.0. Till then, we hope that technology running web 3.0 will become more accessible.