Cryptocurrencies and decentralized technologies are getting all the attention in 2022, as they should. These technologies enable people to cut out the middleman, engage in Peer-to-Peer transactions and choose not to be monitored by big-tech companies and governments. Cryptocurrencies facilitate permissionless payments on a permissionless network, allowing people to store and exchange value in assets that are scarce, digital, and safe.
The internet, as we all know it, is constantly evolving. Ever since the very beginning of the web, we have come a long way, from single-page websites and text-based content to artificial intelligence and machine learning. Now, with a boom in decentralization, the internet is due for a major upgrade too.
But what is Web 3.0? And how is it different from the other… webs?
- Web3 is the most advanced form of the internet yet. It plans to use advanced concepts like artificial intelligence and 3D graphics to distinguish humans from robots, generating faster and more relevant results.
- While most people are still consumers of the internet, often used as the ‘product’ for advertising campaigns, Web 3.0 aims to make people shareholders of the internet by the use of governance tokens and NFTs.
- The top five Web 3.0 trends to follow in 2022: Artificial Intelligence, Semantic Web, NFTs, Cloud Computing Technologies, and Decentralised Social Media.
Web 1.0, 2.0, and 3.0
Web 1.0, or the first version of the internet, was characterized by static web pages that were mostly personal websites hosted on ISP-run web servers. These web pages were created on free domains and most of them did not allow advertisements. In the Web 1.0 era, there were few content creators and most people on the internet were consumers. Basically, all the internet was used for back then was posting pictures online and blogging about them. Or, making stuff like this.
Web 2.0, thankfully, brought with it an internet revolution. It was characterized by loads of user-generated content, utility, and interoperability. Even though the way webpages were created and used did not differ, the transition brought a lot of participation from people like you and me. Interaction and collaboration became the root for social media’s development where people from all walks of life came together to share ideas and engage with the community digitally. This is the era we’re in right now, and it is characterized by highly complex web pages with millions of simultaneous users; to wit, Instagram, Reddit, and Twitter, along with e-commerce websites like Amazon and Alibaba.
Web 3.0, however, is the most advanced form of the internet yet. It plans to use advanced concepts like artificial intelligence and 3D graphics to distinguish humans from robots, generating faster and more relevant results. The web itself will be designed to be more intelligent and be accessible to multiple applications that access its services everywhere.
Moreover, web 3.0 capitalizes on decentralized technologies like cryptocurrencies and NFTs to create a permissionless digital environment for most internet users by protecting their data. By making the internet more democratized, it aims to bring ownership and participation on the internet on an unprecedented scale.
While most people are still consumers of the internet, often used as the ‘product’ for advertising campaigns, Web 3.0 aims to make people shareholders of the internet by the use of governance tokens and NFTs.
In this article, we’ll discuss the top trends that are playing out in Web 3.0, ones that you should keep an eye on as an investor.
Let’s get right into it!
Top Trends to Follow in 2022
Artificial Intelligence is one of the biggest technological innovations this generation has ever seen. Characterized as technologies that enable computers to perform tasks that would normally require human intelligence, AI is considered by most as the tech of the future. Decentralization has made AI unstoppable in every industry. It is now being used to maximize computing efficiency and make repetitive jobs redundant, freeing up human intelligence for more innovative pursuits. Web 3.0 could potentially use AI by means of techniques like pattern learning to create new content, and make browsing safer.
The Semantic Web can be understood as an extension of the Web 3.0 concept. It is a mesh of large amounts of data that is associated to allow machines to read through it without requiring human involvement. The Semantic Web is a way of data representation in the form of a globally linked database, where data can be easily stored, collated, and retrieved by machines as required. It reduces the amount of human effort needed to sort through loads of seemingly irrelevant information and find value.
NFTs are also an immensely important part of the Web 3.0 revolution. NFTs allow people to own pieces of digital art and other digital media, along with the ability to stake and monetize them. They can also be used to attribute intrinsic value to original documents like identification, diplomas, and healthcare records. These tokens would serve as proof of existence, authenticity, and ownership of these digital assets. As Web 3.0 becomes bigger and more people start trusting decentralized technologies, NFTs become the medium through which we prove ownership of information important to us.
Cloud Computing Technologies
Web 3.0 is also enabling people to access computing resources, sensitive information, and other confidential data from anywhere in the world through the internet. The most prominent use case of this technology in the real world is cloud mining, a process that allows miners to ‘borrow’ computing power to mine cryptocurrencies.
Decentralized Social Media
There are lots of aspects of decentralized social media that make it different from platforms like Facebook and Reddit. For instance, decentralized social media wouldn’t be a standalone website that users can access at their whim – it would be a network of hundreds of different communities, each of which owns a piece of the code. Users would also be able to choose the amount of information they give out to the public, maintaining privacy and control over personal data.
The above-mentioned trends are tiny snapshots of a bigger revolution. This is absolutely not an exhaustive list. Since Web 3.0 technologies are still in development, most of us don’t know for sure what everything’s going to look like going forward.
However, what we do know is that Web 3.0 isn’t far away and that once it’s here, it’s going to be here to stay.
Disclaimer : Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. The information provided in this post is not to be considered as investment/financial advice from CoinSwitch. Any action taken upon the information shall be at user's own risk.
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