The importance of Blockchain in Web 3.0

Almost four decades since the creation of the World Wide Web, the Internet, the content it offers and the ability to interact with it have gone through various stages. But evolution does not stop for a dynamic medium like the Internet, which is expected to offer new experiences in the coming years.

Going back 40 years, the Internet in its early days, which generally consisted of static pages, was a new window of instant information for the public. For more than 10 years, as long as the Web 1.0 era lasted, users were passive receivers of information. Content was developed and transmitted as a rule by companies, institutions and organizations.

Web 3 (Semantic Web) Usage Areas

Web 2.0

Since 2004 things have changed. Web 2.0 was based on the idea that the Internet is a platform on which users have equal rights to create content. Forums, Social Media, Blogs and other services are the result of this new idea in which the public takes an active role and can produce content open to all. It is this second era, which continues to this day, that has grown the footprint of the Internet, with its almost universal acceptance around the world.

Web 3.0

The creators of the Web 3.0 concept put at its heart an Internet service that retains the functionality of Web 2.0, but will be egalitarian, community-based and decentralized, thanks to Blockchain technology. Blockchain at the core of Web 3.0 is no coincidence since its idea is attributed to Ethereum co-founder Gavin Wood in 2014, who envisioned a decentralized online ecosystem based on this new technology. An idea that has gained particular popularity in recent years, due (logically) to the explosion in the popularity of cryptocurrencies.

Simply explained: What is Web 3.0?

For Gavin Wood and the evangelists of the new Internet era, Web 3.0 will not be controlled by governments, banks or the aforementioned technology companies. Ownership and control will belong to the users, who will create their own online services and transactions by owning cryptocurrencies, NFTs and other “crypto-assets” that Blockchain technology can provide. Decentralized, autonomous organizations, decentralized funding, no banking or government involvement, and data self-sovereignty are all included in the Web 3.0 vision.

The Future of the Internet: Metaverse, NFT and Web3

But Web 3.0 remains for now a vision. Indeed, some appear sceptical because of its unclear aspects, while others believe that it will remain unfulfilled, with little chance of becoming a reality. Regardless of the outcome, one thing is certain: the Internet will continue to provide us with exciting experiences in the future.

Would you like to start your own Web 3.0 project? Contact Enkronos team today

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