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What is Web3 and when is it coming out?

Try to think of a new kind of internet that can accurately understand any information you share. Audio, text, or other media make no difference: modern technology requires new cognitive abilities. The set of these new tools is called Web 3.0 (or, more simply, Web3).

It is difficult to understand the birth of such a significant phenomenon while this change is happening. For example, when social media was born, no one rushed to talk about “Web 2.0”. New era technologies are already applied in several domains, but they have a much greater potential than their current use.

This article will try to understand better what Web 3.0 (or Web3) is. To do this, we will address the discourse from a historical point of view and then highlight the main peculiarities of the new web universe of the future.

Understanding the Web 3.0 opportunity

Tim Berners-Lee, the famous creator of the World Wide Web, called Web 3.0 “the Semantic Web”. The idea of ​​this project was to give humanity a more brilliant internet with the ability to interpret the input of its users better. 

Imagine, now, a future in which it will interconnect data with each other thanks to an entirely decentralized structure. This is the great innovation that Web 3.0 should bring to the world.

Each computer must analyze information under at least two different dimensions: its concept and its context. The fundamental tool for reaching such an ambitious target will be artificial intelligence.

Taking it one step further, it is clear how the decentralized nature and the semantic goal of Web 3.0 will lead to a particular interaction between technologies. For example, AI, blockchain, and cryptos will have to join forces to let us overcome the Web 2.0 concept.

This will allow us, for example, to automatically carry out transactions between two different continents. We will leave the work that two bank employees do today to a smart contract, and intelligent technology will ensure the efficiency of the operation.

A little bit of history

Before continuing, we believe it is essential to make a historical reminder. To understand the unique opportunity emerging from Web 3.0, we must mentally go back to when Web 1.0 and 2.0 were born.

You may have heard of Web 1.0 as “Static Web”, a technology that spread around 1998 and disappeared in 2005. Back in the days, user interaction was limited, and no one saw value in letting you comment on an online article or image

The Static Web did not use particular complex algorithms (such as those used today by social media). Instead, it was a simpler world, where users wanted to see a web page with a good layout and valuable content, then shut down their PC and do other offline activities.

Introducing programming languages

The evolution of programming languages ​​(HTML5, CSS3, JavaScript, and others) and, above all, the new social dimension of the internet created Web 2.0. The article you are reading right now comes from this kind of technology.

This new way of seeing the Web as a platform for interaction between users has radically changed our economy. Few companies today decide to buy a newspaper page to advertise their business. Instead, the modern world moves on social campaigns with increasingly innovative and imaginative forms of marketing.

Web 2.0 is great, believe us. However, this is not enough, and we all have experienced its limits. Your computer, tablet, or smartphone is just a tool that needs your guidance to work efficiently.

However, machines have an extremely high computational power compared to human beings. While this does not make them “intelligent” in the human sense, today, we use a small portion of the potential of specific algorithms.

Also, how many times have you felt frustrated because of issues on centralized portals? Think, for example, to your bank: what if it were possible to avoid malicious attacks to steal your account information?

While the world is still working on this issue, blockchain is considered an excellent solution to the problems of data-centralized portals. By encrypting information and building P2P networks, this system is learning to securely handle a large amount of data. However, some security issues remain, so we generally claim that the world is still in the Web 2.0 stage.

What can we achieve with Web 3?

Do you remember when it announced the Internet for the first time? If you go back to those days, the chances are that you heard something like: “Internet will connect computers”. That did not sound like a huge deal, and this is perfectly normal: no one knew what the Internet could achieve.

In the 90s, not many people could tell what was happening with this new technology. We were all in the dark if you exclude a few visionaries such as Jeff Bezos and the duo formed by Larry Page and Sergey Brin.

A similar situation happened with Web 2.0 when many companies initially saw Facebook as a teenage project and not a marketing opportunity. For this reason, it is not surprising to see a lot of confusion around Web 3.0 as well.

What we understand, at the moment, is that the new Web will possess several features:

  • Enhanced Ubiquity: with Web 2.0, we can simultaneously be indifferent to virtual places. We expect Web 3.0 to speed up this process, bringing a better work-life balance to the world.
  • Semantic Analysis: computers in Web 2.0 could only distinguish an image from a text, but they could not understand the context of data. Web 3.0 is supposed to overcome this barrier.
  • The Metaverse: the digital world will bring a series of virtual assets to our economy (think, for example, to the NFT market)
  • Artificial Intelligence: input by users needs to be analyzed and interpreted. Algorithms will be able to help us perform repetitive actions over time systematically.

Our conclusions

Futuristic projects like the Metaverse or the Ethereum Name Service (ENS) will allow us to live a new enhanced experience on the Internet. We will keep an eye on how AI systems will evolve, and we won’t neglect the promising altcoin sector (think, for example, to coins such as SOL).

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All the technologies mentioned in this article come with extremely high expectations. We are eager to see how they will evolve and how humans will adapt them to their needs. The world hopes to see Web 3.0 come to life by the end of the decade, and there are good chances that this will happen.

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