WEb 3.0 and future of Internet ! what you missed ?
An Introduction to Web 3.0 and Its Role In The Future
The dominance of technology giants over the Internet and the use of client data for unknown purposes has painted a bleak future. However, in the midst of this turmoil, the emerging idea of the great computer scientist Dr. Gavin Wood, Web 3.0( Semantic Web ) , has revived hopes for a world without domination and control.
Web 3.0 is in your hands
A dramatic change in the world of the Internet
The current Internet is considered a design failure; that is why seven years ago, Dr. Gavin Wood, co-founder of Polkadat and co-founder of Ethereum, introduced the concept of Web 3.0. Therefore, Web 3.0 can now be considered the next important step in Internet technology.
Gavin Wood envisioned an unlicensed, a kind of Internet that operates within a democratic society with no centralized regulatory legislation and the dominance of large tech giants over user data.
In fact, the idea of Web 3.0 came about because big IT giants like Google, Facebook and Amazon, by taking over a large part of users’ personal data in cyberspace. On the one hand, use this information for their own benefit.
Targeted, selling users’ personal information and directing public opinion and, on the other hand, endanger users’ data security by storing metadata on their centralized servers.
Gavin Wood, in a podcast titled Third Generation Web released in 2019, points out that:
“In fact, their users do not value social networks; rather, it is the data of individuals that is more important than ever. Today, Silicon Valley startups raise their budgets and raise capital based on user data collection. Some platforms record almost everything you do.”
He goes on to say:
“This data can be used for targeted advertising, yet this information can also be used in cases such as a better understanding of the mechanism of the world. With this data, you can predict how people around the world will think; at the same time, you will be able to better understand the political changes in a country. Admittedly, with such information, you can even predict things like election results.”
What happens if Web 3.0 is ignored?
More than 4 billion people now use Web 2.0, or the current version of the Web. If the Web community ignores 3.0 and is still determined to be centralized, we run the risk of ongoing corruption and eventual community failure.
Power brings corruption, and absolute power lays the groundwork for absolute corruption. We have already seen such conditions in Maoist China and the communist Soviet Union. The Internet is not free of corruption either. In fact, the Internet is more endangered because none of us understands it technically.
For Instance, I can hardly adjust my Wi-Fi, let alone understand the code that allows me to write words on the Internet. I even made the computer I use myself, but according to British scientist Arthur C. Clarke, the technology is still not recognizable by magic.
The third generation of the Web pursues these goals to combat hegemony and centralism:
Open Networks
Digital currencies are made from open source software; So that developers can access the code and use their experience to develop the optimal version they want. Projects such as Binance Smart Chain and Ethereum Classic have used the Ethereum programming language, which is an open source software.
Elimination of intermediaries (without the need for trust)
Trust in intermediaries is always corrupt. Google, the largest Internet intermediary today, once entered the tech world with the slogan “Don’t be evil” and gained the trust of users; but we must make sure that the rules and regulations work for us and not against us.
When we see that searching for a single word has different results for each of our friends, it becomes difficult for Google to accept this slogan. Google and Amazon are our current Internet mafia.
Unlicensed
Anyone can contribute to Web 3.0. With Bitcoin, anyone can have their own bank. With Ethereum, anyone can enjoy the rights to their artwork. The codes here are the law. Everything in this system is accepted through a democratic process. A process in which members of the community vote in favor or against. This process is what has created Softfork, Hardfork, Decentralized Autonomous Organizations (DAOs), and government tokens.
Examples of Web 3.0 projects
In the following, we will examine three Web 3.0 projects that we consider attractive investment options.
Polkadat and Kusama
The most important project supported by the non-profit Web 3.0 Foundation in Switzerland is Polkadot. In less than a year, Polkadat has launched more than 350 softwares, transformed blockchain technology through parachutes, and made great efforts to promote pluralism and maximalism in the blockchain.
It must be acknowledged that Polkadat is seriously involved in this field and should not be referred to as the “Ethereum killer”; all the network has to do is act as a tool for interacting with other digital projects and currencies.
The ultimate goal of Web 3.0 is to connect all people regardless of social status, political affiliation, or ideological beliefs. There is room for all kinds of attitudes on Web 3.0.
Polkadat & Kusama logos
Any project that ultimately wants to run on Polkadat must first be tested on Kusama. Kusama is a pre-production platform for Polkadat and is a unique project of its kind. Developers of digital currencies will be able to test their applications using Kusama before running them on the main network.
Ocean Protocol
Data collection never ends. Nevertheless, there are more ethical methods in this area that even allow the presence of technology giants.
Ocean Protocol was launched in 2017 based on Ethereum codes. Elimination of intermediaries, decentralized data storage and artificial intelligence sharing service are among the features of this network.
This project wants to play a role in the field of data like Uni Swap Exchange and provide access to the free data market for all individuals and businesses.
Ocean logo
McConaghy, the project’s creator, said last year in an interview with Coindesk about the importance of the Ocean Protocol:
In the past, many people have tried to build markets based on data; but privacy issues have hindered their success. Ocean has overcome these obstacles by using China Blockchain technology to calculate and analyze data.
Therefore, our goal is to open up the data economy by creating data markets and connecting buyers to sellers. These buyers and sellers can be individuals, families, small and large companies, cities and even countries.
Internet Computer
If we want to refer to the project that is at the forefront of this field in terms of the goals and nature of Web 3.0, we must mention the Internet Computer.
Earlier this year, the Internet Computer token was able to enter the top 10 digital currencies in terms of market value. The Definiti Foundation project soon became a popular name among investors and computer enthusiasts. This cryptocurrency project now offers users a decentralized LinkedIn social network called LinkedUp and a version of the TickTock social network called CanCan.
Internet Computer (ICP)
However, the Internet Computer has several major issues that need to be addressed. Some of these are mentioned in the popular Coin Bureau YouTuber app as follows:
- You need an ID to work on this network. An identity that virtually all activities in this network depend on. So if you lose your ID, your computer internet access will be blocked forever.
- The Network Nervous System (NNS) connects all computer Internet protocols. This system is a powerful and centralized reference that can make changes to the financial and economic mechanism of the ICP token.
- Most of the codes used on the ICP are not open source. On the other hand, access to the computer blockchain is also licensed; Therefore, NNS is a single point of failure in the network due to the mentioned features.
- Dominic Williams, creator of the Internet Protocol (PC), said in an interview in 2018 that the project aims to comply with the laws of each country in which the network operates. The question now is how such a thing would be possible for a protocol that claims open and decentralized sovereignty.
According to some, the Internet of Things intends to replace the current version of the Web with a more centralized version. Thus, it can be concluded that this project is a flawed version of Web 3.0 and members of the digital currency community have been attracted to it only because of price fluctuations.
In the continuation of this article, we will review a part of the report of the creators of this network regarding the characteristics of the computer Internet:
As the New Year approaches, nearly 1,000 nodes around the world will be operated as databases. Each node has the highest standards of performance and physical security. These nodes allow us to provide the processing capacity needed to run and implement PC Internet.
The above phrase implies that specific and certified devices are required to operate as ICP 90. Then, such a controlling and incorrect process is practically in conflict with the nature and goals of Web 3.0.
In conclusion
Web 3.0 presents us with two options: first, a democratic future through decentralization, and second, oversight and authoritarianism, which is in the hands of only a few centralized factions.
To understand this authoritarianism, we must not look only at China as a supplier of digital Yuan. Rather, to understand the nature behind the scenes, it is enough to pay attention to the fact that the Chinese Communist Party can set a time for you and force you to spend this money. Although this seems like a terrible thing, the Chinese people have given in to it because they have no other choice.
As Gavin Wood points out in his remarks, accepting Web 3.0 will not be quick and easy. Some governments are trying to outlaw digital currencies and replace them with more centralized options.
The key word in this situation is “effort”. Governments do not have the ability to rectify the current situation, and people like Gavin Wood do not trust any of them. There is fierce competition in Web 3.0, and this confrontation is slowly coming to an end. It is not clear who will win this match in the end.
In the following article from www.coinmarketsig.com, we discuss the place of Web 3.0 in the future of the Internet and the importance of investing in this field.
