We have lived through Web 1.0 and Web 2.0. What did they teach us?
Evolution, with innovation, is possible. Web3 or Web 3.0 is the hottest talk worldwide, especially in social media and news publications. It marks the beginning of a new era where AI and blockchain play crucial roles.
Web3 is a mix of emerging technologies such as artificial intelligence, machine learning, blockchain (DLTs), IoT, and VR & AR. They blend together to provide the ultimate experience and control to the end-user.
Web3 provides the blueprint for the World Wide Web to function better. It creates a state of decentralization that drives away the control and domination of governments and big tech companies. That’s why startups and even some tech giants are shifting their focus to building Web3 applications. Companies are trying to avail of NFT Marketplace Development service integration for their businesses to adapt to the digital transformation.
Artificial Intelligence and Machine Learning
Artificial intelligence algorithms and machine learning techniques have advanced to a new level. They’re now capable of making accurate forecasts and performing life-saving acts. When an application combines these two algorithms with NLP (natural language processing) in Web 3.0, it will be super-powerful. It can distinguish information just like humans to provide fast and relevant results. AI also offers personalized shopping and learning and automates administrative tasks.
Decentralization
Web3’s one of the most anticipated and promising features is decentralized Internet. It acts as a system of interconnected devices that work together to provide accurate, secure, and censorship-free access to information and services. Web3 eliminates the chances of a single point of failure, being intrinsically safe and predictable.
A decentralized web acts as a valid source of information, removes the need for intermediaries, and returns the data to owners. With data sent over an encrypted network, the owner can select what type of information to share and make money from it.
Also Read : Why most NFT Project Fails
Blockchain Technology
So now we have AI, ML, and decentralization. We need a robust framework to contain them and maximize the outcomes. And that’s where the great blockchain technology comes into play. Blockchain is a distributed ledger technology that records information in chronological order and makes it difficult or impossible to change or hack. It operates as a global peer-to-peer network of computers that facilitates trust.
Blockchain is behind the success of cryptos, DAOs (Decentralized Autonomous Organizations), DeFi (decentralized finance), and NFTs (Non-Fungible Token). With all these features, blockchain will be a crucial player in the emergence of Web3.
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