Crypto 101: What is Web 3.0?

🤓 What on earth is Web 3.0? How does it compare with Web 2.0?

Web 3.0 is the upcoming third generation of the internet where websites and apps will be able to process information in an intelligent human-like way through technologies like machine learning (ML), Big Data, decentralized ledger technology (DLT), etc. Web 3.0 was originally called the “Semantic Web” by World Wide Web inventor Tim Berners-Lee and aimed at being a more autonomous, intelligent, and open internet. The Web 3.0 definition can be expanded as follows: data will be interconnected in a decentralized way, a giant leap forward to our current internet generation (Web 2.0), where data is mainly stored in centralized repositories. Furthermore, users and machines will be able to interact with data. But for this to happen, programs need to understand information both conceptually and contextually. With this in mind, the two cornerstones of Web 3.0 are the semantic web and artificial intelligence (AI).

🤔So, what is the point of Web 3.0?

Web 3.0 and cryptocurrencies run on what are called “permissionless” blockchains, which have no centralized control and don’t require users to trust or even know anything about other users to do business with them. This is what people are talking about when they say blockchain.

😫 For an example

Selling Physical vs. Digital: Comic Books on Web 3.0

Back in the day, you could only buy comics online, and you only owned a physical copy, which had to be verified and graded before it could be sold properly. For web 3, you have the proof that says you are the owner of this piece of art, whose authenticity is easily verifiable by the blockchain.

About Crypto 101:

Crypto 101 is a series contributing to the Learn-to-earn program of EZ Wallet. The series will have two main contributor sources, the first is from the EZ Wallet team, and the second is from the community members of EZ Wallet. For a better understanding of how to get involved, join EZ Wallet on discord to find out more.

About the author

About EZ Wallet:

EZ Wallet is on the journey to make crypto more accessible and convenient for everyone, from the crypto newbie to the seasoned crypto vet. The EZ Wallet team is a diverse and dynamic team aiming to create a non-custodial wallet that makes everyone’s journey into the crypto world easier, with a more friendly interface that simplifies the Crypto process while simultaneously pushing the boundaries of what advanced features a digital wallet can provide.

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