Web3 (Definition, Guide, History)

What is Web3?

Web 3.0 is a set of technologies that makes it possible to build semantic and decentralized online services, which take advantage of the latest advances, such as blockchain, to give us full control of content, as well as greater security and confidentiality. It is the union of technologies such as the Semantic Web, artificial intelligence, the introduction of 3D technology, virtual reality, as well as blockchain, networks.

Evolution of the Web 

The web was born in 1989 by Sir Tim Berners-Lee, who is considered the father of the World Wide Web. This Web was named web1.0 because it was the first version that was developed. Web 1.0 only allowed reading there. Information to users. So users of Web1.0 could only read information about it.

Development of Web2.0

10 years after its birth, the Web began to evolve towards its next level, Web 2.0. We had to witness the advent of new technologies such as JavaScript with PHP in 1995 and Java in 1996 that allowed the Web to move from a read-only dynamic to a dynamic allowing a certain interaction with the user (the user could write information directly on the Web and leave its own footprint.)
It is thanks to the advent of web2.0 that some services such as (Google, Amazon, Facebook, Twitter, WordPress, etc.) have seen the day. 

 Finally the Web3.0

We are now in the construction of Web 3.0, a new evolution of the Web that allows us to read-write-appropriate what we write in Web services, which in turn evolved from a centralized system to a completely decentralized system.  

How does web3.0 work?

The Operation of Web 3.0 is based on the. decentralization conferred on it by blockchain technology (the blockchain is a decentralized database). Blockchain allows applications to interact with users. This interaction allows users to perform operations that would be recorded in the decentralized database in such a way that at any time we can have the ability to securely acquire, transmit, create, and modify everything in the application through the use of cryptography.
To have a history of each user’s action. (Thus, with each operation in a Web 3.0 application, transactions are recorded in the blockchain.)
To have a pseudo-identity related to the user.

Use case of web3.0

With blockchain at its base, Web 3.0 will allow the creation of new applications and services based on blockchain technologies in use. They understand the following:

NFT: Non-fungible tokens (NFTs) are a unique type of cryptographic asset used to create and authenticate ownership of digital assets. NFTs are important in the way things of value are created and exchanged on Web 3.0.

DeFi: Decentralized finance (DeFi) is an emerging blockchain technology that could be the basis of Web 3.0 decentralized financial services.

Cryptocurrency: Cryptocurrencies such as Bitcoin, BNB, and ETH are blockchain-based digital currencies that use cryptography to secure the processes involved in generating monetary units, conducting transactions, and verifying ownership changes. Cryptocurrencies will be the coin used in the Web 3.0 world

dApps: Decentralized applications (dApps) are open-source applications built on decentralized blockchains. There are already dApps for charitable donations and social media platforms, among thousands of others.

Smart contracts: the smart contract is already the basis of emerging blockchain applications and plays a central role in Web 3.0. These are the program code, not contracts in the legal sense of the term - their legal status has not yet been determined in most jurisdictions - but they are more sensitive to changing conditions than traditional contracts. These will be powerful Web 3.0 mechanisms allowing users and blockchain applications to interact reliably.

Crossed bridges :

Blockchains are numerous in the world of Web 3.0 and allow a certain degree of interoperability through them. This is the purpose of inter-chain bridges.

DAOs: DAOs are decentralized entities that provide the structure and governance necessary to make a decentralized approach to Web 3.0 services practical.

Advantages of Web3.0

• Transparency: Web 3.0 allows better visibility into transactions and decisions.
• Applications delivered on decentralized networks are less vulnerable to unique points of failure.  
• Predictive intelligence and personalization: Predicting and personalization thanks to AI and ML make web3.0 more responsive to users.
• Decentralized finance: This makes it possible to carry out transactions, including the purchase and sale of products and services, as well as to obtain loans, without the need for the approval of intermediaries.  
• Provide a high level of privacy, because it is not necessary to provide a real identity to deploy or interact with a dApp.
• Offer a high level of resistance to censorship.  

Complete data integrity, because the data stored on the blockchain is immutable.  

FAQ on the web3.0

Is Web3.0 the same as metaverse?

You can think of the metaverse as a user experience supercharged with 3D augmented and virtual reality that turns the internet into a single, shared virtual space, enabling people to do things that aren’t possible in the physical world. The metaverse will require blockchain, the most important part of Web 3.0, to decentralize and secure its digital content and tokenize assets. Web 3.0 could, in theory, exist before the metaverse, but the opposite is unlikely. For a single, virtual world – a metaverse – to be created, Web 3.0 will need to replace the fundamental infrastructure of today’s web, or at least major parts of it.

What are the cryptocurrencies used in web3.0?

Many cryptocurrencies are used in web3.0.
If you want to invest in cryptocurrencies that are useful in the web3, you can go to the BNB Chain website, which is an ecosystem made up of many Web 3.0 projects

About BNB CHAIN 

Launched in September 2020, BNB Chain is a blockchain service that allows developers to build their own decentralized apps using smart contracts. The original Binance Chain wasn’t built to allow such functionality, but the BNB Chain has been designed to provide the same kind of speedy transactions while also greatly expanding the available features and capabilities. It’s also compatible with the Ethereum Virtual Machine (EVM), which means it’s capable of running dapps ported over from Ethereum

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