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BLOCKCHAIN AND ITS ROLE IN WEB 3.0

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BLOCKCHAIN AND ITS ROLE IN WEB 3.0

The following article will provide you with a comprehensive grasp of how blockchain could help Web 3.0 grow.

But before that, let’s go through the basics of WEB 3.0 and Blockchain Technology.

HISTORY OF WEB?

People could construct read-only text threads on Web 1.0, which was simply a bulletin board. There was a strong emphasis on open protocols that were decentralized and regulated by the community.

Web 2.0 revolutionized this by incorporating multi-media and enabling people to engage with webpages as if they were apps.

Web 2.0 also brought search engines that enabled non-technical people to do keyword searches for information. Although this was a positive step forward, keyword searches do not always yield relevant results.

If a 2.0 user looks for information about a Camaro insect, for example, the search engine results pages (SERPs) are likely to include information about the Chevrolet Camaro automobile.

Web3 search engines, on the other hand, will evaluate a user’s history data across different platforms and utilize artificial intelligence (AI) to identify the query context and deliver information about the insect rather than the car.

 WHAT IS WEB 3.0?

Web 3.0, also known as the read-write-execute web or the semantic web, is the third and current version of the World Wide Web.

With the introduction of dynamic apps, and interactive services, including machine-to-machine contact in 2020, web 3.0 began to take shape.

Artificial intelligence and machine learning intelligence enable machines to interpret information like people  and assist in the intelligent generation and distribution of valuable material that is tailored to the user’s specific needs in Web 3.0

Blockchain, edge computing, decentralized data networks, and artificial intelligence are four new layers of technological innovation that fuel Web 3.0.

WHAT IS A BLOCKCHAIN TECHNOLOGY?

Blockchain, also known as Distributed Ledger Technology (DLT), is a system that assists in the recording of data.

The data is placed in such a way that anyone attempting to hack or exploit the system will have a tough time doing so. The technology ensures that the system is visible and irreversible.

Every blockchain contains transaction information, and each participant’s ledger is updated with each new transaction. The database is thus dispersed and administered by a group of people.

Every transaction is recorded using an unchangeable security token called a hash, which helps in tying each new block to the preceding block.

This makes it tough to attack the system since even if one block is tampered with, the participants will notice that someone is attempting to hack it. To hack the system successfully, the hacking group will have to alter all of the blocks, which is impossible.

Blockchain technology is used to run Bitcoin and other cryptocurrencies like Ethereum. As more people use these digital currencies, the number of blocks will increase, making the system more secure overall.

The process is more effective, and because there are no transaction costs, it is also less expensive.

WEB 3.0 AND BLOCKCHAIN TECHNOLOGY

Blockchain is the backbone of Web 3.0; without the systems offered by blockchain, Web 3.0 would not have been achievable. The makers of Web 3.0 are utilizing the greater safety and confidentiality offered by blockchain to appeal to internet consumers.

Because blockchain is a decentralized system, it does not have a single point of control that may be hacked. Personal websites and the internet as a whole would be substantially safer against threats under Web 3.0.

Users would not have to be concerned about their data being lost or hacked. Web 3.0 and blockchain will also work together to improve bitcoin trading and mining.

CONCLUSION

The worldwide web has had a significant and ongoing influence on our daily lives. The internet will become even more scalable and vastly more involved in our daily lives as we go toward Web 3.0 and the technology that supports it.

The Web 3.0 system’s decentralized blockchain layer will make it possible to connect to a network where they may own and secure their data. As a result, users will have a more personalized and customized surfing experience, as well as a more equitable online.

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