Web 3.0 Is A Decentralized Internet That Will Encourage Communities

The internet is changing.

And we are moving to Web 3.0.

Wait, we're already at Web 2.0?

A brief history of the web

Web 1.0 was known as the Static Web. It was a premature version of the internet where it was text only. Users could only use it to read text.

Web 2.0 was known as the Social Web. It was a lot more interactive. Users could comment on posts, share things, and even chat with each other.

Web 3.0 is known as the Decentralized Web.

What is Web 3.0?

Web 3.0 is decentralized.

There is no need for a central entity that owns all the information that can be hacked into (like Equifax). Transactions will be done "peer-to-peer" with no fee-collecting middleman.

Web 3.0 is more private.

Every user is in control of their own data. They can decide who they want to share information with on the internet.

Web 3.0 uses AI.

With an increase of available technology and data (Internet of Things), AI will play a critical role in organizing information for people.

How will it work?

Instead of using one big centralized server (like Google), there will be many different decentralized servers all over the world.

Each one will be run by its own community of users.

When you want to search for something, your search will go to all of these servers. They will each process your search and only show the best results back to you.

Now you might think that's a lot of information. But that's where AI comes in to better organize it all.

The best part? You control who you share your personal data with.

Companies Highlights:

BitClout: decentralized social network

Sia: decentralized storage

Brave: decentralized advertising

Shiftnrg: decentralized cloud-hosting

MakerDAO: decentralized credit service

Aragon: DAO tooling

Chainlink: smart contracts for decentralized products

We predict that...

1. The Internet of Things will continue to grow. Technology will be available everywhere, blurring the lines between the physical and digital world.
2. The issues around censorship will diminish because every server is run by its own community of users.
3. There will be an increase in DAOs (Decentralized Autonomous Organizations). These will be the new decentralized alternatives to modern day companies. Decisions will be made by the community of users.
4. Advertising will change. User data will be private so it will be harder to target them. And AI will get better at delivering relevant information.
5. No more central entities with high take rates (think music labels taking most of the revenue from musicians). More money will go directly to creators.

3 Web 3.0 Opportunities:

1. Build a decentralized application (dApp)

‍dApps are like regular apps but they are decentralized. They are open-sourced and run on a peer-to-peer network like the blockchain. They are being created to support the Decentralized Web. There are many dApps already for areas like payments, logins, art, gaming, etc.

2. Create decentralized autonomous organizations (DAO)

‍Build the future versions of modern organizations. What does a decentralized Facebook or Google look like? What will these DAOs need to operate effectively?

3. Decentralized Infrastructure‍

What are the infrastructures needed for a Web 3.0 world? There has to be an effective way for communities to make decisions. People will need a way to easily share their private data. How will information freely flow from the vast number of servers? And what about security?

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