What is Web 3.0 the Decentralized Internet
There is no question that the internet has revolutionized our lives. It has permanently changed the way we communicate, learn, and conduct business. But the web isn’t just a stagnate network of computers either. It’s constantly changing and evolving to accommodate the increasing demands and requirements of new technology.
When the internet was first introduced to the public, the majority of the sites were text-based pages that provided a variety of information. However, it quickly evolved and gave rise to tech giants like Google, Facebook, and Youtube. These simple text websites gave way to media-rich, data-driven websites that provided an entirely new way to see the content. This was the start of Web 2.0.
While Web 2.0 has introduced an astounding amount of advancements and added a considerable amount of ease to our lives, it’s not without repercussions. The current state of the internet is characterized by large corporations collecting and using our data for a variety of purposes. Ads are specifically tailored to our preferences and interests, products and content are suggested based on our data, and websites seem to “know” us despite never having visited it before.
While all of that might seem like a good thing, it’s actually quite the opposite. The “data harvesting” done by megacorporations like Facebook and Google has compromised our security and is quite frankly an invasion of privacy. The data is not only collected but it’s then sold to other companies who use it to sell us more products or cater their message to something we find relatable. These Web 2.0 megacorporations hold a considerable amount of power and influence on the internet in its current state.
Google acts as a gatekeeper, dictating which content is shown and what remains lost in the endless space of the web. Facebook uses its monopoly of social media to collect personal data and information and then sell it to the highest bidder. These internet monopolies have centralized power and essentially disenfranchised users of the right to privacy.
That’s where Web 3.0 comes in.
Blockchain and Decentralization?
Bitcoin has been around since 2006, but it didn’t catch the public eye until recently. Over the last few years, exposure to blockchain and cryptocurrency has continued to grow. Unfortunately, a lot of people still don’t quite understand it and the advantages blockchain has to offer.
Blockchain is just a large database similar to the Cloud where you might store pictures, documents, or videos. However, the big difference between the Cloud and blockchain is the way the data is stored. The Cloud is a centralized database which means the data is stored in one place, most likely a data center run by a company like Microsoft or Amazon.
Blockchain is a decentralized database, meaning the data is stored on a variety of different machines. In the case of Bitcoin, the blockchain is used to store transaction data, and that data is stored on the many different servers currently “mining” the currency. This presents a stark difference to the Cloud when it comes to who has control over the data. In the Cloud example, a single corporation owns the data center and controls all of the data stored within it. Blockchain on the other hand distributes its data throughout the network so there isn’t a single person or entity that controls it.
Web 3.0 utilizes the power of the blockchain to break away from monopolistic companies like Google and Facebook and gives the power back to the individual users. This type of decentralized internet offers countless advantages over its predecessor and ensures the users benefit rather than large corporations.
The third generation of the web focuses on creating a data-driven network that utilizes artificial intelligence and machine-based understanding to create a more user-friendly experience. The ultimate goal of decentralization is to create more intelligent and open websites that give users complete control of their data and information.
Decentralization will be a substantial upgrade over the current state of the internet and will be much more user-centric than what it is today. For example, search results will be data-driven rather than dictated by the highest bidder or based on criteria established by a single company. AI power services will sort through the most relevant content and provide users with what they are looking for.
The transition from Web 1.0 to 2.0 took over ten years to fully implement, and we may be looking at a similar timeline for Web 2.0 to 3.0. Fortunately, the work is well underway and there are many services and platforms that have been built for Web 3.0 that can be used today. Unstoppable Domains (UD) is one of those services.
Unstoppable Domains connects Web 2.0 to Web 3.0 with the use of blockchain domains. Blockchain domains can be used to create a web address that translates to a cryptocurrency wallet address. So instead of having a messy long address consisting of random numbers and letters, you can have a readable name that can be connected to decentralized apps and exchanges.
UD also allows users to create a decentralized website that can be stored on the InterPlantary File System or IPFS for short. Domains purchased through UD are different than those purchased through services like GoDaddy. Services like GoDaddy “rent” the domain to users, meaning you’re on the hook to pay recurring fees for as long as you’d like to hold it. Unstoppable Domains gives you full ownership of the domain so you have complete control of it until you choose to sell or transfer it to another person.
So if you are looking for a way to participate in the future of the internet and own a piece of Web 3.0, then check out Unstoppable Domains and purchase a domain name you can own for life.