Blockchain: A tunnel to WEB 3.0

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The World Wide Web also called the WWW and the Web 1.0, was launched back in August 1991. It was a collection of static web-pages with a heap of data and information but had no user-interactive content. Technology evolution introduced Web 2.0 in 1999 developed by Darcy DiNucci. Web 2.0 wasn’t tied in with watching information any longer, but it was increasingly about participating in creating an information pool. Worldwide data sharing websites came into existence and gained popularity.

However, an excessive number of users utilizing Web 2.0 ushered in an enigmatic amount of information/ data floating around the web. Thus, companies started accumulating large data in servers. This brought in new trouble of data security where a few news reports even suggested that data from centralized servers were being sold to companies.

Web 2.0 was now in need of better privacy management. One popular effort that came through and took the world by storm is the blockchain credited to be designed by a person named Satoshi Nakamoto. The blockchain is a public ledger for an electronic currency or cryptocurrency known as Bitcoin.

While there are several such currencies available today, Bitcoin kickstarted the cryptocurrency industry using decentralization as the main scheme and blockchain as the method ushering in Web 3.0. This Web 3.0 is the reverse of Web 2.0; it is about more security and various centers sharing incentives over an open system rather than the monopoly of big companies.

The freedom associated with the blockchain method witnessed a sudden growth in product implementation as well as patent filing, where the horizon of patents was not limited to cryptocurrency only. Various applications such as US20170232300A1 suggest that companies are adopting blockchain as a key feature to be implemented in the smartphone to transform the conventional way of browsing Web.

There are several advantages offered by Web 3.0 which can be accomplished by leveraging the blockchain method:

Data Ownership: As blockchain is a decentralized technology, users will have complete control of information/ data, rather than allow the monopoly of data or information holding by big companies.

Reduction in data loss and hack: As data is not centralized but spread through a geographic or global leader, it is difficult for hackers to steal information.

DOS reduction: Blockchain is decentralized, which translates into fewer DOS attacks.

Considering the blockchain methodology, significant changes will be visible more towards the back-end as every blockchain transaction is signed and verified manually by members to prevent data leak.

Blockchain by social media networks

The blockchain isn’t restricted to monetary transactions alone. Over recent years, social media networks have begun using blockchain technology to reward its users for sharing quality content via their platform. Patent application US20180225693A1 and a product named Steemit is a bright example of how blockchain will help conventional applications transform from Web 2.0 to Web 3.0.

Though there is still a lot of time for Web 3.0 to be integrated with the currently operating online system. However, the blockchain has already set the wheels of transformation from Web 2.0 to Web 3.0 into motion.

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Saurabh Joshi
Saurabh Joshi

Saurabh is a computer science engineer, he is keen on reading and researching on new technologies. His true passion lies in exploring new gadgets and watching sci-fi movies.

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