When talking about Web 3.0, one cannot ignore the enormous potential of blockchain and cryptocurrencies. Decentralized networks are successfully creating incentives for more responsible ownership, data management and content creation. Among the most important aspects for Web 3.0 are:
- Digital cryptocurrency wallets. Any user can create a wallet and make transactions using it as a digital signature. This eliminates the need to store data or create an account with a centralized service provider. The user gets full control over the wallet and can use the same wallet in multiple blockchains.
- Decentralization. Open distribution of information and power to multiple people using blockchain. This contrasts with Web 2.0, where large tech giants dominate many areas of our online lives.
- Digital Economy. The ability to own data on the blockchain and use decentralized transactions creates a new digital economy. This makes it easy to use and trade goods, services and content online without specifying banking or personal details. This openness improves access to financial services and helps users earn money.
- Interoperability. Networked DApps and data are becoming increasingly interoperable. Blockchains built with the Ethereum Virtual Machine can easily support each other’s DApps, wallets, and tokens. This contributes to the ubiquity needed to unify Web 3.0.
Web 3.0 utilization
Although the Web 3.0 generation is still in development, we have a few examples of how its features are being utilized:
Siri and Alexa voice assistants
Both Apple’s Siri and Amazon’s Alexa are voice assistants that fulfill many of the requirements of Web 3.0. AI and live speech processing help these services better understand human voice commands. The more people use Siri and Alexa, the faster their AI and interaction abilities evolve. Such assistants are a perfect example of a semi-intelligent web application from the Web 3.0 world.
Smart homes
One of the key features of Web 3.0 is ubiquity, meaning that data and online services can be accessed from multiple devices. Heating, air conditioning and other utilities can be set up automatically within a smart home. A smart home knows when you leave, return, and what indoor temperature you like. It will be able to use this information and more to provide the best automated service for you. You will be able to control this system right from your phone or other online device.