People are anxiously waiting for the global transition from Web 2.0 to Web 3.0 to take place, which will change the entire structure of the economy, the world of work, business, and the entire society. The new generation of Internet Web 3.0, based on the principles of decentralization of information and resources, can give us even greater freedom. The main instrument of this era will be cryptocurrency. Now it has long since come out of the shadows and is firmly taking its place in all areas of activity.
The new age will take power away from the tech giants and the leading economic factions, and distribute it more evenly among all. We will reach a new level of privacy independence and complete transparency.
Transition difficulties
The transition to a new era is still hampered by some points, in particular, it is necessary to achieve the interoperability of blockchains: the ability to easily and permanently transfer assets from one platform to another from one blockchain. Until this problem is solved it is difficult to talk about a full transition to Web 3.0.
Development history: From Web 1.0 to Web 3.0
The world is not possible without high technology. But once it was different.
It can be argued that the era of Web 1.0 came when the spread of personal computers began in the 1980s. In the 2000s, the era of Web 2.0 came, because it was then that the Internet became a truly massive phenomenon. and since then we can’t imagine the world without blogs, online shops, social networks, etc.
Now comes the amazing era of Web 3.0 – the era of blockchain, smart contracts, cryptocurrencies, and DeFi, which predicts huge changes in the world of high technology and the economy. As previously happened with dot-coms, whose stocks first skyrocketed and then collapsed sharply, many blockchain startups are at risk of being dummies. But the cryptocurrency market itself will continue to grow.
One could argue that the main focus of Web 2.0 is global platform dependency and centralization. Many businesses use social networks, and design programs, for example, Canva, Pixabay, various online payment systems, and platforms.
Once it seemed to us that this era would bring us total freedom. But after all, content can be blocked, the site can be closed, for example, according to political regimes. Gradually society comes to the fact that although this era has brought us great opportunities, centralization limits our freedom.
The new era of Web 3.0 announces its principle of decentralization – independence from political, government, and other structures. no total influence of monopolies.
At the same time, they predict rapid growth in the role of machine learning and AI, which can recommend content, generate text, analyze BigData, create images, and the like.
These trends have a great impact on the entire economy as a whole.
Features of the Web 3.0 economy
The new era of Web 3.0 will bring us global change.
- Cryptocurrency
Cryptocurrency, a decentralized infrastructure, the maintenance of which requires a lot of electricity and computing power, comes to the fore. Big companies will buy up both mining capacities and blockchain startups. Consensus algorithms less vulnerable to centralization will be introduced, as an example: the transition of Ethereum from Proof-of-Work to Proof-of-Stake. But the financial institutions will not be willing to give up their power. The conflict between proponents of centralization and decentralization will flare up.
2. Media platforms
Given the increasing influence of individual economic structures, it will be necessary to find a way to bypass blocking. censorship-resistant shopping and media platforms will be relevant.
3. AI
A significant part of the work will be taken over by artificial intelligence in particular: translating the creation of texts, analytics, creating images, programming, and so on. This global impact will affect the labor market as a whole. Man will compete with the machines. Creativity will be the main field of human activity.
4. Barter deals
Barter deals are predicted, where access to benefits will be based on the social rating of the individual, that is, on his behavior.
5. Internet of things
The things will be marked. For example, you will always be able to understand where one or another of yours is located – in particular, a car.
Such changes will take place in the next 5-10 years.
Decentralized projects
Among the most successful decentralized projects, the attention to which will only grow, we can highlight the following:
Audius (AUDIO)
Decentralized music streaming platform capable of bringing together the interests of different groups of people: artists, fans, and node operators.
BitTorrent (BTT)
It is a decentralized network protocol for cooperative file exchange over the Internet.
NEAR Protocol (NEAR)
It is a decentralized platform. The capitalization of the project is $5.3 billion today.
Basic Attention Token (BAT)
It is a blockchain-based network, aimed at ensuring fairness, security, and effectiveness in digital advertising.
Chainlink (LINK)
A multifunctional platform with its universal cryptocurrency, a decentralized blockchain network on Ethereum.
The era of Web 3.0 has almost arrived, and very soon, we will find ourselves in the very epicenter of fateful events.
