Understanding Web 3.0

Here’s all about the basic understanding of Web 3.0 including what it means, why its meaning is subjective and some popular Web 3.0 trends.

 

 

 

 

Web 3.0 is a term that you must have been reading about more and more in recent months, especially if you’ve been reading on topics like cryptocurrency, blockchain and the future of the internet.

 

What is Web 3.0?

Web 3.0 is considered the next phase, successor to Web 2.0, which is the current phase. As we move towards Web 3.0, one major trend is anticipated to be is decentralisation. This is basically a concept that takes power and/or control away from a single person or body, and gives it to the masses.

A perfect example of this is cryptocurrency, which is essentially decentralised currency that is not governed or monitored by a single government, but rather operated and managed by the people minting and using it in a simultaneous process.

The whole point of the decentralisation element in Web 3.0 is considered by many to be bringing the control back to users, instead of the creators.

The next big element of Web 3.0 is blockchain which is the backbone of cryptocurrency. It is also important to how ownerships of digital assets will be verified and validated in the years to come.