Intro to Web 3.0

Web 3.0

The third generation of the Internet is the current phase of development that is beginning to take hold.

It aims to solve the limitations of previous versions and much more: to provide ways of interacting and using information, which increases possibilities, improves privacy, and creates countless opportunities.

It will work in a more structured way, facilitating the process of extracting information from different sources and in a truly decentralized and P2P way, when there is no control of any large company or central server intermediating transactions or other types of interaction between users, decentralizing the storage of data.

Semantic Web

Web 3.0, also known as the Semantic Web, is the next stage of the web, where there will be interoperability, data privacy, artificial intelligence and machine learning.

It will be possible to intelligently generate and distribute useful content tailored to a user’s particular need.

The role of blockchains

Bitcoin is one of the symbols of the effective emergence of the new version of the internet, because it allowed, for the first time, the sending of value over the internet without the need for any central figure that validates transactions, being a digital and sparse alternative to the current monetary system.

Moreover, blockchain will be a fundamental piece in the construction of this new generation of the web, enabling a new relationship between user and internet.

Thanks to the decentralized and distributed nature of the blockchain, Web 3.0 allows for a freer yet secure version of the internet, where users can own their own data and use it as they see fit.

With solutions such as self-sovereign identity, people will again have access to their data, which will be encrypted, and can choose with whom or when to share it.

The role of blockchain in building Web 3.0
The new user/internet relationship will be made possible by blockchain. However, like any new technology, it is constantly being improved and will still evolve a lot.

Ethereum is certainly a great icon in this segment, as it allows the creation of decentralized applications that we would never have imagined. Behind it, many brilliant minds are working on its development and many have also contributed to its existence.

Web3 Foundation

It is a non-profit organization that created Polkadot, the main protocol developed by the foundation.

It was created to cultivate and encourage decentralized technologies and applications, contributing to the development of the Web 3.0 ecosystem.

The foundation received 30% of the funds from the token offerings and oversees the allocation of these funds to promote the development of Polkadot.