The iteration of the World Wide Web has brought several advantages over a period of time. We’ve witnessed how the web has inclined from static websites to dynamic websites. Several web versions provided more users to engage with, and now all businesses exist on the web. After the evolution of Web3, it has changed the entire scenario of the internet and how users use to interact. Web3 technology has changed how we have been interacting with the web.
Web3 technology has given full rights to the user to communicate and deal with the web. Businesses are most profitable since everything is available on a single platform. Web3 has become the mother of many technologies like Blockchain, NFT, Metaverse, and IoT. Development on these platforms has brought many conventional platforms to rejoice more customers, businesses, and profits.
What Is Web3 Development?
Web3 technology is the successor of Web2 and Web1, commonly known as the 3rd generation of the internet. It focuses on a high level of security that is based on decentralization. Generally, Web3 design, develop and deploy decentralized protocols.
Web3 platforms are run on blockchain technology, a decentralized network, or a combination of both, like crypto-economics. These apps are generally called dApps(decentralized apps). It helps users to have control over their data. The best part of web3 is that it can provide a completely user-friendly environment and a high level of security.
One of the best things about the Web3 platform is that there is no single control. It works completely on a decentralized network that enables an authority to be distributed among all the users. This property makes it almost impossible for one user to get control over content or data. Web3 has a high value that can change how the internet will be more secure and decentralized.
How Does Web3 Work?
Web3 is a platform that deploys the interactiveness feature from web2 and the decentralization feature from web1. This combination brings a completely user-friendly environment that is essential to meet the modern age norms. It allows all the users to control their presence and increases a high level of security. It also adopts technologies like artificial intelligence, machine learning, and big data that can perceive how an end user will react, interact, and respond online. Web3 plays a great role in ensuring user data that should not be manipulated or interpreted by any means. Usually, platforms like Facebook and Google can collect your data online, such as your search terms, interests, or watching over your activities. These companies monetize these data purposely and sell these to companies. Bringing platforms as such that can eliminate such redundancy and able deal with the unwanted data manipulation, web3 has evolved many technologies because user security and privacy are the major concerns of web3.
Features Of Web3
Web3 has a lot of features that can help businesses. It can change the entire scenario of how the web platforms are doing. Let’s discuss some of the features Web3 has:
Decentralization
Decentralization is the best feature of the Web3 platform. It helps to have control over the content in a decentralized manner. Web3 integrated decentralized technology allows users to have control over their data. Many networks, web platforms, and peer-to-peer networks are widely distributed among millions of nodes located at different locations. Web3 can help build a platform that allows content creators to sell their content over various platforms.
Third-Party Elimination & Permissionless
This feature allows users to communicate in person or public without having an intermediary body causing any risk. In other words, it means a user can communicate with others without having a third party. This end-to-end conversation model will build trust on the Web3-based platform.
Web3 allows anyone with an internet connection to join the network. This technology allows them to perform transactions and save data. There will be no introduction to a third party or a single entity restriction access.
However, you can ask a web3 development company about the details of web3 development platforms. It will help you realize the facts and figures as well as the web3 software development cost.
Artificial Intelligence, Machine Learning, & Big Data
Artificial intelligence, machine learning, and big data have created web3 applications more efficiently. The use of machine learning has made the web3 algorithm perform more accurately and effectively. These technologies have helped web3 platforms process content like audio, video, pictures, and text more easily, allowing information integration.
Artificial intelligence, however, would ensure the separation of useless information and eliminate fake data. AI will help forecast client demand and provide a secure personalized service that is good for businesses. Different platforms have specific requirements, and a Web3 development company can help you understand your requirements and how effectively they can develop a web3 platform for you.
Connectivity & Inclusivity
This is another great feature a web3 technology can offer you. This feature will help you connect ubiquitously to interact to a higher standard. Web3 platforms provide working in a fast network, making it easy to do all the processes rapidly and efficiently, finishing any task quicker. Plenty of apps are out there that can help Web3 platforms analyze numerous data, devices, and products capable of delivering smarter lives.
Web3 Platforms In Different Industries
Social Media Network
Social media networks combine several websites and apps commonly used by everyone from different perspectives. It has the strength to change the way we communicate, interact, and share information with each other. Web3 has changed the overall structure of social media applications developed by an app development company. Web3 controls how the data will flow and be used among the different platforms. Web3 deployment has several advantages over social media platforms:
Benefits Of Web3 Development
- No centralized authority is given access to capture data
- Rewarding end users
- High security & maintaining the privacy
- Nobody can impersonate
Currency Exchange
An attempt to offer currency exchange by a centralized system was witnessed in February 2014. Hackers were able to steal bitcoin worth $460 million. It persuaded Web3 platforms to introduce a decentralized exchange system that will be able to provide seamless currency exchange within the system, eliminating any chances of hacking or backdoors.
Benefits of Web3 Currency Exchange Platforms
- Cost and time-efficient transactions
- No backdoors
- Smooth operable digital wallets
- Full control of over user’s asset
Data Storage Platforms
Most of the data, we have as a user store in Google Drive and iCloud. But in business, data storage becomes one of the prominent subjects because it carries business. Until now, a centralized system has followed the data storage mechanism. It means our personal data and interactions can be used or manipulated for business purposes. The data can be sold to businesses which can be used to identify new customers for a specific marketplace. The solution to this problem is a decentralized system that delivers encrypted files and data sharing peer-to-peer networks. It means data will not be stored in a single place but rather on multiple nodes.
Benefits Of Data Storage
- Works efficiently across blockchain platforms
- The centralized attribute is missing
- Works effectively
- Strong encryption to protect the data
- Seamless experience with new technologies
Messaging Platforms
When we think about messages, our mind only revolves around Facebook Messenger and WhatsApp. But messages can have different meanings as well. Slack & Telegram has to turn out to be professional messaging Apps. The current centralized system has several drawbacks, like insecure transmission of messaging and too much reliability on a centralized network. It often brings messaging platforms into trouble. Hacking activities and personal data theft are two primary reasons for that.
Solutions to such issues can be found in Web3 apps like ySign, e-Chat, Obsidian, etc., which are operated by blockchain technology, which strictly takes care of the security and privacy of the user’s data.
Benefits Of Web3-driven Messaging Platforms
- Secure & fast transactions
- Exchanging assets with a secure method
- Full proof privacy
- Incapability to use the data
Conclusion
Web3 technology has immense power to change the way our traditional businesses are doing. Many new platforms can be developed with the help of web3 to meet modern-age solutions. Seeing the strength and potential of Web3, several new technologies have come into existence to develop next-gen platforms. Web3 technology is capable enough to deliver high-end solutions for almost every industry.
The limitless and omnipresent characteristics of Web3 have persuaded the sphere to get along since many industries are already watching the sudden change in their business statistics. Web3 technology is the root cause of the development of many technologies like blockchain, NFT, Crypto, Metaverse, and many more. Words of mouth, all businesses are after web3, and it is the best time to uplift yourself with cutting-edge solutions. Demand for a Web3 development company is getting higher, and this is the perfect time to look forward and shift your traditional platform to next-gen solutions.
