What Is Web 3.0? Everything You Need to Know

Web 3.0, also known as the "decentralised web," is the next stage in the evolution of the World Wide Web. Unlike the current web (Web 2.0), which is primarily based on centralised platforms owned by large corporations, Web 3.0 aims to create a more open internet that empowers users and allows for greater privacy, security, and control.

The core technology behind Web 3.0 is blockchain, a decentralised and distributed ledger technology that allows for secure, transparent, and tamper-proof transactions and interactions. Web 3.0 also incorporates other emerging technologies such as artificial intelligence, machine learning, and the Internet of Things (IoT).

To gain an in-depth understanding of Web 3.0, one can pursue a B.Tech or a BCA Degree in Blockchain Technology.  Web 3.0 is a key component of the blockchain ecosystem, and understanding its concepts and applications is important for understanding the current top new technology trends. 

What is Web 3.0? 

To define Web 3.0 we can say that it is a new version of the internet that uses blockchain technology to create decentralised applications and networks that operate without the need for intermediaries or centralised servers. This means that users have more control over their personal data and can interact with each other in a more secure and private manner.

Imagine a decentralised social media platform built on blockchain technology. On this platform, users have complete control over their personal data and can choose which data to share with whom. Unlike traditional social media platforms, where the user's data is owned and controlled by the platform, this decentralised platform stores the user's data on a distributed ledger, making it more secure and tamper-proof.

What is Web 2.0?

Web 2.0 refers to the second generation of the World Wide Web, which introduced a more interactive and collaborative internet experience for users.

In simple words, Web 2.0 is a version of the internet that enabled users to interact with websites in a more dynamic and engaging way. It introduced features such as social media platforms, video-sharing sites, and web-based applications that allowed users to create and share content, communicate with others, and collaborate on projects.

Some of the key characteristics of Web 2.0 include user-generated content, social media, multimedia, interactivity, and collaboration. This version of the internet is still in use today, but it is expected that Web 3.0 is going to replace it as it is a decentralised alternative. 

Features of Web 3.0 

Web 3.0, also known as the Semantic Web, is the next generation of the internet. It is envisioned as a more intelligent version of the current web. Here are some of the key features of Web 3.0 technology:

1. It is designed to be more decentralised than the current web. Decentralisation means that there is no central authority controlling the internet, but rather it is run by a network of users.
2. It aims to create a more connected internet where information can be shared seamlessly across different platforms and devices.
3. The Semantic Web is a key component of Web 3.0, which aims to add meaning to the content on the internet. This will enable computers to understand and interpret the content of web pages, making it easier for people to find what they're looking for.
4. With Web 3.0, artificial intelligence will play a more significant role in the way we interact with the internet. This includes intelligent agents that can help us find the information we need and personalised content.
5. Blockchain technology will be a fundamental part of Web 3.0, enabling secure, decentralised transactions and interactions.
6. Web 3.0 will be more personalised than the current web, with websites and services tailored to individual users based on their preferences and behaviour.
7. Virtual reality and augmented reality will become more integrated into the internet, providing more immersive experiences and new opportunities for interaction and commerce.

Difference between Web 1.0, Web 2.0 and Web 3.0

Web 1.0, Web 2.0, and Web 3.0 are different stages of the evolution of the internet. Here are some of the key differences between them:

Web 1.0	Web 2.0	Web 3.0
Web 1.0, also known as the static web, was the first version of the internet that emerged in the early 1990s.	Web 2.0, also known as the social web, emerged in the mid-2000s.	Web 3.0, also known as the semantic web or the decentralised web, is the next stage in the evolution of the internet.
It was characterised by static web pages, basic HTML, and limited user interaction.	It was characterised by dynamic, interactive web pages, user-generated content, and social networking.	It aims to create more intelligent, connected, and decentralised web, where data is machine-readable, transactions are secure and transparent, and artificial intelligence plays a more significant role in the way we interact with the internet.
Websites were primarily used to provide information to users, and there was little to no interactivity or user-generated content.	Web 2.0 applications, such as Facebook, YouTube, and Twitter, enabled users to share content, collaborate, and communicate with each other in new and innovative ways.	Web 3.0 applications, such as decentralised finance, blockchain-based social networks, and smart contracts, are designed to provide a more open, transparent, and collaborative internet ecosystem.
Web 1.0 was focused on information dissemination.	Web 2.0 was focused on user-generated content and social networking.	Web 3.0 is focused on decentralisation, machine readability, and artificial intelligence.

Layers of Web 3.0 

Web 3.0 is a complex and multifaceted concept that can be broken down into several layers. Here are the layers of Web 3.0:

• Physical Layer: This layer includes the physical infrastructure that supports the internet, such as servers, routers, and data centres.
• Data Layer: This layer includes the data and information that is stored on the internet, including text, images, audio, and video content. The data layer of Web 3.0 is characterised by machine readability, interoperability, and semantic meaning.
• Protocol Layer: This layer includes the protocols and standards that govern the transfer and exchange of data on the internet, such as HTTP, TCP/IP, and blockchain protocols like Ethereum and Polkadot.
• Application Layer: This layer includes the applications and services that are built on top of the internet infrastructure and data layer. Web 3.0 applications are designed to be decentralised, interoperable, and autonomous, and often use blockchain technology, smart contracts, and decentralised data storage solutions.
• Social Layer: This layer includes the social networks, communities, and user-generated content that is created on the internet. In Web 3.0, social networks are designed to be decentralised and user-owned, allowing users to control their data and connect with each other in new and innovative ways.
• Semantic Layer: This layer includes the semantic web technologies and standards that enable machines to understand the meaning of data on the internet. This includes the use of ontologies, metadata, and natural language processing to create more intelligent and personalised internet experiences.

How does Web 3.0 Work? 

Here’s an idea of how web 3.0 works with the help of an example and in the context of a decentralised social network. 

Let's say you want to join a decentralised social network called "SocialChain" that uses Web 3.0 technologies. Here's how the process might work:

1. You download a Web 3.0-enabled browser, such as the Brave browser or the Metamask browser extension.
2. You create a new account on SocialChain using your Web 3.0 browser. Instead of creating a traditional username and password, you create a cryptographic key pair (public and private keys) that will be used to securely sign in to the network and control your data.
3. Once you've created your account, you can start to interact with other users on SocialChain. Because the network is decentralised, there are no intermediaries or central servers that control your data or interactions.
4. You can share photos, messages, and other content with your friends on SocialChain, and you can control who sees your content using your cryptographic key pair. Because your data is stored on a decentralised network (such as IPFS), it is more secure and resistant to censorship or hacking.
5. If you want to monetise your content on SocialChain, you can use Web 3.0-enabled cryptocurrency wallets such as MetaMask to send and receive payments directly on the network, without intermediaries or fees.
6. As SocialChain is decentralised, it is more resilient to attacks or failures, and there is no single point of control or failure. This means that you can trust the network to protect your data and interactions.

Applications of Web 3.0

Web 3.0 encompasses a wide range of technologies, protocols, and applications. Here are some of the key applications of Web 3.0:

1. Decentralised Finance (DeFi): DeFi is a rapidly growing area of Web 3.0 that enables users to transact and trade financial assets without intermediaries. DeFi applications use blockchain technology and smart contracts to create decentralised financial instruments such as loans, stablecoins, and derivatives.
2. Decentralised Social Networks: Decentralised social networks are another area of Web 3.0 that is gaining popularity. These networks are designed to be user-owned and controlled, meaning that users control their data and can interact with each other in a more secure and private way.
3. Internet of Things (IoT): Web 3.0 also has applications in the Internet of Things (IoT), which refers to the network of devices and sensors that are connected to the internet. Web 3.0 technologies can help to create more secure and interoperable IoT devices, and enable more efficient and autonomous machine-to-machine communication.
4. Decentralised Marketplaces: Decentralised marketplaces are another area of Web 3.0 that is gaining traction. These marketplaces use blockchain technology and smart contracts to enable users to buy and sell goods and services without intermediaries, reducing transaction costs and increasing security and transparency.
5. Digital Identity: Web 3.0 technologies can also be used to create more secure and decentralised digital identity systems. These systems use blockchain technology and cryptography to enable users to control their own identity data and share it securely and selectively with others.

Job Prospects and Salary Stats after BCA with specialisation in Web 3.0 

Bachelor in Computer Applications (BCA) is a three-year undergraduate program which admits students who have passed 12th standard with mathematics as a compulsory subject. Web 3.0 is a rapidly evolving field that encompasses a wide range of technologies and applications. Here are some potential job prospects in Web 3.0:

Job Profile	Role	Average Salary
Decentralised Application (dApp) Developer	As a dApp developer, you will be responsible for creating decentralised applications that run on blockchain technology and other decentralised networks.  This involves programming smart contracts, developing user interfaces, and testing and deploying applications.	The average salary for a dApp developer in India is around INR 6-10 lakhs per annum.
Blockchain Architect	As a blockchain architect, you will be responsible for designing and implementing blockchain networks and protocols that are secure, scalable, and efficient. This involves understanding the underlying technology and developing solutions that meet specific business needs.	The average salary for a blockchain architect in India is around INR 10-20 lakhs per annum.
Decentralised Finance (DeFi) Specialist:	As a DeFi specialist, you will be responsible for developing and implementing financial applications that run on blockchain technology and other decentralised networks. This involves understanding the underlying technology, financial instruments, and regulations, and developing solutions that meet specific business needs.	The average salary for a DeFi specialist in India is around INR 8-15 lakhs per annum.
Smart Contract Developer	As a smart contract developer, you will be responsible for programming and testing smart contracts that run on blockchain technology and other decentralised networks. This involves understanding that the underlying technology, developing secure and efficient code, and testing and deploying contracts.	The average salary for a smart contract developer in India is around INR 6-12 lakhs per annum.

Overall, Web 3.0 offers a wide range of job prospects for individuals with the relevant skills and experience, with salaries ranging from entry-level positions to senior-level roles depending on the expertise and experience of the candidate. In the near future, it can be one of the best-paying jobs in technology. 

Conclusion 

Web 3.0 is an emerging technology which will prosper in the coming years and will provide a range of good working opportunities to students who are interested in blockchain technology. Sunstone can help you build a top-class career in this field via its powered institutions which offer academic excellence. Not only this, students are guaranteed career guidance from IT professionals (Ex- IITians) to gain useful insights into the industry. With Sunstone, you can engage in hands-on learning through various capstone projects every semester. 

FAQ- Web 3.0

What is Web3 used for?

Web3 is used for creating decentralised applications (dApps) that run on blockchain technology and other decentralised networks, providing a more secure and transparent user experience.

Who is the founder of Web3?

Web3 is not founded by a single person, but rather it is a term used to describe a set of decentralised technologies and standards. The development of Web3 is a collaborative effort among various individuals and organisations working together to build the infrastructure and applications needed for a more decentralised internet.

Who will use Web3?

Web 3.0 will be used by individuals and organisations who want to take advantage of decentralised technologies to create more secure and transparent systems. This includes developers, entrepreneurs, and communities who are interested in building decentralised applications, decentralised finance solutions, and other innovative solutions that leverage the power of decentralised networks.