Introduction to Web 3.0

The web, as we know it today, is a significant part of our lives. Many people use the web daily for various tasks, with even the simplest act of searching on Google falling under its usage. Now, imagine searching for private information or content you'd rather keep hidden. Let's be honest; no one wants their search history to be public. In this case, you might not have considered where all your data is going, or if you did, you probably thought, "It's Google, such a colossal company; why would it need the data of someone like me, a nobody?" Excuse my bluntness, but that's the reality today. Most of us undervalue our own data, thinking that companies like Google wouldn't bother with the data of ordinary individuals.

The truth is, while Google may not care about your daily searches or the color of the hoodie you searched for, other companies, such as Amazon, would care if you're interested in buying a hoodie in the short term. Any startup or business selling clothing would be interested because someone who has actively searched for a product is more likely to make a purchase than someone who hasn't made the effort to search.

Google provides excellent services, acting as your guide on the internet, striving to give you the best possible results for your needs. However, have you ever wondered how they can provide these services for free? The answer lies in your data; it's the product they sell to other companies, and Google is not the only one doing it. Ever noticed how you get ads on YouTube related to your recent Google search? The web, particularly the web 2.0 we use today, offers us less control over the data we generate daily. Although it might not be used against us, the idea of our data floating on servers without our control is uncomfortable.

Web 3.0 enters the scene as a solution, aiming for true decentralisation and giving you complete control over your data. In this environment, your data is not under central authorities; you own it, know where it is, and have full control. This aspect excites me about web 3.0. I foresee the future where both web 2.0 and web 3.0 services coexist, offering users the choice to use and surf the web in a decentralised manner. Web 3.0 utilises blockchain technology and cryptography, representing an exciting evolution of the web. While it is still in its early stages, there is a need for significant development in this domain, addressing various issues. Nevertheless, I believe web 3.0 is here to stay.

The journey towards web 3.0 began when a person or a group of programmers, known as "Satoshi Nakamoto," released the Bitcoin whitepaper after the 2008 financial collapse. This event served as a wake-up call regarding the drawbacks of centralised authority. Initially introduced as a peer-to-peer electronic cash system, Bitcoin struggled to gain traction and was often associated with shady online transactions. However, over time, people recognised its value, seeing it as a form of digital gold. While delving into the technicalities is beyond the scope of this article, it's essential to highlight key advantages of decentralisation:

1. Complete ownership of your data.

2. Near impossibility of hacking a blockchain network.

3. Promotion of free speech.

4. A network for the people, run by the people, and serving the people.

These factors contribute to my optimism about the long-term prospects of web 3.0. Feel free to share your views in the comments, and thank you for reading; I hope you found the article enjoyable.