Blockchain For Web 3.0: Delving Into Distributed Ledgers As The Origin Point For The New Generation Internet

Delving Into Blockchain As The Origin Point For The New Generation Of dApps On Web 3.0

There are a great number of mind-blowing innovations that we can hope to see in the foreseeable future, with one of them being Web 3.0. This concept, at this moment, refers to the collection of next-generation applications that make use of one or more of the newly emergent technologies.

These include the likes of blockchain, Artificial Intelligence, the Internet of Things (IoT), as well as the likes of Augmented and Virtual Reality technology (AR/VR), with technologies making use of them in accompaniment to its stack of technology.

What makes these new kinds of technology so remarkable that they will help to profoundly mold the kind of interactions users will come to have with the web of the future compared to the kind of experience made possible by earlier iterations. But we have a lot of credit to provide to the earlier iterations of the internet, it took us from zero to one, providing us with a ready and plentiful supply of information in a way that was never before seen.

From Web 1.0, the social web evolved out of it, thus becoming what we refer to now as Web 2.0, and involved a number of exceptional advances in the way of portable/mobile based technologies, with the likes of Apple and Google Play. This version of the web snowballed exponentially thanks to the inclusion of social media applications including Facebook, YouTube, and Twitter, as well as a new generation of gaming which now makes up the majority of gamers and revenue.

Now, with the development of ever more next-generation technology, we are starting to move beyond the reaches of Web 2.0, and are now standing on the precipice of what we now refer to as Web 3.0.

So this is where this article comes to the forefront of discussion, as we intend to have these be a series of posts where we will be delving into the innovative and remarkable world of Web 3.0. From venturing into the history and evolution of the internet related to the creation of the internet as we know it right now.

From here, we will have a look into the kind of anatomical make up of what we know as a next generation app, and how exactly blockchain will provide, not only a foundation upon which these apps can truly realize their potential. Finally, We will look into how developers can make a start in building one of these kinds of apps, and placing in on the future web, while making use of cloud and blockchain-integrated platforms.

The Keystone In The Bridge – The Creation

When we use the phrase ‘Keystone‘ we use it in both a bridge, as well as a biological metaphor. A keystone is something that has a dramatically crucial impact on the environment or is a crucial component within a finished structure.

This is a metaphor that goes far beyond just biology or engineering, and we clearly see this in a wide range of our lives, and technology is one of them.

The Arrival Of Web 3.0: Here's How We Got Here

When it comes to the world of marketing, selling the ‘web' to potential buyers is a far easier strategy than what it is otherwise referred to as. That being the concept of a ‘Global system of interconnected computers,' or even the more simplistic phrase ‘world wide web.'

Even though we commonly use the web or ‘web 2.0' as a catch-all phrase for the internet that we make use of, the phrase ‘Web 3.0' is one that has been a work in progress for some time, and originally started off as a buzz-word by the marketer and technologist Tim O'Reilly, and was used as a marketing word for Web 2.0.

Initially, O'Reilly initially used the term ‘Web 2.0' as part of a broader discussion about how there is a significant shift in the generations and technologies applied and used on the web. This phrase then went on to evolve into the buzzword ‘Web 3.0'. While this is a new phrase, it is one that still defies comprehensive definition, and is still subject to a great deal of sharpening up.

So let's begin with taking a look at the beginning, the first version of the web began during the early 90s, which started off as an initiative between scientists at various universities. The underlying objective of this first version was the transfer of information between computers in an attempt to provide inter-collegiate research. What this early version consisted of was an interconnected framework of computers that made use of both TCP/IP as well as HTTP-based protocols online.

This is what took us from web 0 to the very first version – Web 1.0, and it allowed us to have a first taste of frictionless communication and exchange of information in a way that was never before seen. It is at this period of time that the system of communication was relatively rudimentary compared to what we're used to now – with Web 1.0 only allowing for simplistic one-way communication.

It is during this period of time that we have our first generation of internet service providers such as AOL, Yahoo, and Netscape began to emerge and flourish in an age where information was steadily rising, and third-party providers were starting to see ever feverish demand.

With this demand came a far greater level of speculation about just how far the technology could go, and how the technology itself would lead to the emergence of and cause of the dot-com investment boom and crash over the mid and late 1990s. It was because of this boom and bust cycle that we saw the recession of 2000/1, which caused a catastrophic crash of a wide number of companies within the NASDAQ index, causing many to fall by as much as 75 percent.

While this would have been enough to set the clock back to zero, a number of platforms became heavily involved in the creation and support for a newer system of communication online, what we now refer to as a bi-directional flow of information. It was during this period of time that we saw the beginning of Web 2.0, otherwise known as the Social Web on account of the emergence of social media applications.

Web 2.0 is the internet that many of us are more acquainted with, with websites like Wikipedia, Google, Twitter and Facebook allowing for interconnectivity of users. As well as online marketplaces like Ebay and Amazon connecting a wide range of buyers and sellers on an international level, and professional social networking such as LinkedIn which allows for professionals and entrepreneurs from all over the world to connect and interact.

With the maturing of technology becoming ever more significant and far faster than previously anticipated, the concept of what the future Web will look like is constantly put under re-evaluation. This is one of the underlying reasons why the notion of Web 3.0 remains consigned to blueprints, simply because we, as of yet, have no clear understanding for what the future Web 3.0 will actually look like.

Even though we are not able to fully map out what it will look like, we can at least make some educated theories around what will be a convergence of the emerging technology that we're seeing right now which will make up major components of the future Web.

  • With the advent of Augmented and Virtual Reality, as well as the continued strides being made in high-quality 3-dimensional graphics and rendering, the underlying interface that people will use in Web 3.0 may come to blend and seamlessly merge with the physical world that we perceive daily. This means that there will be a very real blurring of lines between the physical and virtual worlds while allowing for the rendering of physical objects in our digital world, and vice versa.
  • The constant evolution of platforms and devices which operate on our Internet of Things are continuing to run on an ever increasingly advanced lineage of digital network solutions, as we've seen with 3G and now 5G networks. The internet of the future will be amply available through a range of computer interfaces of physical objects, providing easy and rapid access to the web. From Watches, cars to drones, many of our household appliances and items that we need or want to have internet access will become a conduit for just that. We may even see the beginning of neural interfacing, as intellectuals and entrepreneurs have envisioned.
  • Artificial Intelligence has also come along leaps and bounds from the beginning of the 2000s, allowing computers to process countless numbers of tasks at different depths of sophistication. Examples of this that we have seen is the constant evolution in sophistication of AI solutions in the world of marketing and retail with speech to text applications and chatbot solutions. This goes all the way into the use of machine learning and artificial intelligence solutions such as IBM's Jeeves and other learning algorithms which are able to extract and make use of structured and unstructured data to predict user choices.
  • With blockchain technology, we will see an ever increasing level of decentralization within the act of computing within the web. This is thanks to the use of exchanges of information through peer-to-peer transactions . as opposed to making use of third-party server farms which operate as a middleman exacting information-based tolls from the various users of its services.
  • Through the use of platforms, decentralized or otherwise, consumers and producers on the web will be able to take advantage of the various network effects that are possible. Through the application of various technology solutions and platforms such as blockchain and cloud computing will allow for a continuous scaling of support for a rapidly growing number of users, developers and applications.

So, Where Are We At The Moment? The Roadmap Right Now As We Head Towards Web 3.0

There are plenty of pioneering projects, companies, and individuals out there that are still pushing forward with various innovations that will come to be the components of the future iteration of the Web. If anything, we already see a number of these pieces of technology making up major components of the web that we currently use right now.

From the machine learning and artificial intelligence solutions like Apple's Siri, Google, and Amazon's Alexa, these products make use of innovative and continuously evolving machine learning algorithms. AI, on its own, is gaining a remarkable pace when it comes to how it is being applied in modern applications.

When we think of the Internet of Things, we're often drawn to look to the future, and what it will look like when in reality, we are seeing an ever-increasing number of internet-connected devices right now. From watches to cars to the phones we hold in our hands, they offer seamless connection to the internet, and it goes to show just how far we're coming along in the integration of IoT solutions even now.

This is not even taking into consideration the application of things like blockchain technology and the cryptocurrencies, which are affiliated to them. With the likes of Bitcoin being put to work as anything from a digital store of value, to a cross-border payment solution. Another way in which blockchain is revolutionizing the web is through its use as a digital ledger for tracking supply chains, as we see with IBM Food Trust, and initiatives like these are gaining an exceptional amount of popularity among mainstream companies like Fidelity and Walmart.

Last, but certainly not least, modern developers are working to be on the tip of the innovative spear when it comes to the deployment of apps integrated with some of these components of Web 3.0, as we see from technology platforms like IBM's Cloud as well as its Blockchain Platform.

Get Daily Headlines

Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

What to Know More?

Join Our Telegram Group to Receive Live Updates on The Latest Blockchain & Crypto News From Your Favorite Projects

Join Our Telegram

Stay Up to Date!

Join us on Twitter to Get The Latest Trading Signals, Blockchain News, and Daily Communication with Crypto Users!

Join Our Twitter

Add comment

E-mail is already registered on the site. Please use the Login form or enter another.

You entered an incorrect username or password

Sorry, you must be logged in to post a comment.
Bitcoin Exchange Guide