The Decentralized Internet (Web 3.0) and Blockchain Technology

 The decentralized internet (Web 3.0) is in its early stage. Here, the ability of humans and machines to interact with data is undeniable. But before this could occur, programs need to understand information both abstractly and contextually. The bases of the ‘new internet’ are semantic web and AI (artificial intelligence).

As the Web 3.0 operation will put through decentralized protocols which is the primary aim of some of the cryptocurrency and blockchain technology, there should be a strong connection and non-parasitic relationship within these three technologies and other aspects.

These protocols bank on the teamwork of their users to achieve a detailed result. It may be, running smart contracts through the Ethereum blockchain decentralized network or running an actual decentralized marketplace for storing data.

Web 3.0 system makes use of cryptographic proofs to assure users that the protocol is reliable. Even though it is decentralized, the network is still dependable. Since the project cannot succeed without its user cooperation, the inventors provide solid incentives for their users’ best interest.

Related: Default Auditing For DeFi Projects Is Important For Growing The Industry

Today Web 2.0 networks extract value one way or the other from their users but, instead of Web 3.0 doing that, it apprehends value by providing opportunities for them.

This new network (web 3.0) is the next phase of web development that will process data and information, run contracts (programs) using an artificial intelligence system. Its storage uses a utility token to ease the exchange of storage services.

Centralized platforms are vulnerable to security breaches and data leakages and, this is a problem decentralized platforms are trying to solve.

Read also: Five (5) Things Decentralized Finance Enthusiast Should Know.

Proof of storage is one of the characteristics of the web 3.0 decentralized platform. It allows users to verify their client data storage since there is no centralized authority to guarantee their storage without alteration. An example of Web 3.0 is filecoin.

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