People keep asking what Web 3.0 is. Maybe when you’ve got an overlay of scalable vector graphics — everything rippling and folding and looking misty — on Web 2.0 and access to a Semantic Web integrated across a huge data space, you’ll have access to an unbelievable data resource…
It is customary for every innovative milestone to soon be replaced by yet another breakthrough. The internet, as we know it, is no exception to this rule. More than three decades after the inception of the world wide web, the world is getting ready for Web 3.0. Ripe with the ideologies of democratization, the third generation of web technologies has already piqued the interest of investors and is expected to become an $81.5 billion market by 2030. This paper will talk about the limitations of Web 2.0, how different its successor is, Web 3.0’s benefits, the role of blockchain and IoT, and accelerating adoption.
WEB 3.0: WHAT DO WE KNOW ABOUT IT SO FAR?
One of the biggest hindrances to Web 3.0’s widespread adoption is the cloud of uncertainty that prevails around the ecosystem and perceived usage in developing enterprise applications. From increased internet speed and security risks to having to invest in architecture, numerous concerns exist. While some of these concerns are real, some of them become obsolete once the framework attains a level of maturity.