This article deconstructs the idea of Web3.0 in a way accessible to beginners.

Third generation Internet is another name for WEB3.0.

The development of the Web:

Having developed from Web1.0, which was centered on structure, solely for the Creators, and existed from 1994 to 2001. Emails and simple HTML were the main topics. The current Web, or Web2.0, which we use on a daily basis, made a place for responsiveness and allowed everyone to become a Creator. Participatory and centralized are its characteristics. The emphasis is on engaging, exciting content.

We now understand that decentralization is the primary distinction between Web2.0 and Web3.0.

WEB3.0 is described as follows:

The third iteration of the Internet, known as Web3.0, will use machine learning to create data-driven and semantic technology. Decentralized, private, and secure user-centricity is the primary goal. The issues with data, storage, centralization, and Web hosting for Web 3.0 will be resolved.

The next phase of the Internet's development, known as WEB3.0, uses blockchain and artificial intelligence to make the Web more seamless. Instead of arbitrary central authority, web3.0 relies on distributed consensus.

Web3.0 characteristics

-Decentralization: Blockchain will make it possible for data to be distributed, which will promote trust. It will be preserved in numerous places so that everyone may access it.

-People will be able to interact directly without the need for any trusted middlemen if a system is trustworthy and permissionless. You don't have to consent to cookies or provide any data, for instance, in order to access information.

-Artificial intelligence and machine learning will allow computers to comprehend information similarly to how people do. IOT will make it possible for people to connect from any location.

Existing Web 3.0 applications include:

-Non-fungible Tokens, or NFTs, are tokens that are kept in a blockchain and are guaranteed to be unique by a cryptographic hash.

-Decentralized finance, or DeFi, is a disruptive technology that allows transactions to be conducted outside of the existing banking system's centralized infrastructure using decentralized Blockchains.

-Cryptocurrencies: One of the web 3.0 applications, cryptocurrency introduces a brand-new financial system that is distinct from traditional fiat money.

-Smart contracts that function on a decentralized computing, Blockchain, or distributed ledger system are used by dApps, or decentralized apps, which are created on top of Blockchain.

-DAOs are poised to potentially take on the role of Web3.0's governing bodies, offering some structure and decentralized governance. This brief introduction to the world of Web 3.0 is intended to be clear and comprehensive.