Web 3.0 - Are You Ready?
As Web 3.0 becomes the next major era in computing, IT and business leaders should start thinking about structuring their networks and operations to leverage the potential of Web 3.0., companies must prepare for Web 3.0 – from the largest companies to solopreneurs. The key is creating content and data that brings value to other companies and individuals. Users will be able to monetize their data. Are you ready?
Companies will need to embrace the concept of a distributed architecture to increase efficiency and lower latency -- and then select a common fabric that does both routing and switching. There will be new expectations for transparency and policies that can be written once and work across all applications and parts of the network.
What is a Web 3.0 website?
Web 3.0 is the third generation of internet services for websites and applications that will focus on using a machine-based understanding of data to provide a data-driven and Semantic Web. The ultimate goal of Web 3.0 is to create more intelligent, connected, and open websites.
Web3 is meant to conform to specific values. For one thing, it’s decentralized and doesn’t have a central authority that owns all the data and profits from it. Web3 applications are open source. This means that everyone can transparently look at the algorithms and software functions in an app without the possibility of sneaking in back doors.
So, in summary, Web3 is a democratized web-based on an open-source application that gives users complete control of their data and the means to share in the profits generated by their content.
Web3, also referred to as Web 3.0, is the next evolution of the internet. It is expected to be:
Open - Content platforms will be built on open-source software.
Trustless - Network protection will extend to the edge, and everyone will use Zero Trust.
Distributed - Devices, users and services will be able to interact without authorization from a central authority.
In the next phase of the internet, blockchain technology will enable people to interact directly with each other without the need for an intermediary. Users will interact by joining a Decentralized Autonomous Organization (DAO) – a collective entity owned and operated by its community members.
The user's data will be backed by a system of universally accessible smart contracts. These contracts will be coded into a blockchain which will be managed by a decentralized collection of nodes.
Other predictions about Web3 include the following.
Data transfers will be decentralized, and all transactions will be recorded over a blockchain-enabled distributed ledger.
Universally accessible smart contracts will free people from relying on a central authority (such as a bank) to ensure data integrity.
The metaverse will become a big revenue source for the entertainment industry.
Blockchain technology will enable users to create digital items/non-fungible tokens (NFTs) on the fly to protect personally identifiable information (PII) and intellectual property.
Users will be able to monetize their data.
Companies must prepare for Web 3.0 – from the largest companies to solopreneurs. The key is creating content and data that brings value to other companies and individuals.
