By Praachi Abrol
With recent developments, the internet has drastically transformed our lives. According to Statista, India is the second-largest internet market, with over 900 million users. The report further estimated that the number is expected to increase by 1.5 billion by 2040. Our preferred method of daily contact has resulted from the revolution of the internet and communication. Whether placing a pizza order, purchasing a television, spending time with friends, or sending a picture via instant messaging, we use the internet for practically everything. The internet enables people to progress in almost every aspect of their lives. Additionally, the international structure of the computer network makes it possible to link individuals and create communities on a global scale.
Web3.0: The Next Big Thing
Web 2.0 introduced new platforms and significantly altered how people perceive the internet. Web 2.0 has opened up many opportunities, but has also raised questions about data ownership. As people spend more time online, huge tech companies—many of which have already been involved in data scandals and have paid their way out of them—are receiving more information on users, including what they like, the material they create, and other personal information.
Web 3.0 tackles these issues by introducing a new application usage reality. Application users may truly take control of their data by utilising verifiable, trustless, self-governing, permissionless, distributed, and robust technology. However, this will only happen once developers figure out how to build programmes that can be distributed on various servers as a decentralised application (DApp) and still provide the same user experience as in 2022. However, in addition to offering innovation and growth, Web 3.0 has the potential to create career opportunities for enthusiasts. The Web 3.0 business has the potential to produce over 8 lakh jobs in the country, according to a NASSCOM Industry research.
Essential Features in Modern Applications
Nowadays, when it comes to user experience, people prioritise convenience. For instance, online shopping platforms have changed how people shop by making purchases easy and reducing the time and effort required.
Users have grown accustomed to simplicity in their online interactions. Therefore, Web 3.0 technologies must offer a seamless user experience in contemporary websites and apps. These features include push notifications and real-time alerts, which keep users informed without launching an application directly. Instead of constantly refreshing an app to check an incoming message, users can get a general overview of what information should be kept in mind in this manner.
The modern-day users are so used to push notifications that features like that are often taken for granted as must-haves in an app. Therefore, the applications that do not offer such common features are often discarded by users as primitive or old-schooled. This is where the offerings of Web 3.0 can really make a difference.
Need for Web 3.0 Apps to Adapt
There is little doubt over all the endless possibilities Web 3.0 offers as a revolutionary technology. From data ownership, personalised web experience to transparency, Web 3.0 clearly builds on everything its predecessor lacks. While it’s already a reality, the elements of Web 3.0 are yet to be assimilated by the general public. That’s exactly why it needs to adapt and possibly evolve to become the next-generation technology eventually.
The objective of Web 3.0 is to bring the internet back to its original conception when it was node-based, open source, and decentralised. In the current Web 2.0 scenario, we all rely on the major providers, but if one of their servers goes down, we cannot access services like OTT platforms, cross-platform messaging, or taxi services. Thus, Web 3.0 should not focus on a single provider.
Moreover, it can be challenging to implement features that are already deemed as standard. For instance, when it comes to blockchain, it lacks a unified mechanism that provides real-time user notification. Because Web 3.0’s user experience has yet to be fully established, end consumers have been slower to accept it, making it harder for Web 2.0 users to switch.
Thus, two essential elements of Web 3.0 will provide users with much greater control over their personal data: decentralisation and permissionless platforms. This could help to restrict the practise of data extraction, which involves gathering user information without their consent or payment, as well as to lessen network effects, which have allowed the tech giants to almost monopolise the market through deceptive advertising and marketing strategies.
Final Takeaway!
According to Market Research Future, the market for Web 3.0 blockchain technology will be valued at more than $6 trillion in 2023. From 2023 to 2030, Web 3.0 will increase at a CAGR of 44.6%. The third generation of Internet services—Web 3.0—introduces the semantic web, websites, and applications that focus on knowledge creation and machine-based information understanding. In addition, one of the key objectives of Web 3.0 is to create websites that are more intelligent, linked, and open.
Furthermore, Web 3.0 can provide customers with a far wider variety of usefulness than Web 2.0, mainly consisting of social media, streaming, and online shopping. Semantic Web, AI, and machine learning, which are core components of Web 3.0, have the potential to expand applications into new industries and significantly improve user engagement.
The author is co-founder and COO, 9 Yards Technology