The third generation of the World Wide Web is a powerful tool to revolutionise the accessibility and authenticity of the internet economy.
The amount of data and information keeps growing every day, enhancing the value of everything digital. In 2021, we witnessed the growth of cryptocurrencies like never before. As we enter 2022, we will be required to understand a series of related elements that gain visibility in late 2021, such as Metaverse, NFTs, Defi and also Web 3.0.
Web 1.0 — The Static Web
It was almost three decades ago when the World Wide Web was introduced. Tim Berner’s Lee was the one who designed the internet, which was consumer-ready. In simple words, the first version of the web known as Web 1.0 has static websites, i.e., they were prepared by the businesses and entrepreneurs, ready for the consumers to use.
Web 2.0- The interactive Web
The current generation of web is known as Web 2.0. This generation of websites has most of the content created by the consumers themselves and is used by all. It is the social content from social media platforms, blogs, vlogs and so on. It is a democratic and user-dependent web in terms of its content.
Web 3.0 — The decentralised and Semantic Web
As the name suggests, web 3.0 is a 3rd generation of the internet. It is the latest version of the worldwide web focusing on decentralisation. It combines the previous versions of the web and artificial intelligence. It is built on three layers of technological innovation — AI, Decentralised networks and edge computing.
In simpler words, Web 3.0 services and apps are powered by blockchain technology, cryptocurrencies, metaverse, AI and NFTs. It is anticipated to enable data access and transparency without requiring a third party to control their own data and easily personalise content.
Popular Web 3.0 Cryptos
Some of the popular cryptocurrencies with the latest version of the internet technology in 2022 are:
- Polkadot (DOT)
- Chainlink (LINK)
- Filecoin (FIL)
- Helium (HNT)
- Theta Network (THETA)
- BitTorrent (BTT)
- The Graph (GRT)
- Stacks (STX)
- Basic Attention Token (BAT)
- Arweave (AR)
Source: coinmarketcap.com
Using the Web 3.0 Version
There are isolated developments in progress to make web 3.0 a success. There are blockchain platforms such as Moledao, aiming to raise funds to generate the necessary tools for this space.
Examples of web 3.0 currently available are Siri and Wolfram Alpha. Siri is apple’s artificial intelligence and speech recognition personal assistant. It’ll efficiently perform an action like ‘Set an alarm for..’ or ‘Which is the nearest pasta place?’ and so on. At the same time, Wolfram is like google but gives out results more accurately than searching “word to word like’ outcomes like google. Both can process large amounts of data into valuable and meaningful actions.
Perhaps, there are constant improvements in the field, and we expect to start using web 3.0 every day to have a highly engaging internet experience by the end of this decade.
Traits of Web 3.0
- An inevitable part of web 3.0 is ubiquitous internet access across all regions, networks, and devices.
- The divide reach of web 3.0 is expected to be available on wearables, cars, AIs, smart interfaces and appliances, etc.
- It aims to balance the web creators and economy by ensuring the right proportion of incentives to each.
- This web version aims to have a complete open-source architecture without restrictions to access, modify, extend and monetise. It will also enhance accountability by increasing peer reviews.
- It focuses on decentralising the web through blockchain technology and breaking the chain of one or a group of organisations controlling the web.
Myths of Web 3.0
- Improve internet speed: No, web 3.0 focuses on improving search quality using AI for semantic connection, not changing the search time.
- Metaverse and Web 3.0 are the same: No, the metaverse is necessary to access the latest version of the web and is related to it but not identical.
- It will require new devices and interfaces: No, web 3.0 can be used on the same applications such as web 1.0 and web 2.0.
Note:
Web 3.0 is built largely on three new layers of technological innovation: edge computing, decentralised data networks and artificial intelligence.
About Coinsbit India
Coinsbit India is a peer-to-peer crypto trading platform connecting buyers with sellers which are powered by Europe’s largest and award-winning cryptocurrency exchange. Coinsbit.in aims to bring a professional, smooth, easy, and highly liquid Crypto platform in India delivering a superior user experience.
Important Reminder: We advise all users to enable two-factor authentication for their Coinsbit India accounts for maximum security.
Disclaimer: Crypto assets are volatile, and investments in them are risky. We advise you to do thorough research before investing.
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BitOxford is a global cryptocurrency exchange that provides a platform for various trading cryptocurrencies.
People have been investing, mining, getting and earning Bitcoins from last a few years.
Cryptocurrency exchanges are sites where you can purchase, sell or exchange cryptocurrencies for other advanced money or customary cash like US dollars or Euro.
For those who need to exchange with experts and approach extravagant exchanging instruments, you may probably need to utilize an exchange that expects you to substantiate your ID and open a record.
Here square measure a couple of stuff you can wish to contemplate before selecting the most effective cryptocurrency exchange suited to your commercialism and speculative desires.Fees – the majority exchanges charge fees for you to try to business on their platforms.
Most exchanges need some variety of biometric identification within the variety of a passport, driver’s license, proof of residence, or different similar document before the change of integrity.
Transfer cryptocurrency within Coinsbit India for free using CODESIt has been a great 2021 for Coinsbit India as a platform.
Backed by Europe’s largest cryptocurrency exchange and offering the same top grade custodial and platform security, we are here to offer the best trading experience for the Indian market.Now, in line with our plans, we are excited to announce yet another exciting feature for our community.
As such, we are excited to announce CODES for the first time in India, Coinsbit India users will now be able to transfer funds within Coinsbit India without incurring any fees.Gone are the days of having to type out long wallet addresses.
The CODES technology allows you to generate unique codes against a certain amount of your cryptocurrency holdings and then send unique code to the receiver.
We believe this will make trading and investing in cryptocurrencies easier and provide a better trading experience for all,” Akshit Khanna, CMO Coinsbit India.How to transfer free within Coinsbit India?Exchange within Coinsbit India is absolutely free.You can generate CODES and transfer your coins to another Coinsbit user.Click on FINANCE and select CODES.Select the currency and enter the amount you want to exchange.
(Note- If you are transferring through codes you need to transfer your coins to your MAIN WALLET.
Crypto Industry keeps on the update itself from the date of its birth.
It adopts various dimensions such as de-centralized exchange, Hybrid Exchange and incorporated various features such as Escrow, Cool wallet, etc, ABCC, popular Singapore based digital asset exchange going to launch ABCC cloud.It is a SaaS solution and a comprehensive suite of infrastructure to empower strategic partners and reach mutual benefits, including services of data, security, operating system, OTC trading, and finance.ABCC aims a long-term development in the blockchain technology and crypto ecosystem, therefore, contributes to the ecosystem and empowers partners to build their own digital asset exchanges within a day.
By using ABCC SaaS solution, partners can focus on business development and save manpower and resources on developing a platform from scratch.
There are five core products and services – diversified enough for partners to choose based on individual needs.
High liquidity and low-security risk are the fundamentals of the ABCC exchange platform.
“ABCC believes that the only way for the cryptocurrency industry to grow is through broad adoption.
