• CERTIFICATE
    • Eminent CIOs of India
    • Most Trusted Companies
    • Most Admired Brands
    • The most influential CMOs
  • SYNDICATION
    • AMD
    • DELL TECHNOLOGIES
    • HITACHI
    • LOGMEIN
    • MICROSOFT
    • RIVERBED
    • STORAGECRAFT
    • THALES
  • EVENTS
  • GO DIGITAL
  • INFOGRAPHICS
  • PRESS
    • Press Release PR News Wire
    • Press Release Business Wire
    • GlobeNewsWire
  • SPECIAL
    • WHITE PAPER
    • TECHNOMANIA
    • SME
    • SMART CITY
    • SERVICES
    • EDITOR SPEAK
    • CSR INITIATIVES
    • CHANNEL GURU
    • CHANNEL CHIEF
    • CASE STUDY
  • TECHTREND
    • VAR PANCHAYAT
    • TELECOM
    • SOFTWARE
    • POWER
    • PERIPHERALS
    • NETWORKING
    • LTE
    • CHANNEL BUZZ
    • ASK AN EXPERT
  • SUBSCRIBE
  • Apps
  • Game
  • KDS
  • Security
  • Telecom
  • WFH
  • Subscriber to Newsletter
  • August Issue
  • Blogs
  • Vlogs
  • Faceoff
SNA

HOME
NEWS

Is Web3 going to impact the digital world?

Is Web3 going to impact the digital world?

The internet that connects the global network of billions of interconnected computers and other such devices is single-handedly responsible for impacting the everyday world around us. We already live in a virtual world.The internet has blurred the line between reality and virtual space. The current iteration of the internet is still seeing many advancements with each passing day. Experts postulate that the next version of the internet will be more sophisticated and intelligent than the current one. Tim Berners Lee labeled web 3.0 as the semantic web. Now Web3 is to take the world wide web as we know it and add blockchains – the technology behind cryptocurrencies like bitcoin – to everything. The proponents of Web3 say it is now dominated by big corporations and proprietary algorithms. The primary idea behind Web3—the term was coined in 2014, by Gavin Wood, it will be based on the same blockchain technology that powers things like cryptocurrencies and NFTs. Blockchains are essentially incorruptible digital ledgers that can be used to track the movement of digital assets. Just as cryptocurrency in theory bypasses central authorities such as banks, Web3 would also bypass the central authorities we know as Big Tech. It is all about A paradigm for the Internet and this is where Web3 comes in. The last two decades have proven that building a scalable system that decentralizes content is a challenge. While the technology to build such systems exists, no content platform achieves decentralization at scale.

 

Web 1.0, the modern-day internet was a military computer network called the ARPANET. Its development was funded by ARPA, a branch of the U.S. Defense Department in the latter half of the 1960s. Whereas, Web 2.0, first named in 1999, saw the development of easy-to-use tools that let anyone create content online, not just experts, but at a cost of centralizing into the tech giants we have today, such as Facebook and Google. An outgrowth of Web 2.0, based on the idea that blockchain tech and digital tokens can foster easy-to-use, decentralized tools. There’s a lack of data portability, the ability to bring your information with you across devices. And if you purchase an app through one platform, it might not work on other platforms. Big tech companies also thrive on the data you give them. After all, Google and Facebook make the vast majority of their revenue from advertisements based on user information. Web3 is going to be the next evolution of the internet and it aims to incorporate these two technologies in addition to some other advanced technologies. The goal is to become intelligent, autonomous, and open. Finally, people who actually use sites and apps would then, ideally, own them. Participate in an online community enough, and you’d get a piece of it in the form of a digital token. Consumers, rather than a large corporation, would govern the service.

See What’s Next in Tech With the Fast Forward Newsletter

SECURITY
View All
Spyware can infect phone or computer through ads seen online
Technology

Spyware can infect phone or computer through ads seen online

by VARINDIA 2023-09-26
Quick Heal, SEQRITE and Tata Tele Business Services together to offer cybersecurity solutions to Enterprise customers
Technology

Quick Heal, SEQRITE and Tata Tele Business Services together to offer cybersecurity solutions to Enterprise customers

by VARINDIA 2023-09-22
Sophos outperforms in MITRE Engenuity ATT&CK Evaluations
Technology

Sophos outperforms in MITRE Engenuity ATT&CK Evaluations

by VARINDIA 2023-09-21
SOFTWARE
View All
Newgen and Coforge to deliver transformative insurance lifecycle management solutions
Technology

Newgen and Coforge to deliver transformative insurance lifecycle management solutions

by VARINDIA 2023-09-25
Elastic launches AI Assistant for Observability, general availability of Universal Profiling
Technology

Elastic launches AI Assistant for Observability, general availability of Universal Profiling

by VARINDIA 2023-09-21
Red Hat together with Intel to deliver Open Source Industrial Automation
Technology

Red Hat together with Intel to deliver Open Source Industrial Automation

by VARINDIA 2023-09-21
START - UP
View All
Homegrown app Dunzo to raise $35 million from Reliance & Google
Technology

Homegrown app Dunzo to raise $35 million from Reliance & Google

by VARINDIA 2023-09-26
ideaForge and GalaxEye Join Forces to Build UAV FOPEN Radar Technology
Technology

ideaForge and GalaxEye Join Forces to Build UAV FOPEN Radar Technology

by VARINDIA 2023-09-26
Datacultr expands its reach to LATAM and Africa Regions
Technology

Datacultr expands its reach to LATAM and Africa Regions

by VARINDIA 2023-09-05

Tweets From @varindiamag

Nothing to see here - yet

When they Tweet, their Tweets will show up here.

CIO - SPEAK
Automation has the potential to greatly improve efficiency and production

Automation has the potential to greatly improve efficiency and production

by VARINDIA
Various approaches are followed to enhance efficiency, productivity, and cost-effectiveness

Various approaches are followed to enhance efficiency, productivity, and cost-effectiveness

by VARINDIA
Technology can be leveraged in several ways to boost efficiency, productivity and reduce cost

Technology can be leveraged in several ways to boost efficiency, productivity and reduce cost

by VARINDIA
Start-Up and Unicorn Ecosystem
OpenAI's ChatGPT now speaks in 5 different voices

OpenAI's ChatGPT now speaks in 5 different voices

by VARINDIA
VVDN Technologies and Axiado partner to reshape the server technology landscape

VVDN Technologies and Axiado partner to reshape the server technology landscape

by VARINDIA
Vertiv Provides Flexible Edge and Smart IT Power Backup in India

Vertiv Provides Flexible Edge and Smart IT Power Backup in India

by VARINDIA
Accenture Invests in Writer to Accelerate Enterprise Use of Generative AI

Accenture Invests in Writer to Accelerate Enterprise Use of Generative AI

by VARINDIA
VIAVI wins funding for three projects in DSIT ONE competition

VIAVI wins funding for three projects in DSIT ONE competition

by VARINDIA
Comviva partners with XoXoday to revolutionize loyalty experiences

Comviva partners with XoXoday to revolutionize loyalty experiences

by VARINDIA
ManageEngine Named a Challenger in the 2023 Gartner® Magic Quadrant™ for PAM

ManageEngine Named a Challenger in the 2023 Gartner® Magic Quadrant™ for PAM

by VARINDIA
Standard Chartered Bank teams up with Cummins Technologies to digitalise incentive payments to mechanics

Standard Chartered Bank teams up with Cummins Technologies to digitalise incentive payments to mechanics

by VARINDIA
Genesys and Salesforce announce AI-powered customer experience solution

Genesys and Salesforce announce AI-powered customer experience solution

by VARINDIA
GIGABYTE rolls out two White Motherboards

GIGABYTE rolls out two White Motherboards

by VARINDIA
×

Reproduction in whole or in part in any form or medium without express written permission of Kalinga Digital Media Pvt. Ltd. is prohibited.

  • Distributors & VADs
  • Industry Associations
  • Telco's in India
  • Indian Global Leaders
  • Edit Calendar
  • About Us
  • Advertise Us
  • Contact Us
  • Disclaimer
  • Privacy Statement
  • Sitemap

Copyright varindia.com @1999-2023 - All rights reserved.