Web3 - The Future Of Software Development

Internet technology continued to change the software development industry with the latest version: Web 3.0. Let's learn more about this brand-new transformation.

What Is Web 3.0 or Web3?

Ever since the dawn of the Internet, we have witnessed two major explosions of the website ecosystem, which are Web 1.0 and Web 2.0. Web 1.0 is simply the connection between static information linked to each other via URLs, presented using platforms such as Squarespace or WordPress. 

Moving to Web 2.0, you experience a complex chain of social interactions and data linking users and organizations to each other. The best presentations for this are Twitter and Facebook, where you can share and add your information and algorithm-based data managed by major tech companies.

The Web 2.0 ecosystem is already too popular, but imagine this: What if there is another Internet technology foundation where information is decentralized, and all your information and trading on this platform is fully under your control? What if no major center has access to your digital data, and you can distribute ownership easily?

The answer to these questions is Web 3.0. The latest Internet ecosystem has been born, though it has yet to form fully; it has shown incredible potential as the decentralized future of the global Internet foundation. There are numerous implementations for Web3, including AI technology, Blockchain, Ethereum and Cryptocurrency.

The basic concept of Web 3.0 is decentralization, which allows users to have full control over their digital assets. Various companies have integrated the new Web 3.0 technology into their product, such as Siri (with Artificial Intelligence and Natural Language Processing) and Ethereum (a decentralized & open-source blockchain platform for cryptocurrencies).

Advantages & Limitations Of Web 3.0

Advantages

Developers have seen the huge potential of Web 3.0 in the future of the global technology foundation. At its core, encryption is the heart of the decentralization process. Everything you own on the Internet will be registered to a single, one-of-a-kind code that cannot be replicated. Such digital assets are called crypto and NFTs (Non-fungible tokens). Upon trading assets, the personal identities of the traders won't be revealed without the participant's consent.

Within the Web 3.0 ecosystem, there are no central databases. Everyone is able to create and manage their personal systems, preventing fraud and censorship. For an open platform that is not controlled by any single person or organization, everyone can understand the systems and creators of digital products.

Another important aspect of Web 3.0 is the futuristic dream of Artificial Intelligence (AI). Integrated with thousands of algorithm-based coding, AI is built to understand human command and partial emotional concepts. Unlike traditional search engines, AI can learn and advance, allowing it to serve humans in a more intelligent manner.

Limitation

While web 3.0 is still in its infancy stages, it's too soon to tell whether it will be a sustainable generation of the Internet for the time being. Decentralized data means absolute freedom in data sharing, meaning cyber threats, malicious content, or malware might be an issue.

Moreover, absolute anonymity makes it difficult to find the user should things go wrong. Before the Web 3.0 concept can be materialized, there should be a certain list of policies to ensure data management and cyber safety.

Metaverse - The New Experience

The introduction of Web 3.0 led to the birth of a new virtual reality world: Metaverse. By definition, Metaverse is a massive platform consisting of a three-dimensional world by augmented reality (AR) and virtual reality (VR). This concept helps people connect and interact with each other remotely in a unique digital environment.

Metaverse users connect to the virtual world using a VR headset. The possibilities of Metaverse are endless. For example, the gaming industry has recently witnessed the appearance of VR-based games, bringing an entirely new realistic gaming experience. Other implications include remote work, professional healthcare and monetization projects and virtual tours.

Blockchain technology plays an essential role in the foundation of Metaverse. Companies and individuals can take advantage of Metaverse's 3D assets, create significant digital assets, and trade with other users. In addition, Metaverse offers an efficient virtual learning and working place for its users, especially during the COVID-19 pandemic. Virtual businesses and market platforms are also developing, promising to be a prominent middle-ground for businesses and entrepreneurs.

FAQs

How will Web 3.0 change the future of the Internet?

Web 3.0 will redefine the way people share information in a decentralized platform. This generation of the Internet will change the user's experience with the introduction of AI and blockchain technology.

What is the difference between blockchain and Web3?

Blockchain is the systematic network procedure of encrypting a user's digital assets without any governing authority, while Web3 offers freedom over decentralized webs, including applications, online services, etc., without authority.

What can you build with Web3?

The possibilities for Web3 are endless. You can create smart contracts, front-end web applications, bootstrap, etc., using React.js, Web3.js and Bootstrap.

Web3 And Software Development

The appearance of software development has initiated a new trend in software development. As one of the leading countries in cryptocurrencies, Vietnam has a lot of talent and resources to expand your business using blockchain technology. It is time to advance to the next generation of information technology. Contact us for more information and become one of the leaders in this industry.