Role of Blockchain in Web3

The internet is a constantly evolving and growing place. As new sites and companies add to the internet with websites and programs, the way we use the internet is changing as we learn to adapt to the new technologies. Technology experts view the age of the internet we’re currently in as the end of Web 2.0 with the beginning of Web 3.0 just around the corner. Since Web3 has been spurred on by the advancements of blockchain technology, we thought we would take this opportunity to explain how they are connected. What is Web 3.0 and how does it use blockchain technology? Let’s find out:

What is Web3

Web3 is the third generation of internet services which provide websites and applications with the technology to run. Web 3.0 is set to be powered by AI and peer-to-peer applications like blockchain. The key difference between Web 2.0 and Web 3.0 is that Web 3.0 is more focused on using innovative technologies like machine learning and AI to create more personalized content for each user. It is also expected that Web3 will be more secure than its predecessors because of the system it is built upon.

What is Blockchain

Blockchains are made up of blocks that store information. Each block has a unique “hash” that differentiates it from other blocks. These blocks are then connected by a chain in chronological order. The information stored in these blocks is permanent, which makes it a very secure way to complete online transactions.

This is why cryptocurrencies, like Bitcoin, are built on blockchain technology. Blockchain gives cryptocurrencies the platform and security they need to work. These blocks, or records are stored on online servers, which are publicly accessible, but only by you or anyone else who the block has been shared with.

How do They Work Together?

Blockchain serves as the foundation of Web 3.0; Web 3.0 would not be possible without the systems provided by blockchain. The enhanced security and privacy offered with blockchain is something that the developers of Web 3.0 are using to appeal to internet users. Since blockchain is a decentralized system, there is no single point of control that could be easily hacked. For Web3, this means that individual websites and the internet, in general, would be much more secure against attacks. Users would not have to worry about their information being deleted or compromised. Together, Web3 and blockchain will allow for better cryptocurrency trading and mining.



Examples of Web 3.0 Technologies

Examples of companies already using Web 3.0 AI technology include Apple with Siri and Amazon through Alexa. Both companies are using voice-controlled AI to give consumers real-time answers to their questions. Web 3.0 would expand the reach of internet access to everyone at any time. Amazon has also taken steps to integrate smart devices, which fall under the category of Web 3.0, into their Alexa products. With smart devices, a user can communicate with or control multiple devices from their phone or with their voice. But the most talked-about Web 3.0 technology that is already in use is cryptocurrency like Bitcoin.

The Future of the Internet

While widespread use of Web 3.0 is still something of an aspiration, we can still see the beginning of its possibilities. From cryptocurrency to smart devices, the internet is using blockchain to move towards the next evolution of the web. While some of these changes may seem confusing to people outside of the technology business, there is no need to worry about all of these changes happening at once. Changes to the internet take time and money to be developed, which is why changes are often gradual and give the average user time to learn and adapt.

Still have questions about blockchain and Web 3.0? Visit our website to learn more about blockchain, smart contracts, and all things Web3.