Advantages of Web 3.0
The next big wave is the Web 3.0 or the Decentralised Web which is envisaged by the Industry. It will take a nostalgic turn to the vision of Web 1.0 and 2.0 with better privacy, data security and more human-like interaction.
The vision of a more transparent Web dates back to 2006. However, the technologies and tools weren’t available for it to materialise. Bitcoin was still three years away, bringing forward with it the niche concept of the distributed ledger, or blockchain technology for peer-to-peer digital storage. Decentralisation was the idea while blockchain the means. What we now have is the ‘Human-Centered Internet. Let us understand the key benefits which the Web 3.0 offers.
1. Ownership of Information or Data:
The end-users will regain the complete ownership and control of their data and have the security of encryption. Information could then be shared on permission/need or case-by-case basis. Currently, the large organisations like Facebook and Amazon have en-number of servers storing personal information on income, interests, dietary preferences, credit cards, etc. These data are not collected merely to enhance their services, but the data is sold to the advertisers and marketers who pay billions of dollar every year.
2. Access to Information:
One of the most significant benefits of Web 3.0 is the transformation towards being able to access the data from anywhere and is mainly driven by the heavy usage of Smartphone and Cloud applications. The vision is to ensure the user can have access to information as much as possible from anywhere in the world. The technology aims to expand the idea in ways that allow devices to collect user data and letting smartphone to access data on your computer.
3. Elimination of the Central Point of Control:
The blockchains like Ethereum provide a trusted platform in which the data is fully encrypted, and the rules are unbreakable. Hence, the intermediaries are eliminated from the equation. Apple and Google will no longer be in control of the user data. No Government or entity will have the ability to kill services and sites, and no individual can control the identities of others.
4. The Permissionless Blockchain:
Anybody can create an address and interact with the blockchain network. The authority to access permissionless blockchains cannot be overstated. The users will be not be restricted on account of their income, geography, orientation, gender or a series of other demographical and sociological factors. The digital assets and wealth can be transferred efficiently, quickly, cross-border, anywhere globally.
5. Uninterrupted Service:
The suspension of account and denial of distributed services are reduced dramatically. Since there is no single point of failure, the service disruption will be a bare minimum. The data will be stored on the distributed nodes to ensure redundancy, and multiple backups will prevent seizure or server failure.