Did you know that internet technology is still growing rapidly? Web 3.0 will define the future of the internet where artificial intelligence can build a system that is faster and also customized for each user. Web 3.0 will use a decentralized blockchain system to secure users’ information. This innovation will certainly bring major changes to many sectors including crypto. How will it affect cryptocurrencies? Let’s understand more.
Web 3.0 Innovation Layer
To understand the impact of Web 3.0 on crypto, we need to know the features of it. For Web 2.0, the main features were the introduction of a mobile system that allows users to be able to access the internet from anywhere as well as social media apps and cloud features. For Web 3.0, the main innovation lies with the technological advantages from the edge computing systems, decentralization, artificial intelligence, and the blockchain system.
- Edge Computing
Edge computing is a computing system that is performed on or near a data source. Edge computing is designed as a tool that accelerates application support in real-time. This means that the data generated by the internet of things (IoT) will be processed closer to the edge of the network. The process of analyzing existing data will be faster and more effective. The use of this system supports things like video processing, artificial intelligence (artificial intelligence), and so on.
- Decentralized Data Network
The decentralized system allows various data generators to sell their data without loss of ownership, risk of data privacy leaks, and other risks. As a result, this decentralization of data will have multiple data providers in today’s ‘data economy’. In Web 3.0, data decentralization means that users will have complete control over their data. This allows you to log in safely on the internet without being detected by the system.
- Artificial intelligence and machine learning
Artificial intelligence (AI), is a simulation of human intelligence that is applied to machines that are programmed to be able to perform activities that generally require intelligence or human power to do so. So far, AI and machine learning algorithms have succeeded in assisting the development of everyday human technology, from customer service systems to making predictions that can save lives. Later, Web 3.0 will focus on implementing AI to make it more user friendly for the internet users.
The blockchain system is one of the foundations of Web 3.0. The smart contracts generated from this system is a key advantage as it allows transactions on Web 3.0 to be carried out more easily.
Web 3.0 Architecture
There are four elements that underlie the architecture of Web 3.0:
- Ethereum Blockchain or equivalent blockchain network
The Ethereum blockchain is a global system based on peer-to-peer networking that is open to anyone around the world. This system is not owned by individuals but by all who use the network. Users can write code but cannot update existing data. Other networks like Polkadot, Cardano, Solana, and others can also be used.
- Smart Contracts
The program is also part of the ethereum blockchain or equivalent blockchain network. It is written and built by app developers to define the workings of the ethereum blockchain system itself.
- Ethereum Virtual Machine (EVM)
This component is made to execute the smart contract system.
- Front End
The Front End component will define what components are needed and how the user interface will be made to be more user friendly..
The Importance of Web 3.0 for the Future
Web 3.0 is a user-generated system for users on a platform controlled by the creator. There are three things that will develop this new innovation to play an important role in the future:
- Minimize reliance on centralized data
This minimizes risks such as data loss, data leaks and hacking. The use of various data sources, as well as digital assets in the form of tokens, will make it easier for users to own their data. No platform will be able to ‘use’ its user data without permission.
- More personal interactions
With the innovation of Web 3.0, everything in the system will be made to customize to the habits and needs of each user.
- Ease of use with the help of artificial intelligence
The existence of an AI system in Web 3.0 will facilitate the various needs of users on the internet. In the future, the need for AI systems will definitely increase drastically and Web 3.0 will be one of the solutions.
- Reduce dependence on third parties
This will make it easier for businesses who usually depend on the existence of third parties or intermediaries. They can directly provide their services directly to customers in a decentralized system on Web 3.0.
- A peer-to-peer network connection is getting stronger
This stronger connection allows users, businesses, and machines to share data with each other while still strengthening identity privacy as well as system security.
- Improved user trust
Users’ trust in using a platform will be higher because their privacy is guaranteed.
Impact of Web 3.0 on Crypto
Decentralized systems, as well as blockchain, are one of the main foundations of Web 3.0. As a system that is also the foundation for the technology driving crypto assets, it has great potential in bringing about developments for this digital asset.
This Web 3.0 change is predicted to be likely to be much more sophisticated than the existing cryptosystem. The changes will be able to link the data of all users and machines in multiple scales. The changes brought about by Web 3.0 will also greatly improve the economic blockchain system. This is due to the ease for developers to build open-source software and a more coordinated crypto token network.
Given that new innovations will increasingly support crypto assets, it is good to start investing in these assets to gain profits in the future. Investments in Tokenomy are guaranteed safe. If you are a beginner, there are also many less risky investment options such as deposits and staking. What are you waiting for? Register now on Tokenomy and start investing!