Don’t miss out on these web 3.0 crypto opportunities

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An editor at Coincrop

24 Mar 2022 | 9 min read
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eb3 is a concept for a new iteration of the World Wide Web based on blockchain technology – it incorporates concepts such as decentralization and token-based economics.

In this guide:

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What is web 3.0?

Web 3.0 Cryptocurrency is the name that a number of technologists have given to a new type of Internet service that is built using decentralized Blockchain.

The aim of Web 3.0 is to change the current Internet into a freer environment away from the Corporates that hold it now, web3.0, has defined it as “the internet owned by the builders and users, orchestrated with tokens.”

Web 3.0 aims to transform the internet we currently know by vanquishing the traditional gate keeper and replacing them with the free digital economy. The includes “play to earn” video games that are reward with crypto tokens, decentralized social media, NFT platforms, digital culture.

Is this just a rebranding?

Sceptic could easily say they aim is to discard the Internet 2.0 image of being a corporate run animal by the likes of Google, Facebook, Apple etc but it is being replaced with a pay-to-play internet, which is not free but with further shackles where every activity or social interaction will become a financial transaction?

People are afraid of missing the next big thing, and in recent times the Internet was the Dotcom boom, now its Crypto Currencies, so the merger of the 2 must be the next big thing?

Web 3.0 is the manifestation of all the energy and capital pouring in the crypto world, in 2021 alone $20+ Billion has been invested in crypto related projects from Venture capital firms. With a great percentage of this investment being specifically ear marked to Web3.0, further to this Global tech firms like Twitter are experiment with the own Web 3.0 projects.

How will it work?

To most just like it does now, however with 3.0, a user with have complete ownership any information given, NO Corporate can access or verify its accuracy without the user’s permission and a single profile will work across any platform.

Will it be secure?

With this being the 3rd version of the Internet, it will be undoubtedly secure, as it is built on the Blockchain, with it being open and decentralised leading to it being more secure than any of the previous web version.

Will it be intelligent?

Without a doubt this will be the best version and with the most intelligence built into it and is thought to have the following characteristics:

Semantic Web – Web 3.0 this goes beyond focusing on keywords and numeric values, it understands content like photo, video, or audio and more complex associations between products, locations, and specific behaviours.

Artificial Intelligence – Artificial intelligence (AI) software is able to decrypt natural language and understand intention, it’s an evolution of and can also recognize real from fake and provide more reliable data.

3D Graphics – It should integrate the use of 3D graphics and VR technologies which is really exciting as it should provide results for real-life places and objects of interest.

Connectivity – Within web 3.0, information is more connected through semantic metadata, leveraging all the available information.

The following assets are generally associated with being web 3.0 technologies.

Chainlink

Chainlink is a decentralized blockchain oracle network built on Ethereum.[3][4] The network is intended to be used to facilitate the transfer of tamper-proof data from off-chain sources to on-chain smart contracts.

At the time of writing, Chainlink is trading at $LINK - $17.89