Since Bitcoin, at the latest, the term blockchain is no longer quite so foreign. But what is behind the term Web 3.0 and what exactly is blockchain?
Web 3.0, also known as the semantic web, makes it necessary for machines to be able to read and, above all, evaluate the information that people put on the Internet via a wide variety of platforms. This evaluability of the data makes it possible to relate the information generated by users. It is important that the description with which the information is provided is unambiguous.
Thus it is possible to provide searchers with several pieces of information in the form of one query. For example, if you enter the name Chris Evans in Google, it will not only show who Chris Evans is, but also in which movies and series he has played, when he was born, how tall he is, etc. All this information is built up by the search engine. The search engine builds all this information from the stored information about Chris Evans. So you get all the information at a glance.
Through the information links in Web 3.0, connections are now discovered that were not clear before. You can use these connections for your company. This can be particularly interesting in e-commerce. For example, if someone searches for a hiking vacation in Mallorca, the semantics can be used to determine that this person might also need a hotel, hiking equipment, and so on. The many new technologies in Web 3.0 make it possible for the Internet to make proper use of its vast memory. It will recognize people, buildings, images, products, etc. and find a corresponding meaning behind this data the so-called semantics.
In this context the Web 3.0 behaves similarly to a human brain. It learns through experience. These values are stored and, as in a brain where connections are made through synapses, the machine links data with meanings and experiences. Web 3.0 will become a gigantic collection of knowledge that continues to learn by means of artificial intelligence.
To understand how Web 3.0 relates to blockchain technology, you need to look at how today’s Internet is set up. Today’s modern Internet is very centralized in many respects. Applications are run on private, local servers or in large data centers. In order to offer users more speed and adaptability, cloud solutions have been adopted. However, these cloud solutions are also centralized to a few providers. Besides the great advantages of cloud hosting in terms of performance, security and flexibility, it also brings challenges. These include loss of data control, lock-in to one provider, and performance degradation for international websites.
These reasons are by no means a compulsion to move away from cloud solutions, but they are driving the new trend and the emergence of a decentralized Internet based on technologies such as blockchain.
Currently, blockchain technology is mainly known in connection with cryptocurrencies. But blockchain is much more than just cryptocurrencies. Blockchain is an innovative database technology which, by distributing identical database versions across an entire network, makes it almost impossible to hack or defraud the blockchain. The areas of application of the Blockchain are currently only used to a limited extent. Potentially, this database technology can be used for many other applications.
A big step in the development to advance the Web 3.0 is Ethereum. This platform is currently seen as the ideal infrastructure for a decentralized Internet. Thanks to these systems, the vision of a decentralized Internet in the form of Web 3.0 is gradually taking more shape. An increasingly intelligent Internet is emerging through blockchain and InterPlanetary File System technologies. The online experience is becoming more personalized as technology learns. We will experience an ever greater interconnection of the online and offline worlds in the coming years.
At present, however, Web 3.0 still faces major hurdles that have to be overcome in order to take the next big step in the development of the Internet. One example is that the decentralized web offers greater security, but cannot currently keep up with the speeds of the centrally organized current web. Centralized applications can currently handle many more requests than decentralized applications. However, once these and other challenges are overcome, networks like Ethereum will offer far greater resilience than current systems.
We are definitely looking forward to seeing what this development will bring and will always stay on the ball for our customers with this and other developments. So that we can continue to provide our customers with the latest technology in the future and not with systems that will no longer be able to contribute to a successful corporate strategy tomorrow.
Web 3.0, Semantic Web and Blockchain are not only since developments in the online world – with Apollobase you are always up to date! always up to date!
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Bismarckplatz 4 70197 Stuttgart Germany