What is Web3

In the last twenty years, we have seen the world go through a great technological revolution, which continues to develop year after year. Starting with the introduction of the Internet, in its Web 1.0 version, until the creation of social networks, through Web 2.0. Today, the Internet is a vital part of human interaction and connection – and this trend will only increase. Now we start with Web3. What does that mean?

Web 2.0 was a big step forward for the world. With it, the user experience has become more dynamic. It enabled interoperability between different websites and applications, even allowing individuals to generate their own content. Web 2.0 has transformed the user into a real participant and not a mere observer.

Over time, situations and needs change, requiring new technologies. And with what has been developed in recent years, a number of possibilities have opened up to the world.

The next step now comes in the form of Web3, the next generation of Internet technology, where computers and humans collaborate through machine learning, artificial intelligence (AI), and blockchain technology. This process already makes machines able to intuitively understand and recommend content, considering each user individually, which has the power to transform their experience into something personalized.

We are witnessing a real “Semantic Web” – an extension of the World Wide Web that enables cooperation between computers and people – open and decentralized, where users are the owners of their own data. And where there seems to be no end to the features and benefits.

The first and most obvious change comes from the emergence of Web3, which presents itself with more interactivity. It also brings 3D visualization, including virtual reality through the metaverse – the future of the technological world.

Metaverse is an immersive virtual space that combines physical and virtual reality and allows users to interact with each other as if it were real life. Whether you’re going to virtual events, shopping or playing games – the possibilities are endless. It’s no wonder that major tech companies like Meta and Twitter are investing heavily in this area, with games like Sandbox, Axie Infinity and Illuvium for example.

Binance recently established a Global Advisory Board, composed of international members with renowned experience in various sectors, such as the former head of the Central Bank of Brazil, Henrique Meirelles, to contribute to building the best path towards Web3 and cryptocurrencies.

To empower the development of this entire ecosystem, Binance has also created a venture capital arm of the exchange, Binance Labs, which is in charge of investing in Web3-related projects, which include artificial intelligence and blockchain, for example. This project envisages Web3 as the next generation of the Internet, with digital information interconnected in a decentralized manner in the public ownership of users, enabled by blockchain technologies.

Without blockchain, the most important element of decentralization, which is responsible for the transparent dissemination of information and returning ownership of their data to users, would not exist. Not to mention that this technology enables the creation of a new digital economy, where users can have a digital cryptocurrency wallet to value, trade and transact goods and services online.

And these are just some of the many characteristics that make up the concept of Web 3. A fluid and constantly changing concept, which provides the new Internet. No central point of control by governments or corporations. With a greater connection of information, the formation of a larger and better database. With enhanced and hand-picked advertising for the user. With a more efficient navigation system. And also, with greater security for everyone, with the constant support of intelligent robots.

Web 3, despite not yet having a concrete definition, has a clear goal: to empower users and transform their experience into something more impressive.

It is a world of opportunities to create value for society. And to keep us on top of it, Binance Academy and Binance Blog regularly address this issue. The Academy has hundreds of free articles in several languages ​​that are intended to contribute to education about the crypto market, blockchain and Web3. The blog informs people about the development of projects at Binance, the world’s largest infrastructure provider for the blockchain ecosystem.

Leave a Reply

Your email address will not be published. Required fields are marked *