What is Web 3.0? - YouTube

so what is web 3.0 and is it really the future  of the internet and will it really challenge  

the tech giants such as facebook and google on  today's coin market cap episode we will discover  

what web 3.0 is and how it came to be and also  what the future holds and more importantly how  

it's going to revolutionize the world that we  live in my name is Trev and here at coin market  

cap we love making videos about all things crypto  from crypto news to market moves into educational  

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let's get into today's video on October 4th the  online world came to a standstill as facebook  

Whatsapp and instagram suffered a major outage  leaving little to no access for billions of users  

for about 6 hours this occurrence is not the  first of its kind but it's the largest so far  

in just those 6 hours the outage had  managed to cause global ripple effects  

disrupting primary communications for millions and  halting the operations of thousands of businesses  

depending on its continuous operation the outage  revealed a problem most internet users were  

previously unaware of the dangers of relying on  shared infrastructure and centralized platforms  

why can't the internet be opened up so we  don't suffer from the dangers of a shared  

infrastructure not only that but an internet  where all users can access whatever they want  

and have complete ownership of their own data and  information after all centralized web 2.0 networks  

like facebook and google collect your personal  data categorize audiences into demographics and  

monetize your data by showing you targeted ads  the severity of these issues has even begun to  

change the general public's opinion with people  looking for alternatives beyond the centralized  

platforms and it's quickly gaining momentum  it's time for web 3.0 the next evolution of  

the internet but to better understand the future  we need to understand the past and where we came  

from let's quickly go over the first iteration  of the web web 2.0 and then we're going to dive  

deeper into the unique features of web 3.0 web 1.0  is where it all began web 1.0 is also called the  

static web and it was the first and most reliable  internet in the 1990s when there was just a set  

of static html web pages that could be read in  browse but could not be interacted with and it's  

referred to as the read only web back in the day  creating user pages or even commenting on articles  

wasn't a thing think of web 1.0 as a library where  you can use it as a source of information but you  

cannot contribute to it or change the information  in any way web 1.0 didn't have algorithms to sift  

internet pages which made it extremely hard for  users to find relevant information simply put it  

was like a one-way highway with a narrow footpath  where content creation was done by a select few  

and information came mostly from directories  simply put it was slow web 2.0 made the internet  

a lot more faster and more interactive thanks to  advancements in web technologies like javascript  

html5 css3 and so on it enabled startups to  build interactive web platforms such as youtube  

facebook wikipedia and many more web 2.0 paved  the way for social networks and user-generated  

content production to flourish since data can be  distributed and shared between various platforms  

and applications think of web 2.0 as a big  group of friends and acquaintances you can  

still use it to receive information but you can  also contribute to the conversation and make  

it a richer experience however with all of the  new opportunities given to independent creators  

web 2.0 is not exactly equal platforms like  facebook instagram and twitter are not entirely  

free and there's a saying in the tech world if  you're not paying for it you are the product and  

these platforms operate in this model they do not  exactly grant you free access to their products  

instead they want you to trade your attention and  data in exchange for billions worth of ad revenue  

and many issues come with this model but they  all arise from one principle centralization apps  

like google facebook and twitter are basically  middleman that benefit massively from connecting  

users with each other think about it there  are platforms that rent out space for users to  

share content while collecting all that data for  personalized advertisement in an age of increased  

demand for data privacy and control web 2.0 is  ripe for change and this is where web 3.0 comes in  

web 3.0 is the future of the internet which  will be decentralized and privacy conscious  

decentralization here means no central point of  control no middleman and no control over users  

data web 3.0 is a fair and transparent network  where people will interact without the fear of  

loss of security or privacy think of web 3.0 as a  giant database while web 2.0 uses the internet to  

make connections between people web 3.0 will  use the internet to connect with information  

in web 3.0 no permission is needed from a  central authority to post anything there is  

no central controlling node so no single point of  failure and no kill switch this is essentially the  

vision of web 3.0 a truly decentralized network  there's a common misconception that web 3.0 just  

means blockchain technology and cryptocurrencies  while blockchain technology is a vital part of  

the equation web 3.0 is much more than that so the  first point is openness and the network is built  

using open source software by a community  of developers in a full view of the world  

and then we also have trustless participants can  interact with each other privately or publicly  

without the need of a trusted third party and the  next one is permissionless anyone can participate  

in the network without requiring authorization  from a governing body and more importantly web  

3.0 will connect users like never before returning  the power of the internet to its true owners the  

people so it sounds pretty exciting right let's  look a bit deeper and see some of the key features  

of web 3.0 so let's first start with ubiquity and  ubiquity means being or having the capacity to be  

everywhere especially at the same time for example  web 2.0 is already ubiquitous a facebook user can  

instantly capture an image and share it it  becomes ubiquitous since it's available to  

anyone no matter where they are as long as they  have facebook access so web 3.0 simply takes this  

a step further by making the internet accessible  to everyone anywhere and at any time at some  

point internet connected devices will no longer be  concentrated on computers and smartphones like web  

2.0 since internet of things technology will bring  plenty of new types of smart devices with web 3.0  

content is accessible by multiple applications  every device is connected to the web and can  

be accessed anywhere so there's no need for a  middleman and in this case facebook as our example  

so the next point is the semantic web semantics  is the study of the relationship between words  

therefore the semantic web according to bernie's  lee enables computers to analyze loads of data  

from the web which includes content transactions  and links between persons so you may be asking to  

yourself how exactly would that work so let's take  a look at these two examples their syntax may be  

different but their semantics are pretty much the  same since semantics only deals with the meaning  

or emotion of the content currently the web  structure makes it easy for you to visit a webpage  

and understand what it's all about computers can't  do that a search engine might be able to scan  

for keywords but it cannot understand how those  keywords are used in the page's context appliance  

semantics in the web would enable machines to  decode meaning and emotions by analyzing data  

consequently internet users will have a better  experience driven by enhanced data connectivity  

and the next point is artificial intelligence  ai will play a crucial role in making the web  

semantic in web 3.0 computers can understand  and process information like humans in order to  

provide faster and more relevant results and they  become more intelligent to help the needs of users  

although web 2.0 presents similar capabilities  it is still mostly human-based which opens up  

room for corrupt behavior such as biased product  reviews and rigged ratings etc for example we all  

use amazon and we all read the reviews before  purchasing something unfortunately a company  

listing a new product on amazon can simply gather  a large number of people and pay them to create  

positive reviews for its under-deserving products  therefore the internet needs ai to learn how to  

distinguish the genuine from the fake in order  to provide reliable data also a few months ago  

google's ai system removed around a hundred  thousand negative reviews of the robinhood  

app from the play store following the gamestop  trading debacle when it detected attempts of  

rating manipulation intended to downvote the app  artificially this is ai in action which will soon  

easily fit into web 3.0 enabling blogs and other  online platforms to filter through data and tailor  

them to each user's liking as ai advances it will  ultimately be able to provide users with the best  

filtered and unbiased data ai will help websites  understand users better faster and smarter and  

the next one is spatial web and 3d graphics some  futurists also call web 3.0 the spatial web as it  

can virtually take you anywhere helping you learn  about different places and ideas by experiencing  

them as if you were actually there indeed this  vision forms from the basis of the metaverse  

which is a digital universe where people can work  play socialize and do business just as they would  

in the real life but without actually having  to travel anywhere for example with web 3.0 you  

won't have to travel hundreds of miles to another  city to examine a new house the web can allow you  

to search for things visually by pointing your  camera lens at them through augmented reality  

a good example of this is the google lens you  can search for things on google without having to  

type a single word you only have to scan an object  with the google lens and the web will do the rest  

and this brings us to the applications of web  3.0 so how can we apply web 3.0 to the real world  

in web 3.0 applications will run on decentralized  networks of numerous peer-to-peer nodes utilizing  

blockchain technology or combining the two with  no central server and a system that encourages  

equal network ownership users need no permission  to participate in the network web 3.0 is however  

best captured by cryptocurrencies these digital  tokens are one of the best representations of a  

departure from a central controlling authority  that is the central banks cryptocurrencies will  

be essential in creating financial incentives  for anyone willing to contribute or to improve  

a project so let's take a look at a few of the  web 3.0 applications that aim to disrupt the  

web's original disruptors the first one is stemid  which is a web 3.0 social network stemming is a  

social media platform where everyone gets paid  for creating and curating content stemming is  

decentralized with zero entry barriers that allow  users and creators to retain ownership over their  

content and earn a stake in the technology the  platform itself by adding valuable content to it  

instead of sharing and commenting on content for  free via a third party that mines and monetizes  

your personal data and uses proprietary algorithms  to decide who actually sees what you share stem it  

aims to provide a social news service where users  get paid to upvote comment and post with content  

creators earning reputation-based rewards and the  next one is store which is a web 3.0 cloud storage  

the future of cloud storage is decentralization  imagine being able to rent out your extra hard  

drive space through an autonomous network  and being paid for it in cryptocurrency  

well thanks to satoshi nakamoto and platforms  like store this is made possible store is a  

web 3.0 application which offers decentralized  secure cloud storage the fundamental technologies  

underlying store are encryption file shading in  hash table on blockchain to organize file storage  

in a peer-to-peer network web 3.0 cloud storage  offers superior privacy with lower vulnerability  

to hackers in government snoops files are stored  in small pieces across multiple hard drives so  

that only the owner has a complete copy the  next one is wolfram alpha which is a web 3.0  

search engine wolfram alpha is a computational  knowledge engine that answers your questions  

students and professionals from different  fields like mathematics nutrition science  

and others all use it this platform uses web 3.0  to gather information from databases across the  

web and simplify the information for end users  wolfram alpha answers your questions directly  

by computation as opposed to giving you a list of  web pages like search engines do so if you want a  

practical comparison search england vs brazil  on both wolfram alpha and google and see the  

difference google gives you the results of the  world cup even if you didn't include football as  

a keyword since it is the most popular search  and on alpha on the other hand would give you  

a detailed comparison of the two countries like  you asked and that's the key difference from web  

2.0 in web 3.0 the web 3.0 transformation has  already started the new internet will provide  

a more personal and customized experience a  smarter and more human-like search assistance  

and other decentralized benefits that hopefully  will help to establish a more equitable web so  

the only question that remains is do you want to  be just the user or do you want to be an owner