What Is Web 3.0 Blockchain Technology All About And Why It Matters In 2022

It seems everyone is talking about Web 3.0 in recent times. Apparently, not everyone knows about this technology. I have come across folks asking questions like what is web 3? What is web 3 all about? How can we access web 3? And some other related questions about the recent technology.

Now, to start with, web 3 represents the future of technology.

It is, without doubt, the next future generation of the internet.

Its primary goal is to shift the power of Technology and the internet from giant Tech organizations like Google, Meta, Amazon, and Microsoft, to individuals like you and me.

Web 3 is also referred to as web3 or web 3.0. The three are all the same and they can be used interchangeably.

Presently, we are using web 2.0 as the generation of web 1.0 is long gone.

We will be considering web 3.0 fully in this article. Follow me to the end because, in the end, you will really know what web 3.0 is.

Web 3.0 Tutorial/Topics – What Is Web 3.0 Definition?

Web 3.0 is the future of the internet. It is a Decentralized internet that is built on the Blockchain technology.

This technology is aimed to bring about the third generation of internet services i.e the next evolution of the internet with highly developed intelligence for security and for performing activities without interruptions on the internet.

This technology uses blockchain technology and decentralization tools.

Unlike web 2.0 where you do not own or control most of your contents online, web 3.0 ensures that you have control over your contents online.

It ensures that your content is not owned by any big Tech companies like Google, Meta, Amazon, etc who monitor and sell your activities online for some profit.

Here, the internet is controlled and owned by its builders and users, it is a Decentralized technology and not a centralized one.

In web 3.0, we will reach the point of the internet where every company will be run by a Decentralized Group called the DAO (Decentralized Autonomous Organization).

This means that there will be no superior like a CEO, President, or Boss as the company’s or Organization’s changes are made effective by the majority of those who vote. An example of this is related to how the recently bought Twitter by Elon Musk was made effective by people’s vote on the platform and not by only one person’s influence or opinion.

Also, in web 3.0, everyone is equal and has access to participate in whatsoever activities they want to join without any limitation whatsoever. Also, everyone is free, in fact, web 3.0 is a total phase of the internet where everyone is free and equal.

As it stands, in web 3.0, payments and financial activities will be carried out efficiently without hindrances, as it is based on the platform of using Cryptocurrencies such as Ethereum, to send and receive payments online.

Note that one of the aims of web 3.0 is to make available one currency for payment online in just one click as the paper money used by different countries might be useless as far as web 3 is concerned.

In web 3.0, your digital identity might not in any way tally with your real-world identity. This means you can be on the web 3.0 without your acquaintances being aware of it.

This also means you can do a whole lot of things like buying on the internet, visiting pages on the web, and downloading stuff on the internet without being traced.

Web 3.0 might be a way of disassembling Giant Centralized companies like Google, Facebook, Microsoft, and the likes in the future as the decentralized pattern will be in high demand and used by people.

List Of Top 8 Best Web 3.0 Companies To Invest [2022]

The top 8 best web 3.0 companies to invest in right now are;

1. OpenSea
2. Binance
3. MetaMask
4. Coinbase
5. Crypto.com
6. Alchemy
7. Decentology
8. Polygon

List Of Top 5 Best Web 3.0 Cryptocurrencies [2022]

Web 3.0 undoubtedly has its own Crypto. The answer to the question what is web 3.0 will not be complete if we don’t take into consideration the top web3.0 Cryptocurrencies. The top 5 Web3 Crypto are:

1. Helium
2. Chainlink
3. Audius
4. Theta
5. Kadena

What Is Web 3.0 Frequently Asked Questions

As many people until today don’t really know what web 3 is, they tend to ask questions upon questions just to know more about what is referred to as the future of the internet.

Below, you will find some of the frequently asked questions concerning web3

What Problem Is Web 3.0 Solving?

Web 3 will be solving the problem of personal privacy and asset ownership. This means that your online activities will not be monitored by any Centralized company that sells your data information for money.

And also, you will have control of whatsoever information you put on the internet and the choice of choosing a company you want to sell your data to for some cash.

Also, instead of you being attached to an email address, you could be attached to a wallet address like MetaMask or a domain that points to your wallet address through which all of your actions on the internet can only be confirmed by you and you alone.

Nobody else could use your identity unless they have your private keys or your secret recovery phrase.

Will Everything Be Web 3?

No, not everything will be web 3 as it won’t make any sense for some things to be web 3.

Will Web 3 Make Me Rich?

Using statistics, web 3 will probably not make you rich.

But if you are a web 3 developer and make some services available on web 3 which people love and use often, you might get yourself some good revenue via web 3.

How Hard It Is To Be A Web 3.0 Developer?

Having a knowledge of programming will really help as it is easy to switch from regular programming to web 3 programming. You only have to learn some new ideas and concepts, then you are good to go.

On the other hand, if you don’t have a prior base knowledge of normal programming, being a web3 developer might be hard for you.

What Does A Web 3.0 Developer Get Paid?

This is based on your skills, portfolio, and your ability to market yourself.

But the salary of a web 3.0 developer falls in the range of $60,000/year or $100,000/year or $250,000/year, all based on the criteria listed above.

Conclusion

It is good you know about the latest in the world of Tech and especially, what is going to happen in the future.

I think the question of what web 3 is has been answered. It is based on blockchain technology and it is the future of the internet we are using right now.

Many projects had been developed and many are under development as far as web 3 is concerned, only that Centralized companies might be affected in the long run if no pertinent step is taken.

You should know that if you want to know about Web 3, you have to have the base knowledge of Cryptocurrency and blockchain, which will foster your quick and easy understanding of the technology.

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