Web 3.0 : Know The Pros & Cons
Web 3 has driven various advancements and a number of real-world problem-solving arrangements. In any case, their genuine potential cannot be figured it out until the modern innovation is completely coordinated into the internet infrastructure. Web3 is another cycle of the web. It intensely depends on blockchain innovation, machine learning, and artificial intelligence (AI).
It points to making a decentralized web with open, associated, shrewd websites and web applications. The term Web3 was presented by Polkadot author and Ethereum co-founder Gavin Wood in 2014. His thought of Web3 alludes to a ‘decentralized online biological system based on blockchain.’ While Web 2.0 focuses on interactive websites and user-created content hosted on centralized websites.
Pros of Web 3.0
1. Data Ownership
In Web 2.0, big tech companies control and exploit user data. In a blockchain-powered web3, users will own the data they use. You will be able to choose which information you want to share with businesses and advertising companies and make money from it. Web3 will not be controlled by a single entity, so decentralized apps (dApps) will not be censored or restricted.
2. Fewer Intermediaries
Web3-based blockchain technology will allow companies to connect with their customers directly. There will be very few or no central authorities that will receive a share of the proceeds from electronic transactions.
3. Transparency
The decentralized web will enable users to track their data and look over the source code of the platforms they decide to utilize. All the stakeholders will always be aware of the value and commerce they are associated with. You will not need to rely on a middleman for access to this data.
4. Efficient searching and information linking
In Web3, you will be able to search for information more efficiently. When you will search for something on a search engine, it will show you more relevant search results instead of showing you the most popular pages that people click. The semantic web will help in better connectivity of online data.
Cons of Web 3.0
1. Rise In Cyber Crime
According to some experts, regulating Web 3 would be difficult. They further claim that decentralization can bring new types of cyber-crime into the picture. It might lead to an increase in cyber-crime and online abuse, among other things.
2. Requirement For A Stronger Platform
Web 3 will be inaccessible to less advanced gadgets. “Web 3 will require a faster processing unit. Web 3 will be incompatible with older devices. You’ll need upgraded devices with above-average specs. Existing businesses based on apps and websites will need to adapt to Web 3, and investment will be required to be relevant in the competitive markets. It can be challenging for newcomers to understand and use Web 3,” says Seinberg.
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