Web 3.0 powers the interactive virtual world

Summary

Web 3.0 is characterized by use of artificial intelligence, virtual immersion and the blockchain

It promotes transparency and immutability .

Web 3.0 enhances social connectedness and greater user-utility

Web 3.0 is an internet where there are peer-to-peer transactions, decentralized technology, privacy, user-controlled data and monetization of activities. It is a democratic and decentralized internet, driven by advanced technology which entails machine learning, blockchain and internet of things (IoT) among others. We can best understand web 3.0 by analyzing web 1.0 and web 2.0.


Web 1.0: This refers to the type of internet which we had from the beginning with static HMTL WebPages where people could browse and read without any interaction. Website owners created the content which the audience could only read without responding to. That is why analysts refer to it as “Read-only web.”

Web 2.0: After web 1.0 we had web 2.0, which has far more advanced features and functionalities. It enabled people to read and write, meaning that there is collaboration between content creators and the audience. As a result, many collaborative platforms came into existence. It is during this period that social media platforms like Facebook, Twitter and some service-based applications were introduced.


Web 3.0 Layers

To gain a greater understanding of web 3.0, let’s discuss its layers which include artificial intelligence and decentralized data networks.

Artificial intelligence: Artificial intelligence (AI), also called machine learning, is the use of machines to learn from past experiences and collect essential inputs which make it possible for them to perform human-like tasks. For example, this has resulted in player versus environment and player versus player games.

Decentralized data network is a system where various computers share information processing as opposed to the use of a central server. In fact, each one of these computers or nodes acts as a data processing unit which, however, interacts with the rest of the nodes. As a result, users interact with one another directly without involving intermediaries which increases privacy.

Virtual immersions: Web 3.0 uses 3 D graphics and virtual reality technologies in a way that reduces the distance between the physical and virtual worlds. This immersive or interactive technology creates a novel way of acquiring and using products and services.


Secure and ubiquitous data: Although the decentralized technology creates the capacity to connect many platforms and applications, it securely stores data. This is because there are no intermediaries and centralized servers which may fail at any time.

Semantic web: The web 3.0 architecture enables wide connection of web services and various contextual data leading to unprecedented data connectivity. This is a departure from the web 2.0’s dependence on key words and identifiable numerical values.

Benefits of using Web 3.0

Now that we have a general understanding of what Web 3.0 is, we need to discuss some benefits we derive from it.

For certain, Web 3.0 opens new ways of interacting with others and of doing business on a global scale. Most of the unique benefits arise from the decentralized data network or the blockchain technology.
Transparency and immutability: All the transactions that are carried out on the blockchain are permanently recorded and no one can alter them. As a result, anyone can access the data at any time.

Trustless: This means that users of a blockchain based systems do not need to know each other in order to make transactions. The reason for this is that there is no single entity which controls the system.

More importantly, the parties can enter into a consensus without even knowing one another. They do this because they trust the system rather than the individual participants.

Permissionless: The web 3.0 allows the various participants to interact with one another without involving any central authorities or intermediaries. In other words everyone has an equal chance to participate without restrictions from any other parties.

Use cases

There are various ways in which Web 3.0 functionalities are driving the current crypto economy through integrating different products and websites.


Gate.io is highly integrated with other websites and platforms to provide seamless services to the users. For example, there is an NFT Marketplace which is flourishing as a result of the integration with various platforms, such as Sandbox which have their tokens on Gate.io. As such, traders can buy and sell the tokens, such as SAND under “Spot Trade”. In this case, SAND is paired with USDT, USD and ETH.

However, there are many other pairs which users can trade.

Integration with other platforms has not only resulted in spot trading, but other services which include margin trading, perpetual, flash swap, CBBC and options.

The marketing activities of Gate.io are possible and successful because of web 3.0 functionalities. For instance, there are market price and market tracker services, where traders access the listed tokens and get feedback on how they are performing. This helps traders to make the right investment decisions.

Another important aspect of Gate.io is the news section, where there is chatroom, livestream and GatePodcast. These news aspects are integrated into a single platform where the users easily access them.
There is no question that Web 3.0 features have improved the services which Gate.io is offering. We have other more general services such as API, Cryptopedia, verification search, coin listing and voting activities which institutions and individuals can benefit from.

Conclusion

The web 3.0 brings new experiences and helps in creating a unified global economy. And in particular, the blockchain has resulted in great transformation in the business sector. We have examples of global companies like Gate.io making a worldwide contribution to the welfare of people across all geographical boundaries and national divides.

By Mashell. C, Gate.io Researcher
This article represents only the views of the researcher and does not constitute any investment suggestions.
Gate.io reserves all rights to this article. Reposting of the article will be permitted provided Gate.io is referenced. In all cases, legal action will be taken due to copyright infringement.