Key Features of Web 3.0 and Blockchain
As Web 3.0 networks will operate through decentralized protocols — the founding blocks of blockchain and cryptocurrency technology — we can expect to see a strong convergence and symbiotic relationship between these three technologies and other fields. They will be interoperable, seamlessly integrated, automated through smart contracts and used to power anything from micro transactions in Africa, censorship-resistant P2P data file storage and sharing with applications like Filecoin, to completely changing every company conduct and operate their business. The current slew of DeFi protocols are just the tip of the iceberg.
Imagine a new type of internet that not only accurately interprets what you input. But actually understands everything you convey, whether through text, voice or other media. One where all content you consume is more tailored to you than ever before. We are at the tipping point of a new phase in the web’s evolution. Some early pioneers call it Web 3.0.
Arguably, there are a few early-stage Web 3.0 applications that already exist today. Until the new internet becomes fully embedded in the web infrastructure, their true potential cannot be observed.
But what exactly is Web 3.0, what will it look like and how will it change our lives?