The difference between moving $300 on Ethereum network at $170 USD cost, versus $1000 USD for less than 0.001cents on solanas ecosystem
The internet, defined as a global network of computer networks, is one of the most powerful inventions throughout human history. The ability for one computing device to connect to another device has advanced human collaboration and interaction. Emails, social media, online banking, global marketplace, and multimedia streaming services are some of the benefits derived from the Internet today. Indeed, the acceleration in human technological development in the last few decades has been greatly influenced by the Internet.
Evolution of The World Wide Web
Many people use the phrase 'World Wide Web' (Web, for short) and internet interchangeably, but they are not the same. The internet in itself is the collection of computing devices and the infrastructure that makes their interconnection possible. On the other hand, the Web refers to the network of services and collection of information that are accessible over the internet
People primarily use the World Wide Web to share information and interact with others. However, the Web as we know it today has evolved over the years. When the World Wide Web was proposed in 1989 by its inventor Tim Berners-Lee, it was in a crude form and mainly text-based with virtually no multimedia capability. In the modern-day, we have Web 3.0, which is essentially further evolution that will make the Internet intelligent in new innovative methods. Let’s now take a look at how the Internet Web has evolved over the years. We will also take note of features that characterize the different epochs of the Web.
Web 1.0 - Read-only experience
The chances are that if you were taken back to the Web 1.0 era, it would seem to be archaic and ineffective. In those days, websites were limited in their function. Visiting a website was a read-only experience with not much room for users to interact with the web content. The static nature of websites made some people refer to Web 1.0 as the Static Web.
The operation of Web 1.0 was relatively centralized. Web content was at the discretion of the content producers (owners of the website) with almost no input from the users. Visitors to those websites merely came to read the information presented by the site's owners. Web 1.0 is generally considered to have consisted of the years 1989 through 2000.
Web 2.0 - Emphasis on users interacting with a website
Towards the end of the 1990s, websites started becoming more dynamic. They progressed from being read-only to being read-and-write. Features that allowed users to interact with websites were gradually incorporated. Users could now upload their content to a website which gave room for Social Media platforms to spring up. In addition to users interacting with a website, Web 2.0 made it possible for different websites and web applications to interact and share data.
Web 2.0 placed more emphasis on users interacting with a website rather than just observing or reading it. Websites were built around the users. Technologies that facilitated this era are HTML5 and CSS3 among other developments. Notable platforms that helped define Web 2.0 as the Social Web era are Facebook, Twitter, and YouTube.
Web 2.0 contained many improvements over Web 1.0, but it was very much centralized. Though users could contribute data to the web content, such data was in the firm control of the website's owner or host. Content could be easily removed if it went against the terms of the website. Although the lines that separate each era are blurry, the consensus is that Web 2.0 was the predominant form of the Internet Web between 2000 and 2010.
Web 3.0 - Age of the intelligent web
This is the age of the intelligent web. Previously, the Internet was only concerned with working on static data. Currently, intelligent algorithms are now embedded in Internet systems and can interpret data and deliver services in a more structured and personalized form for each user. These algorithms analyze users' historical Internet data and use it to improve subsequent Web-browsing experience. Let’s dive into these upgrades and how they affected users.
Many shoppers visit the websites of online shops to make online purchases. If the website recommends another item to you as an item other people bought after buying the original item you had in mind, you just experienced Web 3.0. There are also other instances that an advert pops up while we are surfing the web. If those adverts are about a service in the area you live in, it means that the system has analyzed information about you and proposed a service personalized to your location. Machine learning, neural networks, and artificial intelligence, the Internet of Things (IoT) etc., are some of the technologies that are characteristic of Web 3.0.
Web 3.0 is driven by protocols that prioritize privacy and decentralization. Users will have greater control over their data. Coming at around the same time that blockchain and decentralized finance emerged, Web 3.0 supports decentralized applications and smart contracts. In many respects, Web 3.0 is the internet democratized.
The Web 3.0 phase began around 2010 and spans until the current date, but already there are talks of a Web 4.0. This development speed is an indicator of how fast technology can evolve, especially as worldwide access is at its highest point ever seen to this time. While many websites are already running Web 3.0 protocols, some are still stuck in Web 2.0, while others are jumping ahead into a new defining Web 4.0 era, creating a strange divergence between websites and platforms.
What is a blockchain?
Blockchain technology is a peer-to-peer network that keeps track of transactions and information in chains. By using a cryptographic hash, the blocks are joined together in a single list called a chain, making the records impossible to change and providing a stable data structure.
A complete copy of the blockchain is maintained by all parties involved in verifying a transaction, as well as a large number of third parties, resulting in a secure and distributed network.
What role does Blockchain Technology play in Web 3.0?
When talking about Web 3.0, it’s important to note blockchain technology, which serves as its base. Blockchain technology, also known as Distributed Ledger Technology, adds tremendous value to Web 3.0’s core functionality while addressing many of Web 2.0’s flaws. To put it another way, blockchain technology is the guiding force behind Web 3.0, which allows previously impossible tasks to be accomplished.
Web 3.0 would impact our lives in a variety of ways. None of these developments, however, would be possible without blockchain technology, which serves as the foundation of this new internet.
Now is the perfect time for entrepreneurs, developers, investors, and even ordinary Internet users to not only learn about but also to take advantage of, the possibilities presented by these decentralized technologies.
Blockchain and Web 3.0
We can discover the link between blockchain technology and Web 3.0, which aims to revolutionize the internet and the world of finance, by understanding the basic idea behind blockchain technology, its forms, and the components that enable it.
Feature 1 - Amazing Privacy, data protection, and transparency
Web 3.0, which aims to provide a decentralized means of protecting internet data, promises to provide greater online privacy and protection than Web 2.0.
Feature 2 - Crypto enabled businesses
Another way Web 3.0 brings value to the internet is by enabling cryptocurrency, which is commonly known as the currency of the future. Web 3.0 allows payment networks to conduct transactions such as money transfers, real estate registrations, and more without the need for an intermediary such as banks, agencies, and so on.
Feature 3 - Internet of things
Another ground-breaking feature of Web 3.0 is the Internet of Things (IoT). Consumers can command a range of connected devices, such as vehicles, smart refrigerators, smart TVs, lamps, and more, to perform a variety of tasks over the internet in a fraction of a second using just a smart device. Web 3.0 also incorporates artificial intelligence (AI) and virtual reality (VR) to boost the internet user experience.
Possibilities are endless
With groundbreaking Blockchain Technology, the possibilities in Web 3.0 are infinite. The blockchain concept was developed to build a decentralized database that is kept up to date by anonymous consensus. The most obvious similarity between blockchain and Web 3.0 is that they both make it easier to move from a client-server to a decentralized network.
4 ways that Solana Fits in with it all?
1. The Next Web 3.0 Social Media Will Be Built on Solana
Coincidently, the price of Solana reached an all-time high of $260 on November 7th, the opening day of Breakpoint 2021. What’s more, Solana is gaining a reputation for its future use case, fitting the characteristics upon which Web 3.0 social networks can be built.
Reddit’s co-founder, and the founder of Seven Seven Six Ventures, Alexis Ohanian, stated on Monday, during the Solana conference, that the latter company will be creating a $50 million fund to develop social media projects on Solana.
His statement comes a day after Sam-Bankman Fried also identified Solana as the future hub for Web 3.0 gaming and social media.
According to TheBlockCrypto, Bankman stated that social media on blockchain could be “absolutely huge.”
In truth, everyone believes that Web 3.0 can improve the quality of our digital interactions and create a more collaborative internet. However, it would require a decentralized structure to not fall into the same pitfalls as centralized Web 2.0 governors, such as Facebook, who rebranded to “Meta,” did.
2. Opera Partners With Solana To Bring Its Web 3.0. Network to Mobile to attract 1 billion users.
Opera stated that Solana’s blockchain has the advantage of great speed and low transaction fees. Fees on Solana cost are as low as $0.00025, allowing users to scale their projects. In addition, they called Solana the “most performant” blockchain, which gives developers long-term confidence in rising. At the same time, it does not compromise security.
Problem Solana solves for Opera: These advantages could help attract more people to Web 3.0. In particular,
compared to Ethereum’s high gas fees, Solana offers a lower barrier to entry for new users.
It also allows smaller DApp developers to begin operations without much capital.
Opera joins forces with Solana! The integration will enable Opera Android users to enjoy seamless access to Solana DApps alongside low-fees and fast transactions within the ecosystem. You’ll be able to access it through Opera in Q1 2022.
The path to 1 billion users can’t be built by just two or three platforms. This integration will give tens of millions of new users even more choices of how to connect to Solana and work to keep the dream of the open web alive and well. The mobile web3 revolution has barely just begun, and Opera is helping lead the way.
Solana has the goal of onboarding one billion people to crypto. That’s a goal we share. No other browser company has been at the forefront of web3 as early on as Opera. We are thrilled to be collaborating moving forward.
3. Solana Ventures launch $100M Web 3.0 growth fund
Alexis Ohanian and Venture capital funds are eyeing Web 3.0-powered social networks as the next major growth vector in crypto and blockchain.
Reddit co-founder Alexis Ohanian has teamed up with Solana Ventures to launch a new investment fund dedicated to Web 3.0 and social projects, potentially setting the stage for the next wave of budding crypto startups.
4. Will this replace facebook?!
Centralized social media platforms such as Facebook are said to generate hundreds of billions of dollars in annual revenue, mostly through advertising and without rewarding content creators for their contributions. While efforts to “decentralize” social media have been underway since at least 2017, no blockchain-based social project has reached mainstream adoption.
Seven Seven Six and Solana Ventures said they will prioritize technologies and applications that "[eliminate] value extraction from centralized intermediaries.”
CALL TO ACTION
Learn how to become a blockchain professional
the next step is to figure out how to learn blockchain. Blockchain certification courses are a common option since they are both short-term and flexible. The Certified Blockchain Professional training program from blockchain councils focuses on the information and skills you’ll need to get a job, all bundled in a versatile learning module that suits your schedule.
Over the years, we have witnessed a steady evolution of the Web. The internet has developed in alignment with our needs, uses, and innovation in other sectors. Evolution in Internet Web technology has ushered us into the era of Web 3.0, of which customized browsing, IoT, and decentralization are the hallmark applications. These applications have made life easier and have transitioned many tasks into an internet-based setting. As more providers and developers continue to deploy Web 3.0 compliant platforms, technology is already moving towards the next epoch in the history of the Internet Web.
Looking at the rate at which technological innovation is growing, it is safe to assume that the growth of the internet web will not slow down. We will likely see Web 3.0 become fully established in the very near future, especially in the IoT sector. Devices that we usually would not associate with online activity today will become a part of IoT infrastructure. Decentralized applications (DAPPS) will make blockchain a part of our everyday life.
The possibilities are truly endless. And when you get to the point where Web 3.0 has blown your mind with its possibilities, Web 4.0 will come knocking on your door. See our article on building a future-proof web platform as tech becomes a race to the bottom for price and integration.
We have done our best to reference everyone’s expert opinions, peer-reviewed science, and original thoughts, HIGHLIGHTED IN THE TEXT.
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