Although the exact timeline isn’t yet clear, Web 3.0 is on its way to becoming the next generation of the Internet. Inspired by blockchainA blockchain is a distributed database that is shared among the nodes of a computer network. Read More technology and the use of decentralizedDecentralization, an aspect of blockchain technology, facilitates power or authority distribution among individuals, groups, or institutions. A decentralized structure allows... Read More networks, the Internet is evolving to become more open, trustlessA trustless system means that the participants involved do not need to know or trust each other or a third... Read More, and permissionlessA permissionless blockchain is a distributed ledger that anyone can access and add transactions. There is no need for approval... Read More. The transition towards Web 3.0 will see the rise of peer-to-peer networks, substituting the need for third parties to facilitate interactions and exchanges. It will also see an increased use of AI to improve the speed, accuracy, relevance of data being presented to end-users. In short, Web 3.0 is expected to solve some important shortcomings of the Internet as we know it today.
