Chances are you have heard of Web 3.0 at some point because it is the newest form of the internet that is now continuing to develop itself in full. Web 3.0 is powered by blockchain technology and stems from Web 1.0 and Web 2.0, which may soon be seen as the “old internet”. In this article, we’ll explain a bit more about what Web 3.0 is and what cryptocurrencies are essential for it.
The History of the Internet
Before diving deeper into Web 3.0, let’s look at the internet’s history. This is important because Web 3.0 is a development that evolved from Web 1.0 and Web 2.0.
The internet was developed in the 1980s, after which people could visit websites in the 1990s. The websites of that time looked incredibly simply designed and had almost no functionalities as we know them today.
Websites back then were developed with programming languages like HTML, CSS and PHP. These are fairly standard programming languages with which not much is possible. For example, only a text or image could be displayed with HTML, after which the website could be formatted with CSS.
Think of the forming of blocks and giving colors. PHP was used to store data in a database, and to display this data when asked. Web 1.0 is the first form of the internet, and has little functionality other than displaying a website with information on it.
Websites like Facebook, Twitter and YouTube are part of Web 2.0. This is because users have the ability to interact with these websites, which allows them to communicate with other people. For example, on Facebook you can send a message to Facebook’s server, which makes the message visible to the addressee.
In this interaction era, people can upload a video to YouTube, allowing anyone in the world to view this video. So Web 2.0 is the basis of communication over the internet. However, Web 2.0 won’t be the last phase, because Web 3.0 is in full development.
What is Web 3.0?
Web 3.0 is a term by which we mean the new internet. It refers to a form of internet that is delivered by the blockchain. The blockchain is a network of thousands of computers connected to each other. Everything that happens on the blockchain internet is stored on these computers. As a result, there is not one specific party that has all the data.
Now you may be thinking that this is not exactly secure. Suppose you transfer money on the blockchain, this would mean that every computer could see your data. This is not entirely true. Only the rightful owner of data has access to it. This is because cryptography is used. Each user has its own public and private key. When you are in possession of the correct key combination, you can view data, and act as the owner of this data.
You can see the private and public keys as actual keys that give you access to the part of the blockchain that only you should have access to. This makes a blockchain a lot safer than the current internet we know as Web 2.0. Currently it’s the large companies – like Google, Facebook and Twitter – that own their users’ data. This data is stored on servers owned by these parties.
An important part of Web 3.0 is the metaverse, as many blockchain projects are developing a metaverse (or are developing something in a metaverse). The metaverse is a virtual 3D world that you can access through virtual reality (VR) glasses. This makes it seem as if you are actually in this world.
In the metaverse you can perform all kinds of activities. For example, it is possible to communicate and interact with other users, allowing you to hold a meeting in the metaverse. Or go to someone’s party, a live concert by your favorite artist, and you can shop in one of the many stores the metaverse offers.
What Are The Most Important Web 3.0 Cryptocurrencies?
It is primarily layer-1 blockchain projects that are important for Web 3.0. A layer-1 blockchain is the basis for crypto projects. For example, Bitcoin and Ethereum are a layer-1 project because they are developing their own blockchain.
Web 3.0 stems from the development of blockchains. So if you want to invest in a Web 3.0 crypto project, you might want to look at the following cryptocurrencies:
Web 3.0 is the newest form of the internet based on blockchain technology. It stems from Web 1.0 and Web 2.0, of which both focus mainly on creating websites and communicating between users and web servers. This made it possible for users to communicate with each other at one point.
An essential part of Web 3.0 is the metaverse. This is a virtual 3D world in which users can communicate and interact with other users through their avatar.
If you want to invest in Web 3.0 cryptocurrencies, looking at layer 1 blockchains, such as Ethereum, Solana, Avalanche and Polkadot, is best. After all, they are considered the foundation of Web 3.0 as it will look in the near future.