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The buzzword in tech right now is web 3.0. It's a web powered by Blockchain technology.
The only part of Blockchain technology that many users know or use is digital currencies i.e Bitcoin. Probably because of its monetary value. However, Blockchain tech provides solutions beyond digital currencies. It is a value-oriented platform for a new generation of the web.
Here are 10 Facts about Web 3.0 that you should know;
š Web 3.0 is the third generation of the world wide web.
š Web 3.0 is a decentralized system with greater utility for users.
š Web 3.0 gives power to you as a user of the internet.
š Web 3.0 gives ownership to users through NFTs, and digital currencies (Ethereum, Bitcoin, etc) but it's not limited to these.
š Web 3.0 gives users total control and privacy. Social media platforms cannot divulge your data without your permission which is based on tokens.
š Web 3.0 resolves the problem of payment in terms of a reward system. This is common in referral businesses. The problem of native payment is taken care of. There would be no need for a third-party agent to approve the payment.
š Web 3.0 is about community. It is not controlled by an individual. This is why it runs on Blockchain technology.
š Web 3.0 gives collective autonomy for users to own a platform.
š Web 3.0 disables the monopoly of data of internet users.
š Web 3.0 is used to administrate a decentralized autonomous organization for implementing smart contracts.
Thanks for reading.
