Web 3.0

The New Internet
Web 3.0?

What is Internet?
It is a vast connection of networks (Computers) across the world
through which one can communicate with each other and transfer information.

Then what is WEB 3.0?
It is the 3rd Iteration (Generation) of the Internet.

before studying what actually web 3.0 is and how it works. We must have a brief knowledge of earlier generations of the internet i.e Web 1.0 and Web 2.0.

WEB 1.0

— Read-only web
It is a decentralized collection of static web pages where one can read the information that someone has put on it.

Arngren.net is an example of Web 1.0.

Web 1.0

WEB 2.0

— Read-Write web
It offers interactive web pages where one can interact with the application. A user can read from the website and also can interact with it by writing comments, liking the post, and many more.

Facebook, Instagram, and Youtube are some examples of Web 2.0.

WEB 3.0

— Read-Write-Own web
Also known as the new internet, decentralizing your data
it transfers some of the ownership of the data through tokens that
you can trade further.

Cosmos, Audius, and Cashaa are some examples of Web 3.0.

Why is there a need for Web 3.0?
One of the biggest problems with web 2.0 is the ownership of data. Your data is owned by some big tech giants — Google, Facebook etc around the world and they can trade that data without your consent for their benefit.

If you further want to know how these companies trade your data for their benefit you can click on the link below.
Click-Me

“If you are not paying for the product
then you are the product — source unknown”

Block-Chain Technology

Web 3.0 is completely based on blockchain technology.

What is Blockchain?
Blockchain is a complete system of recording information in a way that makes it difficult or next to impossible to make any changes.

Why is there a need for Blockchain technology to store information?
Let's take an example —
suppose traditionally you stores data of transaction or some important data in a ledger. The biggest problem with that is, that it can be easily modified. In short, the data inside it is not secure.

To tackle this problem some techniques are introduced —
one of those in Encryption.

Encryption is a technique to encode information.
Hey Folks → mjd ktqpx
here above text[information] is converted into some random text so that no one would understand that except the one with the Encryption key.
But the biggest problem with this is going forward and backward
[Encryption → Decryption] is possible and one can easily know which key replaces the actual letter.
in the above example [H → m], [e → j] using this one can easily decrypt any given set of information.

Hashing is also a technique to encrypt the information using some mathematical functions.
It creates some mumbo-jumbo[confusing string]
One of the famous hash in the market is the Md5 hashing algorithm that with the help of complex mathematical functions creates a hash.
Hey Folks → 7484b5efa60e7f73d1fa463b811d938e.

Hashing is also known as a one-way function. In this going forward is easy
for eg — 2*4 = 8, but going backward with the result is a little difficult as 8 has multiple factors [1,2,4 and 8] to get the result you have to brute force it. You have to divide every number which is completely divisible by 8.

now suppose the output is 235647 or 46356857463 then to brute force it to get its factors and create a combination needs a lot of computational power and Energy and real world cryptos have 100’s of digits in them.
Click-Me