CoinMarketCap’s Homepage Gets a New Face
CoinMarketCap’s Homepage Gets a New Face
December 9, 2021
Binance Coin
Everything About Binance Coin
December 14, 2021

what is Web3

what is Web3

The Semantic Web (sometimes known as Web 3.0) is an extension of the World Wide Web through standards set by the World Wide Web Consortium (W3C). The goal of the Semantic Web is to make Internet data machine-readable.

To enable the encoding of semantics with the data, technologies such as Resource Description Framework (RDF) and Web Ontology Language (OWL) are used. These technologies are used to formally represent metadata. For example, ontology can describe concepts, relationships between entities, and categories of things. These embedded semantics offer significant advantages such as reasoning over data and operating with heterogeneous data sources.

These standards promote common data formats and exchange protocols on the Web, fundamentally the RDF. According to the W3C, “The Semantic Web provides a common framework that allows data to be shared and reused across application, enterprise, and community boundaries.” The Semantic Web is therefore regarded as an integrator across different content and information applications and systems.

The term was coined by Tim Berners-Lee for a web of data (or data web) that can be processed by machines—that is, one in which much of the meaning is machine-readable. While its critics have questioned its feasibility, proponents argue that applications in library and information science, industry, biology and human sciences research have already proven the validity of the original concept.

Berners-Lee originally expressed his vision of the Semantic Web in 1999 as follows:

I have a dream for the Web [in which computers] become capable of analyzing all the data on the Web – the content, links, and transactions between people and computers. A “Semantic Web”, which makes this possible, has yet to emerge, but when it does, the day-to-day mechanisms of trade, bureaucracy and our daily lives will be handled by machines talking to machines. The “intelligent agents” people have touted for ages will finally materialize.

The 2001 Scientific American article by Berners-Lee, Hendler, and Lassila described an expected evolution of the existing Web to a Semantic Web. In 2006, Berners-Lee and colleagues stated that: “This simple idea…remains largely unrealized”.In 2013, more than four million Web domains (out of roughly 250 million total) contained Semantic Web markup.

Web 1.0 and Web 2.0 refer to eras in the history of the Internet as it evolved through various technologies and formats. Web 1.0 refers roughly to the period from 1991 to 2004, where the vast majority of Internet users were solely consumers of content. Most websites were static pages that displayed content from the server filesystem rather than a database. Web 2.0 is based around the idea of “the web as platform”.Far more users of the Internet produce content, which they upload to social networking services, blogs, or video or image sharing websites. Many web pages are dynamic and serve content from relational databases, or are full-featured web applications. Web 2.0 is generally considered to have begun around 2004, and continues to the current day.

Web3 is distinguished from a concept for a semantic web created in 1999 by Tim Berners-Lee, which has also been called “Web 3.0”.Some writers referring to the decentralized concept usually known as “Web3” have used the terminology “Web 3.0”, leading to some confusion between the two concepts; furthermore, some visions of Web3 also incorporate ideas relating to the semantic web.

The term “Web3”, specifically “Web 3.0”, was coined by Ethereum co-founder and Polkadot creator Gavin Wood in 2014.In 2020 and 2021, the idea of Web3 gained popularity. Particular interest spiked towards the end of 2021, largely due to interest from cryptocurrency enthusiasts and investments from high-profile technologists and companies. Executives from venture capital firm Andreessen Horowitz travelled to Washington, D.C. in October 2021 to lobby for the idea as a potential solution to questions about Internet regulation with which policymakers have been grappling. Some companies including Reddit and Discord were reported to be exploring incorporating Web3 technologies into their platforms in late 2021,however Discord later announced they had no plans to integrate Web3 technologies amidst heavy user backlash.

Web3 revolves around the idea of a decentralized Internet. Proponents often contrast this to Web 2.0, where large amounts of the web’s data and content are centralized in a fairly small group of companies (often referred to as Big Tech).

Specific visions for Web3 differ, but all are heavily based in blockchain technologies, such as various cryptocurrencies and non-fungible tokens (NFTs). Some visions are based around the concepts of decentralized autonomous organizations (DAOs), which seek to enable many people to have equal ownership and governance in an organization. Decentralized finance (DeFi) is another key concept, in which users exchange currency without bank or government involvement. Self-sovereign identity allows users to identify themselves without relying on a centralized authentication system like OAuth

Leave a Reply

Your email address will not be published. Required fields are marked *