WEB 3.0 – A DIGITAL REVOLUTION

DOI

No DOI

Published In

Volume 3, Issue 6 (2022)

Published Online

November-December 2022

Pages

17-35

Article Type

Research Article

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Abstract: Over many years, the internet has grown rapidly. In its early stages, no one couldfully grasp its potential or how it would affect us. Computer networking in the 1960s and1970s was only allowed for academic and interpersonal communication. Commercial use wasnot allowed. The number of applications increased significantly as advancements were made,which is what got us to where we are today. Many businesses view technology as a valuableasset for increasing revenue and reducing expenses. The Web is acknowledged as thepublishing medium with the quickest rate of growth ever. For organizations, this abundanceof unstructured data opens them a wide range of new possibilities. The Web has developed inits own particular style and serves as a catalyst for technical growth. Web 3.0, the thirditeration of the internet, combines a variety of disruptive technologies, including blockchain,augmented reality, virtual reality, cloud computing, IoT, geolocation technology, 5G, anddigital twins, and it is powered by an AI-based analytics layer that enables data-driveninsights. Through mathematical evidence and smart contracts, the underlying blockchaintechnology facilitates trust. As a result, networks may be created with little administrativeexpertise, assisting in the development of the new internet economy as a whole or asindividuals rather than succumbing to the centralized management of powerful techcompanies. The impressive capabilities of Web 3.0, such as its ability to understandinformation like a human through hyper-intelligent networks, combined with an underpinning secure digital ledger layer to track financial interactions, and the convergence of AI and 5Gtelecommunications, will open new doors for the digital ecosystem's development andexploration. The Semantic Web as it was first imagined by Berners-Lee in 2001 hassignificantly evolved with the advent of Web 3.0. This is due in part to the fact that translatinghuman language, with all of its nuanced variations, into a format that computers can easilyunderstand is incredibly expensive and extremely complex, as well as the fact that Web 2.0has advanced significantly over the previous 20 years. The whole research paper is dividedinto six parts. The first section focuses on the expansion and the dynamic features of Web 3.0Technology. The purpose of the second part is to comprehend and envision the developmentof the web from its inception to the anticipated advancements in web technology. The thirdpart highlights the Top 5 Web 3.0 Technology in the real world. The fourth part focuses onthe development and the architecture of Web 3.0 Technology. The fifth part highlights theimportance of Data Storage and how is data stored in Web 3.0 technology. The sixth partdeals enlist the advantages and disadvantages of the Web 3.0 technology. The seventh part deals with various use cases and application of this Digital Revolution.