Web 3.0 concept
Web 3.0 is a next-generation Internet technology that relies on machine learning, artificial intelligence (AI) and blockchain technology.
The concept aims to create open, connected, smart sites and applications with improved machine data analysis. Decentralization and the digital economy are also integral features of Web 3.0, as they give value to the content created online.
How Web 3.0 works
Web 3.0 will quickly provide personalized and relevant information through the use of artificial intelligence and advanced machine learning techniques. Efficient search algorithms and advances in data analytics will allow computers to better understand user needs and recommend appropriate content. Web 3.0 will also focus on protecting the ownership of content and supporting an accessible digital economy.
How cryptocurrency fits into the Web 3.0 concept
Decentralized networks are successfully creating incentives for more responsible ownership, data management and content creation. Among the most important aspects for Web 3.0 are:
1. Digital crypto-purses. Any user can create a wallet and make transactions using it as a digital signature. The user gets full control over the wallet and can use the same wallet across multiple blockchains;
2. Decentralization. Open distribution of information and power to multiple people using a blockchain;
3. Digital economy. The ability to own data in blockchain and use decentralized transactions creates a new digital economy. This makes it easy to use and trade goods, services, and content online without having to specify bank or personal information;
4. Compatibility. Networked DApps and data are becoming increasingly interoperable. Blockchains built with the Ethereum virtual machine can easily support each other’s DApp applications, wallets and tokens.
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