Web 3.0: The Web Transition Is Talk of the town!

“Web” refers to the World Wide Web (“WWW”), the internet’s core information retrieval system. The synonym “www” used to (and often still does) preface a web address and was one of the first characters typed into a Web browser when searching for a specific resource online.

Web 3.0 is the next iteration of the world wide web and the talk of the town. This shift from Web 1.0,2.0 to web 3.0 could be a potentially disruptive move over the internet. Undoubtedly the shift has become more adaptive and obvious these days for an outline that, “Web 3.0 is Decentralized and come with a Bottom-up Design”

When Web 1.0 was the age to retrieve static pages, web 2.0 was a paradigm for a shift of the internet to mobile users and social media. Though web 2.0 had seen immense popularity and adoption over the past two decades web 3.0 was also adopted by the industries, for a reason that, It was built on core concepts of decentralization, openness, and greater user utility.

What Changes can we see with Web 3.0?

A lot of blockchain companies are going to lead the evolution, through one or the other solutions. Ere this, a lot of payments would be moved through credit cards, Paypal, and many other payment gateways. Such payment companies were responsible for the movement of money from the remitter to the receiver. Keeping the thefts track as well with the transactions

With these payment gateways, the cost of transacting from one person to another cost high. Under such a situation transactions on cryptocurrency emerged with ease. With Cryptocurrency adoption all major security concerns and the cost of the transaction will also be a bit lower.

Some of the currencies that are currently being used around the world include Monero, Bitcoin, Cardano, Litecoin, and Stellar. All these Cryptocurrencies have their own fundamentals, pros, and cons.

But here is one of the most interesting one :

Stellar is an open network that facilitates storing and moving of money. The platform’s aim was to encourage financial inclusion by helping out the world’s unbanked people. However, later its priorities shifted to reach out to the financial institution’s bridge with one another via blockchain technology.

The network has its own native token Stellar Lumens (XLM) that acts as a bridge that makes the platform cost-efficient to trade tokens across the globe. This solves the existing problems associated with payment providers who often charge huge fees for similar kinds of services.

To utilize these cryptos as the payment methods and don’t trade one can have it in the wallet and not trade it on the exchanges like wazirx, bitfinex. This means you will still be able to use the methods that you are used to, rather than trading on the crypto exchanges that have been all over the place recently on the value of the coins.

While web 2.0 was an ear of mobile internet and social media, will it be used after implementing blockchain solutions?

A platform “steemit” driven by blockchain technology. Steemit is going to be the solution with its blockchain technology that is leading the way in social media development to web 3.0. This platform is one that has its own model that the creators of the content are curated by a group of peers. When the content gets upvoted by having good quality, it is going to cause a microtransaction of Steem, which is the currency that is used here.

With solutions like cryptocurrency and steemit, the world amid web 3.0 is going to be more secure and scandal-free.

Categories Finance

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