Web3 is fresh out of the oven and soon it’s going to be the new default. But with most tech in the world, people still don’t know or understand what web3 is. The list of existing and flourishing web3 projects is already a bit extensive. Apps and protocols like Polygon, Harmony, or Axie Infinity attract not only enthusiasts but also people who are learning about web3 for the very first time.
Web3 projects are based on the fundamentals and principles of blockchain technology. They are decentralized and open. They don’t require any sort of permission from the user or developer. They don’t steal valuable information but instead, they reward user participation, development, and engagement.
The scope of web3 projects is broad. The list includes categories of apps and concepts like layer-2 scaling solutions, DeFi tools, stablecoins, NFT marketplaces, play-to-earn games, and interoperability protocols.
The internet has evolved rapidly in the past three decades. From the early days of web 1.0 where the internet was primarily used for sharing text information to today’s 3.0 which enables individuals to share and interact via audio, video, and images, the web has come a long way.
Web 3.0, also known as Web3 is the upcoming 3rd generation in the web evolution where apps and websites will be able to process information through advanced technologies such as machine learning and decentralized ledger technology. The ultimate goal of this technology is to create more intelligent, user-friendly, connected, and open websites. Web 3.0 is based on blockchain technology that combines concepts such as token-based economies and decentralization.
Web 3.0 is more advanced than the web 1.0 and 2.0 with enhanced data security, privacy, and more human-like interaction. One of the key advantages of web 3.0 technology is that the end users can take full ownership of their data and can choose which information they want to share with other businesses. Moreover, integration of web3 with smart IoT devices can help in improving the performance of the devices and providing better functionality. Web3 offers transparency for B2B businesses, helps sellers to offer better marketing strategies, and has fewer intermediaries.
Virtua (the world’s first immersive digital collectible metaverse) is a prime example of one of the projects powered by WEB 3.0. The development department at Big Immersive is all geared up and up to date with the tech to fully utilize the features Web 3.0 has to offer. Live and being constantly updated with content 24/7, Virtua is one of the few Web3 projects that are available to the public. You can visit Virtua here – https://virtua.com/
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