The advent of the Internet led to the emergence of the most important technological revolution known to mankind, which is the Internet that broke down geographical barriers and made access to information faster and easier and connected users in ways that were previously unimaginable, until the world reached the new internet revolution known as Web 3.0, which represents the future of the World Wide Web, especially as control of the World Wide Web and personal data of users has passed almost completely into the hands of many large companies, but with the emergence of the new generation carrying a new concept, which is the decentralization of the internet, the situation is on the path of correcting and bringing about comprehensive change.
With a quick look at the different generations of the internet, the first generation of the internet started in the late 1990s where it was based on static websites and users were not able to actively interact with each other through the internet, which was somewhat limited to HTML Websites that consisted mostly of news articles or non-interactive content, until the advent of the second internet revolution, Web 2.0, which would allow individuals to participate in a more interactive web and would lead to the birth of social networking while at the same time increasing the focus on user-created content and the possibility of interaction between sites and applications. With this growth, new business and business models were born from social networks to mobile applications, until finally the third generation of the Internet, Web 3.0, appeared.
In terms of investment and Web 3.0 market size, the global market size reached $ 3.2 billion in 2021 and is expected to record a composite annual growth rate of 43.7%, which is a very large percentage, reflecting the extent of the huge growth of the new generation of web, and according to another Analysis by Emergen Research, an increase in demand for more user-oriented, interactive, advanced and secure technologies, and increased initiatives by governments in different countries to Develop new technologies, such as Web 3.0 to enable better transparency for users are some of the key factors that are expected to drive growth. The global Web 3.0 market has been largely over the forecast period until 2030 and will have a market size of $ 81.5 billion, reflecting growth Demand for improved user experience and growing related advances are among the factors driving growth Web Market Revenue 3.0.
Web 3.0 is based on blockchain or Blockchain technology, which has promoted the emergence of the idea of decentralized management and economics based on NFT arguments, and experts point out that Web 3.0 will increase security, privacy and scalability in other areas and combat corporate dominance technology and it is expected that Web 3.0 or the third version of the Internet is a paradigm shift in the way browsing, interaction on social networks, or even shopping and e-commerce, while Web 2.0 improves Internet communication and interaction, Web 3.0 will focus in improving personalization, collective ownership and content sharing, the updated version of the internet will use blockchain and allow the internet to be supported by decentralized networks. As a result, website owners will no longer need to rely on servers owned by large companies.
Currently, the user receives information from the Internet through various servers and databases located in different parts of the world, and half of them are wholly owned by technology giant companies such as Amazon, Google and Microsoft. , but in Web 3.0 data will be stored in decentralized cloud networks and standalone storage, while relying on the support of machine learning, artificial intelligence and blockchain technologies, this ensures secure communication between individuals, in addition, customers maintain privacy of their data and control or trade it without losing ownership and Web 3.0 allows users to register Access to any website without tracing their online identity.
The adoption of Web 3.0 will increase data traffic, at a time of increasing use of smart devices and connection to websites, the new generation offers great space for data transmission and storage. studies, Internet Protocol traffic for consumers has tripled since 2017, with an annual rate of 27 percent, reaching 2022, and in 2020 alone, 2.5 million bytes of data are generated every day, 40 percent of which are automated and experts estimate that by 2025, there will be 152,200 connected devices. online per minute.
The cryptocurrency market has expanded in recent years with the development of technology and investment popularity in the Metaverse world, while 2022 will be an opportunity for the launch of cryptocurrencies and blockchain technology that supports decentralized networks such as Web 3.0, in addition to support for virtual world, Web 3.0 enables the existence of encrypted digital currencies – in addition to replaceable NFTs. The main goal is the same principles that the blockchain network achieves to maintain the approved systems and to ensure their stability. Web 3.0 offers exemplary perspectives beyond the traditional business of economic and social growth.
Therefore, Blockchain technology is a cornerstone of Web 3.0, software developers are taking advantage of enhanced security and privacy provided by Blockchain technology to attract Internet users who will enjoy more applications, software, websites and instant search good through direct interaction with intelligent devices.