With reference to Web 3·0, consider the following statements : 1. Web 3·0 technology enables people to control their own data. 2. In Web 3·0 world, there can be blockchain based social networks. 3. Web 3·0 is operated by users collectively rather than a corporation. Which of the statements given above are correct ?
With reference to Web 3·0, consider the following statements : 1. Web 3·0 technology enables people to control their own data. 2. In Web 3·0 world, there can be blockchain based social networks. 3. Web 3·0 is operated by users collectively rather than a corporation. Which of the statements given above are correct ? Correct Answer 1, 2 and 3
The correct answer is 1, 2, and 3.
Key Points
Web 3.0
- World Wide Web, which is also known as the Web, is a collection of websites or web pages stored in web servers and connected to local computers through the internet.
- It is a decentralized internet to be run on blockchain technology, which would be different from the versions in use, Web 1.0 and Web 2.0. Hence, Statement 2 is correct.
- It is a decentralized internet that runs on a public blockchain, which is also used for cryptocurrency transactions. Hence, Statement 3 is correct.
- In Web3, users will have ownership stakes in platforms and applications unlike now where tech giants control the platforms.
- It will be permissionless and democratic. For instance: Twitter will not be able to censor posts and Facebook will not be able to maintain a database of billions of users that can be potentially used to influence elections.
- In a Web 3.0 universe, people will control their own data and will be able to move around from social media to email to shopping using a single personalized account, creating a public record on the blockchain of all of that activity. Hence, Statement 1 is correct.
- All data will be interconnected in a decentralized way, unlike the current generation of the internet (Web 2.0), where data is mostly stored in centralized repositories.
- Three key features of Web 3.0 are Ubiquity, Semantic Web, Artificial Intelligence, and 3D Graphics.
- Examples of Web 3.0: The most recent example of Web 3.0 is the NFTs or non-fungible tokens.
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Feb 20, 2025