There has been a lot of discussion about Blockchain, Metaverse, Cryptocurrency, NFTs, and other fancy technology terms. But what exactly are they, what do they mean for consumers, and how will they affect how we use the internet?
In a nutshell, Web 3.0 is the next generation of the internet and will supersede Web 2.0. Web 3.0 will change how users connect around the world, as well as how their data is stored and used.
Web 2.0 powerhouses include Google, Facebook, and YouTube.
“A blockchain is a growing collection of records known as blocks that are securely linked together using cryptography.” Each block contains the previous block’s cryptographic hash, a timestamp, and transaction data (generally represented as a Merkle tree, where data nodes are represented by leafs). The timestamp proves that the transaction data existed at the time the block was published in order to be included in its hash. Because each block contains information about the one before it, they form a chain, with each new block reinforcing the ones before it. As a result, blockchains are resistant to data modification because, once recorded, the data in any given block cannot be changed retroactively without affecting all subsequent blocks.
Blockchain is by far one of the most secure protocols, owing to the following factors:
According to Wikipedia, Blockchain is defined as follows:
These figures paint a clear picture of where the world is heading, and FOURLINES AGENCY isn’t the only one who believes in Web 3.0. Many ordinary people are investing their money in Web 3.0 projects, which are raising millions of dollars in funding in just a few weeks. World leaders, Web 2.0 tech titans, and countries all over the world are vying to be the first to implement this technology.
If you have any questions about Blockchain, NFTs, Web 3.0, or anything else in this blog, and how you can incorporate it into your business or start-up, please contact our friendly team to schedule a meeting.
The following article was published on the Enterprise Monkey website. Special thanks to them for sharing their valuable web 3.0 knowledge.