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What is Web3 technology?

Web 3.0 is the solution to all the technological innovations featuring security, transparency, decentralization, and immutability. Read here to know more what is Web3 technology and how Blockchain Software Development is made easier with Web3.

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What is Web3 technology?

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  1. WHAT IS WEB3 TECHNOLOGY AND HOW BLOCKCHAIN SOFTWARE DEVELOPMENT IS MADE EASIER WITH WEB3? Prepared By : Webllisto

  2. ABOUT OUR WEB3 Till now we are aware of the Web1 and Web2 technology, but the Web3 reckons the Internet to greater versions. Web as such refers to WWW – World Wide Web with which we are familiar. However, over the decades we have innovated Web1 and Web2 as the phases of the Internet, but now the proponents have reached a step further with the birth of Web3.

  3. WEB 3 The original form of the Internet regarded as Web1 was developed in the 1990s and evolved as Web2, which is currently in force. Through the utilization of Web2 we achieved numerous milestones and alas we succeeded in fetching the Web2 in our pocket-handy smartphones and tablets.

  4. WHAT IS WEB3? In 2014, Gavin Wood first introduced the concept of Web3 to the world and is also the co-founder of Ethereum- a notable cryptocurrency token. This unique potential of the Internet unravels the ensuing drawbacks of Web1 and Web2. Web 3.0 is the solution to all the technological innovations featuring security, transparency, decentralization, and immutability.

  5. NOTEWORTHY FEATURES OF WEB 3.0 TECHNOLOGY A data-driven Semantic web is an open- source decentralized platform regarded as third-generation internet. The term semantic web is introduced by the “father of the internet” Sir Tim Berners-Lee. The following are the salient features of the Web3 technology that highly correlates with the Blockchain technology:

  6. Crypto payments THE SALIENT FEATURES OF THE WEB3 TECHNOLOGY Web3 is yet another perfect solution for crypto payments as it eliminates the traditional banking features with the induction of decentralized finance that helps secure and hastens global transactions. Decentralized Transparency Web 3.0 is regarded as an open decentralized platform combating the web 2.0 limitations vastly. The decentralized infrastructure delineates the controllability of the Internet by eliminating the monopoly induced by larger entities. The Web 3 space is designed with tools and protocols with zero third-party intervention framing an excellent transparent platform. The Web3 developers develop a robust framework blended with blockchain technology.

  7. Secured THE SALIENT FEATURES OF THE WEB3 TECHNOLOGY Because of its decentralized nature, the Web3 is amiable to Blockchain technology with unprecedented security and clarity for Blockchain applications. Permissionless Reliable Another innovative feature supported by Web3 is linked to permissionless tools and technology opening doors to the ocean of opportunities in the field of decentralized economy. With a promise of eliminating the threat of fraud, the Web3 technology ensures a reliable source of Blockchain application development winning the trust of the users.

  8. PERKS OF BUILDING BLOCKCHAIN APPLICATION ON WEB3 TECHNOLOGY Web3 space is one of the revolutions of the Internet walking parallel to the Blockchain technology that accelerates the Blockchain Application Development process. The high traffic and heavy data are effectively managed and controlled by the Web3 model.

  9. PERKS OF BUILDING BLOCKCHAIN APPLICATION ON WEB3 TECHNOLOGY Exclusive Ownership Unconstrained Resistance The base of the Web3 technology is built on the notion of ownership, the quality that the Web1 and Web2 versions lacked immeasurably. Despite the in-game asset feature in the Web2 technology, the gamers are restricted from trading outside the gaming platform, which imparts a false sense of a Play-to-earn gaming experience. With Web3 the issues of the content filtration are totally eradicated as the data is stored securely on the Blockchain platform. Hence, this feature allows the Web3 developers to start or restart their work without the loss of the data.

  10. PERKS OF BUILDING BLOCKCHAIN APPLICATION ON WEB3 TECHNOLOGY Unique Identity Cryptocurrency payments We acknowledge the hassle encountered while logging in to multiple social media accounts. Web3 uses an Ethereum address and ENS profile as its unique identity tool. As we discussed above, the Web3 space enables cryptocurrency payments with blockchain-equipped trading finances. The cryptocurrency supported by Web3- Ethereum- ensures global trading without the interference of the third-parties.

  11. SUMMING UP Great opportunities await the business enthusiast to utilize Web3 space for their hassle-free Blockchain Application development. The freedom Web3 leverages its boundless benefits and includes customized Blockchain Application Development services.

  12. WEBLLISTO info@webllisto.com

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