Blockchain in the World of Web 3.0

By StartUp City | Saturday, December 15, 2018

Tim Berners-Lee, the inventor of the World Wide Web, urges to decentralize the current World Wide Web, based on distributed ledger technology. The blockchain is capable of laying the foundation for a global reboot of the World Wide Web. In the future, the web may take global control and recapture its decentralized roots. Previously, people were connected through the desktop computers, and later, with the advent of Web 2.0, the communication is such a way that information is now shared between people through centralized services that are provided by the top leading companies like Google, Facebook, Microsoft, and Amazon. Now it is Facebook’s platform, which is called the Walled Garden that enables users to talk with each other live.

The Dweb (3.0) is all about decentralizing. With the current web, there is a chance of risk that data might be hacked which leads to theft or loss of data and makes it easier for the governments to conduct surveillance and impose censorship. The Dweb provides the same services but decentralized that promises control and privacy over the data. Web 3.0 and blockchain both together deliver significant advantages to individuals and businesses. This is designed to give control on the URLs that authorize domain name registrars such as GoDaddy and Throwing out middlemen would mean huge reductions in the costs involved in security.

Blockchain provides decentralized public digital ledger that tracks the ownership securely. Initially, this technology was confined to only digital currency transactions. But with the recent advancements in the blockchain, it is now leveraged in the development of Dweb which records the movement of data, register unique usernames, and store data. Certain cryptocurrencies are deployed to help create the Dweb. Filecoin, the cryptocurrency was launched by Protocol labs which has raised about $205 millions for the project.

There are huge differences in how the Dweb is compared to World Wide Web and tools for Dweb. There is peer-to-peer connectivity across the computers which not only request the services but also provides them. Here, the information stored and retrieved is completely different. Currently, http and https are used to identify the information on the web. These links tell the computers to find the information and retrieve from the locations by using http protocol. Dweb links identify the information based on content, what it is rather than where it is. This feature allows the websites and files to be stored and passed across the computers in many ways instead of relying on a single server for exchanging the information.