8 Best Benefits Of Web 3.0.

   

This represents the shift away from the centralized architecture of the current internet to a decentralized and more open network. While web 2.0 was a great improvement to web 1.0 it introduced a new set of problems. Then with the rise of web 2.0 user generated content and social media and monetized by large technology companies.

Web 3.0 aims to solve the lack of privacy and control over personal data in the current internet. This web aims to let users control their personal data by allowing them to own and manage in a safe and decentralized way that means that their data will not be under any control. But the controller will be themselves.

The benefits of web 3.0

1.Decentralization

This is among the best benefits of web 3, meaning that data and applications are distributed across a network of computers rather than being controlled by a single entity. In web 3 instead of people controlling other people’s data, people are now controlling their data. Hence it eliminates the need for intermediaries like social media platforms, search engines and cloud service providers but it allows users to control their data and reduces the risk of hacking. That in web 3 people’s information will not be hacked by anyone because they don’t know other people’s information.

2.Reduced Costs

Web 3 reduced cost by eliminating intermediaries such as banks and other financial institutions, enterprises can save hefty amounts of money or transaction fees and other expenses.

3.Ownership of Information or Data

The users of web 3.0 can control their data and have security of encryption and information can be shared. For example, large organizations like Facebook have a number of servers storing personal information and income, interest, data, credit cards etc. All these users are able to own their information without any interaction from others.

4.Privacy

Web 3.0 allows people to control their online identity and personal information. This is due to a decentralized system where people's information is not under any authority. In web 3 you get more fine tuned control over what information is available about you online and who can access it .

6.Access to Information

The benefit of web 3 is to transform information anywhere and reach people and ensure people have access to the internet as much as possible from anywhere in the World and expand ideas of technology and collect user data and learn new ideas.

7.Opportunity

Web 3 project is open source and anyone can build on top of other projects. Web 2 worked with limited API access that people could not even control their data; this is due to a centralized system. But web 3 works like lego blocks, where every part can be interconnected and reused. In web 3 people are free to control their data without any problem from any authority.

8.Collaboration

Web 3 runs on DAOs(Decentralized Autonomous Organizations), a new organization model without any authority. DAOs instead operate according to a  set of rules written in code, allowing an unlimited number of people to participate in it. It is estimated that many traditional companies will change their operating model to DAOs in the next 10 - 15 years.

Conclusion

This article explains much about the benefits of web 3.0 like collaboration, opportunity and even privacy that allows people to control their online identity and personal information. But also there are limitations like scalability, cost effectiveness and complex for beginners, that those who are new in web 3 they will face limitations because they are not experienced.