The last few years have experienced the rapid evolution of the internet and its application ranging from Web 1.0 to Web 2.0 and now Web 3.0. Web3 – the decentralized web – is the latest major iteration of the internet which promises to achieve a stable and secure decentralized network while offering a variety of innovative features. Since the inception of the world wide web in 1989, it has changed dramatically through the years. While Web 1.0 was read-only; Web 2.0 saw a significant shift towards user participation via centralized platforms such as Google, Facebook, Amazon, etc. In this era, personal data is controlled by middlemen: those running the digital platforms. As such, people do not have control over their data as well as the content they create. Web 3.0 is generally regarded as the future of the internet. Unlike the Web2 era, ownership and control is decentralized. Conceived by the Ethereum ecosystem, Web3 enables enhanced privacy, boosted transparency, eliminates intermediaries, facilitates data ownership and digital identity solutions. Similar to how Web2 improved front-end functionality, Web3 is focused on revolutionizing back-end functionality. Today, Web3 architecture has gone far beyond the internet capabilities which run on a decentralized layer. It has become the convergence of several innovative technologies like edge computing, artificial intelligence, IoT, decentralized data networks. With Web3...
