Framework For Web 3
How does this system come to live with Taughs Development
Features of web 3
Decentralisation, root principal of web 3, in web 2 device acquire data that is held in a fixed location which are typically rooted from a server utilising HTTP to distinguish web address. Web3, information is stored in multiple location thus becoming decentralised. Hence, it would be discovered based upon content eliminating the need for a single location.
Users will be able to sell their own data through decentralised data network to affirm they maintain ownership control.
Decentralised and open source which will be trustless. Users will be able to interact with directly without the need for intermediary & permission. This further define Web 3 as a Dapp that will be able to operate on the blockchain, decentralised peer-to-peer network or hybrid.
Artificial Intelligence (AI) and machine learning. This assist in semantic of web and natural language processing-based technology. Web 3 enable machine to comprehend information like human. It also utilise machine learning to mimic human learning by comprehension of data and algorithm, gradually increasing its accuracy. This redefines targeting advertising instead this will produce result even faster and more relevant outcome.
Connectivity and ambiguity. With web 3 content and information are accessible across the net.
Layers of Web 3
Edge computing -it pushes the data hotspot out of the edge into users
Decentralised data network – users will be able to sell their data on web 3. Different data that is generated can sell or share their data without losing ownership or relaying on intermediaries using decentralised data network.
Artificial intelligence and machine learning algorithm has advance utility that can make usefulness
Blockchain is a decentralised technology that utilise smart contract to execute transaction via smart contract.
Key application
The application of web 3 make it possible for an expanding range of new apps and service
Nft, that are token that are stores in the blockchain with cryptographic hash. When users accomplish a certain task they will be awarded NFT that can be displayed in the badges as an achievement.
Cryptocurrency, an emerging value that is distinctive to fiat, users will be able to utilize the element in crypto to participate into new idea.
Dapp are program that are built on top of blockchain and utilize smart contract to facilitate utility. Users will be able to connect directly via Dapp
DAO eliminating a single source of governance & preserving them for users. Users will be able to participate and validate ideas
Web 3 Function Module
Web 3 is the third generation of the World Wide Web, which is characterized by the use of decentralized technologies such as blockchain and peer-to-peer networking. These technologies allow for the creation of decentralized applications (dApps) and networks that can operate without the need for central authority or intermediaries.
Here is a high-level overview of how Web 3 technologies work:
Blockchain: A blockchain is a distributed ledger that allows multiple parties to record and verify transactions without the need for a central authority. It uses cryptographic techniques to secure the ledger and prevent tampering, and it relies on consensus mechanisms such as proof-of-work or proof-of-stake to ensure that all members of the network agree on the state of the ledger.
Smart contracts: Smart contracts are self-executing contracts with the terms of the agreement written into lines of code. They can be deployed to a blockchain, where they can be executed automatically when certain conditions are met.
Decentralized storage: Decentralized storage systems, such as InterPlanetary File System (IPFS), allow users to store and retrieve data in a decentralized manner, without the need for a central server or authority.
Peer-to-peer networking: Peer-to-peer (P2P) networking allows for the creation of decentralized networks in which users can communicate and exchange data directly with each other, rather than relying on central servers.
Decentralized identity: Decentralized identity systems, such as those based on blockchain or self-sovereign identity technologies, allow individuals to own and control their own digital identity, rather than relying on centralized authorities to do so.
Web 3 technologies can be used to create a wide range of applications and services, including decentralized finance, decentralized governance, and decentralized social networks.
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