Web 3.0 (Web is the third generation of the evolution of web technologies. The web, also known as the World Wide Web, is the fundamental layer of how the Internet is used and provides website and application services. Web 3.0, also known as the third-generation Internet, is the next evolution of the World Wide Web. It provides a data-driven Semantic Web that employs machine-based data understanding to develop a more intelligent, connected web experience for users.
When it comes to Web 3.0, you'll find that cryptocurrencies are mentioned frequently. This is because many of the Web 3.0 protocols rely heavily on cryptocurrencies. Instead, it offers a monetary incentive (tokens) to anyone who wants to help create, govern, contribute or improve one of the projects. Web 3.0 tokens are digital assets that are associated with the vision of creating a decentralized Internet.
These protocols can provide various services, such as computing, bandwidth, storage, identification, hosting, and other online services previously provided by cloud providers. Following the popularity of the metaverse, Web 3.0 is the new buzzword that is taking over the Internet world. Also known as the decentralized web, Web 3.0 is the third version of the Internet, an improvement over the current Internet of Web 2.0.