Web3 – A Step Forward

The name Web3 is used to announce all the services that will together in the future completely reshape the Internet and the way we use it.

The term “Web3” denotes an amalgamation of various services that are expected to radically transform the Internet and its usage patterns. The third iteration of the web, popularly known as Web 3.0, has gained significant attention lately, although its exact definition is yet to be established as it is an emerging technology that is still in the process of being fully comprehended.

Given the current landscape, it is anticipated that the Web3 revolution will occur once the Internet of Things gains greater traction and Artificial Intelligence becomes more ubiquitous in our daily lives.

Essentially, Web3 embodies the latest iteration of the internet, built on the foundation of cutting-edge programming standards and a technological framework that enables interactivity. This, in turn, has the potential to replace traditional methods of searching, such as keyword search, with more sophisticated and intelligent search functionalities.

Evolution of the Web2 concept

Web3 represents a noteworthy evolution of the existing Web2 paradigm, expanding its functionalities and catering to the ever-changing demands of users. In contrast to the present-day online experience, Web3 leverages the power of Artificial Intelligence to enhance search capabilities.

Gone are the days of search results being ranked based solely on their popularity, even if they fail to address the user’s query appropriately. Web3 brings a contextual understanding to search and utilizes it to eliminate extraneous information, presenting a precise set of results that cater to the user’s needs.

A technical invention of this caliber must possess autonomy, being operational across all platforms, including diverse screens and printers, without being bound by any operating system, software, or hardware vendor. It should adhere to universal standards, guided by the directives set forth by the W3C, and be accessible to all, with open interfaces for various databases.

Given Web3’s reliance on internet connectivity to access information, it is plausible for the search engine to interpret user behavior patterns and provide tailored search results, making the search process much more efficient and personalized.


In the realm of digital funds, including cryptocurrencies and smart contracts, achieving interaction between users necessitates the occurrence of transactions on the blockchain. To enable transactions on the blockchain for users outside the chain or software, nodes must transfer the transactions to the core peer-to-peer network. This process simplifies the connection with Ethereum nodes, rendering it more user-friendly and accessible.

The advent of Web3 represents a significant milestone in the evolution of the internet, succeeding various previous iterations, including Web 2.0, which is presently in use, as well as the earlier Web 1.0. It is noteworthy that the term “Web 1.0” was coined only after the advent of version 2.0, exemplifying the dynamic nature of technological advancements and the constant push toward innovation.

The initial iteration of the World Wide Web, known as Web 1.0, was characterized by static pages that were restricted to the presentation of information, with users having no means of contributing to it.

Web 2.0, on the other hand, represents a paradigm shift, enabling users to share information seamlessly on the internet, chiefly manifested by the advent of social networks, facilitating real-time communication with other users.

As far as Web3 is concerned, the Internet of Things (IoT) plays a vital role in its development, requiring mass connectivity of every device, which is expected to be achieved through the deployment of 5G networks and innovative data storage solutions.

To enable the advanced search capabilities that Web3 promises, spatial computing becomes indispensable, enabling the search process to incorporate a unique interface that differs from traditional interaction methods. This may include novel modalities such as sound and even potential movement.

No central entity

The next iteration of the internet, Web3, is built on the foundation of blockchain technology, more specifically, an algorithm that facilitates trust when exchanging information with unknown users, assuming that their intentions are non-malicious. By utilizing blockchain technology, Web3 enables secure transactions without the need to rely on a centralized authority, such as Google, Facebook, Twitter, and other data-sharing platforms that routinely collect user data throughout the exchange process.

Web3’s decentralized architecture promotes a peer-to-peer exchange of digital data and resources, removing the need for intermediaries that typically oversee and control the transfer of data in the current online ecosystem. This not only provides users with greater autonomy and control over their data but also offers a more secure and transparent way of sharing information online.

Furthermore, since blockchain is an immutable ledger system, all transactions on the network are recorded and verified, making it virtually impossible for malicious actors to manipulate or alter the data. This enhanced security and transparency feature of Web3 blockchain technology makes it an ideal solution for online transactions involving sensitive information such as financial transactions, health records, and legal documents.

The potential benefits of this revolutionary technology are not limited to individuals alone, but also extend to businesses and organizations across various sectors. In the coming years, the adoption of Web3 technology will undoubtedly shape the future of the internet, paving the way for a more secure, decentralized, and democratic online ecosystem.

Web 3.0 has been thrust into the forefront of the digital revolution, in no small part due to the tireless efforts of the global blockchain community. The Ethereum network, in particular, has been instrumental in promoting this paradigm shift, thanks to the multitude of low-level interfaces that it provides for users engaging in transactions. One such interface is the JSON (JavaScript Object Notation) RPC (Remote Procedure Call) interface, which serves as a crucial communication protocol for the Ethereum network.

At its core, JSON RPC is a text encoding format that facilitates the exchange of data between disparate processes. The nodes participating in the Ethereum network can leverage this interface in numerous ways, depending on the specific configuration and implementation of the underlying software. For instance, certain nodes may expose their JSON RPC interface only to a select group of trusted peers, while others may opt for a more open approach, making their interface accessible to anyone on the network.

As a result of this flexible approach, the Ethereum network has enabled developers to create a wide range of decentralized applications, ranging from simple smart contracts to complex decentralized autonomous organizations (DAOs). With Web 3.0, users now have access to a truly decentralized web, free from the constraints of centralized authorities and intermediaries. In essence, the Ethereum network has laid the groundwork for a new era of the internet, one that is characterized by increased autonomy, transparency, and security.


Web3 aims to simplify the process of accessing different Ethereum nodes for developers, while also extending access to other blockchains. Establishing a connection with a blockchain node enables users to view and manipulate information, automate transactions, and engage with smart contracts.

However, in order to execute such operations, several technical requirements and opportunities must be met. Firstly, direct access to a specific blockchain via a node, preferably a complete one, must be available. Secondly, third-party providers can be leveraged to gain access, with Metamask being one of the most trusted ones. This Ethereum wallet incorporates a Web3 provider object into a browser, facilitating access to Web3-enabled DApps and allowing the users to engage with smart contracts, send and receive cryptocurrency, and interact with various blockchain services.

Web3 technology represents a paradigm shift in the way we interact with the internet, enabling users to utilize blockchain-based services in a more streamlined and seamless manner. Through Web3, developers can build decentralized applications (DApps) that operate on top of blockchain networks, taking advantage of the trustless and secure environment that these systems provide. With the continued expansion and integration of Web3 technology, it is anticipated that the decentralized web will become more accessible and user-friendly, paving the way for a more decentralized and democratized internet ecosystem.


In the past, the process of communicating with smart contracts was incredibly complicated, and the only way to achieve this was through an API provided by the Ethereum node, which functioned as a JSON-RPC server. This complex process was a significant barrier for developers who were interested in creating decentralized applications (DApps) on the Ethereum blockchain. However, with the advent of Web3.js, developers now have a simple and user-friendly way to interact with the Ethereum blockchain, making it accessible to web technologies. Since JavaScript is supported in almost all web browsers, Web3.js allows developers to interact with the Ethereum blockchain directly, eliminating the need for complex APIs.

Web3.js can be used to connect to the Ethereum network through any Ethereum node that permits access via HTTP. This allows developers to create DApps that can be accessed from any web browser, making the process of interacting with the Ethereum blockchain even more straightforward. By using Web3.js, developers can easily create and manage smart contracts, as well as interact with the Ethereum network in real-time.

To integrate web browser applications with Ethereum, developers often use the Metamask browser extension in combination with Web3.js. Metamask acts as an Ethereum wallet, allowing users to manage their private keys and sign transactions in their web browser. A Web3 provider is a data structure that provides links to publicly available Ethereum nodes, and with the use of Metamask, developers can easily connect their web applications to the Ethereum blockchain, enabling them to take advantage of the numerous benefits that decentralized applications offer.

In conclusion, Web3.js has revolutionized the way developers interact with the Ethereum blockchain, making it more accessible and user-friendly. By simplifying the process of interacting with smart contracts and providing a straightforward way to connect to the Ethereum network, Web3.js has opened up new possibilities for the development of DApps, enabling developers to build innovative and secure applications that take advantage of the trustless and decentralized environment of the blockchain.

Data creation

In short, the original Web1 exchange system revolved around the concept of companies producing data for their own benefit through static web pages. However, with the advent of Web2, users are empowered to produce data and information that benefit businesses, either knowingly or unknowingly, as they share their personal information online.

Web3, on the other hand, is grounded in a decentralized framework, which not only allows for the democratization of data and content creation, but also enables users to produce data and content that directly benefits other users.

This departure from the traditional model of corporate-driven data production marks a significant shift in the underlying principles of the internet, paving the way for a more collaborative and equitable exchange of information. As such, the philosophy of Web3 aligns with the broader ethos of the blockchain and decentralized technology, which prioritize transparency, security, and user autonomy.

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This content was brought to you by VISA, the global leader in digital payments, whose mission is to connect the world with an innovative and secure payment network to enable individuals, businesses, and economies to grow.

Visa is the general partner of the Fintechlopedia project, an electronic glossary containing all relevant elements of digital transactions and related phenomena, situations, processes, and innovations.


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