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Some buzzwords stick around, while others fade away. Despite their similarities, Web 3.0 and the metaverse are very different technologies and are frequently used interchangeably.
Read on to learn more about what is web3, What is metaverse and what is the difference between the two of them?
What is Web3?
In 2014, Gavin Wood coined the term Web3 as a way to preserve liberal democracy by using decentralized technologies. However, Web3 does not have a specific definition. Why is that so? It is still in its infancy. Blockchain technology can, however, be viewed as an alternative way to implement the World Wide Web.
The web has undergone a revolutionary change. Experts also consider the major difference between Web2 Vs. Web3. A semantic web would be the next big step in the evolution of the internet, according to Tim Berners Lee, the father of the internet.
A crypto-economic protocol is a collection of decentralized networks of peers that form a chain of blockchains. They are called dApps (decentralized apps).
What is Metaverse?
Metaverse is generating a lot of buzzes. Whether it’s tech tycoons or business giants, the word metaverse is on everyone’s lips. But what does metaverse mean? In simple terms, a metaverse is a three-dimensional version of the internet.
According to a venture capitalist, the metaverse is a massive network of real-time rendered 3D virtual worlds that users can experience simultaneously and persistently by a virtually unlimited number of individuals. There is continuity of identity, history, entitlements, objects, communications, and payments, as well as data continuity..”
Metaverse and Web3: how do they connect?
In the future, there could be overlapping between the metaverse and Web 3.0, even though they are not identical – one, both, or none may happen.
For example, a digital artist might design a metaverse outfit and sell it at auction with an NFT. If others replicated it, they would wear knockoffs. If the buyer owns the costume, it cannot be duplicated. In addition, there is the possibility of a Web 3.0 that is accessed through desktops and smartphones instead of VR headsets.
If tech doesn’t overcome current technology constraints, that’s especially plausible. We have yet to receive comfortable and inexpensive VR headsets that are comfortable and efficient for us to wear, as Intel recently stated that computers will need to be 1,000 times more efficient to support the metaverse. Not everyone can afford $599 or INR 49k worth of VR headsets!
Web3 Vs. The Metaverse
We must reflect on the differences between their implications and the future in order to clear up the confusion of our readers.
Web3 Vs. The Metaverse: Definition
Decentralization of the internet is the focus of Web3, the upcoming generation of the internet. In contrast, the metaverse is defined as a space in which virtual augmentations of reality would blend with the physical persistence of virtual spaces.
Web3 Vs. The Metaverse: Applications
There are numerous ways to utilize the metaverse in entertainment, gaming, movies, social media, and education. In contrast, Web3 is a standard for the future generation.
Metaverse capabilities are still under development, so it is too early to determine their capabilities. Moreover, web3 could be applied to the entire web, not just to a single application.
Web3 Vs. The Metaverse: Technology
Web3 is based on the following technologies:
- NFTs (Non-fungible tokens)
- Blockchain & cryptocurrencies.
- DAOs (Decentralized autonomous organizations)
- DeFi (Decentralized finance)
Metaverse is based on the following technologies:
- Decentralization technologies
- Creator economy
- Human interface
- Connectivity technologies
Web3 Vs. The Metaverse: The Future
The metaverse describes a future in which humans can join the digital domain through the use of computers, as opposed to Web3.
Web3 vs Metaverse: Web 3.0 India’s Take
The applications and future uses of Web3 and Metaverse are different, yet they are interconnected. Artificial intelligence and blockchain technology are both used in both of them. Without the Web 3.0 engine, the Metaverse would not exist. In the future, Web3 and Metaverse will have tremendous potential, thanks to continuous advancements and a certain amount of dependency on one another.
Our Web3 Development Company provides businesses with scalable, reliable, and unique solutions by integrating the latest technologies and engineering methods. By ensuring enterprises can get the most out of their software, we aim to maximize their profitability. There are several stages in our process, starting with planning, followed by design, then maintenance. By doing this, we can help our team and our clients’ businesses function smoothly and bring their vision to life.
