Web 3.0, aka ‘The Spatial Web’ is a set of developments across different technologies becoming increasingly interconnected. Blockchain technology is one development; also included are Artificial Intelligence, Augmented and Virtual Reality, Internet of Things, 5G networks, 3d Printing and many more.
Imagine a world where AI systems run our transport, intuitively display us information through augmented reality glasses and 3d print objects based on intuiting our needs connected through 5g networks and in sync off shared a blockchain. Sounds great, no?
A crucial part of this from the perspective of blockchain is interoperability. This describes the ability of computer systems or software to exchange and make use of information.
For the technologies mentioned in the example above to become increasingly interconnected, they will need a shared picture of the truth. Without this shared understanding of reality, these technologies will not integrate and be used to their full potential.
Distributed Ledger Technology (in other words, blockchains) provides the power for this interconnected infrastructure. Blockchain’s offer a way to securely, reliably store data in a decentralised fashion. Blockchains offer a path to a virtually unhackable, globally shared ledger of records, events and transactions.
From this foundation of data integrity, technologies can begin to reliably communicate with each other free from having to worry about malicious third parties or conflicting records. There’s an ocean of possibility that comes with this, and we’re only just at the start.
Blockchain platforms such as Ethereum are still working to scale and meet this need for a globally shared record system. As we move into the next era of the web, you can be confident that blockchain technology will play a key role.
Hopefully, after completing this article, and with it, the Crypto Basics section you can start to see the potential of this technology, understand more about how it works, what spaces it is innovating in and most importantly, begin to imagine the possibility of what is yet to come.
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