Web 3.0

The term Web 3.0, also often referred to as the Semantic Web, is used to denote the third phase in the evolution of the Internet, i.e. an era characterised by a strong interconnection of data and an increased awareness of the user’s use of information. As we are currently in the Web 2.0 era, this is the next revolution that the Internet will observe.

This definition was first provided by Tim Berners-Lee in 2006, a computer scientist who can be described as the father of the World Wide Web.

According to Berners-Lee, in Web 3.0, shared content (such as files, HTML code, videos or mp3s) will be associated with metadata specifying their semantic context and facilitating data interconnection.

With this information, search engines (e.g. Google or Bing) and algorithms will be able to process user requests more efficiently and faster.

Every piece of data associated with a piece of content on the Internet will be stored within a series of decentralised databases (among which we can find Solid, the first Web 3.0 archive ever realised and created by Berners-Lee himself).

Within these registers, a large amount of data and information can be stored and extracted.

The efficiency of Web 3.0 will be ensured by the use of artificial intelligence, such as Chat GPT3, and machine learning, i.e. the ability of computers to create data-driven systems capable of predicting future user interactions. These innovations will facilitate the use of search engines by humans, making the Internet an interactive and interconnected place.

Although they are often regarded as synonymous, a distinction must be made between Web 3.0 and Web3.

The Web3, a term coined by Gavin Wood in 2014, is in fact associated with the use of blockchain to promote digital identity and full user control over the content they publish online.

Although several solutions exist to foster interoperability, blockchain technology generally makes it difficult to exchange information between one platform and another.

Web 3.0 innovations, on the contrary, aim at facilitating data sharing and data mining.

Correlated words

Hawkish

'Hard' monetary policies aimed at raising interest rates to combat inflation.

Dovish

Monetary policy characterised by low interest rates and higher levels of employment aimed at fostering economic growth.

Registry

Organisations that manage all information relating to top-level domains.

URL

Stringa di caratteri associata in String of characters uniquely associated with a resource on the World Wide Web. univoca ad una risorsa sul World Wide Web.

IP address

Numeric strings that uniquely identify every resource to the network

ICANN

Organisation that manages domain names on the Internet and assigns IP addresses.

Registrar

Organisation that deals with the sale and registration of domain names.

DNS

Hierarchical server system that, on the Internet, associates each domain name with an IP address.

TLD

The domain extension placed at the end of a URL address,located at the highest point in the DNS hierarchy.

Financial Market

The financial market is a regulated space where financial securities can be bought and sold.

Cashback

Cashback involves a partial reimbursement of funds spent in a transaction.

Web3

Third historical phase of the web, during which the economic and technological system of the internet changes thanks to the tools offered by blockchain.

Bitcoin

The longest-lived cryptocurrency on the market and the first application of blockchain.

Wallet address

The string of characters that identifies a cryptocurrency wallet.

Stablecoin

Cryptocurrencies pegged to the price of a stable asset such as a fiat currency or precious metal.

Custody

Managing one's wallet by knowing its private key

White Paper

Technical and informative document used by cryptocurrency projects to present their technological proposal.

Wallet

Software that allows you to send, receive and store your cryptocurrencies.

Virtual Currency

Term used in legislation to define cryptocurrencies.

Fiat Currency

Legal tender, i.e. the official currency adopted by a government.

Token

Digital unit of value based on a third-party protocol.

Satoshi Nakamoto

The pseudonym of the creator or group of Bitcoin developers. Their true identity is unknown and they no longer have an online presence.

Open-source

Open-source software is public and available for anyone to reuse.

KYC

Identity verification procedure required by European regulations for exchanges.

Hard Fork

A division of the blockchain due to the incompatibility of the new version of the protocol with the previous one.

Hot Wallet

A cryptocurrency wallet connected to the internet.

Halving

The halving of the reward given to miners for producing Bitcoin blockchain blocks.

FinTech

A sector that combines finance and technology, where companies develop technologically innovative financial services.

Cryptography

The branch of computer science that studies secure communication methods.

Cryptocurrency

Virtual currency based on cryptography and blockchain.

Coin

A cryptocurrency that is natively based on its blockchain

Public Key

Cryptographic code that identifies a wallet on the blockchain.

Private Key

Cryptographic code that gives access to a wallet.

API

Tools that simplify the development of apps and web services.

Altcoin

Cryptocurrencies that followed Bitcoin as alternative solutions.

AML

Anti-money laundering regulations prevent illegal activities on centralised exchanges.

Algorithm

The procedure applied to solve a problem.

Exchange

Services facilitating the purchase and sale of digital assets based on daily market prices.

Download the Young Platform app

Downaload From Google PlayStoreDownaload From Apple Store