#web 3.o

What is Web 3.0 and How it will Transform our Lives?

Every time we seek a service online, we are required to identify ourselves as legitimate users. To demonstrate that a user is a legitimate user, one must register for that service using an email address and password or another social login method, which maintains the user's Web3 login information on the server of that corporation.                   

It implies that our personal information is kept in a centralized area on Web2.0 that hosts such servers, making user data privacy a top concern.

Additionally, online users are increasingly reluctant to register with their email addresses and passwords. Facebook, Google, or GitHub one-click social login functions are much more desirable. However, it comes with a trade-off.   

Pros Of Social Media Login Integration

No more form-filling

No need to recall another username/password

Instead of taking minutes, it takes seconds

Cons Of Social Media Login Integration

Since the user’s data is loaded from external providers, this extends a huge privacy problem on how providers utilize all this personal data. For example, at the time of writing, Facebook is encountering data privacy issues.       

Contrarily, Blockchain or Web3.0 gives us decentralized access, meaning that no one has access to any of the user's personal information, reducing the risk to user privacy and empowering individuals to be the owners of their own information.    

Public key encryption techniques are utilized to authenticate users over Blockchain wallets like MetaMask, making it a safe and secure platform for accessing services over the internet.

Let's start with executing the Web3 login using NodeJS & ReactJS with MetaMask.

User Authentication System Working In Web3 Using MetaMask

The idea behind a web3-based user authentication system that utilizes MetaMask is as follows:

The backend generates a JSON Web Token (JWT) and provides it to the frontend upon successful validation.

We will now create an authentication system that will allow a user to log in using MetaMask. We will leverage the private key management capabilities that MetaMask reveals to give way for a user to confirm they own that specific address and have authorization to login as that user. Their public Ethereum address will be used as a means of identification.   

The technology stack we are utilizing is:   

Frontend – React.js

Backend – Node.js, Express.js & PostgreSQL

MetaMask Wallet

By utilizing these technologies, you can easily perform Web3 login; all you need to do is focus on following the steps, as one error can hamper your effort.

Web3.0 Helping Businesses Attain Competitive Benefits  

There are opportunities for businesses to expand with every new version of the Web. Web 3.0, the most recent and popular stage in this evolution, offers many benefits to organizations that will eventually aid in their growth.   

Additionally, Web 3 is currently a popular topic in every industrial area because of its potential to radically alter the entire digital world. However, so many people are unaware of Web 3.0, so let's get started by knowing about Web 3.             

What Is Web 3.0?

We can define Web 3 as a web application that provides users with outstanding experiences, including page navigation and content engagement across a variety of devices. Web 3.0 also makes it possible to communicate with clients via any platform, application, or gadget.    

Web 3.0, which decentralizes the internet to create a web and incorporates decentralized applications (Dapps), smart contracts, and Blockchain, changes how we access information.

Well, now let's move further and talk about Web 3.0 crucial features…

Web 3 Main Features  

Decentralization 

Data is immediately stored on the Blockchain and is accessible from any device in Web 3.0, which enables a decentralized paradigm. As I mentioned, it offers a decentralized network; therefore, nothing needs to be handled by a third-party service provider.             

Independent

Without the aid of middlemen or attorneys, businesses can unilaterally determine their terms and have Web 3.0 run them flawlessly and automatically. The solution created using Web 3.0 comprehends the transaction between the two parties with ease, thereby simplifying contract execution.     

Safe Data  

Web 3.0 data storage is more dependable for users who want to send their data safely because it cannot be removed or blocked by any third party. Therefore, businesses won't have to spend a lot of money preventing thieves from stealing information or content.      

Permissionless

In Web 3.0, everything will be automated by computers and other smart gadgets, eliminating the requirement for any service provider. As a result, businesses won't have to pay exorbitant rates for the services they require, which will cut their operating expenses and allow them to interact with clients and suppliers more effectively. 

Know How Web 3 Helping Business Grow

There are numerous benefits of using Web 3.0; some of them are stated below:  

Streamlined Business Processes

Businesses utilizing Web 3 can effortlessly maintain a transaction ledger for people or additional parties involved. In addition, it will allow businesses to create and handle the supply chain effortlessly. By employing this trending technology, firms can automate contracts with smart contracts.        

Highly Secure

Decentralized technology makes Web 3.0 more secure, and hackers can't hack it without permission because of its decentralized nature. Additionally, Blockchain data cannot be manipulated or changed; businesses don't have to worry about data theft.             

Enhanced Customer Relations

Utilizing Web 3, all transactions are recorded in a decentralized ledger, which makes companies directly accountable to their clients. Web 3.0 provide businesses with more transparency, which helps create trust & long-lasting relationships with their clients.  

No Third Party Is Needed

Utilizing blockchain, smart contracts, & dApps, you can instantly manage all things meaning no third-party service provider need to be involved. It will ultimately benefit businesses to save money & be more competitive. Moreover, Web 3.0 technology permits direct interaction between the firm owner or in-house and patrons.    

Cheaper & Fast Access To Data

For companies, the most valuable asset is data which they use for their service & product development process. With decentralized architecture and immutable systems, web 3.0 technology allows access to more patron data across multiple channels at a relatively low cost.

Conclusion

Web 3 is a modern technology; however, it's in the extension stages but to become fully grown. Blockchain, DAOs, and Metaverse are the two fundamental instances of web 3.0 use cases that are helping organizations in unlocking the factual potential of their business.        

Many industry verticals started adopting Web 3.0 to revamp their business. With time and growing technological evolution, the usage of Web 3 will rise to fix existing inefficiencies of the enterprise.