“Web 3.0” usually refers to the “decentralized internet”. A decentralized web is a network without a central server.
Web 3.0 is based on blockchain technology, providing transaction information to everyone in the network in the form of a distributed ledger.
If a transaction within any particular block is changed, deleted, or added, that block will be rejected by the rest of the network, making it very safe and secure.
In other words, all information and processing power within the network is decentralized, it is distributed among multiple entities and cannot be controlled by a small number of people.
This means that the ecosystem of the network will not be destroyed just because a server or node is attacked as before.
Web 3.0 also adds artificial intelligence (AI) support to its definition. For example, the development of artificially created content to AI generation, the use of intelligent algorithm robots to produce content.
The main features of Web 3.0 can be summarized in the following four points:
Ubiquitous : Internet-connected devices will not be limited to mobile phones and computers, and any IoT device can be accessed anywhere.
Semantic Web : Enabling machines to decode the meaning and emotion of content, providing better data connections.
Artificial Intelligence : Seamless application of machine learning and algorithms.
3D interface : Immersive, blurring the boundaries between physical and digital space.
Although Web 3.0 is still in its infancy, it offers a range of features that could completely change how we view and use the Internet, and as the technology continues to evolve, more new industries will be born in the future.
Ethereum’s Shanghai upgrade, which allowed withdrawals from its proof-of-stake network starting in April, unleashed fresh demand to stake the second largest cryptocurrency. Staking lets crypto owners lock up tokens to participate in securing the network as a validator in exchange for a reward, making it a popular investment among long-term investors including institutional investors.
Some of the filing continues to reiterate Coinbase's already-live public statements, arguing that current SEC Chair Gary Gensler changed his position on the regulator's authority over crypto between taking office in April 2021 and mid-2022; saying the company has asked for regulation; and noting that Congress has started looking at the issue of crypto regulation.
Furthermore, it introduces the prospect of mandatory reimbursement for victims of Authorised Push Payment (APP) scams. APP scams have been a prevalent issue in the UK, with the bill targeting tighter controls on those who approve financial promotions for others, thereby bringing more accountability to the financial ecosystem.