What is Web 3.0 crypto - BEST URDU POETRY

Wednesday, April 20, 2022

What is Web 3.0 crypto

 web 3.0 crypto

Web 3.0 cryptocurrency is the next evolution of a digital communication. This technology has an enormous potential to become the new way to communicate, a better and more reliable way to keep in touch with people around the world and a revolution in lots of regions of our lives.

What does it mean?

Today we rely on instant messaging and other communication software like Whats-app and Facebook. What if we could replace all this communication by sending small messages (between 1–10 seconds) instead of long texts and pictures? And what if we didn’t have to worry about being heard or seen? With block chain, we can connect virtually anywhere with anyone in the world. We can send virtual currency which will be stored in a public wallet from any country for later use or sell it on exchanges. It’s completely decentralized. If you want to own some money, you can do so as soon as someone finds it somewhere. In addition, it will be easy to send funds from one user to another, using their phones or tablets. How did it happen?

In 2009 Gartner named Digital Transformation the top 5 industry disruption factor, in which he describes that the development of computing power leads to “the emergence of the fourth industrial revolution, namely information transformation, data management, social networks, cloud computing and Internet 4.0.” As the amount of data is increasing, it is becoming increasingly difficult to analyze them to find valuable insights. We know where and how best to store it so we can use it when needed. But how to make sure our friends are also aware of our progress and achievements. The introduction of web3.0 cryptocurrency was born.

What is Bitcoin?

Bitcoin is a cryptocurrency based on Blockchain technology. To create bitcoin you need three things all related to each other like Bitcoin, electricity and water. When there are two computers, to transfer bitcoin you need to use their energy; the same thing happens with storing your Bitcoin. Once you have a private key to access it, this makes Bitcoin unique. You could easily change it to any currency for example USD or GHS, but it won’t make bitcoin disappear and even worse it won’t destroy your bitcoins. In fact, this means BTC/USD, BTC/GHS are still not interchangeable anymore than they used to be a few years ago. There is no regulation about its value and therefore there is no limit on the number of Bitcoins created.

What is Ethereum?

Ethereum is similar to bitcoin, it is also called a Decentralized Virtual Machine so everything you download on the internet it runs on Ethereum. The main difference between these two cryptocurrencies is Ethereum is much more scalable and scalable. So many projects and applications that we have been developing are possible with both. For example Jazillionaire, our game engine written entirely in Python, uses ERC20 tokens along with ETH.

How is Ethereum different compared to traditional currencies?

Let’s take a look at the major differences one can notice between traditional currencies vs. those available in the market today. Traditional currencies are centralized. They have a central authority that controls them. Because each central authority has all the power and authority over every single entity of the economy including national banks. On the other hand, a platform like Amazon can control and operate the whole system of payment processes of its users, because of the Centralization of Amazon it can effectively manage all financial resources of everyone. One can see how this system works by using the following diagram.

Another important similarity in an economy on Ethereum is that it can be accessed by everybody. Unlike Facebook, Instagram or Twitter, everyone has full access to information on his project.

How does it work?

In web3.0 cryptocurrency the owner can publish content using this cryptocurrency to interact with others. Anyone can register to read and post posts on these pages. Let’s say to subscribe to a blog page you can post new content by registering. Now you can publish regular updates in your account, and the person who writes it and has posted something he is interested in reading, will receive all your updates in a newsletter. If that person wants to subscribe he will simply write his email address in the website and click on register and the article will be displayed on his browser. All the articles can also be published on other websites as well.

What is proof-of-activity?

Proof-of-activity means that whenever you’re using the currency, at least once you can prove you’ve had the ability to activate the feature. That way you can be confident the person who made the page visited and started posting on your site.

What’s the future?

The very idea of Web 3.0 is revolutionary, it offers us access to limitless possibilities in business, entertainment, marketing, security, etc. Web 3.0 cryptocurrency may seem like a futuristic concept but it is already shaping up to be the next big communications. Already having access to such a large community, now let’s start creating our own network and apps to stay connected and informed. Our goal is to build this ecosystem and develop services connecting it.

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