Web 3.0 is a revolutionary technology that is transforming the internet landscape. The working of Web 3.0 involves creating decentralised applications by utilising decentralised technologies like blockchain and smart contracts (dApps). These decentralised apps (dApps) enable more security and transparency because they operate on a peer-to-peer network rather than a centralised server. With the Working of web 3.0, individuals can have more control over their data and online interactions, paving the way for a more open and accessible internet.

Web 3.0’s underlying technology, blockchain, is a decentralised ledger that records each transaction on the network. Each block in the chain links to the one before it and contains a series of transactions, forming a chain of unchangeable blocks. The system creates a safe and open method for logging and confirming transactions.

Smart contracts, which are self-executing contracts kept on the blockchain, comprise another essential element of Web 3.0. They automatically execute the logic and rules of the dApp when specific criteria are met. As a result, automation can now perform various operations, including payments and identity verification.

Web 3.0 introduces the notion of decentralized identity, which empowers people to have more control over their personal data. Now, users can build a self-sovereign identity and store it on the blockchain, enabling them to control their online identity without relying on centralized organizations like Google or Facebook. More privacy, security, and control over the use of personal data are all made possible as a result.

Web 3.0 introduces a new form of business model known as Decentralized Autonomous Organizations (DAOs), which replace centralized entities with a collection of smart contracts. This makes decision-making more transparent and equitable, and it also gives the community a voice in the process.

In conclusion, Web 3.0 is a new approach to creating and engaging online that is more user-centric, transparent, and safe. Web 3.0 promises a new way to conduct business and innovate online by utilising decentralised technologies like blockchain and smart contracts.

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