Exclusive: Development Trends of Web 3.0

Opportunities and challenges of Web 3.0

  • CHENG Shenghui ,
  • HUANG Tianyi ,
  • MENG Yiran ,
  • FAN Yuqing
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  • Research Center for Industries of the Future (RCIF), School of Engineer, Westlake University, Hangzhou 310024, China

Received date: 2023-02-20

  Revised date: 2023-04-19

  Online published: 2023-08-30

Abstract

With the advances in technologies of artificial intelligence and 5G as well as the emerging concepts of blockchain and decentralized management, the next revolution of Internet, Web 3.0, has appeared. It will change the development of Internet and various professions and has thus attracted much attention from both academia and industry. This article analyzes the opportunities and challenges of Web 3.0. First, the differences among Web 1.0, Web 2.0, and Web 3.0 are elaborated, and the technical architecture of Web 3.0 is also studied. Second, through studying existing relevant literature, the current development status and the opportunities of Web 3.0 are summarized from both economic and technological aspects. Third, the challenges faced by Web 3.0 in research and regulation are pointed out. Finally, an outlook on the future development of Web 3.0 is given.

Key words: Web 3.0; blockchain; metaverse; NFT

Cite this article

CHENG Shenghui , HUANG Tianyi , MENG Yiran , FAN Yuqing . Opportunities and challenges of Web 3.0[J]. Science & Technology Review, 2023 , 41(15) : 22 -35 . DOI: 10.3981/j.issn.1000-7857.2023.15.003

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