Will Decentralized Web can become the future of secure internet……. or not?
A Decentralized internet also known as web 3.0 or the semantic web is, an emerging technology that aims to revolutionize the internet world we know today i.e., moving away from centralized resources, access points, or systems where any type of central authority cannot own or control it. The resources we create and own on the internet will remain totally in our hands. To think, the goal of decentralized web is to reduce or eliminate dependence on centralized technologies which has a possibility for corruption or failure. Apps, and websites however always thrive for a centralized model. For example, the client/server model, where a huge amount of uploading and downloading of data is carried out. Therefore, decentralized web is based on blockchain platforms that enable peer-to-peer (P2P) transactions.
Current condition of the internet
The Internet has come a long way in becoming a prevalent part of our day-to-day realities in this modern world due to its constant evolution and growth over the years providing access to information, communication, and entertainment.
Here are some key aspects of the current internet structure –
· Over the years, people from around the globe become more accessible to the internet by using mobile phones, which ultimately reduced its cost.
· Increase in the usage of social media platforms like Facebook, Twitter, and Instagram
· The rise in the popularity of e-commerce platform Amazon and Alibaba etc. generally made online shopping possible.
· Increase in government regulations like regulating the internet, data protection, and online speech.
Limitations
Centralized internet has a set of defined command chains under which one central node or collection of nodes is responsible for transactional verifications, but it still has a lot of demises.
Let’s take a look into some of its major factors….
1. TRUST
Centralized organizations tend to agree that their services are 100% trustable and secure, but on the other hand, it is not always correct and legitimate. So, there is always a chance that the agreement made between the customer and the service provider may break easily.
2. SECURITY ISSUES
Security issues are another massive problem faced by the people in the case of centralization. In this case, the whole network is running on a single server which is handling many operations at a time, therefore when a single point of failure occurs in the master server, it can become a risk heavy risk factor for the organizations and the ‘client machines’ attached to the server fails to provide user requests.
3. LIMITED SCALABILITY
All applications and processing units are kept in a single server which offers limited scalability; its only solution is adding more storage to the server to scale the network, I/O Bandwidth, etc. which is not cost-effective in the long run.
Let us look into some of the popular data breaches in the recent years.
· YAHOO (3,000,000,000 RECORDS LOST IN 2013)
· AADHAR (INDIA’S BIOMETRIC DATABASE LOST 1,100,000,000 RECORDS IN 2018)
· FACEBOOK (LOST 533,000,000 USER ACCOUNTS IN 2021)
· MARRIOT INTERNATIONAL (LOST 383 MILLION RECORDS IN 2018)
“so how can decentralized internet be used as a solution to this problem?”
There are numerous benefits of a decentralized web, but its main ability is to provide greater privacy and security for users.
· ABSENCE OF CENTRAL AUTHORITY
Currently we store our data on centralized servers, controlled by huge tech companies making it vulnerable to hacking, data breaches, and misuse. The decentralized web stores on a distributed channel of nodes which makes it much harder for hackers to modify the networks.
· EMPOWERING EQUITABLE DISTRIBUTION
It gives full potential to create a more equitable distribution of power and resources than a centralized web which provides significant power over user data and behaviour.
· FREEING INTERNET CENSORSHIP
Decentralized web can help to lift internet censorship regulated by the government which could provide a more censorship-resistant platform for all users.
· DECENTRALIZATION IN FINANCE
Ability to conduct various transactions including buying and selling of services without any word of approval by the central authority.
“In spite of providing such benefits the web 3.0 still yet to work at its full potential”.
Decentralized internet is not always a sure bet, it could sometimes provide troublesome issues and events if not carried out in the following ways.
· TECHNICAL REQUIREMENTS
Web 3.0 needs above–average specifications, and it will be a strong challenge to the existing businesses to retain themselves in the market as a lot of pressure might be faced by the marketers due to the popularity of web 3.0-based websites.
· REGULATORY CONCERNS
A decentralized web lacks regulation compared to the current centralized web. Without effective regulatory and compliance regimes, it may be challenging to ensure the safety of the web activities of the users. On the other hand, the existing regulatory and compliance frameworks may not be effective in the decentralized web creating difficulties for online businesses in the market.
· COMPLEXITY
Web 3.0 works significantly on blockchain technology, decentralized networks, and smart contracts, making it more complex for an average user to understand compared to web 2.0. It could severely limit its adoption and use by putting a barrier in front of user understanding.
· SECURITY ISSUES
Although decentralization of the web completely negates central authority and positively supports independence over personal data, it remains to be a challenging factor for individual users to keep their resources online. Its technical complexity could increase the risk of cybercrimes and the further use of blockchain, and cryptocurrency can complicate the issue more. In the future, users might take time to invest their beliefs in such technologies until they make sure their online activities are safe and secure.
WHAT WILL HAPPEN IN NEAR FUTURE…….?
Well, the future remains always uncertain, but day by day these technologies are emerging and evolving vigorously. Web 3.0 will change the structure of the internet.
Blockchain technology which is a fundamental component of web 3.0 has already proven to be a disruptive force in various industries. Due to limitations in the current centralized web, it is giving rise to decentralized technologies that can offer greater control and autonomy to the users. Anyways, there are challenges to be addressed such as scalability, usability, and regulatory issues.
Therefore, the potential benefits of web 3.0 technologies coupled with a properly growing ecosystem and investment will likely evolve continuously and will finally become an integral part of the internet.
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