Web 3.0 App Development – Cost & Key Features
“The Spatial Web not only easily solves all these problems but provides new insights and data to drive the fourth transformation of computing: connecting the digital and physical worlds into one integrated universe of objects and ideas. The impact of this new Spatial Web 3.0 will dwarf that of the Internet and change how we live, work, and thrive.” ― Gabriel Rene
The tech expert reflects how we as humans are inclined toward technology and are looking forward to exploring the new aspects. TBH, web 3.0 is the iteration of the internet that when considered is too good to be real. It works on the principle of eliminating the middleman from the story. This internet technology revolves around Machine Learning, Artificial Intelligence, and Blockchain to get real-life communication. One would not simply own their data over the internet but would be compensated for the time invested.
Yes, web 3.0 app development is the iteration of the Internet after web 1.0 and web 2.0 and it offers some amazing features that would help you build a strong business. Since this is, for now, the buzz in the B-Town, leverage the power of the technology to take your business ahead of your competition.
Before we see what Web3 has to offer us on the screen, let’s have a sneak to the past and see the evolution of the Internet and how it reached its current iteration.
Evolution of Web 3.0 – Long Story Told Real Short!
Understanding the beginning of the story and then how it has evolved the present picture plays a dominant role in the picture. We have been working on web 3 app development for organizations around the world and affirm that the solutions that are dropped to you are interesting and engaging. With secured solutions being our priority we have come a long way and affirm to guide you through the best practices that can help us build a stronger environment. Before we dive further into web 3.0, we need to understand how we got here – via web 1.0 and web 2.0.
Static Web or Web 1.0: 1990 to 2004
Let’s start from the time when the user involved as a content contributor would have felt strange. This is the time when the internet was available as a read-only platform. You can think of it as a Content Delivery Network, where the users can easily consume the information that is given on certain web pages hosted over various web servers. Back then, the web pages weren’t a bit interactive as content creation just saw the light of the day and wasn’t sure what was up. The first global network was available on the screen leveraging the power of the web technologies like HTTP, HTML, and URL.
Although Web 1.0 wasn’t very interactive back then it paved the way for the internet interaction that we see today. In a decade, the internet proved its potential, and various industries around the world adopted it. The most dominant sectors that are backed by the internet for their flawless functioning are healthcare, banking, education, entertainment, etc.
Over time, people had so much to talk about and read about.
The need for the readers and users to produce the content that goes over the internet paved the way for what we had been using lately, web 2.0.
Interactive Web or Web 2.0: 2005 to 2012
Now that we are here, after phase 1, we need to make a strong solution. A simple thing that we now expect is the ease to contribute to the internet. Till the time being the users were consuming the data that was fed to them. With emerging technologies, we stepped up and the users could create the content for themselves easily. Web3 app development brought to the picture a new way of sharing data. The new era saw social media as a strong place to share its content. Some of the early startups (yes, even before Facebook) were MySpace and Friendster which offered the users a platform to share their ideas and interact with each other.
Not just this, as the mobile internet gradually became a household thing this transition of how things functioned over the internet saw a new development. Making the best of the opportunity the tech giants of the day like Apple, Amazon, Facebook, and Google climbed up their ways and shared their experiences, businesses, etc. around the globe easily.
This transition further inspired people to generate income from online services like delivery, product sale online, renting properties online, and others. Not just this, a few industries that today leverage the internet to their best at that time were struggling with the existential crisis. Most industry giants took over the internet as web 2.0 made it a little easier to share your story over the internet. With the right strategies, the internet saw some of the best advertising campaigns of all time. The tech giants made users dependent on their platforms to share data and the ownership claims became a serious concern.
Read Also: Top 10 Web Development Stacks you need to look out for in 2022
The ownership of data that is fed to the internet is one of the prominent reasons why the world saw the need for the web 3 app development.
Actionable Intelligent Web: 2006 to Present
Yes, the read-write-interact web has been in the market for more than a decade. The question is if it has been in the market for so long why are we talking about it today? Well, we’ll discuss this after a quick read of web 3.0 came into existence.
With ease to interact with the content, using 3D graphics on websites and apps the companies could convey better and clearer. For a major part of the journey of content over the internet, the tech giants have claimed the ownership and the users are barely recognized. Web3 app development company affirm to develop platforms that give creators their share of credits.
With web 3.0 leveraging the power of blockchain technology, it became much easier for content creators to claim their work online. They can earn profits on their creations without losing ownership of the creation. They would also be able to interact with AI and ML exactly like other human beings.
That was a long journey from the 1980s to the 2020s. Yes, in the past three decades we have seen the internet grow and pull other industries to a better place with itself.
Before we move forward and see how web3 can help you build a strong presence in the market, let’s see a few features of the technology that makes it the new buzz in the tech-town.
Web 3.0’s Defining Characteristics
Decentralization Is the Key
When we talk about Web 2.0, the information is dug using HTTP in the form of unique web addresses that are stored in specific locations. In the case of web3.0 app development the technology allows information to be retrieved based on its content, it isn’t necessarily stored in a central location but available over several locations at the same time. Since the information is kept at various locations at once, it is decentralized. This is the major feature that would deconstruct the vast databases by tech behemoths like Facebook (now Meta) and Google, giving people more power.
Web3 app developer builds a platform that gives content creators the ability to sell data that are created by them over a variety of resources such as mobile phones, desktops, appliances, automobiles, and sensors.
Credibility Over Everything
We have been talking about how web3.0 is making it easier for us to engage without any third party. Thus, the content creator is the sole owner of their work. Thus the chances of fraud is lesser and they can buy better and more.
Technology Changes the Face
If you want to develop a web3.0 mobile app you need to be aware of what the latest technology has to offer. Artificial Intelligence and Machine Learning based solutions like semantic web and NLP are making it easier for machines to analyze and interpret the data exactly as humans do.
With data and algorithms to function as humans, the efficiency and accuracy would be like never before.
Adopting web 3.0 isn’t just to keep up with the trend but to make the best of the technology. As we have discussed web 3.0 brings with itself a lot of advantages, we must be ready to embrace the new journey.
Embrace Web 3.0 for a Trusted and Credible Business
Make Customer Journey Easier
The decentralized system that blockchain brings with web 3.0 makes the onboarding process easier and simpler. Not sure exactly how?
Well, here’s how it would function. You may have logged in to various websites via your Facebook ID only. With blockchain, the same concept works but the information of the user isn’t stored. It is because as we mentioned this is a part of a decentralized system, the end-user is the owner of their data. Thus, your customer would have a really simple way to sign-up with your website and be very sure that their data isn’t being breached or sold somewhere else.
Removing data security issues is one of the major aspects of any business online.
It is not just the onboarding process but in general the user journey. With AI-based predictive analysis, NLP and CSV the consumer experience becomes efficient and effective.
Artificial Intelligence has automated the journey and added certain elements of the process to be automated which means that businesses will be able to allot more human resources to the parts that need human intervention.
The fear that technology would take up human jobs is still a myth as we live in an environment of coexistence.
Building Customer Trust
According to a recent report published by KPMG, the data practices that companies follow to make their customers a little uncomfortable and very unsatisfied. The major issue is regarding the privacy issue and the threat to their privacy and confidentiality. Over the years, the users have become aware of how their data is transmitted in the market and how even the tech giants make great profits out of that. This reflects with the aware customer base, the businesses need to focus on customer satisfaction with consumer privacy and new practices that affirm that the consumer data is safe with them. To stand ahead of your competition in the market one needs to be sure that they put in all their efforts to restore the lost trust.
With web 3.0 in the picture, it becomes a little difficult for the companies to own or access the data on their own thus making the data automatically decentralized and therefore transparent.
With data security being neglected over the years it is important to protect your content and customer information from data breaches and identity theft. According to the experts of the blockchain industry, returning the ownership of the information to the consumers would even disrupt the tech industry.
Who doesn’t remember when Mark Zukerberg had to publicly apologize and suspend accounts of thousands of Facebook users under data threats. The way the social media giant then faced the unfair situation was hurtful and quite complicated.
With advanced technology and smart contracts over the blockchain network, data security is not just a need but a service now that almost all big organizations around the world offer.
The good part here, these contracts are self-executing. In simpler language, the terms of the agreement between the seller and buyer are the codes over the internet. All the transactions and exchanges made via the platform are easily trackable and irreversible. Smart contracts save time and conflict; and they are cheaper, faster, and more secure than traditional payment systems.
Improved Knowledge of Your Customers
As we have followed till here, web 3.0 doesn’t let organizations collect a lot of data from their customers, the issues of third-party ID authentication are no more required. Instead, advanced technology now extends its helping hand to offer some new ways to engage with the customers and collect information about user behavior.
Companies no longer rely on stored data or market models that bring in data, instead, they use a decentralized model to align all users under one ecosystem. With user-generated online content and interaction with the users, the consumers are more open to the functioning of the solutions.
It makes it easier for the users to interact with the voluntary and the published preferences that adapt to the new product-based market.
Read Also: Top 10 Web Development Trends in 2022 Every Business Should Know
Making the Best of the Technology
We have seen the non-fungible tokens taking the world by storm in recent times in both their traditional and fractional forms. The trend is now followed by the organizations to further expand their customer base.
These NFTs are digital units that are mined and stored on a blockchain network. They can further be employed to reflect on real-world objects such as various arts. Since NFTs operate without any intermediaries as they are based on blockchains, they connect artists with the audiences directly. As there is no middle man involved the transactions are easier and there is a vast opportunity of entering the new marketplace.
NFT in many organizations is seen as a great way to digitally market. Virtual products can be linked with NFT to boost sales. One industry that is, in particular, exploring the opportunity is the gaming business.
“Every BBT fan knows how Dr. Coopers became the Sword Master after buying the Sword of Azeroth in the game World of Warcraft.”
A classic example of purchasing a virtual object back in the early 2000s.
Selling online the replicas of the elements of the game or your products is a great way to build hype and encourage people to register for the waitlists.
This is just another way how web 3 app development is bringing a great transition and bridging the gap between the real and the virtual world.
Grow Your Organization
The main motive of web 3.0 is to build a platform where the user gets ownership of the object and reduces dependency on the big tech. The SMEs can feel a sense of security from the threat that most tech giants pose to them. They are going to save tonnes from the fees they are currently paying to the middlemen. They would leverage negotiation that would erode the monopoly from the market and offer services at equitable pricing.
Sounds Convincing? If you still aren’t sure how Web 3.0 functions we share here some of the real-life examples that would give you a deeper insight into what the technology brings to the table.
Different Industries – One Technology
Let’s explore a few industries that are making the most of the technology and driving in great profits.
Social Web 3.0 Network: Sapien
A great alternative to Google or Facebook when it comes to social news, Sapien uses the Ethereum Blockchain technology. This democratized news platform has seen huge involvement of people around the globe and made social sharing much safer. With decentralized content over the internet, it helps creators monetize what they share easily.
If you are looking forward to building a social network app with blockchain technology our experts would be happy to discuss the idea and take it forward.
Chat Message Web 3.0 Network: e-Chat
A decentralized blockchain application that offers a secure messaging platform. A messaging app like WhatsApp is still a few steps behind these in terms of privacy and confidentiality that they offer. With its presence in the app store and play store, the app is already one of the fastest-growing social networking mediums one can trust.
Insurance and Banking Web 3.0 Network: Cashaa
One thing that we expect from any Fintech solution is compliance, regulation, and security. Cashaa stands on all these terms and offers crypto loans and trading platforms.
Music Streaming Web 3.0 Network: LBRY
Music streaming apps like Spotify and Wynk have seen a great demand in recent years. Following the trend, LBRY has entered the market as a digital library where it stores music, video, books, etc. with decentralized content. This is one of the earliest Web 3.0 based projects.
Remote Jobs Web 3.0 Network: Atlas.Work
A freelancing job-based platform powered by Blockchain technology. This is a freelancing ecosystem that lets freelancers connect with employers with smart contracts with a flat charge of $2 per task.
Sounds like Web 3.0 is seeping into every industry. This is how diverse the scope of the technology is. Our Web 3.0 developers can build solutions that would help you stand ahead of the competition.
Cost of Web 3 App Development
The cost of development of a Web 3.0 app is based on various factors like features, technology, region of the development team, industry, etc. For a basic Web 3.0 app development, you can take the budget of around $75k to $90k. And if you want to get a solution that is technologically advanced and has features that give a competitive edge, the budget rises from $110k to $150k.
If you want a Web 3 app development company that can make things easier for you, we are a click away.
The Final Words!
Various small firms, start-ups, and organizations have already started implementing web 3.0 as the new element in their operations. Why should you lag? Hire a web 3 app development company to take full advantage of the technology and get a competitive advantage. Simply use the most advanced interaction method available in the market to build a solution that earns well. With several blockchain solutions under our belt, we have proved our experience and expertise in blockchain technology. The dedicated Machine Learning and Artificial Intelligence Solution providing team can simply make the best of the technology to take your product to new heights.
Long story told short, we’re ready for the arrival of Web 3.0 and can assist you.