Web 1.0 was basic connection via the Internet, where information flowed one way and was rarely updated. Web 1.0 ended in 2001 with the crash of the dot com era that some estimate cost in excess of $5 Trillion. The Web 1.0 lesson: Cash, not content, is king.
Web 2.0 marked the beginning of the 'two sided Internet,' where we started using the Internet to talk to one another. This interactivity generated billions of dollars in data - virtually for free. The Web 2.0 lesson: Sustainable revenues are possible.
Web 3.0 offers detailed data exchange to every point on the Internet, a 'machine in the middle,' with three main characteristics:
1. Smart internetworkingThe Internet itself will get smarter and become a gathering tool to execute relatively complex tasks and analyze collective online behavior.
2. Seamless applicationsWeb 3.0 theories suggest that all applications will fit together; a continuation of open source where all applications will be able to communicate. APIs will read data from any platform and provide a single point of reference.
3. Distributed databasesWeb 3.0 will need somewhere to store very complex and memory intensive information. It will require ontologies to establish relationships between information sources; search millions of nodes, and scan billions of data records at once.