A detailed guide to Blockchain 4.0

---

Blockchain has a good rise in a shorter interval of time. It introduces in the form of 

Cryptocurrency in blockchain 1.0

Smart contract in blockchain 2.0

dApps in blockchain 3.0

Now, what blockchain 4.0 have brought to us, let unfold blockchain 4.0.

We can reduce Blockchain 4.0 applications into three specific components - Web 3.0, Metaverse, and Industry 4.0. Let's take a look at each component

Web 3.0

The internet is constantly changing, and we are on our way to the third iteration of internet services, which comes with technological advances such as IoT, Blockchain, and Artificial Intelligence. 

Web 3.0, which focuses on international distribution at its core, is why Blockchain plays a prime role in its development.

Web 2.0 has made a difference in opening up new social media options. To take advantage of these opportunities, we as a consumer are putting all our data into centralized systems, sacrificing our privacy, and exposing ourselves to all common online threats. Also, the managing of Web 2.0 forums are by central authorities that set rules of practice while managing user data. The global financial crisis of 2008 revealed gaps in centralized control, which paved the way for fragmentation. The world needs Web 3.0 - a private user forum.

Web 3.0 aims to create an independent, open, and intelligent Internet and will rely on distributed protocols, which Blockchain can offer. The development of Blockchain third-generation is to support web 3.0. But, with the rise of Blockchain 4.0, we can expect the emergence of web-based 3.0 chains. It will include integrated collaboration, automation through smart contracts, seamless integration, and storage for P2P data files.

Metaverse

Metaverse is growing faster, and many technological giants like Facebook, Microsoft, Nvidia, and more, consider it the next big technology.

We are connected globally with various contact areas, such as social networking, gaming, networking, and more. Metaverse will make this experience vivid and natural. Advanced AI, IoT, AR & VR, Cloud computing, and Blockchain technology will work to create real-time Metaverse spaces, where users will interact with computer-generated space and other users through the real-time experience.

The more we talk about Metaverse, the more it will seem strange to us, especially when we think about it in terms of sports, big art shows, concerts, workplace board rooms, and so on. But, let's look at how blockchain technology can help improve Metaverse.

Centralized Metaverse combines more powerful user interaction, depth use of online services, and more disclosure of personal user data. All of this probably means exposure to cybercrime. Enabling centralized structures to control, manage and distribute user data is not a sustainable Metaverse future setup.

Therefore, emphasis has to place on the development of Metaverse platforms that will provide user autonomy. Also, the working of Decentraland, Axie Infinity, and Star, all of these Metaverses are with Blockchain:

Also, advanced Blockchain 4.0 solutions can help Metaverse users manage their security and trust needs. Take the Metaverse playground, for example, where users can buy, own, and trade in-game items at a much higher value. Proof of ownership of a fixed and rare item such as NFTs will be required to prevent fraud in these assets.

Blockchain solutions, especially those expected in Blockchain 4.0, can help manage the following Metaverse development needs:

• Division of countries
• Extended data management
• Security
• Digital Proof of Identity
• Digital collection of assets (such as NFTs)
• Dominance
• Value transfer via crypto
• Interaction
• Industrial Transformation 4.0

We can look at the concept of Blockchain 4.0 as a vision that fuels all development efforts aimed at making Blockchain operational in Industry 4.0. The world has always needed an industrial revolution to disrupt people's ideas and jump into new things from time to time. As the steam engine or the internet started to revolutionize the previous industries, Blockchain is now advancing the fourth industrial revolution. According to World Bank experts, Blockchain is the fourth pillar of industrial change because it has the potential to reduce corruption by increasing openness in commercial operations, government processes, and supply chains.

The World Bank also seeks to ensure that developing economies can use blockchain technology to eradicate extreme poverty and increase shared prosperity. Bond-i, a new credit product sponsored by Blockchain, has been introduced by the World Bank. Also, the use of Blockchain is to build, share, and manage a tool throughout its life cycle.