Week 1, Day 5: Key Components of WEB3 You Should Know
To understand WEB3, you need to know its building blocks. Here are the key components:
🔗 Blockchain – The backbone of WEB3. It’s a secure, transparent digital ledger that records transactions without the need for a central authority.
💰 Cryptocurrencies – Digital money like Bitcoin and Binance Coin (BNB) that powers transactions in WEB3 ecosystems.
⚡ Smart Contracts – Self-executing contracts with rules written in code. They automatically carry out actions when conditions are met—no middlemen needed.
🌐 Decentralized Applications (DApps) – Apps that run on blockchains instead of centralized servers. Examples include DeFi platforms and NFT marketplaces.
🖼️ NFTs (Non-Fungible Tokens) – Unique digital assets representing ownership of art, music, virtual items, and more.
🔑 Digital Wallets – Tools like MetaMask or Trust Wallet that store your crypto and let you interact with DApps securely.
These components work together to create the WEB3 universe. Which one interests you the most? Let me know in the comments!
