What is the Web3 network in brief
Web3 Network: The new internet that changes the rules
It is the third generation of the internet, built on blockchain and decentralized technologies, aimed at returning power to users instead of large companies like Google and Meta.
The difference between Web2 and Web3:
- The current internet Web2:
Centralized (controlled by companies like Facebook and Google).
Users are given free services in exchange for their data.
Payments through traditional systems (PayPal, banks).
- Web3 Network:
Decentralized (operates through blockchain networks).
Users own their data and digital assets (like NFTs).
Payments via cryptocurrencies (Bitcoin, Ethereum).
Key Web3 Technologies:
1. Blockchain: A secure and transparent digital ledger (like Bitcoin, Ethereum).
2. Smart Contracts: Self-executing programs without intermediaries.
3. Decentralized Applications (DApps): Like Uniswap and OpenSea.
4. Digital Identities: Login without passwords (using wallets like MetaMask).
Benefits of Web3:
- Data Control: You own your information.
- Direct Payments: Transfer money without banks.
- Censorship Resistance: You cannot be banned or have your content deleted.
