What is Web3?
Web3 is the next evolution of the internet that uses blockchain technology to create a decentralized, user-owned digital world. Unlike Web1 (static websites) and Web2 (interactive platforms controlled by big tech companies), Web3 gives control and ownership back to users.
In Web3, data is stored on blockchains or decentralized networks instead of company-owned servers. This allows for transparency, privacy, and censorship resistance. Users can own their identity, data, and even digital assets like NFTs or tokens.
One key feature of Web3 is the use of cryptocurrencies and smart contracts to enable trustless transactions. For example, instead of using PayPal or a bank, you can send money directly through crypto wallets like MetaMask.
Popular Web3 applications include decentralized finance (DeFi), decentralized apps (dApps), NFT marketplaces, and DAOs (Decentralized Autonomous Organizations). These systems operate without a central authority and are often governed by token holders.
Web3 promises a fairer internet by reducing reliance on middlemen. However, it’s still early, and challenges like scalability, user experience, and regulation need to be solved.
In short, Web3 is about an internet where you control your assets, your identity, and your future—without needing permission from tech giants.
