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Web3 in the World of Digital Currencies
The term Web3 in the world of digital currencies refers to the third generation of the internet, which aims to create a more decentralized and transparent internet, based on blockchain technologies and digital currencies.
๐The difference between Web1, Web2, and Web3:
Web1 (Traditional Internet)
๐ Read-only Internet - users consume content with minimal interaction
Web2 (Interactive Internet)
โ๐ Read and write Internet
Web3
๐ฐ๐โ๐๐ Ownership and Decentralized Internet
Users own their data, direct interaction through smart contracts, no intermediaries
โจ Features of Web3 in Digital Currencies:
* Decentralization: No central party controls information or assets.
* Smart Contracts: Automatically executed without human intervention once conditions are met.
* User Ownership: Users own their digital assets like NFTs and currencies.
* Privacy: Full control over data and personal information.
* Interaction with Decentralized Applications (DApps)
๐๐ฏExamples of Web3 Projects:
Ethereum: The foundational infrastructure for many Web3 applications.
Polkadot, Solana, and Near: Chains that support Web3 applications.
MetaMask / WalletConnect: Tools for connecting wallets to Web3 applications.