#CryptoFacts
š 1. What is Web3?
Web3 is the decentralized version of the internet powered by blockchain, where users control their data, identities, and assets without intermediaries.
š 2. Wallets = Identity
In Web3, your crypto wallet (e.g., MetaMask) acts as your digital identity ā it's how you log in, interact, and transact.
š 3. No Middlemen
Smart contracts replace centralized companies ā no need for banks, brokers, or even cloud providers.
š 4. Built on Blockchains
Web3 apps (dApps) are mostly built on Ethereum, Solana, Polkadot, Avalanche, and similar platforms.
š 5. You Own the Data
Unlike Web2 (Google, Facebook), Web3 users own and monetize their data ā not the platforms.
š 6. Tokens Power Everything
Most Web3 platforms have their own native tokens used for governance, staking, or access ā examples: ETH, SOL, DOT.
š 7. DAOs = Decentralized Governance
Web3 projects often use DAOs (Decentralized Autonomous Organizations) for voting and decision-making ā no CEO needed.
š 8. NFTs Beyond Art
In Web3, NFTs can represent identity, access passes, game items, and more ā not just digital art.
š 9. Interoperability
Web3 pushes the concept of a composable internet ā protocols and apps that can connect, share, and evolve together.
š 10. Still Early
Web3 is still in its early phase ā adoption, scalability, and regulations are all evolving.
