Web3

Web3 refers to the next generation of the internet, where decentralized technologies like blockchain enable users to control their data, interact with decentralized applications (dApps), and benefit from the use of cryptocurrencies and tokenized economies. Unlike Web 2.0, which relies on centralized platforms and services controlled by companies like Google, Facebook, or Amazon, Web3 emphasizes user ownership and decentralization. Key technologies underpinning Web3 include blockchain, smart contracts, decentralized storage systems, and decentralized finance (DeFi) protocols. Web3 seeks to create a more open and transparent internet, where users can retain control over their digital identities, assets, and data, without relying on intermediaries. Examples of Web3 applications include decentralized exchanges (DEXs), decentralized social networks, and peer-to-peer marketplaces. The rise of Web3 is seen as a shift from the centralized control of the internet to a decentralized future, providing more opportunities for users to participate in governance and decision-making processes.