Introduction to Web 3

7 Mar 2023

Web3, also known as Web 3.0 or the "decentralized web," is the next generation of the World Wide Web that aims to create a more decentralized and democratized internet. While Web 1.0 was a read-only web of static content and Web 2.0 was a read-write web of user-generated content and social media, Web3 is a read-write-execute web of decentralized applications (dApps), smart contracts, and cryptocurrencies that are built on top of a decentralized infrastructure.
The main pillars of Web3 are blockchain technology, peer-to-peer networking, and cryptography. Blockchain technology allows for the creation of a secure and transparent digital ledger that can be used to store and exchange value, while peer-to-peer networking enables direct communication and data exchange between users without the need for intermediaries. Cryptography provides secure and private communication and authentication of users.
Web3 applications are built on decentralized platforms such as Ethereum, Polkadot, or Solana, and are accessed through decentralized web browsers or portals such as MetaMask or Brave. These applications range from decentralized finance (DeFi) platforms, decentralized marketplaces, and social networks, to decentralized gaming and identity verification systems.
One of the key features of Web3 is its focus on user ownership and control over data and assets. With Web3, users have full ownership and control over their digital identities, personal data, and assets, and can interact directly with other users or applications without the need for intermediaries. This creates a more democratic and decentralized internet where users have greater control over their online experiences.

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