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What is Web3?
Web3 is the vision of a decentralized internet where users own their data, identity, and digital assets through blockchain. It contrasts with Web2 (centralized platforms like Google, Meta).
Full Explanation
Web3 refers to the next evolution of the internet built on blockchain technology, emphasizing decentralization, user ownership, and token-based economics. Web1 (1990s) = read-only web. Web2 (2000s) = read-write platforms (social media, owned by companies). Web3 = read-write-own (users control their data, identity, and assets via wallets). Web3 technologies include: blockchain, smart contracts, DAOs, NFTs, DeFi, decentralized storage (IPFS), and self-sovereign identity. Critics argue true decentralization is rarely achieved.
Related Terms
Last updated: 2026-03-21
