What is Web3?

Web3, also known as the decentralized web, is the next evolution of the internet. It is a network of decentralized technologies that allow for peer-to-peer interactions without the need for intermediaries or centralized authorities. Unlike Web2, which is dominated by big tech companies and relies on centralized servers, Web3 is built on blockchain technology and other decentralized protocols.

Web3 enables users to own and control their data, identity, and digital assets. It also allows for the creation of decentralized applications (dapps) that can operate independently of centralized control. These dapps can be used for a variety of purposes, such as social networking, gaming, finance, and more.

One example of a Web3 platform is Ethereum, which is a blockchain-based platform that enables the creation of decentralized applications and smart contracts. Another example is IPFS (InterPlanetary File System), which is a decentralized file storage system that allows for the sharing and distribution of files without relying on centralized servers.

Overall, Web3 represents a shift towards a more open, transparent, and decentralized internet that empowers individuals and communities.

For more information on Web3 and its technologies, check out the Web3 Foundation and the Ethereum website.