What is Web3?
Web3 (or Web 3.0) is the next evolution of the internet ā decentralized, user-owned, and powered by blockchain technology.
š From Web1 ā Web2 ā Web3
- Web1 (1990sā2000s): Read-only websites. Static pages. You consume content.
- Web2 (2000sā2020s): Interactive. Social media, apps. You create and share content, but platforms own your data.
- Web3 (Now and Future): Decentralized apps (dApps), blockchain-based. You control your identity, data, and assets.
š Key Features of Web3
- Decentralization: No single authority controls the system. Power is distributed.
- Ownership: You own your assets (crypto, NFTs) and identity (via wallets).
- Permissionless: Anyone can participate without needing approval.
- Trustless: Smart contracts replace middlemen. The code executes transparently.
š§ Real-World Analogy
Web2 is like using Facebook ā you use it for free, but they control your data.
Web3 is like joining a cooperative ā you help run it and benefit from its success.
š Examples of Web3 Applications
- Ethereum: Smart contract platform for building dApps.
- Uniswap: Decentralized exchange (DeFi).
- Brave: Browser that rewards users in crypto for viewing ads.
- Lens Protocol: A Web3-native social graph.
Category: DeFi & Web3