Overview
Web3 is the vision of a decentralized internet built on blockchains, tokens, and user ownership. It contrasts with the platform-controlled Web 2.0. Web3 gives users control over data and value.
How It Works
Web3 applications run on blockchains and use wallets for identity and ownership. Users hold their assets, data, and identities. Protocols are governed by their communities.
Why It Matters
Web3 redistributes power from platforms to users, enabling open and composable applications. It is the broader context for DeFi, NFTs, and DAOs. Its adoption is central to the future of the internet.
Related Concepts
Web3 encompasses DeFi, NFTs, DAOs, and Decentralized Identity. It is built on Blockchain infrastructure.