web3 / Web 3.0

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Web3, also referred to as Web 3.0, represents an evolving vision for the next generation of the internet, aiming to create a more decentralized, user-empowered, and intelligent web. Unlike Web 2.0, which is largely dominated by centralized platforms and corporations controlling user data, Web3 emphasizes principles like decentralization, blockchain technology, and token-based economics. The goal is to shift control from large tech companies to individual users, giving them greater ownership over their data and digital identities.

Key characteristics often associated with Web3 include:

  • Decentralization: Applications and services are built on decentralized networks (like blockchains) rather than centralized servers.
  • Verifiability & trustlessness: Interactions are often facilitated by smart contracts and transparent blockchain ledgers, reducing the need for intermediaries.
  • User ownership: Users can own their data, digital assets (like NFTs), and potentially participate in the governance of platforms.
  • Native payments: Cryptocurrencies are often integrated for seamless value transfer. While still in its nascent stages of development and adoption, Web3 aims to foster a more open, equitable, and permissionless internet experience, powering new types of applications in areas like decentralized finance (DeFi), gaming (GameFi), and social media.
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