What is Web3?

Web3, also known as Web 3.0 or the decentralized web, was is the next evolution of the internet that seeks to create a more open, transparent, and decentralized network.

The first version of the web (Web 1.0) was a static collection of websites that allowed users to view information but not interact with it.

The second version of the web (Web 2.0) introduced dynamic content and social networking features, enabling users to interact with each other and with web applications.

Web3, on the other hand, aims to create a decentralized web where users are in control of their data and can interact with applications and services without intermediaries.

Mostly, it’s made possible with blockchain technology, which enables decentralized, peer-to-peer networks where users can securely and transparently exchange information and value.

Some of the key features of Web3 include decentralized identity, decentralized storage, and decentralized applications (dApps).

Decentralized identity allows users to control their personal data and identity without relying on centralized authorities such as governments or social media platforms.

Decentralized storage enables users to store their data in a secure and decentralized manner, without relying on centralized cloud storage providers.

Also, dApps are applications that run on a decentralized network, enabling users to interact with them in a secure and transparent manner.


Bottom line, Web3 is an exciting new frontier in the evolution of the internet, with the potential to transform how we interact with each other and with the world around us… but the world wasn’t ready for it (we were too greedy for Web 3.0).