Web3 is a term used to describe a potential future iteration of the internet, built on concepts like decentralization, blockchain technology, and token-based economics.
Here's a breakdown of what that means:
Decentralization: In the current Web 2.0, a small number of tech companies control a large swath of the data and content we see online. Web3 proposes a more distributed model, where users have more control over their data and how it's used.
Blockchain technology: Blockchain is a system for recording information in a way that's secure, transparent, and difficult to tamper with. Web3 would leverage blockchain to create applications and platforms that aren't reliant on any one central authority.
Token-based economics: Cryptocurrencies and other digital tokens could play a bigger role in Web3. These tokens could be used to access services, participate in online communities, or even represent ownership of digital assets.
Think of Web2.0 as the social media age, where user-generated content and interaction are key. Web3, in theory, would be a more democratic and user-owned internet.
Here are some resources if you'd like to deep dive further:
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