Web 3.0 (also known as as Web3) represents the next evolution of the internet, built on decentralized technologies such as blockchain. In Web 2.0, data and applications are controlled by centralized entities (such as Google, Facebook, and Amazon), while on Web3 control returns to the users, allowing for greater privacy, security, and ownership.
Web3 uses blockchain technology to enable peer-to-peer interactions without intermediaries, allowing individuals to directly control their digital assets, identities, and transactions. Important elements of Web3 include cryptocurrencies, smart contracts, and decentralized applications (dApps).
With Web3, users can participate in decentralized finance (DeFi), trade non-fungible tokens (NFTs), and interact in decentralized social networks.
Web3 has become popular nowadays because it is blockchain based and freedom from middlemen and third party authority and security which makes it more unique. Thanks for the nice write up on this.
Web3 seems still in is early stages. Lets see how it develops
Great overview of Web3! It's exciting to think about a future where we have more control over our digital lives. Decentralized finance and NFTs are definitely game-changers. Always good to remember to consult the pros before diving into financial decisions, though. Thanks for the insights! 😊
Independence from the middle men is the goal
Web3 does bring freedom and decentralization, but how we can ensure that ordinary users remain protected from risks such as scams or losing access to their assets is also important to consider, I think.
Protections need to be developed
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