What is Web 3?

Web3, also known as Web 3.0, is the next generation of the internet where the emphasis is on creating a decentralized, autonomous, and trustless network. Unlike the current web (Web 2.0), which is centralized and controlled by a few large companies, Web3 aims to create a network that is decentralized and controlled by its users.

One of the key technologies driving Web3 is blockchain, which is used to create decentralized networks that allow for the creation of digital assets, smart contracts, and decentralized applications (dApps). These decentralized networks allow for the creation of a trustless and autonomous system, where transactions can be made without the need for intermediaries.

Some of the key features of Web3 include:

• Decentralization: The network is not controlled by a single entity, but rather by a decentralized network of nodes.
• Autonomy: The network is self-governing and self-sustaining, with no need for intermediaries.
• Trustlessness: The network is designed to be trustless, so that users can transact without the need for intermediaries or middlemen.
• Interoperability: The network is designed to be interoperable, allowing for the seamless transfer of data and assets between different decentralized networks.
• Programmability: The network is programmable, allowing developers to create decentralized applications (dApps) that can run on the network.

Overall, Web3 represents a major shift in how the internet is organized and how value is exchanged, and has the potential to enable new forms of decentralized social and economic systems.