Introduction to Web3

Web3 Explained.

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Introduction to Web3

Web 3 (also known as Web 3.0 and sometimes stylized as web3 is an idea for a new iteration of the World Wide Web which incorporates concepts such as decentralization, in the form of a distributed ledger such as blockchain technologies, and token-based economics.

The World Wide Web is controlled by a handful of centralized corporations such as large tech companies that exert a stronghold over it. As such, these entities are able to decide who can access the Internet, what is allowed on the Internet, and what is not allowed.

Web3 seeks to solve this dilemma by decentralizing the a new World Wide Web that is being built, owned, and operated by its users. With this, Web3 puts control in the hands of individuals and users instead of corporations.

Unlike with current Web 2.0, platforms and apps are owned, developed, and maintained by decentralized entities such as the platforms users.

Web3 reimagines the Internet in a decentralized form where users become owners.

Ownership can be represented in Web3 by digital tokens or two currencies that are managed through distributed letter technologies such as blockchains.

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