Web3 is a term used to refer to the next generation of the Internet, in which users are able to interact with one another directly and securely. It provides an infrastructure for decentralized applications (dApps) built on blockchain technology. Web3 builds upon existing web technologies such as HTML, CSS, JavaScript and more by providing users with a platform that allows them to access and use distributed ledgers without having to rely on centralized services or third-party entities.
Unlike previous generations of the web, Web3 focuses on user privacy, security and trustless interactions between people or machines using digital assets stored on a blockchain network. This is made possible through features such as smart contracts that allow individuals or organizations to create agreements digitally without requiring any intermediary parties; cryptographic signatures that provide secure authentication for transactions; non-fungible tokens (NFTs), which offer unique digital assets like artworks or collectibles; decentralized exchanges where users can trade cryptocurrencies directly from their wallets; and permissionless networks where anyone can join in order to participate in activities like mining new coins.
The goal of Web3 is not only to improve user experience when dealing with digital currencies but also make it easier for developers around the world build secure dApps that leverage blockchain technology. With its promise of decentralization and improved security measures, Web 3 has become increasingly popular among cryptocurrency enthusiasts who see it as an opportunity for greater financial freedom through peer-to-peer transactions over the internet.
