Web3
In short: Web3 is the vision of a decentralized internet, where users hold their own data, digital assets and online identity through blockchains instead of…
Web3 is the vision of a decentralized internet, where users hold their own data, digital assets and online identity through blockchains instead of depending on a few large platforms. The name sets it apart from Web1, the mostly read-only early web, and Web2, the interactive but platform-centered web of social networks and apps.
Why it matters
In Web3 applications, a crypto wallet often replaces the usual username and password, and tokens can represent ownership, access or voting rights. The rules of a service are written into smart contracts that anyone can inspect, rather than kept on a company's private servers. Supporters see this as a way to rely less on middlemen, while critics point to poor usability, frequent scams and the many "Web3" services that still depend on centralized infrastructure. Knowing the idea helps you judge what a given product really decentralizes.
Example
On a traditional social network, your profile and followers live in the company's database, and the company can suspend your account. In a Web3-style app, you connect a wallet instead of creating an account, your username might be an NFT held in that wallet, and your posts could be stored on a decentralized network. If another app supports the same standards, you could take that identity with you instead of starting from zero.