Entity: WEB3
Web3, also known as Web 3.0, is an emerging concept for the next iteration of the World Wide Web that emphasizes decentralization, blockchain technologies, and token-based economics.
WEB3
Etymology
The term Web3, derived from Web 3.0, signifies the evolution of the internet towards a more decentralized and user-centric model.
Definition
Web3, also known as Web 3.0, is an emerging concept for the next iteration of the World Wide Web that emphasizes decentralization, blockchain technologies, and token-based economics.
Historical Context
Web3 builds upon the foundations of Web 2.0, incorporating blockchain technology, smart contracts, and decentralized applications (dApps) to create a more secure and transparent online ecosystem.
Cultural Significance
Web3 represents a paradigm shift in how we interact with the internet, offering increased privacy, data ownership, and financial autonomy to users. It has the potential to revolutionize industries such as finance, healthcare, and supply chain management.
Related Concepts
Web3 is closely related to concepts such as decentralized finance (DeFi), non-fungible tokens (NFTs), and the metaverse, all of which contribute to the vision of a more decentralized and interconnected digital world.
See Also
An innovative vision for the future of the internet, Web3 aims to create a more decentralized, secure, and user-centric online environment by integrating blockchain technology and token economies.