Web3

Web3 refers to the third era of the internet, focusing on decentralized protocols and technologies that enable a more open and trustless web. It represents a shift from the current model where many online activities are mediated by centralized entities to a model where users have greater control over their data and interactions.

Key components of Web3 include blockchain technology, decentralized applications (DApps), smart contracts, and peer-to-peer networks. Blockchain, particularly with the use of cryptocurrencies, provides a decentralized and secure way of recording and verifying transactions. Smart contracts are self-executing contracts with the terms of the agreement directly written into codWeb3 aims to create a more user-centric, transparent, and permissionless internet where individuals have greater ownership of their digital identity and assets. It is often associated with the development of decentralized finance (DeFi), non-fungible tokens (NFTs), and various blockchain-based applications.and various things