Web3:The Decentralised Web

Web3, which is also known as the decentralized web, refers to the next evolution of the internet, where decentralized technologies like blockchain, peer-to-peer networks, and decentralized storage are used to create a more open, transparent, and user-controlled internet. In contrast to the current web, which relies heavily on centralized intermediaries such as tech companies and governments, web3 aims to give users more control over their data and online identities, while also enabling new business models and applications that can function without the need for intermediaries. Some of the key technologies that underpin web3 include decentralized finance (DeFi), non-fungible tokens (NFTs), decentralized autonomous organizations (DAOs), and decentralized applications (dApps). Overall, the vision of web3 is to create a more decentralized, open, and inclusive internet that empowers users to take ownership of their digital lives and participate in the creation of new value and opportunities.