Web3 is a concept that offers a different kind of internet experience than the current centralized Web2. Web3 is based on the distributed web, blockchain technology, cryptocurrencies, decentralized applications, and more, and aims to provide users with greater privacy, ownership, security, ownership of sensitive data, digital assets, smart contracts, and more. Here we will briefly explain the key features and concepts of Web3.
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Blockchain technology: Web3 is built around blockchain technology. Blockchain provides decentralization and integrity, and allows for decentralized storage and management of sensitive information and assets. This increases privacy and security.
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Decentralization: Web3 works without a central arbiter or central data server. This means that individuals have more direct control over their data and can utilize services without intermediaries.
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Cryptocurrency and digital assets: Web3 supports economic activity through cryptocurrency and digital assets. These assets are based on the blockchain and enable automated transactions through smart contracts.
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Smart contracts: A smart contract is a contract that is automatically executed when a condition is met. This enables automated transactions and contracts on the web3.
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Decentralized Applications (DApps): Web3 allows for decentralized applications that do not have a centralized server. These applications run on the blockchain network and store user data in a distributed database rather than on a centralized server.
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Privacy: Web3 enhances user privacy. Users can manage their own data, disclosing personal information only when necessary.
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Trust and transparency: Blockchain provides transparency and trust because it immutably records transactions and data changes.
Web3 is currently under development and is expected to be a paradigm shift from Web2. It offers new opportunities for higher security, privacy, decentralization, digital economy, etc. and is expected to shape the digital economy of the future.
