Web3
The next phase of the internet built on blockchain, emphasizing decentralization, user ownership, and reduced intermediaries.
Last Updated
2026-03-29
Related Concepts
What is Web3?
Web3 is a vision of the internet built on decentralized blockchain protocols where users own their data and assets rather than surrendering them to centralized platforms. It replaces company-controlled services with smart contract-powered alternatives.
How does Web3 work?
Instead of logging into platforms with a username and password, users interact with decentralized applications using a wallet. Smart contracts replace corporate intermediaries a DEX replaces a centralized exchange, a DAO replaces a board of directors, and an NFT replaces a platform's terms of service for digital ownership.
Why does Web3 matter?
In Web2, users are the product platforms monetize data without sharing revenue. Web3 gives users direct ownership of their digital assets and a stake in the platforms they use.
Key features of Web3
- User ownership of data and digital assets
- Permissionless no gatekeepers or account approvals
- Transparent and auditable via public blockchains
- Censorship resistant by design
Examples of Web3
Uniswap is a decentralized exchange no company controls it. ENS provides decentralized domain names.
OpenSea is a permissionless NFT marketplace. Snapshot enables censorship-resistant governance voting.