Web3

Web3 is the decentralized internet: a user-centric ecosystem built on blockchain technology, enabling digital ownership and peer-to-peer transactions.

Web3 represents the internet’s third generation, shifting power from centralized corporations (Web2) to individual users. This architecture leverages core technologies like blockchain, smart contracts, and decentralized data storage (IPFS) to ensure transparency and immutability. Specifically, Web3 grants users verifiable ownership of digital assets (NFTs) and data, moving beyond the 'read-write' model to a 'read-write-own' model. Key applications include Decentralized Finance (DeFi) protocols, which bypass traditional banks; Decentralized Autonomous Organizations (DAOs), which use code for governance; and decentralized social platforms, which resist single-point censorship. The goal is a fairer, more secure web where identity and value are controlled by the user, not an intermediary.

https://web3.foundation