WEB 3 TECHNOLOGIES

Abstract: Web3 or Web 3.0 is a term coined by the internet community to describe a new era of digital interaction. The upcoming version of the internet, Web3, is founded on token economics, decentralization, and blockchain technology. While Web2 revolved around user-generated content, we are now entering a phase where users will have more control over their data, identity, and transactions on the web. The concept of a decentralized digital system is central to Web3, and this is facilitated by blockchains. It ensures fairness and democracy in the web since no single party can dominate everything. Gavin Wood, who co-founded Ethereum, is credited with introducing the phrase “Web3”.

Keywords: WEB 3.0, Crypto, Blockchains