Web3 is a term used to denote a new wave of Internet development, which is based on the principles of decentralization and uses blockchain technology. It promises a new era of the Internet, which brings greater transparency, security and personal control over data. In this article, we will take a closer look at the concept of Web3, its basic elements and potential impacts on society.
- What is Web3?
Web3 is a vision of the Internet in which central authorities and intermediaries are not necessary. While the current Web 2.0 is based on centralized platforms that collect and control vast amounts of data and are able to control access to it, Web3 seeks to shift power and control back into the hands of individuals.
- Basic elements of Web3:
a) Decentralization: Web3 is based on the principle of decentralization, which means that data and services are distributed and stored on several nodes and are not held by one central entity. This reduces the risk of central failure and allows for greater resistance to censorship and attacks.
b) Blockchain technology: Blockchain is the underlying technology that supports Web3. It is a distributed and immutable public ledger that allows transactions to be recorded and data to be shared without a central authority. Blockchain provides trust, transparency and security within the Web3 ecosystem.
c) Cryptocurrencies: Web3 often uses cryptocurrencies to facilitate transactions and motivate participants. Cryptocurrencies such as Bitcoin and Ethereum enable fast and secure transfers of value without the need for intermediaries.
- Potential impacts of Web3:
Within Web3, individuals have more control over their personal data. They can decide to whom and under what conditions they give access to their data.