What is Web3?
Web 3.0 is a new iteration of the internet that’s powered by new technologies like artificial intelligence, machine learning and most importantly, blockchain technology.
Web 3.0 aims to create a more open, connected and intelligent internet that is permissionless and open to everyone without monetizing personal data.
With Web3, anyone who is on the network has permission to use all Web3 services. There isn’t a central authority who can block or deny access. Because Web3 is entirely decentralized, there isn’t a single entity that owns or controls the network. Rather, the community are the ones who control the network. And because the infrastructure that powers Web3 is turing-complete, pretty much anything imaginable can get programmed as a decentralized application.
On top of that, most interactions and transactions that occur on Web3 will benefit in terms of security, speed and cost thanks to the unique nature of blockchain technology.
The value proposition is simple. The main advantage of Web3 is that it addresses the biggest problem that’s resulted from Web2 - the collection and monetization of personal data.
Web3 empowers the user and it creates a more efficient, secure and transparent Internet.