Crypto in Plain English - by cryptohunt.it

Web3 is an extension of cryptocurrency, using blockchain in new ways to new ends. A blockchain can store the number of tokens in a wallet, the terms of a self-executing contract, or the code for a decentralized app (dApp). Not all blockchains work the same way, but in general, coins are used as incentives for miners to process transactions. 

What is web3? It’s a hazy/vague term describing a crypto-powered internet, and a font of yogababble. Its promoters would say something akin to: Web3 is a decentralized version of the internet where platforms and apps are built and owned by users. Unlike web2 (the current web), which is dominated by centralized platforms such as Google, Apple, and F... See more