Web3 101: A Beginner’s Guide

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

Web3 (2020+) is read, write, and own. People create, consume, and own the upside of their work through tokens. Web3 is built on peer-to-peer networks of computers that talk to each other without middlemen.

Web3 is a new vision of the internet. It takes us away from today’s centralized internet, where data is stored in servers managed by trusted counterparties like Facebook and Google, to a decentralized internet, where a trustless network of peer-to-peer servers manages and verifies data.

A series that explores and explains the world of crypto and blockchain in under three minutes and in plain English.

Topics include Bitcoin, mining, Metamask, stable coins, NFTs, web3, blockchains, staking, DeFi, and big players in the space such as Gary Vee.

From "What is the web3 movement about?": Web1 refers to the early, read-only websites.

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To understand Web3, let’s go through the features of Web1 and Web2. 

Web3 is the name some technologists have given to the idea of a new kind of internet service that is built using decentralized blockchains — the shared ledger systems used by cryptocurrencies like Bitcoin and Ether.