Web3

Web3 describes a vision of the internet built on blockchains, in which users own their identity, data and assets directly rather than entrusting them to centralized platforms. It is often contrasted with “Web2,” the era of large platform companies.

How it works

In a Web3 application, users connect a self-custody wallet instead of creating an account with a username and password. Assets such as tokens and NFTs live on-chain under the user’s keys, and much of the application logic runs in public smart contracts. The aim is for value and control to sit with users and open protocols rather than with a single company’s servers.

Why it matters

Web3 reframes ownership and identity online, with implications for finance, gaming, social media and creator economies. It remains an evolving idea: real systems often mix on-chain and off-chain parts, and usability and scalability are still being worked out.

Example

Logging into an app by connecting a wallet, and carrying your assets between apps, is a Web3 pattern.