Web 3.0 (also known as as Web3) represents the next evolution of the internet, built on decentralized technologies such as blockchain. In Web 2.0, data and applications are controlled by centralized entities (such as Google, Facebook, and Amazon), while on Web3 control returns to the users, allowing for greater privacy, security, and ownership.
Web3 uses blockchain technology to enable peer-to-peer interactions without intermediaries, allowing individuals to directly control their digital assets, identities, and transactions. Important elements of Web3 include cryptocurrencies, smart contracts, and decentralized applications (dApps).
With Web3, users can participate in decentralized finance (DeFi), trade non-fungible tokens (NFTs), and interact in decentralized social networks.