# Web 3 By [Untitled](https://paragraph.com/@0x605907b948df43658bf7c92a21a83d2bc5be054b) ยท 2022-08-08 --- Web3 or Web 3.0 is a concept of a new iteration of the Web development, which was decentralized and based on blockchains. It is a counterweight to Web 2.0, where most of the data and content is concentrated in the hands of a small group of companies --- *Originally published on [Untitled](https://paragraph.com/@0x605907b948df43658bf7c92a21a83d2bc5be054b/web-3)*