Web3 is the idea of a new kind of internet service that is built using decentralised blockchains and token-based economics - the shared ledger systems used by crytocurrencies like Bitcoin and Ethereum.

Web3, in the context of Ethereum refers to decentralised Apps (dApps) that run on the blockchain. These are apps that allow anyone to participate without without having their data monetised.

Many web3 Developers (Devs) have chosen to start builing dApps because of Ethereum inherent decentralisation:

• Anyone who is on the network has permission to use the service, or in another words, permission isn’t required at all.

• No one can block you or deny you to the service.

• Payments are build-in via the native token, ETH.

• Ethereum is turing-complete, means you can pretty much program anything.