# The Green in Web3

By [Moonoca](https://paragraph.com/@moonoca) · 2022-09-01

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Web3 (Read, Create and Own) Web3 is the umbrella term for the vision of a new and better internet. In essence, it uses blockchain, cryptocurrencies, and NFT to give power in the form of ownership to users. While Web3 is difficult to give a rigid definition, there are some basic principles that define it.

Web3 is decentralized: instead of being controlled and owned by centralized entities, ownership is shared between developers and users. Web3 is deprived of rights: everyone has equal access to participate in the network, no one is excluded. Web3 supports native payments: it uses cryptocurrencies to spend and send money online, rather than relying on outdated infrastructure of banks and payment processors. Web3 is trustless: it works by using economic mechanisms rather than relying on third parties.

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*Originally published on [Moonoca](https://paragraph.com/@moonoca/the-green-in-web3)*