# Introduction to web3

**Published by:** [Pavan Sogalad](https://paragraph.com/@pavan-sogalad/)
**Published on:** 2022-04-28
**URL:** https://paragraph.com/@pavan-sogalad/introduction-to-web3

## Content

web3 is an idea for a new iteration on the world wide web based on blockchain technology ,which incorporates concepts such as decentralization and token-based economics. The term "Web3" was coined in 2014 by Ethereum co-founder Gavin Wood, and the idea gained interest in 2021 from cryptocurrency enthusiasts, large technology companies, and venture capital firms.

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