Web 3, also known as Web3, refers to the next generation of the internet. It represents a vision for a new decentralized internet that aims to shift power from big tech companies to individual users. Web3 involves the use of decentralized autonomous entities running apps (DAOs), where decisions are made by users who own governance tokens instead of a centralized authority. This shift in power is facilitated by blockchain technology and cryptocurrencies. Web3 also involves a fundamental shift in the way data creation, access, and storage are handled. It aims to provide a digital space where users have more control over their data and where data is not controlled by a central authority. However, Web3 also faces challenges in scalability, interoperability, and development.

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Web 3, also known as Web3, refers to the next generation of the internet. It represents a vision for a new decentralized internet that aims to shift power from big tech companies to individual users. Web3 involves the use of decentralized autonomous entities running apps (DAOs), where decisions are made by users who own governance tokens instead of a centralized authority. This shift in power is facilitated by blockchain technology and cryptocurrencies. Web3 also involves a fundamental shift in the way data creation, access, and storage are handled. It aims to provide a digital space where users have more control over their data and where data is not controlled by a central authority. However, Web3 also faces challenges in scalability, interoperability, and development.

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