# Web3

By [sollonia](https://paragraph.com/@sollonia) · 2023-03-20

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### Web3 (also known as Web 3.0\[1\]\[2\]\[3\]) is an idea for a new iteration of the World Wide Web which incorporates concepts such as decentralization, blockchain technologies, and token-based economics.\[4\] Some technologists and journalists have contrasted it with Web 2.0, wherein they say data and content are centralized in a small group of companies sometimes referred to as "Big Tech".\[5\] 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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*Originally published on [sollonia](https://paragraph.com/@sollonia/web3)*