Blockchain/Web3 101 | What is web3?

Decentralization: Unlike today’s web (Web2), where a few large companies control most of the data and services, Web3 uses blockchain technology to spread control across many people and computers.
Ownership: In Web3, users have control over their own data, digital identities, and online assets without needing permission from central authorities (like banks or platforms).
Cryptocurrencies and Tokens: Web3 often uses digital currencies. Tokens can be used for payments, voting in decisions, or gaining access to special services on the web.
Smart Contracts: Web3 uses blockchain-based programs called smart contracts. These are automatic agreements that run when certain conditions are met, without the need for middlemen (like banks or lawyers).

User Control: You own your own data, identity, and online assets, and you can choose how to use or share them.
Decentralized Apps (dApps): Instead of apps controlled by companies, Web3 has decentralized apps that run on blockchain networks.
Transparency: Everything that happens on the blockchain can be seen by everyone, making things more open and trustworthy.