Web3
A vision for a decentralized internet built on blockchain technology, emphasizing user ownership and permissionless access.
In-Depth Explanation
Web3 proposes replacing centralized platforms with decentralized protocols where users own their data and digital assets. It encompasses DeFi, NFTs, DAOs, and decentralized identity. Critics argue Web3 often reintroduces centralization (centralized frontends, VC-owned tokens) while adding complexity. The term remains contested and evolving.
Related Terms
Decentralized Finance
DeFiFinancial services built on blockchain technology that operate without traditional intermediaries.
Decentralized Application
dAppAn application that runs on a blockchain network, using smart contracts for backend logic instead of centralized servers.
Blockchain
A distributed, immutable ledger that records transactions across a network of computers using cryptographic linking.
More in Infrastructure
View all →Gas Fees
Transaction fees paid to validators/miners for executing operations on a blockchain.
Gwei
A denomination of Ether equal to one billionth of an ETH, commonly used to express gas prices.
Layer 2
L2Scaling solutions built on top of a base blockchain (L1) that process transactions off-chain while inheriting L1 security.
Layer 1
L1The base blockchain that provides security and consensus, such as Ethereum, Bitcoin, or Solana.