Web3 refers to the third generation of the World Wide Web, which is characterized by the integration of blockchain technology, decentralized networks, and decentralized applications (dApps). It enables the creation of decentralized systems and applications that are not owned or controlled by any single entity, but rather by a network of users. Web3 technology allows for peer-to-peer interactions without the need for intermediaries, resulting in increased security, transparency, and privacy. It is often used interchangeably with terms like decentralized web or blockchain web.
