eli5 what is web3
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web3 is a whole new level of the internet game. You know how the web we use today, web 2.0, is all about user-generated content and social media? Well, web3 is all about decentralization and using blockchain technology to create a whole new kind of internet.
With web3, the idea is that you can create decentralized applications that are hosted on a network of computers, rather than on a centralized server. This means that there’s no single point of failure, and no one company or entity has control over everything. Instead, users can interact with these apps and each other directly, without any intermediaries.
But it’s not just about decentralization – web3 also brings a whole new level of trust and transparency to the internet. Thanks to blockchain tech, you can have a completely transparent, immutable record of transactions and interactions. This opens up all sorts of possibilities for new kinds of apps and services, from decentralized finance to peer-to-peer marketplaces to social networks that actually respect your privacy.
Honestly, web3 is super exciting. It’s like a whole new world of possibilities, and I can’t wait to see where it takes us.
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