What Is Web3 | Fine Motor

Web3 is a concept for a decentralized internet, incorporating blockchain technologies like [[bitcoin|Bitcoin]] and [[ethereum|Ethereum]], tokenomics, and privacy-enhancing technologies to create a more open and transparent online ecosystem, contrasting with the centralized Web 2.0 model controlled by Big Tech companies like [[google|Google]], [[facebook|Facebook]], and [[amazon|Amazon]]. This new iteration of the World Wide Web aims to give users more control over their data and online interactions, using platforms like [[polkadot|Polkadot]] and [[solana|Solana]]. With the rise of [[cryptocurrency|cryptocurrencies]] and [[non-fungible-tokens|NFTs]], web3 has gained significant attention from investors, developers, and users, despite concerns over scalability, interoperability, and governance. As web3 continues to evolve, it's essential to understand its core principles, benefits, and challenges, and how it relates to other technologies like [[artificial-intelligence|AI]] and [[internet-of-things|IoT]].