What is Web3 used for?

Web3 systems are technology protocols controlled by computer code to facilitate direct and secure communications among users, applications, and data. Blockchain technology, decentralized data storage, and peer-to-peer networking are the necessary components of a decentralized Internet.


Web3 advocates are excited about the potential of Web3 technology to make the Internet more user-centric. Web3 can potentially democratize financial systems by removing centralized decision-makers and geographic borders from the Internet.

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