๐ Web3, DeFi and DePIN are three words you'll often hear in the blockchain sector. They're all linked by blockchain, but they offer different applications and solutions. Let's dive in and explore them together in this article!
๐#WEB3
This term is all about the idea of a decentralized Internet, where users have control over their data. It's the opposite of Web 2.0! These applications are based on blockchains and use smart contracts for interactions without a central intermediary.
๐Features of web3:
Decentralisation and elimination of intermediaries.
Control of personal data and protection of privacy by users.
Freedom from censorship.
Example: Brave, ICP and more...
๐๐ถ#DeFi
This area of Web3 lets users lend, save or exchange assets directly with each other, without going through centralized financial institutions. Defi provides financial services using smart contracts.
๐๐ถ Features of DeFi:
Accessibility: services are available anywhere and at any time.
Transparency, because all transactions are visible on the blockchain which
builds trust.
Security is enhanced by blockchain.
Example: Uniswap, Aave, Coumpond and more ..
โ๏ธโพ๏ธ๐#DePin
In contrast to Web3 and DeFi, which are primarily concerned with digital applications, DePin seeks to integrate blockchain technology into physical infrastructure, including the Internet of Things (IoT).
The objective is to develop decentralized management systems for these physical infrastructures.
โ๏ธโพ๏ธ๐ Features of DePin:
Decentralized Physical Infrastructure.
Tokenisation and Governance.
Flexibility of Scale.
Decentralized telecommunications
Decentralised Energy and more....
Example: Helium, Filecoin, Dimo ...
Conclusion:
Although Web3, DeFi and DePin are all based on the vision of decentralisation offered by blockchain, they differ in their objectives and the solutions they propose.
A decentralised internet (Web3) offering accessible financial services (DeFi) and supported by shared physical infrastructures (DePin). This complementarity opens up new horizons.
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