What is Web3?

Web3, the future internet we’re moving towards, is a decentralized internet. Under Web3, the internet is shared online and governed by the collective “we,” rather than owned by centralized entities. The Web3 world is one that has open-source protocols at its foundation. Web3 is about rearchitecting internet services and products so that they benefit people rather than entities.

Web3 enhances the web we know today by making it decentralized, distributed, open, trustless and permissionless.

It is getting built such that everything would happen in a decentralized distributed way giving no central authority access to control the system.

‘Open’ as it would be open sourced software built by an open and accessible community of developers and executed in full view of the world.

‘Trustless’ in that the network itself allows participants to interact publicly or privately without a trusted third party.

‘Permissionless’ in that anyone, both users and suppliers, can participate without authorization from a governing body.