#Firstpostonbinanncesquare

WHAT IS WEB 3.0?

Web 3.0 is a decentralized internet built on an open blockchain network that is not owned and controlled by large entities.

Web3 is the third generation of the internet currently being built, where websites and apps will be able to process information in a smart human-like way through technologies like artificial intelligence (AI), machine learning (ML), Big Data, decentralized ledger technology (DLT), and more

What Is Web3 Used For?

While Web3 technology is still very nascent, it already offers a number of distinct use cases. Here are the top 4 at present:

1. Metaverse

The metaverse is essentially a virtual world — and can be thought of as a 3D version of the Internet and digital representation of the real world. Users can navigate either with computers, phones or VR/AR headsets, providing a deeply immersive experience that will increasingly blur the edges of reality

Web3 proposes a very different metaverse vision, one that is fully open to anyone, decentralized, interoperable, open-source and will reward creators and security contributors fairly.

2. Blockchain Gaming

While the bear market devastated the high-risk sector of crypto gaming, it’s not game over just yet. A number of high-quality crypto games are still in development, using web 3.

3. Creator Economy

With Web3, creator communities of artists, writers, musicians, designers and developers will finally be able to bypass intermediaries and connect directly with their audiences and supporters. This will help them earn the bulk of any revenue generated in the process.

4.Decentralized Finance (DeFi)

Decentralized finance (DeFi) exploded in value in mid-2020, offering cryptocurrency users the ability to invest, borrow, lend, trade and stake crypto assets permissionlessly. While DeFi faced its fair share of security issues like hacks and scams, the industry offers Web3 the opportunity to onboard potentially billions of users that have been neglected by traditional finance firms such as banks.