web3
Crypto-native internet vision
Web3 refers to a proposed next phase of the internet built on blockchain technology and decentralization.
Advocates envision users owning their data and digital assets rather than platforms controlling them.
The term encompasses cryptocurrencies, NFTs, and decentralized applications.
Critics dismiss it as hype or a rebranding of cryptocurrency speculation: The whole web3 thing feels like a solution looking for a problem.
Distributing power from center
- nodesPoints of connection
- consensusGeneral group agreement
- ledgerFinancial record book
- distributedDivided and given out
validators · staking · fork · chain · cryptography · protocol · wallet · block
Non-fungible tokens
- metaverseShared immersive digital universe
- DeFiPeer-to-peer blockchain banking
- governanceHow authority is exercised
- tokenomicsDigital asset economic structure
Converting input into discrete units
- interoperabilityCross-platform functional harmony
- shardingSplitting data horizontally
- oraclesSources of divine guidance
- hashingOne-way data transformation
Distributing power from center
- trustlessVerified without relying on others
- permissionlessRequiring no authorization
- open-sourceFreely viewable, editable code
- transparencyState of being see-through
ownership · community · grassroots · disruption · autonomy · empowerment · bankless · unbanked
decentralization
Distributing power from center
distributed · validators · staking · fork · chain · cryptography · protocol · wallet · block · transaction
NFTs
Non-fungible tokens
- metaverseShared immersive digital universe
- DeFiPeer-to-peer blockchain banking
- governanceHow authority is exercised
tokenomics · play-to-earn · minting · compound · collectibles
tokenization
Converting input into discrete units
- interoperabilityCross-platform functional harmony
- shardingSplitting data horizontally
- oraclesSources of divine guidance
decentralization
Distributing power from center
- trustlessVerified without relying on others
- permissionlessRequiring no authorization
- open-sourceFreely viewable, editable code
transparency · ownership · community · grassroots · disruption · autonomy · empowerment · bankless · unbanked · pseudonymity
polkadot
Circular pattern element
ripple · altcoin · stablecoin · token · airdrop · whitepaper · exchange
- virtual worldsavatar, metaverse, sim, cyberspace, teleport
web3centralization
Unifying control in one place
FAANG · walled gardens · surveillance capitalism · Facebook · Google
- the webWorldwide digital network
- web pageSingle internet document
- spider websSilk structures trapping prey
- web conferencingRemote online meeting technology
- web addressInternet page identifier
- web of liesInterconnected deceptions forming structure