Introduction
to Web3
Part 1
Understanding the basics of
the decentralized internet.
presented by
Lucky Star & Digital Altar
As the internet evolves, we’re moving into the world of web3 — a decentralized
version of the web built on blockchain technology. Unlike previous iterations, web3
shifts more control and ownership to its users. But what does that actually mean? Let’s
dive into the key components of web3 and how it impacts the way we interact online.
Web3 represents the next stage of the
internet, powered by blockchain technology.
It introduces decentralization, meaning
there’s no need for a central authority to
manage or control the network. Instead, it’s
run by a network of users, with data shared
across decentralized applications (dApps)
and protocols.
What is Web3?
Key Components of Web3
Blockchain
1.
The foundational technology of Web3
acts as a secure, transparent ledger
that records transactions in a way
that’s immutable and accessible to
everyone.
Decentralization
2.
One of the core ideas behind Web3 is
decentralization. Power is distributed
among users, reducing reliance on
centralized services and platforms.
3.
Self-executing contracts make
transactions more efficient,
automatically carrying out the terms of
an agreement once specific conditions
are met.
dApps
4.
Decentralized applications (dApps) run
on blockchain, providing users with
more control over their data, including
the verification of interactions, personal
data, and assets.
Smart Contracts
Web3 enables a more user-focused
internet. While you can’t control every
aspect of how your information is shared,
Web3 gives you more options to decide how
and where you use your data. The
decentralized nature means you get to
choose what platforms and applications
you engage with, rather than relying on
centralized companies.
How Web3 changes
online interactions.
Web3 introduces transparency, security, and
a new way of interacting with the digital
world. Through decentralized systems, users
can participate in an online economy that
values transparency and ownership. Whether
you’re creating content, trading assets, or
simply browsing, Web3 provides more direct
control over your digital presence.
What makes Web3
important?
Web3 is still evolving, but its potential to change the internet is significant. It opens up opportunities
for creators, artists, and users to interact in ways that were previously not possible — building digital
economies, minting unique assets like NFTs, and engaging with decentralized communities.
The future of Web3.
x
Digital Altar
This piece was written by Lucky Star, with technical guidance and editing by Digital Altar.
If you enjoyed this knowledge share, feel free to explore my website and follow me on
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