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Web3

Beginner

Web3 is the next generation of the internet, which is decentralised and powered by blockchain technology. Unlike Web2, where corporations control data, Web3 empowers users to own their data and assets through smart contracts. It encompasses decentralised finance (DeFi), decentralised applications (dApps), non-fungible tokens (NFTs), and decentralised autonomous organisations (DAOs), aiming to create a more open, transparent, and user-controlled digital world. 

Related Words

Wrapped Token

Intermediate

A wrapped token is a version of a cryptocurrency created to work on a different blockchain. For example, Wrapped Bitcoin (WBTC) allows BTC to be used on Ethereum, providing access to DeFi apps and services.

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