What is Web3 | Web3 Explained | What is Web3 and Blockchain
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Welcome to our What is Web3 Video!
Web3 is a term used to describe the third iteration of the World Wide Web, which builds on the existing infrastructure of the Web to create a more decentralized and distributed system of data and applications. In contrast to Web1, which was primarily focused on static web pages, and Web2, which introduced dynamic content and user-generated content, Web3 aims to create a more open, secure, and decentralized version of the Internet by leveraging technologies such as blockchain, distributed ledger technology (DLT), and decentralized applications (dApps).
At its core, Web3 seeks to enable users to regain control of their data and online identities, moving away from the centralized models of Web2 and instead providing a more open and transparent way to interact with digital services. This is achieved through the use of blockchain and other decentralized technologies, which provide a secure and transparent way to store and transfer data without the need for intermediaries.
One of the key features of Web3 is the use of smart contracts, which are self-executing contracts with the terms of the agreement between buyer and seller being directly written into lines of code. Smart contracts can be used to facilitate a wide range of transactions and agreements, from financial transactions to supply chain management and even voting.
In addition to smart contracts, Web3 also encompasses the development of decentralized applications, or dApps. These are applications that run on decentralized networks such as Ethereum, and are designed to be more transparent and secure than traditional web applications. dApps can be used for a wide range of purposes, including finance, gaming, social media, and more.
Another key feature of Web3 is the use of decentralized storage, which provides a more secure and efficient way to store data. Rather than relying on centralized servers, decentralized storage systems use a network of nodes to store and transfer data in a distributed manner. This makes it much more difficult for data to be compromised or lost, as there is no single point of failure.
Overall, Web3 represents a major shift in the way we interact with the Internet and the services we use online. By leveraging decentralized technologies such as blockchain and smart contracts, Web3 aims to create a more transparent, secure, and decentralized version of the web that empowers users and enables a new generation of decentralized applications and services.
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The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses a considerable risk of loss. The speaker does not guarantee any particular outcome.
I hope you found value in our What is Web3 video. Make sure to leave a like on the video if you gained value from it!
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⏰Timestamps⏰
00:00 Web 3.0 Project Introduction
00:24 Web 3.0 Project
08:30 Web 3.0 Project Summary
09:19 Web 3.0 Project Outro
