Web3

Web3 is a somewhat colloquial term that broadly refers to web architectures aiming to distribute ownership of personal data, identity, and associated value directly to its participants, often through cryptoassets. Despite this definition, some commentators may use the term as a synonym for blockchain-based systems more generally.

Envisioned as a 'server-less' network, the Web3 architectural vision aims to iterate on various perceived flaws in Web2, in which a small, centralized set of technology companies control most user data. Broadly, the Web 3 movement seeks to eliminate the single points of failure and central points of value accrual prevalent across Web2, such as the data siloes of social media networks and centralized Certificate Authority and DNS protocols.