Web3
A vision of an internet built on blockchains, where users own their assets and identity without central platforms.
Web3 describes a version of the internet where ownership runs through blockchains and wallets instead of corporate accounts. The pitch contrasts it with Web2, where platforms like Google and Meta hold your data and can revoke access. In Web3, your assets and identity live in a wallet you control.
In practice it covers DeFi, NFTs, DAOs, and token-based apps. Critics argue much of it is still slow, speculative, or quietly centralized behind a few providers.
The term is also a marketing banner. Treat it as a direction, not a finished product.
Related terms
An application whose backend logic runs on a blockchain through smart contracts rather than a company's private servers.
DeFi (Decentralized Finance)Financial services run by code on public blockchains, letting people trade or borrow without a bank.
DAO (Decentralized Autonomous Organization)An organization governed by token holders voting on-chain, where rules and treasury live in smart contracts instead of a boardroom.
Self-CustodyHolding your own private keys directly, so no exchange or company stands between you and your crypto.